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.
The
NBS stated that total capital imported into the Nigerian economy in Q2 2014 was
$5.804 billion, rising by $1.899 billion or 48.64 per cent from $3.905 billion
recorded in the opening quarter of this year.
“Relative
to the $5.618 billion recorded in the corresponding quarter of 2013, capital
importation demonstrated positive year on year growth of
