A Review of the Nigerian Energy Industry

Nigeria: Investment inflow drops by $1.2bn, NBS blames poll shift

19 May 2015, Abuja – The National Bureau of Statistics on Monday released the capital importation report for the first quarter of 2015, stating that investment inflow into the economy declined by 31.58 per cent or $1.232bn from $3.90bn as of the end of the fourth quarter of 2014 to $2.67bn

 forex.exchange.moneyThe bureau, in the report, made available to our correspondent, said the first quarter investment inflow into the country was the lowest value observed over the last two years of review.

 It said high levels of uncertainty in the quarter due to a postponed election and depressed oil price resulted in year declines in inflows of $1.23bn.

It said, “Capital importation totaled $2.67bn in Nigeria in the opening quarter of 2015, giving the lowest value observed over the last two years of review.

“High levels of uncertainty in the quarter due to a postponed election and depressed oil price resulted in year on year declines in inflows of $1.23bn or 31.58 per cent.”

The NBS report  stated that portfolio investment remained the largest of all investment types, totaling $1.86bn in Q1 of 2015.

Despite declining by $142.56m or 7.11 per cent from the fourth quarter 2014, the report said this was the smallest of the three investment type declines.

 

– Punch

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