November 3, 2024
Nigeria Records $2.6 Billion in Q2 2024 Capital Importation, Marking 152.8% Year-on-Year Growth Despite Quarterly Decline
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Nigeria Records $2.6 Billion in Q2 2024 Capital Importation, Marking 152.8% Year-on-Year Growth Despite Quarterly Decline

Nigeria Records $2.6 Billion in Q2 2024 Capital Importation, Marking 152.8% Year-on-Year Growth Despite Quarterly Decline
Nigeria Records $2.6 Billion in Q2 2024 Capital Importation, Marking 152.8% Year-on-Year Growth Despite Quarterly Decline

Nigeria recorded $2.6 billion in capital importation during the second quarter of 2024, according to the National Bureau of Statistics (NBS). 

In its Q2 2024 capital importation report, released on Tuesday, the NBS noted a decrease of $771.5 million (22.8%) compared to the $3.37 billion recorded in the first quarter. 

However, on a year-on-year basis, foreign investment increased significantly by 152.8%, up from $1.30 billion in the same quarter of 2023.

Also Read: Farmer’s Bride Grosses ₦89 Million Since Release, Sets Record as Highest-Grossing 18-Rated Nollywood Film of 2024

Lagos emerged as the top destination for capital importation, attracting $1.36 billion (52.5% of the total), followed by Abuja with $1.23 billion (47.4%). Ekiti State recorded $0.0003 million.

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