Nigeria’s foreign investment dropped by 80 percent to $3.9bn in 2023 from the $5.3bn that was invested in the country in 2022, analysis of a report of capital importation into Nigeria has shown.
The report which was released by the National Bureau of Statistics (NBS) showed that Nigeria attracted $1.1bn in Q1 2023, $1.03bn in Q2, $654.6m in Q3 and $1,08bn in Q4.
In 2022, $1.57bn was imported into the country in Q1, which reduced to $ 1.53 in Q2. It further went down to $1.15bn and $1.06bn in Q3 and Q4, respectively.
However, the report said the S$1.08bn that was imported into the country in Q4 2023 was slightly higher than the $1.06bn recorded in Q4 2022, indicating an increase of 2.62 percent.
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