Investment Inflow Into Nigeria Rises By 95% To $1.7bn â€' NBS

The report noted which was made available to a LEADERSHIP correspondent noted that  The total value of capital imported into Nigeria in the second quarter of 2017 was estimated to be $1.792bn. This figure was $884.1m more than the figure recorded in Q1 2017, a growth of 95.02 per cent.

Quoting the report: “Year on year, this was an increase of 43.6 per cent from the $1.04bn recorded in Q2 of 2016. A month on month analysis of capital importation in the second quarter shows that the month of May recorded the highest of amount of capital importation ($616.5m), followed by June with $612.6m and May with $563.3m.

“The main driver of the quarterly growth in capital importation in the second quarter was Portfolio Investments, which increased by 145.7 per cent, followed by Other Investments, which grew by 95.02 per cent, and then Foreign Direct Investment, which increased by 29.8 per cent over the previous quarter”.

The NBS said portfolio Investment was the largest component of imported capital in the second quarter of 2017 and accounted for $770.5m, or 43 per cent respectively of the total.