Posted 12/30/2023, 9:28:13 AM
Foreign Investment in Nigeria Drops Sharply in 2023, Flows Mainly to Lagos
- 27 Nigerian states failed to attract any foreign investment in 2023 as capital imports into Nigeria dropped significantly
- Lagos state attracted the highest amount of foreign investment in 2023 with $1.67 billion
- Abia state recently attracted about $150 million in foreign investment in the last 3 months of 2023
- Capital imports into Nigeria declined by 34% in the first 9 months of 2023 compared to the same period last year
- Lagos state accounted for 64% of total capital imports into Nigeria, followed by FCT with 28%