For the period of Q1 2022, NBS disclosed that capital importation, which consists of financial and equipment capital importation, was $1.57 billion, falling short of the $1.91 billion reported in Q1 2021.
Africa’s largest economy has seen investment inflow drop from $8.49 billion in Q1 2019 to $5.85 billion in the first three months of the year after.
Within the four quarters, Nigeria has lost $6.92 billion, with investment declining by -81.5% within the period.
The dip in capital inflow occurred during the period of the Coronavirus outbreak, which disrupted trading and caused a global lockdown that significantly and negatively impacted business transactions.
Currently, the inflation rate in Nigeria, coming out of the lockdown has reduced consumers’ purchasing power, and cut the earnings of companies, as customers’ demand for products drops.
– Ripples