27 States That Recorded Zero Foreign Investments In Nine Months

In the past few months, President Bola Tinubu has been up and running, traveling from one country to another all in a bid to woo foreign investors to the country.

While some states were able to attract foreign investments for themselves, there are 27 states in Nigeria that failed to attract any foreign investments for the first nine months of 2023.

This statistics was revealed in a recent report by the National Bureau of Statistics (NBS).

The statistics represent a slight decrease from the 28 states that recorded zero foreign investments in the first half of the year.

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Below is a list of the 27 states that attracted no foreign investments in the first nine months of 2023:
1. Bauchi

2. Bayelsa

3. Benue

4. Borno

5. Cross River

6. Delta

7. Ebonyi

8. Edo

9. Enugu

10. Gombe

11. Imo

12. Jigawa

13. Kaduna

14. Kano

15. Katsina

16. Kebbi

17. Kogi

18. Kwara

19. Nasarawa

20. Osun

21. Oyo

22. Plateau

23. Rivers

24. Sokoto

25. Taraba

26. Yobe

27. Zamfara

Highlights

The report highlighted that in the first nine months of 2023, foreign investors showed little interest in 27 states as the value of capital importation into Nigeria experienced a significant decline of 34 percent.

According to the latest capital importation report released by the NBS for the third quarter of 2023, the total capital imports amounted to $2.82 billion.

This capital is brought in from abroad to support investment, trade, and manufacturing activities within the country.

The Breakdown

The breakdown of capital imports for the first nine months of 2023 reveals that $1.13 billion was imported in Q1, $1.03 billion in Q2, and $654.65 million in Q3.

In the initial six months of 2023, a total of 28 states failed to document any investments.

However, following Abia’s impressive achievement of attracting a substantial $150.09 million in Q3, this number decreased to 27 states within a span of three months.

Abia stands out as the sole state to experience such a remarkable transformation in such a short period of time.