A total of 32 out of 36 states and the FCT attracted zero capital importation (foreign investment) in the first 9 months of 2024 up from 27 states in the whole of 2023.
This is according to the latest Capital Importation data from the National Bureau of Statistics (NBS) for the third quarter of 2024.
Nigeria’s total Capital Importation for the third quarter (Q3) of 2024 witnessed a 51.90% decline from the previous quarter, falling to $1.25 billion.
This drop, compared to the $2.60 billion recorded in Q2 2024, highlights a sharp contraction in foreign investments despite an overall annual increase of 91.35% from Q3 2023.
According to the data, Nigeria attracted $1.2 billion in the third quarter of 2024 compared to $2.6 billion and $3.3 billion in the second and first quarter of the year respectively.
Total capital importation in the first 9 months of the year totals $7.1 billion compared to $3.9 billion in the whole of 2023.
