Foreign Investment Inflows Into Nigeria Dropped By $2.66 Billion In Q3 – NBS
It is no longer news that foreign investors have been taking their investments out of Nigeria over the past few months.
The reasons included political uncertainty in the country ahead of the February 2019 elections as well higher yields in developed markets, especially the United States.
So, those situations led to a drop in the amount of capital imported into Nigeria between July and September 2018.
According to the National Bureau of Statistics, NBS’s capital importation report released on Tuesday, within that period, the total amount of investment inflows into the Nigerian economy declined by $2.66 billion.
The report put the amount of investment that the economy attracted in the third quarter at $2.85 billion, noting that this represents a decline of 48.21% over the $5.51 billion which the economy attracted during the second quarter of this year.
This means that nearly half of all foreign investment that came into Nigeria between April and June were taken away between July and September.
The report said when compared to the third quarter period of 2017, the $2.85bn investment for the economy in the third quarter of this year represents a further decline of 31.12%.
Meanwhile, the report does note that overall, the economy attracted about $14.66 billion between the first nine months of this year.
You can read the full report by clicking on this link.
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