Nigeria is steadily improving on its Foreign Direct Investment, FDI, inflow an indication that the investment climate is showing signs of improvement.
In the second quarter of 2017, the country recorded a total value of capital importation of $1.792 billion, indicating a $884.1 million increase over the figure recorded in Q1 2017 and a growing appetite by portfolio investors in Nigerian securities.
On the month-on-month analysis of capital importation in the second quarter, the month of May recorded the highest capital importation of $616.5 million, followed by June with $612.6 million and May with $563.3 million.
According to the NBS, the main driver of the quarterly growth in capital importation in the second quarter was portfolio investments, which increased by 145.7 per cent, followed by other investments, which grew by 95.02 per cent, and Foreign Direct Investment (FDI), which increased by 29.8 per cent over the previous quarter.
Capital importation can be divided into three main investment types: Foreign Direct Investment (FDI), portfolio investments and other investments, each comprising various sub-categories.