- The unsettling information is contained in the National Bureau of Statistics Nigeria’s Capital Importation data for Q1
Nigeria’s oil and gas sector failed to attract any foreign capital investments in the first quarter of 2024.
The unsettling information is contained in the National Bureau of Statistics Nigeria’s Capital Importation data for Q1.
Meanwhile, other sectors saw the country’s capital import rise by 210 percent to 3,376.01 million from $1,132.65 million recorded in Q1 2023.
According to the NBS data for the period under review, the Africa Largest Oil Producer failed to attract Foreign Direct Investment, and portfolio investment in the oil and gas industry such as investments in financial assets like stocks, bonds, and securities.
Meanwhile, the banking sector received the highest capital importation to Nigeria in the period.
This coming despite the oil and gas sector being Nigeria’s main source of revenue.
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