In the second quarter of 2024, foreign investors bypassed 26 states in Nigeria as the country’s capital importation reached $2.60 billion, marking a 152.81% year-on-year increase compared to $1.03 billion in Q2 2023.
This data was revealed in the latest capital importation report released by the National Bureau of Statistics on Tuesday.
Lagos State continued to dominate as the top destination for foreign investments, attracting $1.37 billion, or 52.52% of total capital inflows. Abuja followed closely, receiving $1.24 billion, which accounted for 47.48% of the total.
The number of states with no recorded investments slightly decreased from 27 in Q2 2023 to 26 in Q2 2024. The 26 states that did not attract any foreign investments during this period are:
- Bauchi
- Bayelsa
- Benue
- Borno
- Cross River
- Delta
- Ebonyi
- Edo
- Enugu
- Gombe
- Imo
- Jigawa
- Kaduna
- Kano
- Katsina
- Kebbi
- Kogi
- Kwara
- Nasarawa
- Osun
- Oyo
- Plateau
- Sokoto
- Taraba
- Yobe
- Zamfara
This uneven distribution of investments highlights the continued concentration of foreign capital in Lagos and Abuja, while other regions remain underrepresented in foreign direct investments.
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