The Nigeria Employers’ Consultative Association (NECA) has said Foreign Direct Investment (FDI) and capital importation will remain low till the third quarter of 2021.
Its Director-General, Dr Timothy Olawale, made this known in a statement in Lagos, quoting the latest capital importation report released by the National Bureau of Statistics.
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Olawale said Nigeria only received $9.68 billion from capital inflows in 2020, as against 23.99 billion dollars received in 2019.
He said in the report, the inflow of $9.68bn represents 59.6 per cent decline when compared to 23.99 billion dollars recorded in 2019 and 42.4 per cent reduction compared to 16.81 billion dollars recorded in 2018.
“This low rate of FDI and capital importation is likely to continue till Q3:2021, ” the NECA director-general said. (NAN)
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