Macroeconomic Report & Economic Updates

May 31, 2018

Nigeria Economic Update (Issue 17)

Media highlights show that recent figures from the Nigeria Investment Promotion Council (NIPC) reveals a progressive inflow of capital into Nigeria. Specific figures indicate that Nigeria’s actual capital investment inflow stood at $84.3 billion as at 2018Q11, growing by 27 percent from the $66.4 billion recorded for the whole 2017 fiscal year. Notably, highlights suggest […]

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Media highlights show that recent figures from the Nigeria Investment Promotion Council (NIPC) reveals a progressive inflow of capital into Nigeria. Specific figures indicate that Nigeria’s actual capital investment inflow stood at $84.3 billion as at 2018Q11, growing by 27 percent from the $66.4 billion recorded for the whole 2017 fiscal year. Notably, highlights suggest that the capital investment flows have been invested in 112 projects domiciled in 28 states in Nigeria, including the FCT. The increased capital inflow gives a fair sense of growing investors’ interest in the Nigerian economy, as well as their involvements in capital investment projects.




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Africa Economic Update (Issue 8)

Economic growth in Africas largest economies improved in the second quarter of 2017 (2017Q2) relative to the preceding quarter (2017 Q1), as Nigeria and South Africa exited recession. Specifically, GDP growth rate was 0.55 percent and 1.1 percent for Nigeria and South Africa in 2017Q2, compared to 0.91 percent and 0.7 percent in 2017Q2, respectively. The increased growth in Nigerias economy was driven by improved performance in the oil sector (increased crude oil price and production) which offset the decrease in non-oil sector growth, while South Africas emergence from recession is supported by growth in its agriculture sector complimented by growth in finance, real estate, business service, mining and quarrying sectors.