The total inflow of foreign capital to Nigeria fell 3.9% y/y to $4.5bn in the fourth quarter of 2014, following a 48% y/y surge in the preceding quarter, data from the country’s National Bureau of Statistics (NBS) showed. On a quarterly comparison basis, Q4’s capital importation shrank 31.2% after a 12.7% growth in Q3.
For full 2014, total foreign investment reached $20.75bn, by 2.7% below the level for 2013.
Portfolio investment accounted for the biggest part of the total foreign capital inflow in Q4 with a 44.5% share, sharply down from 78.4% in Q3. It plunged 61% q/q and 41% y/y to $2bn.
Next, ‘other’ investments reached $1.73bn in Q4, up 100% q/q and 48% y/y. Their share from the total rose to 38.4% from 13.3% in Q3.
Foreign direct investment (FDI) rose 41% q/q and 531% y/y to $768.9mn in Q4. Its share from the total rose to 17.1% from 8.3% in Q3.
Despite a 33% quarterly drop, the UK remained the biggest investor in Nigeria, contributing $1.95bn, or 43.2%, of the total foreign capital inflow in Q4. It was followed by the US, which provided $1.07bn (23.9% of the total), down 4.8% q/q. Significant contributions came from Saudi Arabia ($435.5mn, 9.7% of the total) and Egypt ($282.1mn, 6.3% of the total).
Among other bigger foreign investors, Hong Kong ranked fifth with $133mn (3% of the total), followed by the Netherlands with $116.7mn (2.6%), Mauritius with $99.1mn (2.2%), and Belgium with $80mn (1.8%).
|$mn||Q1 2013||Q2 2013||Q3 2013||Q4 2013||Q1 2014||Q2 2014||Q3 2014||Q4 2014|
|FDI - equity||541.3||400.8||194.6||113.9||490.4||461.6||544.2||767.8|
|FDI - other capital||20.1||0.1||0.6||7.9||0.3||11.4||0.3||1.0|
|Portfolio Investment – equity||4 930.6||3 934.2||3 532.5||2 719.3||2 260.4||3 875.4||3 770.4||1 542.1|
|Portfolio Investment – bonds||599.4||150.7||31.6||427.6||482.5||731.7||1 000.3||229.5|
|Portfolio Investment - money market instruments||220.5||402.6||171.3||248.8||126.3||310.0||357.1||231.5|
|Other Investments - trade credits||-||-||-||-||14.7||1.4||5.1||0.9|
|Other Investments - loans||286.3||690.6||239.7||920.5||436.4||237.0||349.9||391.0|
|Other Investments - currency deposits||1.7||-||-||2.5||-||-||-||-|
|Other Investments - other claims||0.6||38.6||248.3||240.8||93.6||175.4||515.3||1 335.9|
|TOTAL||6 600.6||5 617.7||4 418.8||4 681.4||3 904.6||5 803.9||6 542.6||4 499.7|
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