World Economy

Nigeria Attracted $12b Investments

Nigeria Attracted $12b InvestmentsNigeria Attracted $12b Investments

Nigeria’s National Bureau of Statistics on Thursday released the capital importation report for the 2017 fiscal year, which indicated that the economy attracted a total investment inflow of $12.2 billion. The $12.2 billion investment inflow, when compared with the $5.38 billion in 2016, represents an increase of 138%, Punch reported. The report put the investment inflow into the country as of the end of the fourth quarter of 2017 at $5.32 billion compared to $4.14 billion in the third quarter. It stated that the growth in capital importation in 2017 was mainly driven by an increase in portfolio investments, which went up by $5.51 billion from the previous year to reach $7.32 billion last year. The NBS report stated that during the fourth quarter of 2017, Abuja and Lagos accounted for over 97% of investment inflows into the country. The report said that portfolio investments recorded the highest share of investment inflows in the fourth quarter, accounting for 64% of the total investments. This was followed by other investments, with 28%; while foreign direct investments accounted for 7% of the total inflows.


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