Nigeria’s foreign investment inflow has been on a downward trajectory since the beginning of 2018.

Within the 4th quarter of the year, it remained in the negative territory, posting up to 25% decline.

According to the National Bureau of Statistics, NBS capital importation (foreign investment flow) report of Q4 2018 released on Wednesday, the total value of foreign investment into Nigeria stood at $2.1 billion.

This represents a decrease of 25.05% compared to Q3 2018 and 60.24% decrease compared to the fourth quarter of 2017.

Similarly, the total value of foreign investment into Nigeria stood at $16.8 billion in 2018 compared to $12.22 billion capital imported in 2017. This represents 37.49% growth Year-on-Year.

Also Read: Nigeria’s Manufacturing Sector Grew By 2.35% In Q4 2018

“The largest amount of capital importation by type was received through Portfolio investment, which accounted for 70.20% ($11.80 billion) of total capital importation, followed by other investment, which accounted for 22.69% ($3.81 billion) of total capital,” the report said.

Meanwhile, Foreign Direct Investment, FDI accounted for just 7.11% ($1.19 billion) of total capital imported in 2018.

The report said by sector, foreign investment by shares, which is closely related to Equity investment (FDI and Portfolio Investment) dominated 2018 reaching $10.4 billion of the total capital Importation in 2018.

The report named the United Kingdom as Nigeria’s top source of foreign investment in 2018 with $6.007 billion. This accounted for 35.74% of the total capital inflow into the country in 2018.

Like this story? Share it.

Also Watch: