Foreign investment dropped by 20% in 2022 – NBS

The National Bureau of Statistics (NBS) has revealed that capital importation into Nigeria dropped by 20.47 per cent in 2022, to $5.3bn 2022 from $6.7bn brought into the country in 2021.

This is just as it stated that foreign capital dropped to 51.51 per cent in the fourth quarter of 2022 to $1.06bn.

According to the bureau, this was $1bn that was invested in the country in the same quarter of 2021.

In a report by the NBS, it said $1.06bn was lower than the $2.18bn recorded in Q4 2021.

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Similarly, the report stated that there was also a drop of 8.53% from $1.15bn in Q3 2022.

“The largest capital importation during the period was received from Other Investment, which accounted for 65.17 per cent ($691.2m) of total capital imported in Q4 2022. This was followed by Portfolio Investment with 26.89 per cent ($285.2m) and Foreign Direct Investment (FDI) with 7.94 per cent ($84.23m).”