Nigeria: Oil Sector Loses N32 Billion Foreign Investment

23 September 2014

The non-passage of the Petroleum Industry Bill, PIB, has started to take its toll, as foreign investments into the oil and gas sector dropped by $197.31 million, about N31.6 billion in three months, between April and June 2014.

According to the second quarter, Q2, Nigerian Capital Importation Report, released by the National Bureau of Statistics, NBS, the oil and gas sector accounted for 0.07 per cent of total capital imported into Nigeria with $3.83 million, about N612.8 million.

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