Capital imports decline as 27 states receive no foreign investment.

27 states in all received no foreign investment in 2022, as Nigeria’s capital imports fell by 20% from $6.7 billion in 2021 to $5.3 billion in 2022.

This information is taken from a National Bureau of Statistics study on capital imports into Nigeria.

Net foreign acquisitions of domestic assets are referred to as capital inflows. It displays the total amount of money foreign investors have invested in a country’s economy.

They are broken down into three main kinds of investments: foreign direct investment, portfolio investment, and other investments, each of which includes a number of sub-categories.

The Federal Capital Territory of Abuja ($1.62 billion) and Lagos State ($3.59 billion), per the NBS, were the top investment locations in 2022.

Other states which attracted foreign investments in 2022, although minimal, included Akwa Ibom, Anambra, Ekiti, Enugu, Katsina, Kogi, Oyo and Plateau state.

In the first quarter, only six states attracted a total of $1.57bn as capital importation. The states included – Abuja, Anambra, Katsina, Lagos, Oyo, and Plateau.

The overall amount of capital inflows for the second quarter was $1.54 billion. Throughout the time period under consideration, Lagos ($1.05 billion) drew the most capital, followed by Abuja ($453.95 million), Anambra ($24.71 million), Kogi ($2 million), and Ekiti ($500,000).

In the third quarter of 2022, capital imports into Nigeria totaled $1.1 billion, while in the fourth, nine states, including the FCT, attracted a total of $1.06 billion.

In the third quarter of 2022, capital imports into Nigeria totaled $1.1 billion, while in the fourth, nine states, including the FCT, attracted a total of $1.06 billion.

Abia, Adamawa, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Gombe, Imo, Jigawa, Kaduna, and Kebbi were among the states that failed to draw any foreign investment in 2022.

Nasarawa, Kwara, Kano, Niger, Ogun, Ondo, Osun, Rivers, Sokoto, Taraba, Yobe, and Zamfara states are also included in that group.

The United Kingdom, the United States, and South Africa were the top three countries from which the country received capital inflows in 2022.