Connect with us

Business

Under Buhari’s Watch, Foreign Investment Inflow To Nigeria Crashes By 45%

Published

on

Foreign Portfolio Investment (FPI) inflow, which represents foreign wealth pumped into Nigerian economy through the capital market, has reduced by 45 per cent from N42.46bn in June to N23.43bn in July, the Daily Trust gathered.

This development came shortly after the revelation made by the Vice President, Yemi Osinbajo, that Foreign Direct Investment (FDI) inflow in the country took a nosedive of 56 per cent from $395m in first quarter of 2015 to $175m in first quarter of 2016.

According to the NSE report, total transactions at the nation’s bourse decreased by 42.13% from N155.85bn recorded in June 2016 to N90.19bn last month.

Also, total transactions at the nations’ bourse, comprising both local and foreign investment, up to July 2016 ending, decreased by 44.38% from N1.284trn recorded within the same period in 2015 to stand at N714.60bn.

Meanwhile, domestic investors slightly outperformed their foreign counterparts by about 1.8% as trading of domestic resources decreased by 39.66% from N76.08bn the previous month to N45.91bn in July 2016.

In the same way, less investment arrived Nigeria from other countries, foreign outflows also reduced in July by 44.10% from N37.30bn in June to N20.85bn.

In comparison to the same period in 2015, total FPI transactions decreased by 54.99% from N696.46 bn to N313.49bn, while the total domestic transactions decreased by 31.83% from N588.36bn to N401.10bn.

The Nigerian capital market has continued to reflect the gloomy economic reality and bleak future expectations for the investing community.

 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *