Three States Dominate Foreign Investments in Nigeria for Q4 2023 – NBS Report

In the latest Nigeria Capital Importation Q4 2023 report released by the National Bureau of Statistics (NBS), Lagos, the Federal Capital Territory (FCT), and Rivers have emerged as the top three states attracting the highest foreign investments.

During the fourth quarter of 2023, the total foreign investment saw a significant month-to-month increase of 66.77 percent, reaching $1,060.73 million. Notably, Lagos State took the lead, securing $771.68 million, which accounted for an impressive 65.38 percent of the total capital importation.

Following closely, the Federal Capital Territory (Abuja) attracted $370.80 million, representing 34.07 percent of the foreign investments. Rivers State also contributed to the trend with $6.00 million, constituting 0.55 percent of the total.

This success mirrors the performance of these states in the third quarter of 2023, highlighting their consistent appeal to foreign investors. The data underscores a boost in confidence among foreign investors during the review period, signaling positive economic prospects for Nigeria.