Nigeria’s Foreign Investment Drops By 25.05% To $2.1 Billion In Q4 2018 - NBS
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.
“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.
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