NewsNigeria news

28 States Fail To Attract Foreign Investment Into Nigeria

28 Nigerian states have neglected to draw in foreign investment in the first quarter of 2023, the Public Agency of Measurements (NBS) uncovered.

28 States Fail To Attract Foreign Investment Into Nigeria
Foreign Investment Into Nigeria

Gist legit reports that NBS said Nigeria’s capital inflows developed by 6.78 percent in the first quarter of 2023 without the aid of 28 states.

The report held that imported capital reached $1.13 billion, up from $1.06 billion in the first quarter of 2022.

The following 28 states failed to attract foreign investment in the first quarter of 2023, according to the NBS report:

  1. Abia
  2. Bauchi
  3. Bayelsa
  4. Benue
  5. Borno
  6. Cross River
  7. Delta
  8. Ebonyi
  9. Edo
  10. Enugu
  11. Gombe
  12. Imo
  13. Jigawa
  14. Kaduna
  15. Kano
  16. Katsina
  17. Kebbi
  18. Kogi
  19. Kwara
  20. Nasarawa
  21. Osun
  22. Oyo
  23. Plateau
  24. Rivers
  25. Sokoto
  26. Taraba
  27. Yobe
  28. Zamfara

In the first quarter, Lagos came out ahead of other states and the Federal Capital Territory (FCT) to top the list of states attracting the most investment.

Also: “Shallipopi is a thief” — Portable fumes as singer hits top 3 on music chart on apple music (Video)

The examination showed that the nation’s significant business cities pulled in $704.87 million or 62 percent of the all out capital inflows in Nigeria.

Recently, Lagos Governor Babajide Sanwo-Olu reassured investors that the nation was “the crown subnational jewel of the African economy.” and that it was a good place to invest.

Sanwo-Olu said that in financial technology, educational technology, medical technology, Business Process Outsourcing (BPO) talent training and placement, and physical infrastructure like data centers could all be invested in in Lagos.

In the meantime, the NBS report said that with $410.27 million, the FCT was the second largest investment place to invest, bringing in 36% of the country’s total capital.

In the first quarter of 2023, Akwa Ibom received $5.21 million, Adamawa received 4.5 million, Anambra received $4 million, and Ogun received 2.09 million.

With a total of $1.5 million, Niger, Ondo, and Ekiti topped the list.

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *