The Central Bank of Nigeria (CBN) has disclosed that Nigeria’s capital inflow dropped to $1.63 billion in November 2024.
This was contained in the CBN’s Economic Report for November 2024.
The figure reflects a 13.8 per cent decline from $1.89 billion recorded in October 2024.
The decline, according to the report, was driven by a reduction in portfolio investments, foreign direct investment (FDI), and other investment categories, including loans.
“Capital inflow declined to US$1.63 billion in November 2024, from US$1.89 billion in October 2024. A breakdown showed that portfolio investment inflow decreased to US$1.36 billion, from US$1.41 billion due, mainly, to lower purchases of equity and shares. “Similarly, foreign direct investment decreased to US$0.12 billion from US$0.18 billion in October 2024. ‘Other investments’, mainly loans, also decreased to US$0.15 billion from US$0.30 billion in the preceding month,” the report revealed.
The data showed that portfolio investment inflows which consist of foreign purchases of Nigerian equities, bonds, and money market instruments declined to $1.36 billion from $1.41 billion in October, mainly attributed to lower equity and share purchases by foreign investors.
It further revealed that Foreign Direct Investment (FDI) fell to $0.12 billion in November, marking a 33.3 percent drop from $0.18 billion in October, while other investments, including loans and trade credits, dropped significantly to $0.15 billion from $0.30 billion in the previous month, reflecting a 50 per cent decline.
