foreign

Foreign Direct Investment drops 29.7% to $362.8 m in H1’20

Foreign Direct Investment drops 29.7% to $362.8 m in H1’20

By Peter Egwuatu   The contribution of foreign direct investments, FDI, to the nation’s economic growth recorded a major setback in the six months period ended June 2020 (H1’20) as inflows dropped by 29.7 percent to N137.6 billion ($362.84 million) from N178.6 billion ($470.51 million) in the corresponding period of 2019(H1’19). This represents the highest Year-on-Year, […]
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CBN raises limit on banks’ foreign loans by 66%

CBN raises limit on banks’ foreign loans by 66%

By Babajide Komolafe LAGOS— The Central Bank of Nigeria, CBN, yesterday, raised the limit on banks’ foreign currency loans, including Eurobonds, to 125 per cent of shareholders’ funds. This represents 66 per cent increase when compared with the 75 per cent limit introduced in 2014. The CBN also imposed a five-year limit on maturity on […]

RECESSION: Foreign investment inflow down by $4.5bn in 2016

RECESSION: Foreign investment inflow down by $4.5bn in 2016

There were indications that foreign investors largely shunned Nigeria’s economy in 2016 as foreign investment inflow dipped by $4.52 billion to $5.12 billion, the lowest in nine years, according to data released, yesterday, by the National Bureau of Statistics, NBS.

Foreign reserve now $27.4bn

Foreign reserve now $27.4bn

Nigeria’s foreign reserve has recorded 18.2 per cent accretion since its recent uptrend, standing at $27.4 billion with the latest figures from the Central Bank of Nigeria, CBN, for January 2017.