Lagos, Abuja, Abia Lead 6 Nigerian States with Most Foreign Investments in 1 Year
- The National Bureau of Statistics (NBS) has listed the top Nigeria states with the most foreign investments in one year
- The report listed Lagos, Abuja, and Abia as the top investment destinations for investors
- Also, the report stated that Nigeria’s capital importation in one amounted to about $8.75 billion between June 2023 and June 2024
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
A new report by the National Bureau of Statistics said that about six Nigerian states and Abuja attracted foreign investments between June 2023 and June 2024.
The NBS report on capital importation for the second quarter of 2024, released by the NBS on Tuesday, October 8, 2024, disclosed that Total Capital Importation for the review period was about $8.75 billion.
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NBS report debunks Tinubu’s claim on FDI
The report said that the same period's foreign direct investment (FDI) amounted to an abysmal $478.78 million.
The NBS report debunks President Bola Tinubu’s October 1, 2024, claim that the country attracted about $30 billion in foreign direct investment in one year.
Tinubu disclosed in his Independence Day broadcast to Nigerians that the country attracted FDI worth over $30 billion in the past year.
According to the NBS report, Lagos led the list of states with the most foreign investments, with $5.95 billion between the second quarter of 2023 and 2024.
Top states with the most FDI
- Lagos— $5.95 billion
- FCT — $2.59 billion
- Abia — $150.09 million
- Akwa Ibom — $33.92 million
- Ogun — $25 million
- Rivers — $6.00 million
- Ekiti — $59,500
26 Nigerian states with zero foreign investments in 2024
Legit.ng earlier reported that foreign investors shunned 26 Nigerian states as Nigeria’s capital imported hit $2.60 billion in the second quarter of 2024, representing a solid increase of 152.82% yearly relative to the $1.03 billion recorded in the same period in 2023.
The National Bureau of Statistics (NBS) disclosed this in its latest capital importation report for Q2 2024.
The report said that the number of Nigerian states without investments declined from 27 in the second quarter of 2023 to the same period this year.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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