Nigeria's economy attracted $16.8 bn investment inflow in 2018 – NBS

Nigeria’s economy attracted a total of $16.81 billion foreign investments last year, about 37.5 percent increase from the previous year’s figure, according to latest data released by the National Bureau of Statistics (NBS) on Wednesday.
The statistics office said the foreign investment inflows into the country last year was more by $4.59 billion when compared with 2017 figure.
The data showed that the bulk of the capital flows into the country was through foreign Portfolio Investments (FPI). Funds managed by FPI usually invest in the equity and debt markets due to higher yields.
Offshore portfolio investors brought in about $11.8 billion, which accounted for about 70.20 percent of total capital inflow in the period.
Other Investment contributed $3.81 billion, representing about 22.69 percent of total capital inflows, while Foreign Direct Investment (FDI) brought in $1.19 billion or 7.11 percent of total capital imported in 2018.
The total value of capital importation into Nigeria stood at $2.14 billion in the fourth quarter of last year, a decrease of 25.05 percent compared with the third quarter and 60.24 percent decrease compared to the fourth quarter of 2017.
The United Kingdom emerged as the top source of capital investment in Nigeria in 2018 with $6.7 billion. This accounted for 35.74 percent of the total capital inflow in 2018.