Investment Inflow Into Nigeria Dropped By $11.1bn In 2015 – NBS | Independent Newspapers Limited
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Investment Inflow Into Nigeria Dropped By $11.1bn In 2015 – NBS

Posted: Mar 23, 2016 at 3:59 pm   /   by   /   comments (0)

Investment inflows into Nigeria dropped by $11.1 billion (N2.18tn) from $20.75 billion in 2014 to $9.64 billion at the end of the 2015 fiscal year, National Bureau of Statistics said on Tuesday.

The bureau, in its capital importation report in Abuja blamed the development on both external and internal factors.

For the external factors, it explained that while the country had between 2012 and 2014 experienced high increase in the level of investment inflows owing to its inclusion in the JPMorgan Bond Index, such could not be achieved in 2015.

The bureau said that for internal factors, the tougher economic environment in the country was responsible for the drop in investments.

It said in each of the consecutive quarters of 2015, there had been a large annual drop more than what was recorded in the previous period.

It reported that in the third and fourth quarters, capital inflows were respectively 58 per cent and 65 per cent lower than in the same quarters of 2014.

The report stated that $2.74 billion was invested in the economy between July and September last year, while the balance of $1.55 billion was invested in the economy in the last three months of 2015.