The capital importation of companies operating in the telecommunication industry has reduced drastically in the second quarter of 2018 compared with the same quarter of last year.

An analysis of the second quarter 2018 capital importation report published by the National Bureau of Statistics indicated that there was a 94 per cent reduction in capital importation year-on-year.

In the second quarter of 2017, the total value of capital inflow into the country was $174.18m as against $11.12m in the second quarter of this year.

Quarter-on-quarter, there was also a 93 per cent reduction in capital inflow into the country, from $166.68m recorded from January to March this year to $11.12m between April and June.

The report stated that Nigeria’s telecommunication sector only accounted for 0.2 per cent out the $5.5bn capital inflow into the country in the second quarter of this year.

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Telecoms capital importation shrinks by 94%
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