From $24bn to $5bn, Nigeria faces investment drought

The total foreign investment that flowed into Nigeria in 2019 is more than four times what the country attracted last year, as the country’s failure to solve many of its economic problems including dollar shortage has scared away more investors.

The value of capital imported into Africa’s biggest economy plunged to a six-year low of $5.33 billion last year from $23.99 billion in 2019, according to the National Bureau of Statistics (NBS).