Nigeria’s Foreign Capital Inflow Rises To $1.8bn In Q2

Whatsapp News

• FDI increased by 30% over previous quarter
By Anthony-
(Sundiata Post) – total value of capital imported into Nigeria in the second quarter (Q2) of 2017 has been put at $1.792 billion, indicating a $884.1 million increase over the figure recorded in Q1 2017 and a growing appetite by portfolio investors in Nigerian securities.
This represented a 95.02 per cent growth, even as Foreign Direct Investment (FDI) also increased by 29.8 per cent over previous quarter, the National Bureau of Statistics (NBS) has said.
Analysing capital importation figure in its report for the second quarter of the year, the NBS stated that year-on-year was an increase of 43.6 per cent the $1.042 billion recorded in Q2 of 2016.
On month-on-month analysis of capital importation in the second quarter, the month of May recorded the highest capital importation of $616.5 million, followed by June with $612.6 million and May with $563.3 million.
According to NBS, 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 investments, which grew by 95.02 per cent, and Foreign Direct Investment (FDI), which increased by 29.8 per cent over the previous quarter.
Capital importation can be divided into three main investment types: Foreign Direct Investment (FDI), portfolio investments and investments, each comprising various sub-categories.