Reversing the downward trend in Foreign Investment inflow
On
By Babajide Komolafe
From 2017 to 2019, Nigeria enjoyed a strong romance with foreign investors. During this period foreign investors injected $53 billion into the nation’s economy.
Driven by a series of foreign exchange market reforms introduced by the Central Bank of Nigeria (CBN) between 2016 and 2017, including the introduction of the Investors and Exporters (I&E) window and the Naira Denominated Forwards, foreign investment inflow or foreign capital importation into the country rose by 138.7 per cent to $12.228 billion in 2017, from $5.124 billion in 2016.
This upward trend continued in 2018 and 2019 with foreign investment rising by 38 per cent and 30 per cent respectively to $16.812 billion and $23.99 billion.
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