Nigeria’s investment inflow shrinks by N642bn under Buhari - 9JAOlofofo | Nigeia #1 gossip site.

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Sunday, 18 September 2016

Nigeria’s investment inflow shrinks by N642bn under Buhari

The Nigerian economy recorded a total decline of $2.1bn in investment inflow in the first 12 months of the administration of President Muhammadu Buhari.
The $2.1bn, when converted based on the N305.5 per dollar official exchange rate of the Central Bank of Nigeria, translates to about N642bn.
Investigations showed that since July 2015, the country had been experiencing persistent decline in the value of direct and portfolio investments.
An analysis of the capital importation report obtained from the National Bureau of Statistics revealed that the country attracted a total investment inflow of $2.75bn in the third quarter of 2015.
However, owing to the harsh operating environment coupled with exchange rate uncertainties, the inflow had declined by $2.1bn to $647.1m at the end of June this year.
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