CBN Journal of Applied Statistics (JAS)


Private Foreign Assets, Destination Sector, Economies, Assets and Liabilities, Nigeria


The survey of foreign assets and liabilities of enterprises in Nigeria was conducted in 2014 to determine the 2013 stock of foreign assets/liabilities of Nigerian enterprises, as well as receiving sectors and origination/destination regions. The survey collected relevant information from 740 enterprises, and analysis of survey returns indicated that the total private foreign liabilities as at end-2013 was N12, 639.27 billion up by 5.08 per cent above its level in 2012. Of this total, 96.7 per cent was in the form of foreign direct investments, while foreign portfolio investments and other capital flows accounted for 0.4 and 2.9 per cent, respectively. About 43 per cent of the total foreign liabilities originated from Europe, while 22.0 per cent and 15.9 per cent were from Asia, and the North Atlantic and Caribbean, respectively. The Nigerian extractive sector continued to be the preferred investment sector to foreign investors as it attracted 45.5 per cent of the total foreign capital stock. The stock of outward investments as at end-2013 was N837.84 billion, representing a decline of 7.7 per cent below its level in 2012. The decline was largely accounted for by the 29.46 per cent drop in foreign assets holding of the extractive sector. European and North American countries were the preferred investment destinations for Nigerian investors as the regions jointly attracted about 49.1 per cent of total outflows, while African countries received 23.4 percent (N195.89 billion) of the total.

Author Bio

The authors are staff of the Statistics Department, Central Bank of Nigeria

Publication Title

CBN Journal of Applied Statistics







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