The Nigerian weak business confidence continued to impede foreign direct investments in the country following the drop in the foreign investment inflow to its second lowest in 10 years.

Total Foreign investment recorded in the first quarter of the year stood at $908.27 million, according to the National Bureau of Statistics (NBS). This, represents a decline of $640.61 million or 41.36 percent when compared to the $1.55 billion recorded in the last quarter of 2016.

The decline in investment inflow was attributed to the fall in “other investment” and portfolio investments, mainly equity, which plunged from $176.44 million in the last quarter of 2016 to $101.99 million in the first quarter of 2017. Also, loans declined from $917.01 million to $369.28 million, and bonds which recorded $25.4 million by the end of the fourth quarter of 2016, did zero in the first quarter of 2017.

However, on a quarterly basis, the total value of capital imported in 2017 rose by 27.75 percent when compared with 2016 first quarter but 41.36 percent lower than the final quarter of 2016.

The report read in part, “Capital importation was particularly low in January, at $187.9m; this was only the fourth month since 2007 in which capital importation was less than $200m.”

“There was a high-profile sale of (bonds denoted in a non-local currency) during the quarter, but this has not yet appeared in the data; there is a lag between subscription and actual payment, and, therefore, it is possible that this will show up next quarter.

According to the report, despite the quarterly fall “other investment” remains the largest investment inflow in the first quarter of 2017, representing 42.20 percent of total investment inflow.

“The recent surge in investment inflow after the new investors and exporters forex window was launched in April will boost the FDI data in the second quarter,” said Samed Olukoya, a foreign exchange research analyst at Investors king Ltd. “While, positive OPEC consensus on Thursday is expected to bolster economic outlook as it would validate the CBN sustainability of the ongoing forex intervention,” he added.

http://investorsking.com/nigerias-foreign-investment-inflow-drops-to-908m/

Buhari's praise singers should come and see this.
They should also record it as part of his "achievements" in two years.

Truth234:
The Nigerian weak business confidence continued to impede foreign direct investments in the country following the drop in the foreign investment inflow to its second lowest in 10 years.

Total Foreign investment recorded in the first quarter of the year stood at $908.27 million, according to the National Bureau of Statistics (NBS). This, represents a decline of $640.61 million or 41.36 percent when compared to the $1.55 billion recorded in the last quarter of 2016.

The decline in investment inflow was attributed to the fall in “other investment” and portfolio investments, mainly equity, which plunged from $176.44 million in the last quarter of 2016 to $101.99 million in the first quarter of 2017. Also, loans declined from $917.01 million to $369.28 million, and bonds which recorded $25.4 million by the end of the fourth quarter of 2016, did zero in the first quarter of 2017.

However, on a quarterly basis, the total value of capital imported in 2017 rose by 27.75 percent when compared with 2016 first quarter but 41.36 percent lower than the final quarter of 2016.

The report read in part, “Capital importation was particularly low in January, at $187.9m; this was only the fourth month since 2007 in which capital importation was less than $200m.”

“There was a high-profile sale of (bonds denoted in a non-local currency) during the quarter, but this has not yet appeared in the data; there is a lag between subscription and actual payment, and, therefore, it is possible that this will show up next quarter.

According to the report, despite the quarterly fall “other investment” remains the largest investment inflow in the first quarter of 2017, representing 42.20 percent of total investment inflow.

“The recent surge in investment inflow after the new investors and exporters forex window was launched in April will boost the FDI data in the second quarter,” said Samed Olukoya, a foreign exchange research analyst at Investors king Ltd. “While, positive OPEC consensus on Thursday is expected to bolster economic outlook as it would validate the CBN sustainability of the ongoing forex intervention,” he added.

http://investorsking.com/nigerias-foreign-investment-inflow-drops-to-908m/

lalasticlala,Mynd44

This is not a good one at all, OP what are the necessary steps needed to reverse this ugly trend?

why won't it drop

which investor will want to do business in a place where you will be forced to buy dollars at 380 and be forced to sell at 310.

how on earth can foreign businesses make profit

In summary; "Nigeria has lost value"

What a tokunbo country I live in

You'll never hear anything good coming from Nigeria. Mtchewww

Investors are afraid even doing biz in Nigeria because of FX rates and high tax rates

they shouldn't forget to add it to the may 29th speech along with their 4000 abi 40000 email address achievements

Amoto94:
This is not a good one at all, OP what are the necessary steps needed to reverse this ugly trend?

This was before new forex window was launched. Currently, the investors and exporters fx window has traded about $1.1 billion in volume, which is not included in the first quarter data.

Therefore, I am expecting the second quarter FDI to be higher than what we are seeing. Also, the ease of doing business being pursued by the FG will further lure investors to the country, especially once OPEC ascertain CBN intervention sustainability after today's meeting in Vienna.

Nothing is making sense in this country.

The people in government think people who will bring fdi do nmanmadu and they will invest in a place with multifaceted threats to their business.

This government continue to break records. From zero megawat of electricity to worst recesssion in decades and now this one.

Nigeria is a scam not a nation. If you don't concur in spades, I'm open to hearing ur thoughts

Buhari is comprehensive bad news, no matter which way you look at him.

Nigeria needs God's deliverance from this political demons called APC.

Amoto94:
This is not a good one at all, OP what are the necessary steps needed to reverse this ugly trend?

First and foremost, the current administration should quit as government is unable to provide a suitable environment for business. This is as a result of government inability to guarantee secuity of lives and property.

N

God bless Biafra,the land of the rising sun.

Amoto94:
This is not a good one at all, OP what are the necessary steps needed to reverse this ugly trend?

impeach the Dullard

BoleynDynaSTY:
they shouldn't forget to add it to the may 29th speech along with their 4000 abi 40000 email address achievements

please who is the presidency? is it true that baba is taking Nigerian drugs in the UK? who would give the may29 speech?

abouzaid:
please who is the presidency? is it true that baba is taking Nigerian drugs in the UK? who would give the may29 speech?

Coordinator osibanjo will

This is not too good news at all. Meanwhile,WE BUY AND SELL| Payoneer|Paypal|Skrill|Bitcoin and Neteller funds at good rate.Bring your funds for instant exchange to Naira...instant payment guarantee.

I wish myself HAPPY BIRTHDAY...

Oya show some love

Why won't it drop when our lawmakers continue to pass anti investment laws. The NLNG act, which was signed by Nigerian government and foreign investors was overturned just last week.
This kind of stupid decisions have ramifications.you cannot just wake up and change an agreement between you and your partner after signing into law for over ten years. You come off looking dishonest ,untrustworthy and not capable of honouring agreement. Saraki take note. Not everything is politics

luvinhubby:
Buhari is comprehensive bad news, no matter which way you look at him.

Nigeria needs God's deliverance from this political demons called APC.

But if the news reads rises by 1trillion, you had say Osibanjo is a blessing and Buhari should remain in London. But now that it is ugly news, Buhari is to be bashed and not the current sailor Osibanjo.

Funny set of' political-economy' analysts

TeamSimple:

But if the news reads rises by 1trillion, you had say Osibanjo is a blessing and Buhari should remain in London. But now that it is ugly news, Buhari is to be bashed and not the current sailor Osibanjo.

Funny set of' political-economy' analysts

Please interpret.

Thanks

Buhari is a curse not only to this nation but to the world as a whole.

eezeribe:
Buhari's praise singers should come and see this.
They should also record it as part of his "achievements" in two years.

Oh no! You can never find them here. However it it's about Igbo's with drugs or kidnapping, KANU, PDP, Good luck Jonathan, Rivers state etc, they would be here booking space and wanking to please their pay master via BMC utako branch courtesy of the FG new 4000 email addresses for zombies.