FDI Grows 5.97% to $261.35m in Q2

Ndubuisi Francis in Abuja

Total Foreign Direct Investment (FDI) stood at $261.35 million in the second quarter of 2018, growing by 5.97 per cent from the first quarter of the same year, but falling by 4.75 per cent when compared with the corresponding quarter of last year.

According to the National Bureau of Statistics’ second quarter capital importation report, FDI represented only five per cent of the total capital importation.

The report added that equity Investment dominated FDI in the second quarter, accounting for 97.85 per cent of total FDI received in the second quarter.

Capital Importation in the form of Other Capital saw significant expansion, from only $5,000 as recorded in Q1 to $5.63 million in Q2, an increase of over 1000 per cent compared to the same period of last year.