(minutes read)
· About 21 states in Nigeria did not attract any investments in the last four months
· Most of the states which failed to attract investments this year also failed in that count in 2019 also
· Lagos topped the list of investments by recording highest investment at US45.9 billion, constituting 87% of the over US$6.17 billion total inflow into the country
About 21 states in Nigeria did not attract any investments in the last four months. The data relating to the state level investments was released by the Central Bank of Nigeria. States like Rivers, Ondo, Edo, Sokoto, Oyo, Abia, and Anambra recorded zero capital importation in the last 4 months. The other states belonging to this category are: Adamawa, Bauchi, Benue, Borno, Cross River, Delta, Ebonyi, Enugu, Imo, Kastina, Kogi, Kwara, Osun, Oyo, Yobe, and Nassarawa.
Most of the states which failed to attract investments this year also failed in that count in 2019 also. Lagos topped the list of investments by recording highest investment at US45.9 billion, constituting 87% of the over US$6.17 billion total inflow into the country. The next in line to attract more investment was National Capital Territory, which accounted for US$ 754 million. This was followed by Niger (US$11 million) Sokoto State (US$ 2.5 million) Kaduna (US$1.98 million) and Ogun US$ 1.70 million).
Performance of Kano (US$ 700,000) and Akwa Ibom (US$ 237,000) are the other recipients of the FDI. It may be noted that these laggard states were not investment hubs even before the onset of the pandemic.
