Nigeria’s Capital Importation Fell 26% in 2023 to $3.9 billion

Nigeria’s capital inflows fell 26% to $3.9 billion in 2023 from $5.3 billion the previous year, the National Bureau of Statistics said in a statement on its website.

Inflows fell in 2023 as foreign direct investments and inflows from portfolio investors declined, the nation’s statistics agency said.

Portfolio inflows declined by about a half to $1.1 billion, while foreign direct investments were down 19% to $377 million, it said.

Capital inflows rose 2.6% in the fourth quarter of 2023 compared to year ago, to $1.1 billion, the statistics agency said. They were up 66.3% when compared to the third quarter.

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