Capital importation into Nigeria dropped to $6.7 billion in 2021 as foreign investors ran away from having their money trapped in Naira, IgbereTV reports
The amount recorded in 2021 is a 30.78 percent reduction when compared to $9.68bn recorded in 2020.
The National Bureau of Statistics (NBS) disclosed this in its latest report published on the Nigerian Capital Importation report for the four quarters of 2021.
Over the last few months, multinational companies operating in Nigeria have been facing difficulties repatriating their dollar profits as they watch the value depreciate daily.
On Monday at the commissioning of the Murtala Muhammed International Airport (MMIA) New terminal Minister of Aviation, Senator Hadi Sirika, revealed that foreign airlines’ trapped fund in Nigeria was about N117 billion ($283million).
MTN, Heineken B.V, Nestle SA, Unilever Multichoice have also over the years, complained of the difficulties of getting dollars to send their profits home.
