Mkpoikana Udoma
Port Harcourt — Akwa Ibom and other five states in the country, including the Federal Capital Territory, Abuja, attracted a total of $655.4 million as foreign direct investments in the third quarter of 2023, the National Bureau of Statistics, NBS, has said.
Data from NBS shows that foreign capital importation into the country were brought only to Akwa Ibom, Lagos, FCT, Abia, Ogun and Ekiti States in July, August and September 2023, while the remaining 31 states recorded zero capital importation during the period.
Capital importation are funds brought in from abroad for the purpose of investment, trade, and manufacturing within a country.
According to NBS, foreign investors brought in their investments into Lagos $308.83million, FCT $194.66million, Abia $150.09million, Ogun $1.00million, Akwa Ibom got $65,000 while Ekiti got $12,750 in the period under review.
Abia’s $150.09million in the third quarter of 2023, was the highest capital importation since 2020 when it attracted $56.07million.
Nigeria’s capital imports for the first nine months of 2023, comprising first to the third quarter totaled $2.82 billion, with $1.13 billion imported in first quarter, $1.03 billion in second quarter and $654.65m in the third quarter of 2023.
