Real sector’s foreign investment declines by US$63.34m close at US$180.61m from US$243.95m in 2018- MAN Report

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The Executive summary of the economic review for the first half of 2019 which was sent to the AmehNews by the group under the aegis of the Manufacturers Association of Nigeria (MAN) showed the manufacturing sector’s foreign investment also fell to US$180.61 million in the second quarter of 2019 from US$243.95 million recorded in the corresponding period of 2018; representing US$63.34 million or 26 percent decrease over the period. It also decreased by US$237.83 million or 56.8 percent when compared with US$418.44 million of the preceding quarter.

The report nevertheless disclosed that the entire Foreign Private Investment (FPI) increased to US$4.292 billion in the second quarter of 2019 from US$4.119 billion recorded in the corresponding quarter of 2018; thus indicating US$0.173 billion or 24.28 percent increase over the period.  It was, however fell by US$2.853 billion or 39.9 percent when compared with US$7.145 billion recorded in the preceding quarter.

 

“FDI inflow in the second quarter of 2019 however decreased to US$0.222 billion from US$0.261 billion recorded in the corresponding quarter of 2018; thereby indicating US$0.039 billion or 14.9 percent decrease over the period. It also decreased by US$0.021 billion or 8.6 percent when compared with US$0.243 billion recorded in the preceding quarter.

 

According to the report, the decrease in FDI inflow in the period under review was attributed to electioneering, transition and the resultant uncertainties that characterized the period.

 


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