Nigeria's Capital Investment Reduce To $5.62Billion In 2022

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The Capital Investment in Nigeria reduced sharply by over 20 percent to $ 5.32 billion in 2022 from $ 6.70 billion recorded in 2021.

The National Bureau of Statistics Report shows that the total capital Importation in the first quarter was $ 1.57 billion, which reduce to $ 1.53 billion in the second quarter.

The value reduces by 24 percent to $ 1.159 billion in the third and by 8.53 percent t 1.06 billion in the fourth quarter.

The loan represented the highest form of capital during the period at $ 2.311 billion.

Foreign direct investment for the year was valued at $468 million, this comprised equity and other capital at $ 462.91 million and $ 5.16 million.

Another investment was valued at $2.418 billion in 2022, which comprised of the total credit ($ 3.01 million), loan($ 2.311 billion), and currency deposit$(9.32 million).

According to Ishaya Isa, Abuja, a based economic analyst declined the record in capital investment, and the current level of foreign investment should be a concern to the government, as it may have grave implications for the overall economy.

Ishaya stressed the need for policies and programs that can boost investors' trust and confidence.

"There has been some level of uncertainty in Nigeria's economy, and that must be addressed if we must record growth in investment."

"The declined investment can be attributed to the diverse issues bedeviling the Nigerian economy."

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