Foreign investors dump 29 states in Q3
Earlier this week, one of my boss told me that people are not investing in the country. I argued, stating the fact that a lot of investment is been made in Real Estate and Agriculture😂.
His response was that those are basic necessities thus there will still be some capital flowing into such areas. Maybe this article by Nairametrics confirms his point
… It goes does.
Foreign investment in Nigeria in the third quarter of 2019 dropped to $5.36 billion from $5.82 billion recorded in the second quarter. Also, twenty-nine states in Nigeria suffered a huge blow, as foreign investors abandoned them.
According to the latest capital importation data released by the National Bureau of Statistics (NBS), Lagos and Abuja maintain the top spots with the biggest foreign investment inflows into the country.
Essentially, in Q3 2019, the largest amount of capital importation by type was received through portfolio investment, which accounted for 55.88% ($2.99 billion) of total capital importation, followed by Other Investment, 40.39% ($2.16 billion) of total capital, and then Foreign Direct Investment, which accounted for 3.73% ($200.08 million) of total foreign inflows within the period.
What do you think is happening? Kindly share your thoughts in the comments below.
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