…Lagos, Abuja, other states attract $183.97m FDI
Mkpoikana Udoma Port Harcourt — A total $1.08 billion was imported into Nigeria in the fourth quarter of 2023, 2.62 percent higher than the $1.06 billion recorded in the fourth quarter of 2022, the National Bureau of Statistics, NBS, has said.
According to the NBS, the manufacturing sector recorded the highest inflow with $450.11 million, representing 41.35 percent of total capital imported in the fourth quarter, followed by the banking sector, which attracted $283.30 million (26.03 percent), and financing with $135.59 million (12.46 percent).
Capital Importation during the period under review originated largely from the United Kingdom with $267.24 million, followed by Mauritius with $226.18 million, the Netherlands with $149.93 million, Singapore with $144.25 million and South Africa with $116.37 million.
Lagos State remained the top destination for funds in the quarter under review as it attracted $771.68 million, accounting for 65.38 percent of the total national capital importation, followed by Abuja with $370.80 million (34.07%), Rivers State with $6.00 million (0.55%), and Ekiti State with less than a million dollars.
Stanbic IBTC Bank Plc received the highest capital importation into Nigeria in the fourth quarter of 2023 with $499.45 million (45.88%), followed by Citibank Nigeria Limited with $229.06 million (21.04%) and Rand Merchant Bank Plc with $85.85 (7.89%).
