Nigeria’s oil and gas sector saw no foreign capital investments in the first quarter of 2024, according to the National Bureau of Statistics’ Capital Importation data for Q1.
In contrast, other sectors experienced a significant increase in capital importation, rising by 210% to $3,376.01 million from $1,132.65 million in Q1 2023.
Despite being Nigeria’s primary revenue source, the oil and gas sector did not attract any Foreign Direct Investment or portfolio investments, such as stocks, bonds, and securities, during this period.
In the same timeframe, the banking sector received the highest capital importation in Nigeria.
