27 States Record Zero Foreign Investments In 9 Months In the Country – NBS

The National Bureau of Statistics (NBS) revealed that a total of 27 States in Nigeria failed to attract any foreign investments for the first nine months of 2023.

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

These are the 27 States that recorded zero foreign investments as follows

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

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National Bureau of Statistics report details 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 per cent .

Following the latest Capital importation report released by the Bureau 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 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.

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

By Sophina Ovuike, Abuja