The National Bureau of Statistics last week released its 2017 first quarter capital importation report revealing Nigeria attracted just $908 million from foreign investors abroad.
This is the second lowest capital inflow received in the since the 4th quarter of 2013, when the bureau started tracking this data. The worst is till the first quarter of 2015, where Nigeria attracted just $710.9 million.
The data also reveals which sectors interest foreign investors the most in the first quarter of 2017.
Where investors put money into;
- The data reveals foreign investors officially invested more in Servicing and Telecoms with over 16% of the total capital imported into the country. Shares, which typically attracts most of the investments attracted just under 16% of the total capital.
- The banking sector came 4th with about $126 million imported for the quarter
- The oil and gas sector has also witnessed significant inflow in foreign capital in the last one year. It kept on with this momentum with another $100 million imported into the country.
- The agricultural sector, which as attracted significant state support in the past year, attracted about $30 million
- The construction sector surprisingly attracted a meagre $1.5 million this quarter, despite significant push to modernise Nigeria’s railways as well as improve its road networks.
See chart below