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Recession: Investment inflow shrinks by N642bn

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By Joseph Inokotong

Nigeria’s economy recorded a total decline of $2.1bn in investment inflow in the first 12 months of the administration of President Muhammadu Buhari. The amount when converted based on the N305.5 per dollar official exchange rate of the Central Bank of Nigeria, translates to about N642bn.

Investigations showed that since July 2015, the country had been experiencing persistent decline in the value of direct and portfolio investments.

 

An analysis of the capital importation report obtained from the National Bureau of Statistics revealed that the country attracted a total investment inflow of $2.75bn in the third quarter of 2015.

 

However, owing to the harsh operating environment coupled with exchange rate uncertainties, the inflow had declined by $2.1bn to $647.1m at the end of June this year.

The report stated that all the three major components of investment such as Foreign Direct Investment, portfolio investment and other investments recorded huge declines in the one-year period.

 

In terms of FDI inflow, an analysis of the report showed that the economy attracted the sum of $717.72m as of the third quarter of 2015.

 

The inflow, according to the report, dropped to $133.02m at the end of the second quarter of this year.

 

For portfolio investment, which is made up of equity, bonds and money market instruments, the report stated that the sum of $1.09bn was invested in the third quarter of last year.

 

The $1.09bn investment, it added, dropped by $673.68m to $245.32m at the end of June this year.

 

For other investments made up of trade credits, loans, currency deposits and other claims, the report stated that the sum of $1.02bn was invested in the economy as of the third quarter of last year as against $268.77m in June this year.

 

The NBS attributed the decline in investment to the harsh economic climate, stating that the investment attracted within the first six months of this year was the lowest in Nigeria’s history.

 

It said, “The continuing decline in the value of capital imported into the economy is symptomatic of the difficult period that the Nigerian economy is going through.

“The second quarter saw the economy enter into the first recession during the rebased period, according to the technical definition of two consecutive periods of decline.

“This may suggest less profitable opportunities for investment. In addition, in the second quarter, there was considerable uncertainty surrounding future exchange rate policy, which may have deterred investors.”

 

Commenting on the drop in investment inflows into the country, financial analysts said the current fiscal and monetary policies of the government were not friendly to investors.

The President, Abuja Chamber of Commerce and Industry, Mr. Tony Ejinkeonye, said that a lot of investors were unwilling to bring in their funds due to the tough economic environment in the country.

 

He said the tough operating environment had led to the closure of so many companies in Nigeria, adding that there was a need for the government to address the structural challenges, which had made the operating environment hostile.

 

He listed some of the areas that were scaring away investors to include uncertainty in the foreign exchange market, hostile business climate, infrastructure deficit and the absence of adequate incentives to attract investors into key sectors of the economy.

Ejinkeonye said that what the country needed currently was for the government to implement a well-articulated industrial plan.

 

This, according to him, is needed in order to begin a new era for industrial development in Nigeria.

 

“The Abuja Chamber of Commerce and Industry has made it known to the government that the issue of power and energy must be urgently addressed in order to promote industry, boost productivity, and attract both foreign and local direct investments.

 

“Power and energy sufficiency is the fulcrum of any meaningful development of the economy. This is the time for us as a nation to start implementing consistent policies geared towards attracting investments that will revitalise our industries”, he said.

 

On his part, he Registrar, Chartered Institute of Finance and Control of Nigeria, Mr. Godwin Eohoi, advised the government to look inwards by encouraging the patronage of locally-produced goods to boost investment activities.

He said, “We have to look inwards to reflate the economy by ensuring the encouragement of local content through patronage of locally-made goods. This will help stimulate production by local industries and thus boost investment.

 

“The government should come up with policies that will encourage investors to set up plants in Nigeria for production rather than spending money importing all these items that are depleting our foreign exchange reserves.

 

“The government should also reduce the interest rate to make funds available for investment in critical sectors of the economy such as agriculture, manufacturing and others”, he added.

 

Eohoi added that since foreign investors were shying away from investing in the country, Nigeria should look inwards and encourage local industries by reducing interest rate and making foreign exchange available to them to continue production.

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BREAKING: Senate to Engage US Lawmakers Over Alleged Christian Genocide in Nigeria

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By: Fabian Apechihin

The Nigerian Senate is set to engage with US lawmakers following renewed debate on alleged targeted attacks against Christians in the country.

The controversy intensified after American TV host Bill Maher, on his HBO program, described the situation as a “silent genocide,” accusing Western media of downplaying mass killings by Boko Haram, ISIS-West Africa, and Fulani militias. He cited claims that over 100,000 Christians have been killed since 2009 and thousands of churches destroyed.

Maher’s remarks were echoed by Republican Congresswoman Nancy Mace, who argued that the crisis had not received the international media attention it deserves.

Government Rejects Genocide Narrative
In response, Nigeria’s Minister of Information and National Orientation, Mohammed Idris, dismissed the claims as misleading and divisive. He emphasized that terrorist groups do not target Christians alone, insisting that Nigerians of all faiths—including Muslims and non-religious citizens—have suffered at the hands of violent extremists.

“Portraying Nigeria’s security challenges as a religious war is a gross misrepresentation of reality,” Idris said.

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Nigeria @ 65: The Worst Is Over, We’ve Turned a New Corner — Tinubu

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By: Fabian Apechihin

President Bola Ahmed Tinubu, in his Independence Day broadcast marking Nigeria’s 65th anniversary, assured citizens that the country has overcome its toughest challenges and is on the path to recovery.

Honouring the Founding Fathers

Tinubu paid tribute to the sacrifices of Nigeria’s independence leaders, including Herbert Macaulay, Nnamdi Azikiwe, Tafawa Balewa, Obafemi Awolowo, Ahmadu Bello, Margaret Ekpo, Anthony Enahoro, Michael Okpara, Aminu Kano, and Funmilayo Ransome-Kuti.
“They believed it was Nigeria’s manifest destiny to lead the black race as the largest black nation on earth,” he said.

Journey So Far

Reflecting on six decades of nationhood, the President noted that Nigeria had endured a civil war, military dictatorships, and political crises but survived with “courage and grit.”
“At Independence, Nigeria had only 120 secondary schools and two tertiary institutions. Today, we have over 23,000 secondary schools, 274 universities, 183 polytechnics, and 236 colleges of education,” he said, adding that the country had made “remarkable progress” in healthcare, telecommunications, aviation, and infrastructure.

Tough Reforms, Signs of Recovery

Tinubu said he inherited a fragile economy distorted by decades of poor policies but chose reform over inaction.
“Our administration ended the corrupt fuel subsidy regime and abolished multiple foreign exchange rates that enriched a few while impoverishing the majority,” he stated.
According to him, the measures are yielding results:

  • GDP grew by 4.23% in Q2 2025, the fastest in four years.
  • Inflation fell to 20.12% in August, the lowest in three years.
  • ₦20 trillion was realised from non-oil revenue by August.
  • Debt service-to-revenue ratio dropped from 97% to below 50%.
  • Foreign reserves climbed to $42.03 billion, the highest since 2019.
  • Oil output rebounded to 1.68 million barrels per day, while Nigeria refined petrol domestically for the first time in four decades.
  • The stock market surged from 55,000 points in May 2023 to 142,000 points by September 2025.

“The worst is over. Yesterday’s pains are giving way to today’s relief,” the President declared.

Tackling Insecurity

Tinubu said security agencies were making gains against insurgency, separatism, and banditry.
“Hundreds of communities have been liberated, with thousands of displaced persons returning home. We salute the gallantry of our armed forces,” he said.

Investing in Youth

Describing young people as Nigeria’s “greatest asset,” Tinubu highlighted ongoing programmes:

  • NELFUND Student Loans: ₦99.5bn disbursed to 510,000 students.
  • Credicorp Loans: ₦30bn given to 153,000 Nigerians for solar, housing, transport, and digital devices.
  • YouthCred: Credit support extended to NYSC members.
  • iDICE Programme: Partnership with AfDB, AFD, and IsDB to boost innovation in digital and creative sectors.

Call for Collective Effort

Acknowledging that reforms have caused temporary hardship, Tinubu urged Nigerians to remain steadfast.
“Our progress must not be measured by statistics alone, but by food on our tables, quality of education, electricity in our homes, and safety in our communities,” he said.

He called on citizens to embrace productivity, pay taxes, support local industries, and contribute to nation-building.
“The dawn of a new Nigeria is here — self-reliant, prosperous, and united. With God on our side, we will overcome. Let all hands be on deck,” he concluded.


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Bandit Kingpin Releases 28 Captives in Katsina Following Peace Deal

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A total of 28 persons abducted by suspected bandits in Faskari Local Government Area of Katsina State have been released without ransom following a peace arrangement with bandit kingpin.

The bandits, led by their commander identified as Isya Akwashi Garwa, handed over the captives to officials of the council on Wednesday.

Zagazola  reports that those released were largely residents of Mairua, Kanen-haki and Yar Dabaru communities.

Local authorities confirmed that the release was the outcome of a reconciliation effort initiated in the area to restore peace and reduce violent attacks.

Community leaders in Faskari described the development as a positive signal and urged both sides to sustain the peace process. They also urged the bandit to force other bandits still attacking in the area to stop.   

A council official, who spoke on condition of anonymity, said: “The captives were released this afternoon without any ransom being paid. The bandit leader fulfilled his promise under the peace talks,”he said.

Meanwhile, residents expressed relief at the safe return of the abductees, with some calling for stronger security guarantees to consolidate the gesture.

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