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The Nigerian economy attracted total investments of $9.71bn (N1.6tn) in the first half of this year, figures released by the National Bureau of Statistics showed.
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The bureau stated that for the first quarter of 2014, the economy attracted investments worth $3.90bn. For the second quarter, the report put the total investment within at $5.80bn. This, it added, represented an increase of $1.89bn or 48.64 per cent over the $3.90bn recorded in the opening quarter of this year.
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The report stated, “Capital imported in the second quarter of 2014 was recorded at a value of $5.80bn. It increased by $1.89bn or 48.64 per cent from the $3.90bn recorded in the opening quarter of this year.
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The $5.61bn recorded in the second quarter of 2014 is a positive year-on-year growth of $186.23m or 3.32 per cent over the same period in 2013. The second quarter value brought the total capital imported through the first half of 2014 to $9.70bn, which was still $2.50bn or 20.54 per cent lower than the $12.21bn recorded for the same period in 2013.
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The report added that the investments came from three main sources: foreign direct investment, portfolio investment and other investments. The NBS said portfolio investment stood at $4.91bn, making up 84.72 per cent of the second quarter total.This was followed by foreign direct investment, which constituted $472.99m, or 8.15 per cent, while the remaining 7.13 per cent or $413.63m represented other investments.
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