Business

Nigeria: 28 States Fail to Attract Foreign Investment Amid 6.78 Percent Capital Importation Growth – Report


No fewer than 28 states have failed to attract foreign investments as the value of capital importation into Nigeria grew by 6.78 percent in the first quarter of 2023.

This development was captured in a report released by the National Bureau of Statistics (NBS).

According to the NBS, the total capital imported stood at $1.13 billion, up from the $1.06 billion recorded in Q4 2022.

The 28 states that failed to attract foreign investment in Q1 2023 include:

Abia

Bauchi

Bayelsa

Benue

Borno

Cross River

Delta

Ebonyi

Edo

Enugu

Gombe

Imo

Jigawa

Kaduna

Kano

Katsina

Kebbi

Kogi

Kwara

Nasarawa

Osun

Oyo

Plateau

Rivers

Sokoto

Taraba

Yobe

Zamfara

In the quarter under review, Lagos took the lead as it outshined others — and the federal capital territory (FCT) — to top the list of states that attracted the most investments.