Nigerian Economy Attracted N6.5tn Investment in 2 years

On Tuesday, April 29, 2014, the National bureau of Statistics reported that the Nigerian economy has attracted an investment of N6.48tn (40.503bn) in the space of 26 months.

The nation had an increase of $4.703bn or 28.31% in investment from $16.615bn to $21.318bn between January 2012 and February 2014.

The country made an investment of $2.57bn which comprised of $1.5bn in January and $1.06bn in February for 2014 fiscal year.

The portfolio investment in equity, bonds and money market instruments were the highest amount of investment made by investors within the period of 26months. Of the total $16.615bn invested in 2012, portfolio investment in equity, bonds and money market instruments accounted for $13.485bn or 81.16%.

Foreign Direct Investment in equity and other capital accounted for $1.99bn or 1.19 per cent; while other investments such as trade credits, currency deposits, loans as well as other claims recorded the balance of $1.145bn.

In 2013, the portfolio investment in equity, bonds and money instruments accounted for $17.368bn or 81% out of the $21.318bn investment attracted.

Also, FDI in equity and capital accounted for $2.7bn, while other investments such as trade credits, currency deposits, loans as well as other claims recorded the balance of $1.243bn. This is despite the security challenges facing the country.

myfinancialintelligence.com