Nigeria sees lowest capital importation in 14 quarters, as foreign investors dumped Nigeria Bonds over negative real yield

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This week, we picked interest in the Q2’2020 (April – June) Capital Importation data released by the National Bureau of Statistics (NBS) in order to analyse the performance of foreign investment inflows in the said quarter.

This became pertinent following a record -6.10% contraction of Nigeria’s GDP in Q2’2020.

The Capital Importation data is a quarterly statistic, used to show the size (in U.S. dollar terms) of foreign investment inflows into long term Direct Investment (FDI), Portfolio Investment (FPI), and Other financial market investment vehicles in a country.

According to the data released, Nigeria in Q2’2020 recorded a total foreign investment inflow of $1.29 billion, representing a 77.88%q/q and 78.60%y/y contraction compared to the previous quarter [$5.84bn] and the corresponding period of 2019 [$6.05bn] respectively.

Nigeria sees lowest capital importation in 14 quarters, as foreign investors dumped Nigeria Bonds over negative real yield - Brand Spur

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Besides, the Q2 Capital Importation figure also represents the lowest foreign investment inflows into Nigeria since Q1’2017 when total foreign investment inflows settled at $908.27 million.

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