The National Bureau of Statistics (NBS) has revealed that Lagos, the Federal Capital Territory (FCT), and Ekiti were the only states to attract capital importation in the first quarter of 2024.
In its Nigeria Capital Importation report for Q1 2024, the NBS highlighted that Lagos State remained the top destination for capital importation, receiving $2,782.41 million. This figure represents 82.42% of the total $3,376.01 million imported into Nigeria during this period.
Following Lagos, the FCT attracted $593.58 million, accounting for 17.58% of the total capital importation. Ekiti State, meanwhile, saw a minimal inflow of $0.01 million.
This data indicates that 34 states did not attract any capital importation in the reviewed period.
The report further detailed that Portfolio Investment led the categories with $2,075.59 million, representing 61.48% of the total. Other Investments followed with $1,181.25 million, or 34.99%.
Foreign Direct Investment accounted for $119.18 million, making up 3.53% of the total capital importation in Q1 2024.
The banking sector saw the highest inflow, receiving $2,067.44 million, which is 61.24% of the total capital imported in Q1 2024. The trading sector followed with $494.93 million (14.66%), and the production/manufacturing sector attracted $191.92 million (5.68%).
