“By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q3 2019 with $4,976.40 billion,” NBS said in its Q3 capital importation report.
The $4,976.40 billion, NBS said, accounted for 92.71% of the total capital inflow in Q3 2019.
Asides Lagos, Nigeria’s capital city Abuja, Edo, Kaduna, Kano, Ogun and Oyo state also featured in the report.
According to NBS, Abuja attracted $381.19 million investment for the third quarter. Edo, Kaduna and Kano states each attracted less than a million-dollar investment. $0.83 million was reported for Edo State, Kaduna – $0.25 million and Kano – $0.16 million. Rivers State had $0.03 million investment for the quarter.
Ogun State attracted investment of $7 million, while Oyo State attracted $1.7 million.
In total, these Nigerian states attracted $5, 367 billion for 2019 Q3.
Thirty of Nigeria’s thirty-six states did not have any capital investment listed in the report.
The NBS said Nigeria’s total investment inflows dropped by $460m from $5.82bn in the second quarter of this year to $5.36bn in the third quarter of the year.
This is the lowest amount of capital importation received in the year.
SOURCE: GUARDIAN
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