Nigeria records $7.1 billion increase in capital inflow in 2017 - NBS

shakirudeen taiwo

March 3, 2018 10:24 AM

Total FDI, FPI and others investments increased to $12.2 billion which is 138.7 percent when compared with 2016.

The total capital inflow that came into Nigeria was estimated $12.2 billion and this is $7.1 billion growth when compared with 2016.

This disclosure was made in its "Nigeria Capital Importation for Fourth Quarter and Full Year 2017 Report" released on Friday, March 2, 2018 by the National Bureau of Statistics (NBS).

According to the report, total capital inflow in the fourth quarter of 2017 was $5.32 billion, compared with the $4.14 billion recorded in the third quarter of 2017 and $1.54 billion recorded in the fourth quarter of 2016.

Capital inflow is made of three main investment types: Foreign Direct Investment (FDI), Portfolio Investment (FPI) and Other Investments.

Foreign Portfolio investment (FPI) into Nigeria was $3.478 billion in Q4 2017 and this formed the largest component of the capital inflow. This FPI captures all investment in shares, bonds and Nigerian capital market instrument. This form of investment contributed 64.6 percent of the total amount of capital inflow.

Also, Foreign Direct Investments hit 378.4 million dollars for the first time since Q4 2015. This figure shows an increase of 221.8 percent when compared with Q3 2017 and a 9.8 percent increase compared with Q4 2016.

The report also revealed that the growth in FDI was mainly driven by equity investments. This contributed 99.8 percent of FDI, while other capital investments contributed 0.2 percent.

shakirudeen taiwo

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng