In Q4 2023, Nigeria received a total of US$1.08 billion in foreign investment.
This represents a 2.62% increase over the $1.06 billion reported in Q4 2022.
Q4 2023 capital importation increased by 66.27% from $654.65 million in Q3 2023.
The numbers are from the Nigeria Bureau of Statistics’ (NBS) current capital imports report, available on their website.
According to the report, other investments accounted for 54.64% ($594.74 million) of total capital importation in Q4 2023.
Portfolio investment accounted for 28.46% ($309.76 million), followed by Foreign Direct Investment (FDI) at 16.90% ($183.97 million).
While the production/manufacturing sector had the largest inflow of US$450.11 million, accounting for 41.35% of total capital imported in Q4 2023, the banking sector received $283.30 million (26.03%), and financing received US$135.59 million (12.46%).
In Q4 2023, Lagos State received US$771.68 million, accounting for 65.38% of total capital importation, as reported by the NBS.
Abuja (FCT) comes in second with US$370.80 million, followed by Rivers State ($6.00 million). Ekiti State rounded out the list of Nigerian states that were able to attract international investment, earning $10,000.
Here is a list of states without investment in Q4, 2023
- Abia
- Adamawa
- Akwa Ibom
- Anambra
- Bauchi
- Bayelsa
- Benue
- Borno
- Cross River
- Delta
- Ebonyi
- Edo
- Enugu
- Gombe
- Imo
- Jigawa
- Kaduna
- Kano
- Katsina
- Kebbi
- Kogi
- Kwara
- Nasarawa
- Niger
- Ogun
- Ondo
- Osun
- Oyo
- Plateau
- Sokoto
- Taraba
- Yobe
- Zamfara
