The report indicated that out of the $3.38bn capital importation into Nigeria in the first three months of 2024, the petroleum industry got nothing.
Capital importation is the inflow of foreign capital into a country, typically in the form of investments, loans, or other forms of financial resources.
This can include Foreign Direct Investment, and portfolio investment such as investments in a country’s financial assets like stocks, bonds, and securities.
It can also be in the form of short-term loans, deposits, or other forms of temporary capital inflows.
The petroleum sector’s zero capital importation in Q1 2024 indicates that no foreign capital was invested in the sector during that period, which could potentially impact the sector’s development and growth.
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