Foreign Investment On NSE Drops By 15% Amid Buhari’s Uncertain Economic Direction

Foreign Investment On NSE Drops By 15% Amid Buhari’s Uncertain Economic Direction

By Wires | The Trent on October 31, 2015
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Muhammadu Buhari Nigeria APC
Nigerian president Muhammadu Buhari, shown here on June 14 in Johannesburg, South Africa. | Mujahid Safodien/AFP/Getty Images

As the world continues in the long wait for President Muhammadu Buhari to spell out his administration’s economic agenda after about five months in office,  Foreign Portfolio Investment (FPI) in the Nigerian Stock Exchange (NSE) has continued to drop.

Monthly Foreign transactions at the nation’s bourse decreased to N69.33 billion (about $0.35 billion) in September 2015 from N81.13 billion (about $0.41 billion) at the end of August 2015; representing a decrease of 14.54 percent.

Domestic investors conceded about 6.72 percent of trading to foreign investors compared to the 11.38 percent they conceded in the previous month as Domestic transactions increased from 44.31 percent to 46.64 percent while FPI transactions decreased from 55.69 percent to 53.36 percent over the same period. Foreign portfolio investors’ inflows accounted for 22.52 percent of total transactions while the outflows accounted for 30.84 percent of the total transactions in September 2015.

In comparison to the same period in 2014, total FPI transactions decreased by 69.42 percent, whilst the total domestic transactions decreased by 79.53 percent. FPI outflows outpaced inflows which was not consistent with the same period in 2014. Overall, there was a 75.15 percent decrease in total transactions in comparison to the same period in 2014.

(via Business Wise)

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