Nigeria recorded about $21.149 billion in direct foreign investment between 1999 and 2006, the Nigeria Investment Promotion Council (NIPC) has said.

The News Agency of Nigeria (NAN) reports that the FDI represented financial resources that was invested directly by investors in various sectors of the economy during the period.

The amount does not include financial inflow, which came through portfolio investments.
Official sources at the NIPC told NAN in Lagos recently that the bulk of the inflow came in from North America and was followed by Europe, Asia and Pacific as well as South America.
About $11.227 billion came in from North American countries, $9.044 billion was from European countries, $139 million was from Asian and Pacific countries, while $108 million was invested by South American countries.

A total of $16.74 billion from the FDI was invested in the oil and gas sector, $4.404 billion was invested in the non-oil and other sectors, $1.723 billion in infrastructural development and $1.197 billion in the services sector.

The inflow peaked in 2005 when about $8.573 billion was brought into the country and was followed by 2004 and 2006 when the country received $7.257 billion and $4.163 billion.
The lowest amount of FDI was recorded in the early days of former President Olusegun Obasanjo's administration.

About $190.59 million was invested in 1999, while $167.39 million came in 2,000 and $13.96 million in 2001.