UK, Singapore, 8 Other Countries Are The Highest Sources Of Foreign Investment Into Nigeria
The National Bureau of Statistics,
NBS on Wednesday released the Q4 2018 foreign investment report.
The report showed that within the 4th quarter of 2018, Nigeria’s foreign investment remained in the negative territory, posting up to 25% decline.
According to the National Bureau of Statistics, NBS capital importation report, the total value of foreign investment into Nigeria stood at $2.1 billion.
The foreign investment inflow was led by the United Kingdom with $1.1 billion dollars, followed by Singapore with $249.7 million and the United States at the third place with $183.8 million.
South Africa is at the fourth position with $109.367 million while the UAE and the Netherlands were at fifth and sixth position with $90.937 million and $82.525 million respectively.
Others include Mauritius $72.261 million, Belgium $52.922 million, Hong Kong $29.244 million and Luxembourg $26.066 million.
The $2.2 billion foreign investment inflow recorded in the fourth quarter 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.
Meanwhile, 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.
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