Renowned journalist and broadcaster, Oseni Rufai has disclosed the absence of foreign investment in the oil and gas sector in Nigeria since the first quarter of 2024.
This statement by Rufai was confirmed by the National Bureau of Statistics (NBS)
Rufai made this statement in a post on his Twitter handle on Monday.
He stated that despite efforts by the federal government to attract more foreign investors into the oil and gas sector, the nation’s foreign capital investments in the industry have declined from $720m in 2016 to $3.64m in the entire 2023.
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His post reads, “Despite efforts by the government to attract more foreign investors into the oil and gas sector, the nation’s foreign capital investments in the industry nosedived from $720m in 2016 to $3.64m in the entire 2023.
“The country also recorded no foreign capital investment in the first quarter of 2024, a report by the National Bureau of Statistics showed.
“The report indicated that out of the $3.38bn capital importation into Nigeria in the first three months of 2024, the petroleum industry got nothing,” he said.
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