The National Bureau of Statistics (NBS) capital importation report for 2023 Q1 revealed that foreign investments in the manufacturing sector decreased by 35%, from $392.5 million in the fourth quarter of 2022 to $256 million in the first.

The overall amount of capital imported into Nigeria, according to the study, was $1.1 billion in the first quarter of 2023, down from the US$1.5 billion reported in the same period the previous year, a fall of 28%.

Despite the decline, the production sector saw the second-largest inflow of capital, accounting for 22% of all investments, while the banking sector saw the biggest inflow, amounting to $304.5 million, or 26.89% of all capital imported in Q1 2023.

https://newsroundtheclock.com/nbs-reveals-35-foreign-investment-drop-in-manufacturing-sector/