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Research Document: NESG Q3’2020 Capital Importation Alert, December 2020


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Posted Wed, Dec 16, 2020 12:11 PM

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Overall investment inflows into Nigeria plunged by 74% year-on-year in Q3’2020
According to the National Bureau of Statistics (NBS), foreign investment inflows fell sharply by 74.0% (year-on-year) to $1.5 billion in the third quarter of 2020 from $5.6 billion in the same period of 2019. This represents a continuous decline in Nigeria’s foreign investment inflows. This drastic decline in foreign capital inflows could be attributed to Nigeria’s poor economic performance accompanied by the impacts of the COVID-19 pandemic within the period. In Q3’2020, the Nigerian economy also contracted by -3.6% while real return on investments remained in the negative region due to a high inflation rate and single-digit T/bill yield. These events, coupled with the considerable uncertainty in the economic environment, served as a disincentive to foreign investors.

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All text, graphics, audio files, code, downloadable material, and other works on this web site are the copyrighted works of the Nigerian Economic Summit Group (NESG).