African investors, excluding those from Nigeria, contributed $285.11 million in foreign capital to Nigeria in the third quarter of 2024. According to the National Bureau of Statistics (NBS), this amount represented 22.76% of the total foreign capital inflow into the country, underscoring the importance of African nations in capital importation.
However, the NBS report revealed a decline in Africa’s overall contribution compared to both the second quarter of 2024 and the same period last year. The $285.11 million in Q3 2024 marked a 43.73% decrease from the $506.68 million recorded in Q2 2024. Additionally, on a year-on-year basis, contributions fell by 16.77% from $342.55 million in Q3 2023.
