Foreign investors ignored 28 states as the value of capital importation into Nigeria fell by 30 percent to $2.16 billion in the first half of 2023, from $3.11 billion in the same period last year.

The National Bureau of Statistics (NBS) disclosed this in its latest capital importation report for the second quarter (Q2) of 2023.

Nigeria’s capital imports for the first half of 2023 totalled $2.16 billion, with $1.13 billion imported in Q1 and $1.03 billion in Q2.

According to the NBS report, the 28 states that failed to attract foreign investment in H1 2023 include:

Abia
Bauchi
Bayelsa
Benue
Borno
Cross River
Delta
Ebonyi
Edo
Enugu
Gombe
Imo
Jigawa
Kaduna
Kano
Katsina
Kebbi
Kogi
Kwara
Nasarawa
Osun
Oyo
Plateau
Rivers
Sokoto
Taraba
Yobe
Zamfara


LAGOS: A GlOBAL DESTINATION FOR FOREIGN INVESTORS

In the period under review, Lagos took the lead, outshining others — and the federal capital territory (FCT) — to top the list of states that attracted the most investments.

Analysis by TheCable Index shows that the country’s major commercial city attracted $1.48 billion, representing 69 percent of the total capital inflow into Nigeria.

Babajide Sanwo-Olu, governor of Lagos, recently assured investors that the state is the right place for investments and “the crown subnational jewel of the African economy”.

He said Lagos was ripe for investments in financial technology, education technology, health technology, business process outsourcing (BPO), talent training and placement, or physical infrastructure like data centres, among others.

According to the NBS report, the FCT emerged as the second top investment destination with $604.55 million — representing 28 percent of the total capital inflow in the country in the first six months of the year.

Other states that attracted foreign investments in the half-year period are Akwa Ibom ($39.1 million), Adamawa ($4.5 million), Anambra ($4 million), and Ogun ($26.1 million).

Niger made the list with $1.50 million, Ondo had $200,000, and Ekiti secured $25,500.

duro4chang:
Headless mob will fight you here today. Always playing victim mentality

Smithkafors:


You are the one who is headless. How does you comment contribute to the above?.

mrvitalis:
Good afternoon everyone

I for one dont see the use of FDI for a developing economy at all

In fact FDI is anti development for a developing nation

FDI only makes sense if the investor relocats ans stays in the place he is investing

For an economy to grow ( money coming in -money going out) >0 ....

It's that simple

So am economy X worth $### ... And investor invests $100 ... The economy of X becomes $###+100

But that same investors takes out $1000 over 5 years in profit

All this being equal the economy would then be $###+100 -$###+1000 ... So the economy decreased by $900 dollars


The best way to grow and economy is to give your people ( that's have show capacity) credit to start to produce a) things you import at a comparative rate b) things you can export

It's not rockets science

duro4chang:
Headless mob will fight you here today. Always playing victim mentality

Babajide Sanwo-Olu, governor of Lagos, recently assured investors that the state is the right place for investments and “the crown subnational jewel of the African economy”.

Smithkafors:


You are the one who is headless. How does you comment contribute to the above?.

mrvitalis:
Good afternoon everyone I for one dont see the use of FDI for a developing economy at all In fact FDI is anti development for a developing nation FDI only makes sense if the investor relocats ans stays in the place he is investing For an economy to grow ( money coming in -money going out) >0 .... It's that simple So am economy X worth $### ... And investor invests $100 ... The economy of X becomes $###+100But that same investors takes out $1000 over 5 years in profit All this being equal the economy would then be $###+100 -$###+1000 ... So the economy decreased by $900 dollars The best way to grow and economy is to give your people ( that's have show capacity) credit to start to produce a) things you import at acomparative rate b) things you can exportIt's not rockets science

duro4chang:
Headless mob will fight you here today. Always playing victim mentality

mrvitalis:
Good afternoon everyone

I for one dont see the use of FDI for a developing economy at all

In fact FDI is anti development for a developing nation

FDI only makes sense if the investor relocats ans stays in the place he is investing

For an economy to grow ( money coming in -money going out) >0 ....

It's that simple

So am economy X worth $### ... And investor invests $100 ... The economy of X becomes $###+100

But that same investors takes out $1000 over 5 years in profit

All this being equal the economy would then be $###+100 -$###+1000 ... So the economy decreased by $900 dollars


The best way to grow and economy is to give your people ( that's have show capacity) credit to start to produce a) things you import at a comparative rate b) things you can export

It's not rockets science

Smithkafors:


You are the one who is headless. How does you comment contribute to the above?.

LegendHero:


What is the disadvantage of FDI in today Nigeria?

How does the current inflow of FDI affect the growth of Nigeria?

Lastly, why do you have to type this long epistle and what is your main aim?