FULL LIST: Osun, Imo, Kogi… 28 states attracted zero foreign investments in Q1 2023

Foreign investors overlooked 28 states as the value of
capital importation into Nigeria grew by 6.78 percent in the first quarter of
2023, according to the National Bureau of Statistics (NBS).

The total capital imported stood at $1.13 billion, up from
the $1.06 billion recorded in Q4 2022.

According to the NBS report, the 28 states that failed to
attract foreign investment in Q1 2023 include:

·        
Delta

·        
Ebonyi

·        
Edo

·        
Enugu

·        
Gombe

·        
Imo

·        
Jigawa

·        
Kaduna

·        
Kano

·        
Katsina

·        
Kebbi

·        
Kogi

·        
Kwara

·        
Nasarawa

·        
Osun

·        
Oyo

·        
Plateau

·        
Rivers

·        
Sokoto

·        
Taraba

·        
Yobe

·        
Zamfara

LAGOS A MAGNET FOR
INVESTORS

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

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 $410.27 million — representing 36 percent of
the total capital inflow in the country.

Other states that attracted foreign investments in Q1 2023
are Akwa Ibom ($5.21 million), Adamawa ($4.50 million), Anambra ($4 million),
and Ogun ($2.09 million).

Niger made the list with $1.50 million, Ondo had $0.20
million, and Ekiti secured $0.01 million.