Nigeria’s Capital Inflow Drops to $654.65m in Q3, Lowest in a Decade

By Zekeri Idakwo

Nigeria’s capital importation has significantly dropped in the third quarter of 2023.

According to the figure released by the National Bureau of Statistics (NBS), in the third quarter of 2023, Nigeria’s capital importation fell to a 10-year low of $654.65 million.

The data indicated that Foreign Direct Investments (FDIs) were put at $59.77 million, Portfolio Investments, 87.11m and other investments at $507.77m respectively.

This significant decline, according to experts, raises questions about the country’s ability to attract foreign investment.

Several factors may be contributing to this decline, including economic instability, political uncertainty, and security concerns.

Experts say foreign investors are also likely put off by the country’s high inflation rate and currency devaluation.