34 states recorded zero

The National Bureau of Statistics (NBS) says two states and the Federal Capital Territory (FCT) contributed to the country’s capital importation in the first quarter (Q1) of 2024.

In a report on Monday titled ‘Nigeria Capital Importation Q1 2024,’ NBS said the country recorded $3.38 billion in foreign investments, up from $1.09 billion reported in Q4 2023.

This represents a 210 percent quarter-on-quarter increase.

On a year-on-year basis, the bureau said capital importation rose by 198.06 percent from $1.13 billion recorded in Q1 2023.

Also, according to the report, with over $2.78 billion recorded, Lagos accounted for 82 percent of the total foreign capital inflow into Nigeria.

FCT followed with $593.58 million and Ekiti recorded $12,750.

TheCable Index analysis showed that 34 states did not generate any foreign investment between January and March 2024.

STATES THAT FAILED TO ATTRACT FOREIGN INVESTMENTS IN Q1 2024

Abia
Adamawa
Akwa Ibom
Anambra
Bauchi
Bayelsa
Benue
Borno
Cross River
Delta
Ebonyi
Edo
Enugu
Gombe
Imo
Jigawa
Kaduna
Kano
Katsina
Kebbi
Kogi
Kwara
Nasarawa
Niger
Ogun
Ondo
Osun
Oyo
Plateau
Rivers
Sokoto
Taraba
Yobe
Zamfara
Also, the NBS report showed that foreign portfolio investment (FPI) was the top source of capital importation with $2.08 billion, accounting for 61.48 percent, followed by other investments with $1.18 billion, accounting for 34.99 percent.

FDI recorded the least with $119.18 million (3.53 percent) in Q1 2024.

https://www.thecable.ng/lagos-fct-attracted-3bn-foreign-investments-in-q1-2024-34-states-recorded-zero/amp/

Where is our Abia Rwanda??

Some people

Is a lie. Anambra alone attracted 3 times all the states combined.

So Abia state Governor was deciving abians all this while with all his foreign trip wasting tax payers money

Developers' states no dey there

Richtaiwo:
Is a lie. Anambra alone attracted 3 times all the states combined.

Anambra wey obidaft buid

CilicMarin:
Where is our Abia Rwanda??

Nah envy and jealousy wan keel u, abia is more developed than dubai

Soludo professor your state is not on the list disgraceful the university that gave you that honour of professor should take it back.

Davido your uncle's state is not here shameful I'm not surprised it's PDP so not so disappointed. He promised to do alot at the end dancing to see hunger continue in his state.

Ibadan your governor is not blessed with ideas so let us just forget it, again PDP state don't expect anything new.
Port Harcourt again PDP state looting oil money with blocked head.
Abuja that figure is shocking for a state capital. Wike focus on investment in Abuja. It's the jobs of local authorities to build roads.

One guy in his room posted trash and you guys are there attacking yourselves. Nairaland need to be shut down again.

CilicMarin:
Where is our Abia Rwanda??

Where is your Ogun IGR bigger than Moscow?

If I'm president or governor FDI would be seriously discouraged unless u want to come and produce what u would export

Nothing kills a developing economy faster than FDI .. The capital flight that comes with them is always negative unless they produce for export

Two, they make your economy too fragile, can't really absorb shockes
Let's take South East as an example... The reason South East still has an economy today is because 98% of the economy is locally owned so even with the insecurity they have no where else to stay

Imagine foreigners own most businesses in Igbo land by now it would have been worse

Today IMO state is Nigerian second largest economy moving up from 4th

This is why I fear for Lagos if Nigeria ever restructure the capital flight would cripple it for 20 years minimum

CilicMarin:
Where is our Abia Rwanda??

Aba needs government financial support to aquire modern equipment and knowledge transfer.

slimfit1:
Soludo professor your state is not on the list disgraceful the university that gave you that honour of professor should take it back.

Davido your uncle's state is not here shameful I'm not surprised it's PDP so not so disappointed. He promised to do alot at the end dancing to see hunger continue in his state.

Ibadan your governor is not blessed with ideas so let us just forget it, again PDP state don't expect anything new.
Port Harcourt again PDP state looting oil money with blocked head.
Abuja that figure is shocking for a state capital. Wike focus on investment in Abuja. It's the jobs of local authorities to build roads.

Why should Anambra want foreign investors?
What can the foreigners do that the locals can't do?

When Nigeria restructure na that time most Nigerians go understand dangers of FDI

This is what igbos do locally na.. Invest 100 million move billions home after few years

mrvitalis:

Why should Anambra want foreign investors?
What can the foreigners do that the locals can't do?

When Nigeria restructure na that time most Nigerians go understand dangers of FDI

This is what igbos do locally na.. Invest 100 million move billions home after few years

Yes you need government financial support. The governor still need to invest in financial services in his state someone of his calibre should know what to do.

slimfit1:


Yes you need government financial support. The governor still need to invest in financial services in his state someone of his calibre should know what to do.

What has what you wrote up there has to do with FDI

Any person with economics knowledge know that FDI is detrimental to development of a developing economy unless it's producion for export

So Anambra should be the last name u see on list like this if soludo is smart

mrvitalis:

What has what you wrote up there has to do with FDI

what

slimfit1:
what

Bros what re you saying... U want a professor of macro economics to go and seek FDI? Lmaooo

Na wah ooh

Richtaiwo:
Is a lie. Anambra alone attracted 3 times all the states combined.

Pls we need proof, this is not time for chest beating

Tinubu paid foreign investors to ignore our region. That's why Nnamdi kanu warned us to stay away from the zuuu, instead of them to come and invest in our land, after we sit at home on Monday and kill police men for fun, they are taking the investment to Yoruba land.

Ekiti 12k dollars. Lawd ve mercy.

See as everything is going wrong in the country

This has nothing to do with any particular state but with the country at large. Normally that figure would have been more if the economy is good.

yarimo:
So Abia state Governor was deciving abians all this while with all his foreign trip wasting tax payers money

The man is pushing powder on each travel. No governor from that volatile inorganic region can attract a $1 investment geometric plant is already sliding into comatose

So $12,500 that boys spend in a club in one night，is now classsified as direct foriegn investment....how about the billions of naira local investors has been investing in some states.pls remove Ekiti from that list.

mrvitalis:

Bros what re you saying... U want a professor of macro economics to go and seek FDI? Lmaooo

Na wah ooh

What is FDI

CilicMarin:
Where is our Abia Rwanda??

FDI for Abia state is still being developed, once they kick off production it will be counted, wait for the year's report.


Meanwhile, Abia is somewhat leader in Indeginous Investment ( II )

Developers' states no dey there ... Hmm, need help with your academic papers? Contact us.

igbos hate this news

Lagos again?

These guys must be doing something right.

But we must borrow again and again