According to an analysis by the National Bureau of Statistics (NBS), the sector recorded zero investments in Q2 2023 after recording investments worth $750,000 in the first quarter of the year.
Investments in the oil and gas sector started declining last year when an NBS report revealed investment in the sector had dropped by 92%.
The capital importation report, which covered details for 2022, revealed that foreign investments into the petroleum industry in the first six months of 2022 were 92% lower than the $33 million inflow recorded in the last six months of 2021.
