By Yinka Kolawole
In apparent reflection of theharsh business environment in Nigeria over the past year, the inflow of foreign investments into the countrys production/manufacturing sector plunged by 57.36 percent, quarter-on-quarter q/q, to N191.92 billion in the first quarter of 2024 Q124 from N450.11 billion in the preceding quarter Q423.
Data obtained from the National Bureau of Statistics NBS also showed that capital importation into the sector decreased by 25.07 percent, year-on-year y/y, in Q124 when compared with N256.12 billion recorded in Q123.
Capital importation refers to the inflow of money into the countrys economy from other economies for the purpose of investment, trade, or business operations.
Meanwhile, analysis of the NBS data on an annual basis, however, indicates a steady rise in the value of foreign investments into the manufacturing sector since 2020.
