• Privacy Policy
  • Terms
  • About us
  • Contact Us
Thursday, March 30, 2023
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

More States fail to attract foreign investments

Investment

The Matters Press by The Matters Press
June 13, 2022
Reading Time: 1 min read
0
Edo unveils plans for investment desks

Thirty-two states in Nigeria, including Rivers and Kaduna, did not attract any foreign investments in the first quarter of 2022.

RELATED POSTS

U.S. hikes visa fee

DMO, Centre task incoming administration on revenue generation

NMDPRA to resume safety audit of petrol outlets, tankers operations

Report released by the National Bureau of Statistics (NBS) shows that only Lagos, Oyo, Katsina, Anambra states, and the Federal Capital Territory attracted investment during the period.

According to the NBS’ Nigerian Capital Importation (Q1 2022), the total value of capital imported into Nigeria in the first quarter of 2022 stood at $1.6bn from $2.2bn in the preceding quarter, showing a decrease of 28.09 per cent.

ALSO READ  Nigeria promotes policies to attract investments

When compared to the corresponding quarter of 2021, capital importation decreased by 17.46 per cent from $1.9bn.

The largest amount of capital importation by type was received through portfolio investment, which accounted for 60.87 per cent ($957.58m).

This was followed by Other Investment with 29.28 per cent ($460.59m) while Foreign Direct Investment accounted for 9.85 per cent ($154.97m) of total capital imported in Q1 2022.

By destination of investment, Lagos State remained the top destination in Q1 with $1.1bn accounting for 71.16 per cent of total capital investment into Nigeria. This was followed by investment into Abuja (FCT), valued at $446.8m(28.40 per cent).

ALSO READ  Nigeria drops from top 10 investment destinations in Africa

Anambra Oyo and Katsina states followed, with each raking in $4.1m, $2m and $700,000, respectively.

On the other hand, Abia, Adamawa, Akwa Ibom, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Gombe, Imo, Jigawa, Kaduna and Kebbi states failed to attract any foreign investments during the period under review.

Others are Nasarawa, Kogi, Kwara, Kano, Niger, Ogun, Ondo, Osun, Plateau, Rivers, Sokoto, Taraba, Yobe and Zamfara states.

Categorisation of total capital investment by bank shows that Standard Chartered Bank Nigeria ranked highest in Q1 with $543.20m (34.53 per cent). This was followed by Citi Bank Nigeria Limited with $439.03m(27.91 per cent) and Stanbic IBTC Bank Plc with $251.52 (15.99 per cent).

ALSO READ  Acumen impacts on 380m poor lives through investment
Tags: Investment
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Visa-on-arrival counters expanded
Economy/Technology

U.S. hikes visa fee

March 30, 2023
DMO raises N615bn Sukuk fund for roads
Economy/Technology

DMO, Centre task incoming administration on revenue generation

March 30, 2023
NMDPRA to release regulations on midstream, downstream operations
Economy/Technology

NMDPRA to resume safety audit of petrol outlets, tankers operations

March 30, 2023
Zenith Bank unveils N765.6bn gross earnings
Economy/Technology

Zenith Bank grows gross earnings to N945.5bn in 2022

March 29, 2023
Eswatini for $140m Afreximbank’s credit
Economy/Technology

Afreximbank releases $10m finance facility to Parallex Bank

March 29, 2023
New Naira notes unavailable even as CBN campaigns for acceptance
Economy/Technology

NLC, TUC concede two weeks to CBN to end cash crunch

March 29, 2023
Next Post
Blackout hits Nigeria as grid collapses again

Blackout hits Nigeria as grid collapses again

Increasing food production excites Uganda

NAMCON to empower 15m Nigerians on large scale farming

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

INEC’s Chairman visits Ooni, talks at Oduduwa Varsity

INEC reviews elections for better performance

July 1, 2019
Airtel Africa receives approval as payment service bank

Airtel Africa receives approval as payment service bank

November 6, 2021
ICSAN wants stakeholders to adopt sustainable eco-friendly practices

ICSAN wants stakeholders to adopt sustainable eco-friendly practices

February 7, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • U.S. hikes visa fee
  • DMO, Centre task incoming administration on revenue generation
  • NMDPRA to resume safety audit of petrol outlets, tankers operations

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2022 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2022 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?