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Oh No: Nigerian Economy Records Second Worst Investment Inflow, as FDI Drops to $908m...See Details

Posted by Samuel on Wed 24th May, 2017 - tori.ng

It has been revealed that the Nigerian economy has recorded its second worst investment flow as FDI drops sharply.

Kemi Adeosun

The Nigerian economy recorded its second worst investment inflow in 10 years, with the country attracting a total investment of $908.27m in the first quarter of the 2017 fiscal period, The Punch reports.

The $908.27m investment figure, when compared to the $1.55bn which the economy attracted in the fourth quarter of 2016, represents a huge decline of $640.61m or 41.36 per cent.

The decline was confirmed by the capital importation report, which was released on Wednesday by the National Bureau of Statistics.

A copy of the report was made available to our correspondent by the Statistician-General of the Federation/Chief Executive, NBS, Dr. Yemi Kale.

Details later…