Nigeria observed significant foreign capital inflows in Q2 2024, amounting to $2.60 billion. Despite a 22.85% decline from the previous quarter, this represents a dramatic year-on-year increase of 152.8%. These investments reflect shifting trends, diverse investor engagement, and evolving confidence in Nigeria’s economy.
Summary of Foreign Investments in Nigeria (Q2 2024):
Nigeria’s capital importation is driven by different investment types, with Portfolio Investments and Other Investments dominating. The United Kingdom continues to lead in terms of country sources. Other countries like the Netherlands and Mauritius show notable growth. But some traditional investors like the United States have scaled back.
Key Data from Q2 2024:
| Category | Details |
|---|---|
| Total Capital Importation | $2.60 billion (22.85% decrease from Q1 2024, 152.8% increase YoY) |
| Leading Investment Type | Portfolio Investment – $1.40 billion (53.93% of total) |
| Other Investment Type | Other Investments – $1.169 billion (44.92% of total) |
Top Foreign Investors by Country:
| Country | Investment Amount ($ millions) | Remarks |
|---|---|---|
| United Kingdom | 1,120 | Largest investor in Nigeria |
| Netherlands | 577.82 | Substantial growth |
| Republic of South Africa | 255.98 | Continuing investment |
| Mauritius | 250.70 | Emerging as a significant investor |
| United Arab Emirates | 143.44 | Stable investment |
| United States | 81.58 | Significant decline |
| Saudi Arabia | 54.55 | Consistent investment |
| Hong Kong | 15.47 | Significant increase |
| Switzerland | 14.55 | Re-entered the market |
| Belgium | 14.32 | Notable decline |
Key Trends:
- New Entrants and Growth: Mauritius and Hong Kong have shown substantial increases in their investment activities. This reflects a growing confidence in Nigeria’s market.
- Cautious Investors: The United States and Belgium have reduced their investments, indicating cautious approaches amid changing market conditions.
- Established Players: The United Kingdom remains the largest foreign investor, with consistent capital inflows into the Nigerian economy.
These dynamics highlight the complex landscape of foreign investments in Nigeria. Both challenges and opportunities influence investor decisions in Q2 2024.
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