Banking sector, others suffer as investment inflows drop by N1tn

About 14 sectors of the economy recorded a decline of about $3.45bn (about N1.05tn) in investment inflow between the first and third quarter of the year, analysis of the capital importation report prepared by the National Bureau of Statistics has revealed.

The report, which was obtained by The PUNCH correspondent from the NBS, showed that the inflow of investment into the economy declined from $6.3bn as of the end of March this year to $2.85bn.

It stated that investment in shares was the most affected dropping by $2.12bn from $3.79bn in the first quarter to $1.67bn in the third quarter.

This is followed by the banking sector which recorded a decline of $891m from $1.18bn to $289.4m.

The PUNCH, December 28, 2018

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