About 30 state governments could not attract any form of fresh investments into their states between January and June this year, an analysis of a capital importation report obtained from the National Bureau of Statistics has shown.

The report revealed that only five states within the first six months of this year recorded any form of fresh investment inflow in key sectors of the economy.

The states that got new investments are Lagos State, which attracted the highest amount of $2.6bn during the six months period, followed by Akwa Ibom with $52.44m.

The Federal Capital Territory followed with $31.51m while Ogun State attracted fresh investment inflows of $5.31m; Oyo had $5.25m, and Rivers recorded $550,000 of investments.

The states that could not attract any form of investment inflows are Abia, Adamawa, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Gombe, Imo, Jigawa, Kaduna and Kano.

Others are Katsina, Kebbi, Kogi, Kwara, Nasarawa, Niger, Ondo, Osun, Plateau, Sokoto, Taraba, Yobe and Zamfara.


The document from the NBS gave the sectors where the funds were invested as shares, which had the highest amount of $932.58m; agriculture, $23.71m; banking, $89.8m; brewing, $4.83m; construction, $1.71m; and consultancy, $4.2m.

Others are drilling, $1.21m; electrical, $6.38m; financing, $57.31m; Information Technology services, $6.28m; marketing, $90,000; oil and gas, $190.39m; and production, $141.42m.

The rest are servicing, $145.56m; hotels, $170,000; telecoms, $174.18m; and trading, $12.53m.

The President, Abuja Chamber of Commerce and Industry, Mr. Tony Ejinkeonye, told our correspondent that a lot of investors would continue to adopt what he described as a “wait and see attitude” owing to the tough economic environment in the country

Benekruku:
"The states that got new investments are Lagos State, which attracted the highest amount of $2.6bn during the six months period, followed by Akwa Ibom with $52.44m.

The Federal Capital Territory followed with $31.51m while Ogun State attracted fresh investment inflows of $5.31m; Oyo had $5.25m, and Rivers recorded $550,000 of investments."





[s]At this pace, Its glaring beyond all doubts that Ogun state is the next big thing to happen to Nigeria. Ogun is rising at a very fast pace which I believe is because of its close proximity to Lagos.

Would have been so good if Oyo state can take a clue and tap into its close proximity with Lagos!
[/s]

Lushore1:
It's nice to see Akwa Ibom on the list but Ogun state need to do more. In fact I expect more considering the fact that Lagos state in the same period attracted 2.6bn dollars.

Oyo state did very well as well...

navyseal2220:


Afonja and their propaganda. Yes Ogun is the best thing you have, if ask you to separate to enjoy Ogun alone, you say NO but continue to enjoy Niger Delta oil while claiming Ogun is the best thing. Who are you deceiving Afonja?

Maduawuchukwu:
I doubt this report. What comprises investment? If it is any asset that produces income then this report is false. I have seen shopping malls springing up in Kaduna and Imo just between January and now and they say no new investment.

...In addition, data generated from MAN survey also showed that 69.9 per cent of total manufacturing investment in the review period, which stood at N448.94 billion, went to Ogun; thus retaining the zone as the investment haven of the nation.

Breakdown revealed that investment in Ogun increased to N313.62 billion in the review period from N302.26 billion of the corresponding half of 2015; indicating N11.36 billion increase over the period. It also increased by N259.07 billion when compared with N54.55 billion recorded in the preceding half.

navyseal2220:


Afonja and their propaganda. Yes Ogun is the best thing you have, if ask you to separate to enjoy Ogun alone, you say NO but continue to enjoy Niger Delta oil while claiming Ogun is the best thing. Who are you deceiving Afonja?

navyseal2220:


Afonja and their propaganda. Yes Ogun is the best thing you have, if ask you to separate to enjoy Ogun alone, you say NO but continue to enjoy Niger Delta oil while claiming Ogun is the best thing. Who are you deceiving Afonja?

Maduawuchukwu:
I doubt this report. What comprises investment? If it is any asset that produces income then this report is false. I have seen shopping malls springing up in Kaduna and Imo just between January and now and they say no new investment.

sukkot:
all 5 igbo states are included

navyseal2220:

[s]
Afonja and their propaganda. Yes Ogun is the best thing you have, if ask you to separate to enjoy Ogun alone, you say NO but continue to enjoy Niger Delta oil while claiming Ogun is the best thing. Who are you deceiving Afonja?[/s]

navyseal2220:


Afonja and their propaganda. Yes Ogun is the best thing you have, if ask you to separate to enjoy Ogun alone, you say NO but continue to enjoy Niger Delta oil while claiming Ogun is the best thing. Who are you deceiving Afonja?