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Nigeria attracted nearly $6 billion in foreign investments during the first half of 2024. This is according to the National Bureau of Statistics.
However, capital importation dropped by 22.85% in the second quarter, totaling $2.6 billion, down from $3.38 billion in the first quarter. The decline is attributed to challenges like currency volatility and rising inflation.
Despite these hurdles, portfolio investments led with $1.4 billion, while foreign direct investment remained low at just $29.83 million.
Lagos emerged as the top investment destination, receiving over 52% of total capital inflows during this period.
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