FDIs inflows to Nigerian economy reach $963m H1

Foreign direct investments (FDIs) into Nigeria, Africa’s largest economy, reached some $963.7 million first half of the year in response to government’s intense drive to pull in investors to grow the economy and create jobs.

But much of the investment inflows within the period were rather seen in portfolio investments which at $7.79 billion dominated the $9.708 billion total capital imports.

Other investments in trade credits, loans, currency deposits and other claims made up the remaining $958.4 million inflows.

Equity investment inflows alone between January and June stood at $7.08 billion, showing foreign investors’ preference; bonds attracted some $1.214 billion while about $436 million were invested in money market instruments.

The National Bureau of Statistics (NBS) said investment inflows prior to 2013 was rising steadily, recovering from the lows recorded post the 2008 financial crisis.

Details later…