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Osinbajo to lead discussions at Banks’s CEOs Summit on Economic Growth tomorrow
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…Govs Fayemi, Zulum, Sanwo-Olu to speak
Vice President Yemi Osinbajo, Finance Minister, Zainab Ahmed, Governor of the Central Bank of Nigeria, Godwin Emefiele and Chief Executive Officers (CEOs) of banks will converge tomorrow at the Banks’ CEOs Summit.
The event which is being organised by Vanguard Newspaper in collaboration with the CBN and the Bankers Committee, will also be attended and addressed by Dr Kayode Fayemi, Chairman, Governors’ Forum and Governor of Ekiti State; Governor Babagana Zulum of Borno State; and Governor Babajide Sanwo-Olu of Lagos State.
James Emejo in Abuja
The total value of capital importation into the country contracted by 59.65 per cent to $9.68 billion in 2020 compared to $23.99 billion in 2019, the National Bureau of Statistics (NBS) stated yesterday.
This represented the lowest foreign capital inflows since 2017 when the country recorded $12.22 billion.
In 2014, total foreign capital injection stood at $20.75 billion: 2015 $9.64 billion: 2016 $5.12 billion: 2017 $12.22 billion: 2018 $16.81 billion: 2019 $23.99 billion and $9.68 billion in 2020.
According to the Nigerian Capital Importation – Q4 and Full Year 2020 report, which was released by the statistical agency, foreign capital importation further declined by -26.81 per cent to $1.06 billion in the fourth quarter of 2020 compared to $1.46 billion in the preceding quarter and also -71.87 per cent decrease compared to the $3.80 billion recorded Q4 2019.
The total value of capital importation into Nigeria has recorded a huge decline from $23.9 billion recorded in 2019 to $9.68 billion in 2020, the lowest in three years.
According to the data released by the National Bureau of Statistics (NBS) on Friday, this is a decline of 59.65 per cent between 2019 and 2020.
Foreign capital flow into the country stood at $16.81bn in 2018, the NBS data showed.
According to the statistics agency in its full-year capital importation report, Nigeria recorded $1.06 billion in the fourth quarter of last year, a 26.81 per cent drop quarter on quarter.
The report shows that the largest amount of capital importation was received through other investments which recorded $783.26 million, followed by foreign direct investment and portfolio investment.
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