Nigeria’s Foreign Portfolio Investments have grown by 4472%.
Newsonline Nigeria reports that Nigeria attracted a sum of $222.3 million in portfolio investments into the equity market in the first quarter of 2023.
This represents a 4,472% rise from the immediate past quarter, the 4th quarter of 2023.
This data is coming from the National Bureau of Statistics Capital Importation report for the first quarter of the year.
Nigeria only attracted $56 million in foreign portfolio investments in equity as investors stayed out of the country due to its forex policies.
However, the successful 2023 elections appear to have swayed investors as they bid a return into the equities market.
This is a developing story….
