The NBS Capital Importation report for Q1 2025 listed Abia, Delta, Ogun, and 29 other states as having received zero foreign capital last year.
Foreign investors shunned 32 of Nigeria’s 36 states in 2024, even as capital importation rose by 215 percent to $12.32 billion from $3.91 billion in 2023, according to the National Bureau of Statistics (NBS).
The NBS Capital Importation report for Q1 2025 listed Abia, Delta, Ogun, and 29 other states as having received zero foreign capital last year. “Eight of these states — including Bayelsa, Ebonyi, Gombe, Jigawa, Kebbi, Taraba, Yobe, and Zamfara — have failed to attract any capital since 2019,” the report said.
Only the Federal Capital Territory and six states received foreign investments in Q1 2025. The FCT overtook Lagos, attracting $3.04 billion or 54.11 percent of total capital, while Lagos followed with $2.56 billion.
Other recipients included Ogun ($7.95 million), Oyo ($7.81 million), Kaduna ($4.06 million), Kano ($117,000), and Ekiti ($4,250), according to analysis by TheCable Index.
Capital importation includes foreign funds for sectors such as trade, manufacturing, and financial services.