Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad - Politics

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Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad (15559 Views)

27 States Attracted Zero Foreign Investments In 9 Months / Kaduna, Abia, Rivers… 28 States Attracted Zero Foreign Investments In Six Months / Rivers, Kano, Abia… 27 States Attracted Zero Foreign Investments In 2022 (2) (3) (4)

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Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Islie: 11:11am On Feb 21

The country’s capital importation increased by 66.27 per cent to $1.08 billion in the fourth quarter of last year (Q4 2023), compared to $654.65 million in the preceding quarter, the National Bureau of Statistics (NBS) disclosed yesterday.

This was also slightly higher than $1.06 billion recorded in Q4 2022 by 2.62 per cent.

According to the Nigerian Capital Importation Report for the review period, Lagos State remained the top destination for foreign capital inflows into the economy with $771.68 million, accounting for 65.38 per cent of total importation.

This was followed by the Federal Capital Territory (FCT) with $370.80 million or 34.07 per cent and Rivers State with $6.00 million or 0.55 per cent and Ekiti with $0.01 million.

Despite foreign trips abroad allegedly to woo investors, the report revealed the quantum of resources squandered by state government officials in the guise of attracting capital inflows.

Nonetheless, the NBS stated that Other Investment type accounted for 54.64 per cent or $594.74 million of total capital importation in Q4.

This was followed by Portfolio Investment with $309.76 million or 28.46 per cent of total share.

Foreign Direct Investment (FDI) amounted to $183.97 million or 16.90 per cent.

According to the NBS, the production/manufacturing sector recorded the highest inflow with $450.11 million, representing 41.35 per cent of total capital imported in the review period.

This was followed by the banking sector, which represented $283.30 million 26.03 per cent and financing which contributed $135.59 million or 12.46 per cent.

Capital Importation during the reference period originated largely from the United Kingdom with $267.24 million, with a share of 24.55 per cent.

This was followed by Mauritius with $226.18 million or 20.78 per cent and The Netherlands with $149.93 million or 13.77 per cent.

Others include Singapore, $144.25 million, and South Africa with $116.37 million.

Under the review period, agriculture-related investment amounted to $0.42 million, construction, $0.25 million, IT Services $9.08 million, financing $135.59 million, oil and gas $2.04 million and telecoms $22.84 million as well as transport $0.14 million among others.

https://www.thisdaylive.com/index.php/2024/02/21/despite-govts-trips-abroad-only-four-states-attracted-1-08bn-capital-inflows-in-q4-2023

5 Likes 1 Share

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by danijesus(m): 11:13am On Feb 21

Na statistics we go chop?

54 Likes 3 Shares

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Racoon(m): 11:13am On Feb 21

Governors are just using those investment drives as means to embezzle money especially estacodes

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Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by hedeybody: 11:16am On Feb 21

There are trade shows. Where manufacturers meet the people aboard during summer in usa and canada . That is what embassy should be attending.
I will be posting the date on T hisGlobe.com

3 Likes

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Parydelegate: 11:22am On Feb 21

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by crossfm: 11:23am On Feb 21

Hehehe.

It's only a fool that will believe that these kleptomenias who calls themselves government officials went out to attract foreign investors.

These glutinous government officials went on a jamboree and health check up.

These guys are not for the masses. They only know themselves and family. That's why I find it very troubled when people still come on line to defend them on empty stomach.

31 Likes 4 Shares

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by yarimo(m): 11:42am On Feb 21

So Governor Alex otti of ABIA STATE has been lying and wasting tax payers money with all this foreign Trip undecided

16 Likes 4 Shares

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Cindypresh(f): 11:44am On Feb 21

Op your president is not interested in statistics...he doesn't even want to hear it.

We're not interested in any stat from this propaganda govt that won't reduce the price of commodity in the market

3 Likes 2 Shares

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Cindypresh(f): 11:52am On Feb 21

yarimo:
So Governor Alex otti of ABIA STATE has been lying and wasting tax payers money with all this foreign Trip

Don't you have a state?? Did otti snatch your wife?🙄

Did you see your okitipupa there?? Btw, when did you start caring about statistics

36 Likes 2 Shares

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by yarimo(m): 12:34pm On Feb 21

Cindypresh:

Don't you have a state?? Did otti snatch your wife?🙄

Did you see your okitipupa there?? Btw, when did you start caring about statistics

Otti must not defraud ABIA STATE undecided

18 Likes 5 Shares

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by saddler: 2:51pm On Feb 21

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by ArewaNightmare: 2:51pm On Feb 21

they only travel abroad for owambe

5 Likes

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Typing: 2:52pm On Feb 21

You can never see States like
Anambra
Enugu
Abia
Imo
Ebonyi, make this kind list. Na only when them mention bad news you go see them. Too bad aswear

19 Likes 6 Shares

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by santaclaws: 2:53pm On Feb 21

"despite government trips abroad" 😂😂😂

As if we don't know that most of their trips abroad are disguised vacations with taxpayers' money. How could they have attracted investments? They don't have a clue...

Imagine how many delegates went for climate change summit... Nigeria wey never fix electricity dey carry overload go climate summit.

Customs, NPA etc, are always sending staff abroad for "training" when the same courses could be done online.

The political class are the real enemies of this country! A wasteful set of people!

3 Likes

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Righthussle: 2:54pm On Feb 21

FCT wike I see you.

2 Likes

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Nairalander321: 2:54pm On Feb 21

Speechless

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Generalyemi(m): 2:54pm On Feb 21

Just forget Nigeria

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by englishmart(m): 2:55pm On Feb 21

Most Nigerians have amnesia. They forget their sufferings so quickly and realign with the next or the same oppressor.

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Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Lalami3232(m): 2:55pm On Feb 21

Nigeria my country grin

I was in a public transport yesterday and a woman was defending this government with everything she had. The passion with which she defended the government was what surprised me. I only smiled and said "madam no worry,vna me go first vote APC in 2027 in my community ".
Anyways, let me share the good news to all men worldwide before exiting this thread.

Oga if you know say you no meet your wife as a virgin, oga go for DNA test oooooo because boreholes aka non-virgins can't be trusted

1 Like

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Mindlog: 2:56pm On Feb 21

Racoon:
Governors are just using those investment drives as means to embezzle money especially estacodes

Also visa racketeering, some whose names were smuggled into the list of entourage, don't return back to Nigeria with the Governor. cheesy

3 Likes

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Samade7: 2:56pm On Feb 21

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by banku: 2:57pm On Feb 21

Yes, ignoramus. Ekiti Pupa made it. Read slowly again.

Cindypresh:

Don't you have a state?? Did otti snatch your wife?🙄

Did you see your okitipupa there?? Btw, when did you start caring about statistics

4 Likes 2 Shares

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Talkisneeded: 2:57pm On Feb 21

Na stat we go chop....

I sell herbs jaree

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Freestar: 2:57pm On Feb 21

Kpangolo govt.

Government of empty vessels and noise makers.

No serious investor abroad will take a govt. Headed by a thug, a known conman, a certificate forger and an election rigger serious.

Unlike the Nigerians enabling and supporting this government like to do, foreign investors do no believe in deceiving or lying to themselves. They are not fooled.

No matter the amount of empty grammar or rhetoric or promises that these people dish out to investors on those owambe trips, they know that insofar as the foundation is faulty, the tangibles that must be in place for the system to run are not in place, any talk about investment cannot be trusted.

Who do you think will trust you when your justice system, your electoral system can be tampered with at will; when you are only paying lip service to the security of your people, there is no investment or infrastructure security, the power infrastructure on which to build your investment is almost non-existent.

When People who have been doing business in the country, some who have been here for generations are leaving due to the unbearable business climate you have created in the less than one year you have been in power. And you are telling me to bring my money to come and develop your economy, and you want me to come, when am not crazy. 😆

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Pipefitter: 2:57pm On Feb 21

Ekiti only $10k

1 Like

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by farem: 2:57pm On Feb 21

danijesus:
Na statistics we go chop?

As ẹ no pay you!

1 Like

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by oz4real83(m): 2:58pm On Feb 21

My governor has been signing MOUs for seven years, he has less than one year to spend but still no foreign investments angry

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Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by DystopianMuse(f): 3:00pm On Feb 21

Another pillar of our problem as a country. A country that can't attract FDIs is bound to suffer. Even china needs one talkless of naija

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by EmperorCaesar(m): 3:03pm On Feb 21

yarimo:
So Governor Alex otti of ABIA STATE has been lying and wasting tax payers money with all this foreign Trip

No be that one wey spend 1BN on top food for just 3months??

With his traditional head shape, doesnt he look clueless to u?? cheesy

2 Likes 1 Share

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by Haaland21: 3:04pm On Feb 21

The sore losers would keep wailing. No developer would rule lagos. Eko oni baje....
Lagos leads........

5 Likes 2 Shares

Re: Only Four States Attracted $1.08bn Capital Inflows, Despite Govts’ Trips Abroad by vanitybutiwanti: 3:05pm On Feb 21

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