African Investors Commit $285m Capital In Nigeria

African investors, excluding those from Nigeria, contributed a notable $285.11m in foreign capital to Nigeria in the third quarter of 2024.

The National Bureau of Statistics disclosed that this contribution accounted for 22.76 per cent of the total foreign capital inflow into the country, highlighting the significant role played by African nations in the capital importation landscape.

An analysis of the latest capital importation report of the NBS noted a decline in Africa’s overall contribution compared to the second quarter of 2024 and the same period last year.

The NBS data indicated that the total capital contribution from Africa in Q3 2024 amounted to $285.11 million, a 43.73 per cent decline compared to Q2 2024, which recorded $506.68 million.

On a year-on-year basis, Africa’s contribution also fell by 16.77 per cent from $342.55 million in Q3 2023.