Business - Economy
Updated: July 28, 2021

Foreign Inflows To Nigeria Decline 61% in H1 2021

By Oluwatosin Ogunjuyigbe
July 28, 2021
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In the first half of 2021, Nigeria received a total of $2.78 billion as foreign inflows, representing a 61.1% decline compared to the $7.15 billion received in the corresponding period of 2020.

This was seen in the capital importation report, recently released by the National Bureau of Statistics (NBS) for the first and second quarters of 2021.

According to the report, foreign direct investments dropped to $232.74 million from $362.84 million recorded in the corresponding period of the previous year.

Foreign portfolio investment (FPI) stood at $1.53 billion, way lower than the $4.69 billion recorded in H1 2020, while other investments stood at $1.02 billion in the review period.

Allnews previously reported that investment in Nigeria crashed by 80 percent between the first and second quarter of the year, according to the Nigerian Investment Promotion Commission (NIPC).