Nigeria’s Economy Attracts $77bn Foreign Investments In Six Years

The Nigerian economy attracted $76.89 billion foreign investments between 2010 and 2015 just as analysts have said the new flexible foreign exchange policy will boost foreign investments in the near term.

ALSO READ 8 Nigerian Food To Never Order On A First Date

Data sourced  from the National Bureau of Statistics (NBS) showed that the investments comprise foreign direct investments (FDIs), foreign portfolio investments (FPIs) and others. In 2010 the country attracted $6 billion investments, made up of $0.73 billion FDIs, $3.87 billion FPIs and others $1.40 billion. The value of investments rose to $7.90 billion in 2011 with FDIs accounting for $1.75 billion, FPIs $4.51 billion and others $1.64 billion.

The value jumped by 110 per cent in 2012 rising to $16.62 billion. Out of this amount, FDIs was $2.0 billion, FPIs stood at $13.49 billion while others stood at $1.13 billion.

The upward trend was maintained in 2013 and the value of investments rose by 28.3 per cent to $21.32 billion led by FPIs with $17.37 billion.  FDIs recorded $1.28 billion, while others stood at $2.67 billion.

However, the value fell marginally by 2.7 per cent from $21.32 billion in 2013 to $20.75 billion in 2014. Out of these, FDIS accounted for 2.28 billion, while FPIs and others recorded $14.92 billion and $3.56 billion respectively.

But in 2015, the value witnessed an unprecedented decline, falling by 79 per cent to $4.30 billion.  FDIs fell to $0.66billion, from $2.28 billion; FPIs crashed from $14.92 billion to $2.28 billion, while others fell from $3.56 billion to $1.36 billion.

Previous ArticleNext Article
Daniel Enisan is a content writer at edliner.com. With a degree in mass communication, Daniel is a full breed journalist. Daniel is a realist, loves the use of sarcasm, a movie and music junkie. He is also a poet and a good listener.

Leave a Reply

Your email address will not be published. Required fields are marked *