{"id":10687,"date":"2017-02-01T16:41:28","date_gmt":"2017-02-01T15:41:28","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=10687"},"modified":"2017-02-01T16:41:28","modified_gmt":"2017-02-01T15:41:28","slug":"investment-inflow-drops-to-ten-year-low-at-5-12bn","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/investment-inflow-drops-to-ten-year-low-at-5-12bn\/","title":{"rendered":"Investment inflow drops to ten year low at $5.12bn"},"content":{"rendered":"

The Nigerian economy recorded its worst investment inflow in ten years with the country attracting a total investment of $5.12bn in the 2016 fiscal period.<\/span><\/span><\/p>\n

The $5.12bn investment figure when compared to the $9.64bn which the economy attracted in 2015 represents a huge decline of $4.52bn or 46.86 per cent.<\/span><\/span><\/span><\/p>\n

The decline was confirmed in the capital importation report which was released on Wednesday by the National Bureau of Statistics.<\/span><\/span><\/p>\n

There are three major categories of investment that make up the total investment inflow into the country. They are portfolio investment which attracted $1.81bn in 2016, foreign direct investment which attracted $1.04bn, and other investment $2.26bn.<\/span><\/span><\/span><\/p>\n

The bureau in the report explained that the investor apathy into the Nigerian economy was symptomatic of the economic crisis currently being experienced in the country.<\/span><\/span><\/span><\/p>\n

For instance, it said that the weak value of the Naira was one of the<\/span>\u00a0<\/span><\/span>\u00a0<\/span><\/span><\/span>reasons for the low investment inflows into the country , adding that this affected the level of portfolio investment negatively.<\/span><\/span><\/span><\/p>\n

The report said, \u201cThe total value of capital imported into Nigeria in the fourth quarter of 2016 was estimated to\u00a0be $1.54bn, which represents a decrease of 15 per cent relative to the third quarter, and a\u00a0fall of 0.52 per cent relative to the fourth quarter of 2015.<\/span>\u00a0<\/span><\/span><\/span><\/span><\/p>\n

\u201cThe level of capital imported was similar in\u00a0each month of the quarter, but the highest was in December, of $555.37m.<\/span>\u00a0<\/span><\/span><\/span><\/span><\/p>\n

\u201cIn the year 2016, capital importation fell by 46.86 per cent from $9.64bn in 2015 to $5.12bn.\u00a0<\/span><\/span><\/span><\/p>\n

\u201cThis was the lowest value since the series started in 2007, which reflects the numerous\u00a0economic challenges that afflicted Nigeria in 2016.<\/span>\u00a0<\/span><\/span><\/span><\/span><\/p>

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\u201cThe weakening of the naira may have had an\u00a0impact: a weaker naira means more can be purchased with each dollar, and therefore\u00a0investment projects requiring naira payments cost less in dollar terms.\u201d<\/span><\/span><\/span><\/p>\n

The report stated that portfolio investment was the most badly affected investment class in 2016 as it recorded a decline of 69.81 per cent owing to the current market conditions.<\/span><\/span><\/span><\/p>\n

It stated that foreign direct investment followed with a decline of 27.83 per cent in 2016.<\/span><\/span><\/span><\/p>\n

However, the report stated that \u201cother investment\u201d recorded a marginal increase of 3.48 per cent adding that the increase in loans was a major reason for the rise.<\/span><\/span><\/span><\/p>\n

In terms of country of origin of these investment inflows, the report stated that the country from which Nigeria imported by far the most capital was the United Kingdom, which accounted for $482.89m representing 31.18 per cent of the total.<\/span>\u00a0<\/span><\/span><\/span><\/span><\/p>\n

It added that since 2010, the UK has accounted for the highest value of capital importation to Nigeria.<\/span><\/span><\/span><\/p>\n

This is followed by the Netherlands, which accounted for $296.52m, or 19.14 per cent of the total.<\/span>\u00a0<\/span><\/span><\/span><\/span><\/p>\n

It said there were 32 different countries where investments were attracted from noting that this was eight countries less than the 40 that was recorded in 2015.<\/span><\/span><\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The Nigerian economy recorded its worst investment inflow in ten years with the country attracting a total investment of $5.12bn in the 2016 fiscal period. The $5.12bn investment figure when compared to the $9.64bn which the economy attracted in 2015 represents a huge decline of $4.52bn or 46.86 per cent. The decline was confirmed in …<\/p>\n","protected":false},"author":11,"featured_media":10688,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[483],"coauthors":[2392,2393],"class_list":["post-10687","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-investment"],"yoast_head":"\nInvestment inflow drops to ten year low at $5.12bn - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/investment-inflow-drops-to-ten-year-low-at-5-12bn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Investment inflow drops to ten year low at $5.12bn - National Wire\" \/>\n<meta property=\"og:description\" content=\"The Nigerian economy recorded its worst investment inflow in ten years with the country attracting a total investment of $5.12bn in the 2016 fiscal period. 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