Records 114% rise in 9mths 2018 By Babajide Komolafe AS Nigeria’s economy struggles into 2019 there are indications that the impressive first half 2018, H1’18 foreign investment inflow may be wiped out by increasing headwinds both on the local and international fronts. Already the third quarter 2018 statistics are pointing to reversals which analysts forecast to be sustained into 2019 given some emerging adversities in the external sector. Foreign investments in the Nigerian economy rose by 114 percent, year-on-year, to $14.6 billion in nine months as at September 2018, driven by foreign exchange stability, improved crude oil price and attractive yields on fixed income instruments. Analysts, however, expressed mixed opinion in their forecast for foreign investment inflow in 2019, noting that Nigeria’s ability to sustain or exceed this growth trend next year is threatened by the conduct of the general elections, likely policy mishaps, weakened crude oil prices and global interest rate regime. Financial Vanguard analysis of the quarterly capital importation (foreign investment) report of the Nigeria Bureau of Statistics, NBS, shows that foreign investment in the country from January to September 2018 grew by 114 percent, year-on-year (y/y), to $14. 67 billion, from $6.85 billion recorded in the first nine months of… Read full this story
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