National Bureau of Statistics (NBS) has disclosed that only Lagos, the Federal Capital Territory (FCT) and Ekiti attracted capital importation in the first quarter of 2024.
Lagos State led with $2,782.41 million, constituting 82.42% of the total $3,376.01 million imported during the period.
Following Lagos, Abuja, FCT, attracted $593.58 million (17.58%), while Ekiti State received $0.01 million.
The report indicated that 34 states did not attract any capital importation during this period. Portfolio Investment was the largest category, amounting to $2,075.59 million (61.48%), followed by Other Investments with $1,181.25 million (34.99%). Foreign Direct Investment accounted for $119.18 million (3.53%).
In terms of sectors, the banking sector saw the highest inflow with $2,067.44 million (61.24%), followed by the trading sector at $494.93 million (14.66%), and the production/manufacturing sector at $191.92 million (5.68%).
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