Documents of the country’s investment inflows obtained from the National Bureau of Statistics revealed that the investment came in from three main sources.
They are foreign direct investments made up of equity and other capital; portfolio investment comprising equity, bond and money market instruments; and other investments which are made up of trade credit, loans, currency deposit and other claims.
A further analysis of the report showed that Nigeria’s foreign exchange policy and the economic recession largely shaped capital importation over the period.
For instance, it was revealed that prior to the economic recession of 2015, the level of investment inflows was at an upward trajectory.
However, at the onset of the economy crisis few months after the inauguration of President Muhammadu Buhari, findings showed that investment inflow recorded a sharp decline to almost half of the 2014 value of $20.76bn, dropping to $9.65bn in 2015.
The report also showed that in 2016, the value of investment inflow remained depressed, decreasing by $4.55bn from $9.65bn in 2015 to $5.1bn.
It, however, noted that the recovery began in 2017, as investors raised their stake by $7.1bn to $12.2bn.
As of the end of the first quarter this year, the country attracted about $6.3bn investment inflows, according to the NBS data.