The National Bureau of Statistics on Wednesday reported a decline of 54.34 percent in the value of capital imported into Nigeria in the first quarter of 2016.

The economy attracted a total investment of $710.97 million in the first quarter of the year, making it the lowest level since 2007. This represents a decline of 54.34 percent when compared with the final quarter of 2015.

“The scale of the decline in capital importation in the first quarter of 2016 is symptomatic of the challenging period that the Nigerian economy is going through following the fall in crude oil prices,” the report said.

“Although there a number of reasons why the amount of capital imported in recent years may have been higher than usual (such as the inclusion of Nigerian in the JP Morgan Bond Index, and globally low interest rates triggering a search for higher yields over this period) the fact that the amount of capital imported has dropped to a record low suggests that there are further reasons why Nigeria has attracted less foreign investment in recent quarters.”

Another reason is the current forex scarcity as “investors may be concerned about whether or not they will be able to repatriate the earnings from their investments, given the current controls on the exchange rate”.

“The first quarter of 2016 also saw a large change in the composition of capital imported. Following a quarterly decline in portfolio investment of 71.55% (also the largest quarterly fall on record) portfolio investment accounted for 38.12% of total capital imported, compared to 61.18% in the previous quarter.”

However, portfolio investment takes the largest component of the capital imported into the country as other investments also recorded a sharp quarterly decline of 44.84 percent.

http://investorsking.com/foreign-investment-inflow-plunges-54-34-in-q1/

Every positive thing is declining while negative things keep increasing. This Change has got a definition. Negative Change it is.

Zombies said GEJ destroyed the economy, but all we witnessed was growth in every sector, now we are witnessing economic decline in every sector and the same zombies say it is good for the economy.

Advice: Please ignore all opinions from ZOMBIES, they are counter productive

At this rate that everything good jonathan left us is dwindling, Nigeria will be worthless soon. We wailed about before the election about buhari but zombies said he is mr integrity. We wailed about his certificate but zombies said nepa bill receipt will do, we wailed about 1983 but zombies said this was 2015. What a change this has turned out to be.

Pidggin:
Zombies said GEJ destroyed the economy, but all we witnessed was growth in every sector, now we are witnessing economic decline in every sector and the same zombies say it is good for the economy.

Advice: Please ignore all opinions from ZOMBIES, they are counter productive

Okonjo Iweala JPmorgan move was a bad decision.. mynd44