The naira’s significant depreciation against the US dollar has raised concerns among foreign investors, leading to a withdrawal of investments from Nigeria.
- The fall in foreign inflows is alarming, with the Nigerian Exchange Limited (NGX) reporting a drastic drop to N11.26 billion in September.
- This decline is particularly notable when compared to the N310.99 billion in foreign inflows recorded in the first three quarters of 2024, highlighting a stark contrast to previous years.
- Experts suggest that the ongoing economic instability and fluctuating exchange rates are major factors driving foreign investors away.
- Pascal Oparada from Henzodaily.ng emphasizes the importance of addressing these economic challenges to restore investor confidence and stabilize the market.
