Apparently worried by the outcome of the 2015 election foreign investors are beginning to scale down their level of investment in Nigeria as witnessed by marked slowdown in investment inflows in first quarter of this year.
THISDAY investigation revealed that the failure by the national assembly to pass the Petroleum Industry Bill has also played a major role in the slowdown of foreign investment into the country.
Meanwhile, the Central Bank of Nigeria (CBN) External Sector Development Report (ESDR) for Q1 2014 revealed a reduced contribution of portfolio transactions to total investment inflows.
The ESDR revealed that portfolio investors provided 80 per cent of total investment flows in Q4 2013, dropping to 63 per cent in the first quarter of this year.
The ESDR also showed that a combined portfolio and direct inflows declined by 42 per cent to $2.86 billion in first quarter of 2014.
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