Capital Investment Destinations in Nigeria for 2021

According to the National Bureau of Statistics, 24 states in Nigeria attracted zero foreign investments in 2021 as the value of capital importation into Nigeria fell by 30.78% to $6.7B in 2021 from $9.68B in 2020.

The report affirmatively notes that among these 24 states, 10 have failed to attract any foreign investments in the last 3 years.

However, the State of Osun has made the list of top 5 states in Nigeria who have been able to attract foreign investments into their states despite the rarity of interests by foreign investors.

According to the National Bureau of Statistics, Osun attracted a total of $29.9 million into the state in 2021. The state was rated 3rd after Lagos, the former capital of Nigeria and economic hub of the country and Abuja, the Nation's Capital. Kano, Kaduna, Anambra and Oyo were rated after Osun in the 2021 rating.

Recall, that the Governor Adegboyega Oyetola administration set up the Osun Investment Promotion Agency in November 2019 with a mandate to facilitate investor interest and promote the inherent investment opportunities within Osun in addition to managing and executing the requirements for promoting an Enabling Business Environment for businesses to thrive.

OSIPA has since its creation shared a seamless relationship with the Nigerian Investment Promotion Commission(NIPC) and the Presidential Enabling Business Environment Council (PEBEC) which has brightened and improved the prospect investment attraction and Ease of Doing Business in the state as evidenced by Osun’s upward movement from the 26th position to the 15th position in the Enabling Business Environment ranking among all 36 states and the FCT in April 2021.

Today, Osun is one of the States in Nigeria operating the EoDB One-Stop Shop effectively to remove the bureaucratic hurdles often encountered when registering and setting up a new business.

Speaking on this development, the Chief Executive Officer, Osun Investment Promotions Agency who also doubles as Special Adviser to the Governor, Mr. Femi Adeniran while expressing gratitude to the leadership team of the Osun State Government for their support reiterated the vision of Governor Oyetola towards ensuring Osun takes its pride of place as a desired Investment Destination in Nigeria.

Adeniran commended Governor Oyetola for the exemplary leadership he has provided in the state which has earned the state the accolade. He also commended the Commissioner of Finance, Alhaji Bola Oyebamiji, for the good work he and other members of the economic team are doing in the state.

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