- FDI dropped by 5.96 per cent between 2016 and 2017
Nigeria’s total capital inflow in 2017 doubled to $12.2 billion from the $5.38 billion recorded in 2016.
The Capital Importation Data for the full year 2017 released yesterday by the National Bureau of Statistics (NBS) shows that Foreign Direct Investment (FDI) dropped while both portfolio investment and other investments skyrocketed.
The analysis shows that FDI dropped by 5.96 per cent between 2016 and 2017, portfolio investment went up 304.2 per cent between 2016 and 2017, while other investments went up by 72.8 per cent between 2016 and 2017. Breakdown of the $12.2 billion imported in the year shows that portfolio investment was highest in full 2017 with 59 per cent, other investments by 32 per cent and FDI contributed the least, being eight per cent.
In the fourth quarter of 2017, the report showed that $5.32 billion was imported compared to $4.14 billion imported in Q3 2017 and $1.54 billion in Q4 2016. The analysis shows that portfolio investment was the highest share in Q4 2017 with 64 per cent, other investments accounted for 28 per cent while FDI accounted for seven per cent. A closer look shows that FDI was up in Q4 2017 over Q3 2017 by 221 per cent, portfolio up 25 per cent, while other investments upped to 21 per cent.
Shares accounted for the largest purpose in Q4 2017 with 68.3 per cent of the total, followed by banking (10.1 per cent and production 5.90 per cent.
The USA, UK and Belgium were the largest countries where the capital imports came from in Q4 2017, while Abuja and Lagos account for over 97 per cent of destination of inflow in Q4 2017.
