News Africa

Capital importation into Nigeria rises by 91.35%

Total capital importation into Nigeria increased by 91.35 percent to $1,252.66 million in the third quarter of 2024 compared to $654.65 million recorded in the same quarter last year.

This is according to the National Bureau of Statistics data on capital importation in Q3 released on Friday.

The data showed that foreign investments into Nigeria increased on a year-on-year basis.

However, when compared with Q2, capital importation into Africa’s most populous nation declined by 51.90 percent from US$2,604.50 million in Q2 2024.

A further analysis of Q3 capital importation showed that portfolio investment ranked top with US$899.31 million, accounting for 71.79 percent, followed by other investment with US$249.53 million, accounting for 19.92 percent.

Foreign Direct Investment recorded the least with US$103.82 million (8.29 percent).

 

Source: www.mynigeria.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

Related Articles

Back to top button