The National Bureau of Statistics (NBS) has revealed that only Lagos, the Federal Capital Territory (FCT), and Ekiti attracted capital importation in the first quarter of 2024.
According to the NBS’s Nigeria Capital Importation report for Q1 2024, Lagos led with $2,782.41 million, accounting for 82.42% of the total $3,376.01 million imported into Nigeria during this period.
Abuja followed with $593.58 million, representing 17.58%, while Ekiti State attracted a minimal $0.01 million. The report noted that “34 states did not attract capital importation in the period under review.”
Further analysis showed that Portfolio Investment was the highest category with $2,075.59 million (61.48%), followed by Other Investments at $1,181.25 million (34.99%). Foreign Direct Investment accounted for $119.18 million (3.53%).
The report highlighted that the banking sector received the highest inflow, totaling $2,067.44 million (61.24%), followed by the trading sector at $494.93 million (14.66%), and the production/manufacturing sector with $191.92 million (5.68%).
