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The National Bureau of Statistics (NBS) has reported that African investors, excluding those from Nigeria, contributed 22.76% of the total foreign capital inflow into Nigeria during the third quarter of 2024.
This amounted to $285.11 million, underscoring the notable role played by African nations in Nigeria’s capital importation landscape.
However, the report revealed a sharp decline in Africa’s overall contribution when compared to previous periods.
The $285.11 million recorded in Q3 2024 represents a 43.73% drop from the $506.68 million reported in Q2 2024.
Similarly, on a year-on-year basis, Africa’s contribution decreased by 16.77%, falling from $342.55 million in Q3 2023.
The NBS identified Mauritius, the Republic of South Africa, Ghana, and Morocco as the leading African contributors to Nigeria’s foreign capital inflow during the period under review.
