February 22, 2024
FDI Falls By $471m In Five Years
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FDI Falls By $471m In Five Years

Foreign Direct Investments, FDI, into Nigeria declined by $470.8m in the last five years, findings by The PUNCH revealed.

The National Bureau of Statistics, NBS, in its third quarter 2023 Capital Importation report said the total foreign investments into the country dropped to $654.6m from $1.1bn in the second quarter.

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On a year-on-year basis, FDI decreased by 26.8 percent from $81.72m recorded in the third quarter of 2022 to $59.77m in the third quarter of 2023.

It further declined by 89 percent on a five-year basis, from $530m recorded in the third quarter of 2018 to the $59.77m recorded in the corresponding quarter of 2023.

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