26 Nigerian states record zero foreign investment in 2020

Twenty six states in Nigeria including Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Gombe, Imo, Jigawa, Katsina, Kebbi, Kogi, and 10 other states governments failed to attract investments in 2020, a report by the National Bureau of Statistics (NBS) has revealed.

Others listed in the report are Kwara, Nasarawa, Ondo, Osun, Oyo, Plateau, Rivers, Taraba, Yobe, Zamfara

The NBS’s capital importation report for 2020 released on Friday contains the total amount of fresh investments attracted to the Nigerian economy.

READ ALSO: Oil producing states squandered over N6trn from 13% derivative in 13 years –Report

This is the second year that Ebonyi, Ekiti Gombe, Kebbi, Kogi Taraba, Yobe, Zamfara have failed to lure foreign investors in the states or the environments were simply not conducive for investment.

As expected, Lagos topped the list of states that attracted investments in 2020.

Lagos State emerged as the top destination of capital investment in Nigeria in 2020 with $830m. This accounted for 85.7 percent of the total capital inflow into the country.

Lagos is followed by the Federal Capital Territory which attracted a total investment inflow of $1.27 million while Abia came in third attracting the sum of $56.07 million

Niger attracted $16.36 million. Ogun State also attracted a total investment inflow of $13.39 million.

Anambra got $10.02 million, Kaduna attracted $4.03 million, Taraba pulled $ 2.50 million, and Kano received $2.38 dollars.

Akwa Ibom, Adamawa both welcomed $1.05 million and $0.02 million respectively in 2020.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now