FDI crashes to record low of $29.8m

Oct. 9, 2024 - Punch Newspapers

Data from the NBS shows that Nigeria’s FDI includes equity and other capital. The PUNCH further observed that FDI made up only about 1.

15 per cent of the total capital importation of $2.60bn in the quarter under review.

The reliance on foreign currency loans highlights the ongoing trend where short-term investments and debt instruments dominate Nigeria’s capital importation landscape. This sector’s dominance highlights the crucial role of banks as conduits for foreign investments, facilitating access to Nigeria’s financial markets.

Tella argued that resolving the FX crisis, expanding the economy, and creating a more business-friendly climate are crucial for boosting Nigeria’s FDI...