The Nigerian economy recorded its second lowest investment inflow in ten years, with the country attracting a total investment of nine hundred and eight million dollars in the first quarter of 2017.
The investment figure, when compared to the one-point-five billion dollars that the economy attracted in the fourth quarter of 2016, represents a decline of six hundred and forty million dollars.
The decline was confirmed in the Capital Importation Report, which was released on Wednesday by the National Bureau of Statistic.
The report attributed the decline in investment inflow to the fall in “other investment” and portfolio investments category made up of equity, which dropped from one hundred and seventy-six million dollars in the fourth quarter of 2016 to one hundred and one million dollars in the first three months of this year; loans, which declined from nine hundred and seventeen million dollars to three hundred and sixty-nine million dollars; and bonds, which recorded twenty-five-point-four million dollars at the end of the last quarter of 2016 and nothing in the first quarter of the current fiscal year.
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