Skip to main content

Featured Post

NDC Lagos Condemns “False, Misleading and Malicious” Publication Targeting State Leadership

  The attention of the leadership of the Nigeria Democratic Congress (NDC), Lagos State Chapter, has been drawn to a misleading and malicious publication currently circulating online under the title: “A Call For An Immediate Vote of No Confidence on the Failed Leadership of NDC Lagos.” Ordinarily, the party would not dignify baseless propaganda and politically motivated attacks with a response. However, in the interest of our members, aspirants, supporters, and the general public, it has become necessary to set the record straight and correct the false narratives deliberately being spread to create confusion and disunity within the party. First, we categorically reject the false allegations of extortion, exploitation, and coercion against the leadership of NDC Lagos State. At no point were aspirants forced or compelled to make any unofficial payments. The only approved payments made by aspirants were the officially recognized screening fees as directed and approved by the National ...
Post a Comment

Investment Inflow Drops By 28 per cent In Q1 2023

 



 By Awoyemi Adebisi Oluwaseun



Report by the National Bureau of Statistics (NBS)  revealed that the Total capital importation into Nigeria in Q1 2023 stood at US$1,132.65 million, lower than US$1,573.14 million recorded in Q1 2022, indicating a decrease of 28.00% 



When compared to the preceding quarter, capital importation rose by 6.78% from US$1,060.73 million in Q4 2022.


According to the report, the largest capital importation during the period was received from Portfolio Investment, which accounted for 57.32% (US$649.28 million) of total capital imported in Q1 2023.



This was followed by Other Investment with 38.31% (US$435.76 million) and Foreign Direct Investment (FDI) with 4.20% (US$47.60 million).


Disaggregated by Sectors, capital importation into the banking sector recorded the highest inflow of US$304.56 million, representing 26.89% of total capital imported in Q1 2023.


This was followed by capital imported into the production sector, valued at US$256.12 million (22.61%), and IT Services with US$216.06 million (19.08%).


Capital Importation by Country of Origin reveals that capital from the United Kingdom ranked top in Q1 2023 with US$673.64 million, accounting for 59.47%.


This was followed by the United Arab Emirates and the United States valued at US$108.28 million (9.56%) and US$95.36 million (8.42%) respectively.


By Destination of Investment, Lagos state remained the top destination in Q1 2023 with US$704.87 million, accounting for 62.23% of total capital investment in Nigeria.


This was followed by Abuja (FCT), valued at US$410.27 million (36.22%).


Categorization of Capital Importation by Banks shows that Citibank Nigeria Limited ranked top in Q1 2023 with US$424.13 million (37.45%).


This was followed by Standard Chartered Bank Nigeria Limited with US$360.33 million (31.81%) and Stanbic IBTC Bank with US$151.85 (13.41%).

Comments

Post a Comment

Join the conversation!
Have insights, corrections, or questions about this news story? Drop your comment below. We value civil, fact-based discussion.

Popular posts from this blog

BREAKING: Esa-Oke Youths Reunite as Survivors, Caution Pelumi against revisionism

....we’re not your campaign slogan Once upon a glorious, chaotic 2017, practically every able-bodied youth in Esa-Oke held honorary title in the land: Personal Assistant to Barrister Pelumi Olajengbesi. No interviews. No pay. Just passion, blind loyalty, and the stamina to chase him from one campaign ground to the next like a political body double. From Comrade Mainframe to Comrade Swiss, from Yinka Oba to the humble football boys who carried cones like national flags, we were there. We were the movement. Until, of course. Now in 2025, Barrister Pelumi, clearly inspired by a Netflix political drama is on a media tour telling anyone who’ll listen that he "settled everyone who worked for him." Settled who, please? Maybe in his dreams or in the metaverse. In the real world, the story’s a bit different. Those of us from Obokun, who hustled day and night, got exactly zero: no thank you, no handshake. Take Sami, now a former Ward 7 councillor, no thanks from Pelumi. Folusho? Aregbe...
Post a Comment
Read more

Assassination Attempt: Police can’t deny what’s on their desk, says Amotekun boss

  The Corps Commander of the Osun Amotekun Corps , High Chief Dr Hon. Adekunle Isaac Omoyele , who is currently receiving treatment at an undisclosed hospital following an attempted assassination on his life on Monday, has strongly refuted the claims made by the Osun State Police Spokeperson regarding the incident. Reacting to the statement by the Police Public Relations Officer (PPRO), who claimed that investigations had not commenced because the Commander had not provided evidence of the attack, the Amotekun boss expressed deep disappointment, labeling the police response as insensitive and misleading. "It is shocking that a police spokesperson would say there is no evidence of an attack when the Divisional Police Officer (DPO) of Ota-Efun Division — the nearest jurisdiction to the incident — was immediately informed," the Commander said. "Officers from that division visited the scene the same night, assessed the damage, evacuated the vehicle, and advised me to seek ...
Post a Comment
Read more

I Will Pay $10M If Nnamdi Kanu Curtail Insecurity, Ezendigbo Challenge FG, S' East Politicians

The Founder of the Better Nigeria For Better People, Chief. CBN Onwuasoanya Ezendigbo, has lambasted the former Governor of Anambra State and the Presidential candidate in the last general elections under the Labour Party, Peter Obi, for facilitating efforts towards Nnamdi Kanu's release from detention. Ezendigbo, in a statement released on Thursday said that, Nnamdi Kanu lack power to stop insecurity in Southeast Nigeria. According to the former Presidential Aspirant, "Let's have a road map for a 2-month cease-fire agreement to demonstrate that to release the leader of the Indigenous People of Biafra (IPOB) would stop insecurity. He's just a political football fan for politicians, he said." "I am challenging both the federal government and Southeast politicians with $10M (Ten Million Dollars), they should tell Nnamdi Kanu if there will be no sit-at-home, no kidnapping in the region, that will give guarantee that he has control over insecurity in the southea...
Post a Comment
Read more

Media Outreach Newswire

" style="clear: both;">
Post a Comment
Read more