Nigeria records lowest investment inflows at $647m

The National Bureau of Statistics on Wednesday said the Nigerian economy recorded its lowest level of investment with a total investment inflow of $647.1m in the second quarter of 2016.

The bureau in the capital importation report which was released by the Statistician General of the Federation,said the $647.1m represents a fall of 8.98 per cent relative to the first quarter.

It added that the decrease is also a decline of 75.73 per cent relative to the second quarter of 2015.

The report reads in part, “The total value of capital imported into Nigeria in the second quarter of 2016 was estimated to be $647.1m, which represents a fall of 8.98 per cent relative to the first quarter, and a fall of 75.73 per cent relative to the second quarter of 2015.

“This provisional figure would be the lowest level of capital imported into the economy on record, and would also represent the largest year on year decrease. This would be the second consecutive quarter in which these records have been set.”