The confidence to invest and make profit in Nigeria has dropped drastically over the last year, with investors withdrawing more than N2.2 trillion from the economy in 2015. According to statistics from Nigeria’s Data Bureau (NBS), as quoted by Quartz Africa, investor confidence in Nigeria rose significantly between 2010 and 2013, only to take a little dive in 2014, and a drastic drop in 2015.

When Goodluck Jonathan was announced acting president of the country in 2010, following the illness and subsequent death of Umaru Yar’Adua, investing interest in Nigeria rose by N1.17 trillion. In Jonathan’s second year, and after a “successful” presidential election, investing interest rose by N396 billion to an approximate N1.6 trillion.

By 2013, investing interest in Nigeria had risen by N2.65 trillion to N4.22 trillion. In 2014, towards the build-up of the 2015 general elections, which predicted endless doom for Nigeria, some investors withdrew their monies from the Nigerian economy, leading to a drop from N4.22 trillion to N4.1 trillion.

In 2015, however, there was a drastic withdrawal of investing interest in Nigeria, and according to NBS, investing interest declined by N2.2 trillion in 2015. Some investors blamed it on the uncertainties that surrounded the 2015 elections, while many others blamed it on the lack of policy direction in the first five months of President Muhammadu Buhari’s administration.


Data from the Nigerian Stock Exchange (NSE) show that investors were voting their monies out of the economy prior to the election, but immediately after the relatively free and fair poll, they brought the monies back. Then three months before the election, NSE lost 8.40 percent of its worth, only to regain 8.30 percent in a single day after the election.


By March 31, 2015 – while the election results were being collated – the NSE market capitalisation was at N10.718 trillion, but it rose to N11.62 trillion after Buhari’s victory. The bullish phenomenon was called ‘Bullhari’. As at December 31, 2015, the market cap was down from N11.62 trillion in April to N9.85 trillion.

Read more at: https://www.thecable.ng/revealed-investors-withdrew-n2-2trillion-from-the-nigeria-economy-in-2015

Cc, lalasticlala

Hmmmm,this is saddening

Somebody is associated with bad luck , who could that be?

They can go. Any firm that don't wanna do business in a corrupt free manner doesn't mean well. They can take their trillions and go to Jupiter. We need sincere investors. We will survive.

Obviously because of the conscienceless consciencelessness; Because of purposeless purposelessness, because of the planless planlessness and because of the directionless directionlesness of the present administration.

Hmmmm
This is serious

Trunaijian:
They can go. Any firm that don't wanna do business in a corrupt free manner doesn't mean well. They can take their trillions and go to Jupiter. We need sincere investors. We will survive.

You can always spot a naïve simpleton from his narrow worldview and blissful ignorance.

Nigerians and their miserably low IQs.

2.2 trillion out of Naija!? How much is our National budget for heaven sake!?

I don't know about the figures but I know that we have lost many investors in recent times and one of the reason is the fact that Buhari took a long time to start working.
And funny enough, he is now chasing after them all over the globe.

Until Buhari settles to govern his country, just maybe till then we can salvage our economy and currency. As at now. Our President is Going on a 25th Apostle Buhari Missionary Journey

Usual fluctuations, there is stability ahead, at list we pray so

Kenai:


You can always spot a naïve simpleton from his narrow worldview and blissful ignorance.

Nigerians and their miserably low IQs.

they can go!

Hmmmm

Trunaijian:
They can go. Any firm that don't wanna do business in a corrupt free manner doesn't mean well. They can take their trillions and go to Jupiter. We need sincere investors. We will survive.

Its the foreign exchange restrictions that are making them flee. Even me with small cash find the restrictions disruptive.

I have written the economy off since july 2015

You need less than a minute of reflection to see that most nigerians don't know- and more importantly, don't care- about the source of our personal and national woes.
There's a reason why many churches have WORK DAY services-
Most of us are subconsciously, but constantly searching for a shortcut. God's miracle or a saviour from the skies. Or in aso rock...
FOR THE UNINFORMED-
Every nation has speculators looking to make a quick buck. Like it or not, it's these very people that real sector investors usually look to in order to 'test the waters' of a nation's economic potential.
This govt has not awarded a single contract for a turnkey project. Why would any reasonable person expect firms to risk their funds on- 'nothing'?
Power, naira, the economy, every real sector, even OUR NON-CRUDE EXPORTS are all worse than may 29, 2015!
By now, all those who refused to do business in a corruption-riddled nation should have been flooding in and fighting over capital and real sector projects, with the new sheriff in town gunning down criminals and plugging leaks, so what's gone wrong?
Well...
Your budget somehow got 'robbed' by those cowboys you claim to be locking down, but you STILL expect to inspire confidence?!
Bros, dat one go tey o...

grandstar:


Its the foreign exchange restrictions that are making them flee. Even me with small cash find the restrictions disruptive.

I have written the economy off since july 2015

No bro. No hasty decisions. We are experiencing transitional symptoms. Coupled with the fall of oil prices, there must be Some negatives in the economy. Do not be quick to write the economy off. We should hope that the survival instincts of Nigerians will come to play where we look inwards and by use of our human and natural resources (other than oil) we revive the economy. It is possible and we should support and encourage ourselves. Other nations where plenty of Nigerians tend to refer to have had their own tough times and they survived. History cant lie. We have no other country Other than Nigeria. Nobody is gonna give us the accolade we deserve if we don't appreciate what God has given us. We owe it to ourselves and our children to keep the faith and weather the storm. It will pass. then sunshine will come by HIS grace. We will tell this story one day when things get better. Together we will be great again.

Trunaijian:
No bro. No hasty decisions. We are experiencing transitional symptoms. Coupled with the fall of oil prices, there must be Some negatives in the economy. Do not be quick to write the economy off. We should hope that the survival instincts of Nigerians will come to play where we look inwards and by use of our human and natural resources (other than oil) we revive the economy. It is possible and we should support and encourage ourselves. Other nations where plenty of Nigerians tend to refer to have had their own tough times and they survived. History cant lie. We have no other country Other than Nigeria. Nobody is gonna give us the accolade we deserve if we don't appreciate what God has given us. We owe it to ourselves and our children to keep the faith and weather the storm. It will pass. then sunshine will come by HIS grace. We will tell this story one day when things get better. Together we will be great again.

Who is deceiving you? Your teacher told you 1+1= 4, and you think your maths will get better?

Buhari is not an eco economist! Trust me these policies don't work. Sanusi and Soludo and Utomi have all said likewise. Utomi even joked we may soon be queuing to buy salt!