FCT and six states that attracted foreign investments in one year

Only six states and the federal capital territory (FCT) attracted foreign investments in one year (between June 2023 and June 2024), a new report by the National Bureau of Statistics (NBS) has shown.

The latest capital importation report for the second quarter of 2024, released by the NBS on Tuesday also revealed that the Total Capital Importation within the period under review was $8.75 billion. While Foreign Direct Investment (FDI) in the same period was $478.78 million.

This debunked the claim made by President Bola Tinubu in his Independence Day speech that Nigeria attracted $30 billion in foreign direct investments in one year.

“Thanks to the reforms, our country attracted foreign direct investments worth more than $30 billion in the last year,” the president said.

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However, Lagos State maintained its position as the leading destination for foreign investments, attracting $5.95 billion between Q2 2023 to Q2 2024.

Here are the seven states, including the FCT, that attracted foreign investments in the period under review:

1. Lagos— $5.95 billion
2. FCT — $2.59 billion
3 Abia — $150.09 million
4. Akwa Ibom — $33.92 million
5. Ogun — $25 million
6. Rivers — $6.00 million
7. Ekiti — $59,500

Source: NBS