In Manufacturers Association of Nigeria’s Economic Review for Second Half of 2019 report released in Executive Summary format over the week disclosed that the manufacturing sector’s Foreign Investment Inflow (FDI) fell to US$153.77 million in the third quarter of 2019 from US$230.34 million recorded in the corresponding period of 2018; thereby indicating US$76.6 million or 33 percent decrease over the period.
The report further indicated also that decreased by US$26.84 million or 14.9 percent when compared with US$180.61 million of the preceding quarter.
While Foreign Private Investment (FPI) increased to US$2.999 billion in the third quarter of 2019 from US$1.723 billion recorded in the corresponding quarter of 2018; thus indicating US$1.276 billion or 74.1 percent increase over the period. It however fell by US$1.293 billion or 30.1 percent when compared with US$4.292 billion recorded in the preceding quarter.
Also FDI in the third quarter of 2019 also fell to US$0.200 billion in the third quarter of 2018 from US$0.530 billion recorded in the corresponding quarter of 2018; thereby indicating US$0.330 billion or 62.3 percent decrease over the period. It also decreased by US$0.022 billion or 9.9 percent when compared with US$0.222 billion recorded in the preceding quarter. The decrease in FDI inflow was attributed to lack of confidence in the country’s economy.
