According to the National Bureau of Statistics (NBS),24 of the 36 states of the Federation attracted no foreign direct investments in 2021.
The Bureau published the latest Nigerian Capital Importation report for the four quarters of 2021. In the report, data showed that Nigeria generated a total of $698.7m from Foreign Direct Investments in 2021. This is lowest recorded by the country in the last 10 years.
Also the report shows that the 24 states with no generated FDI are Adamawa, Bauchi, Bayelsa, Benue, Borno, Cross River, Ebonyi, Edo, Enugu, Gombe, Imo, Jigawa, Kaduna, Katsina, Kebbi, Kogi, Nasarawa, Niger, Ondo, Plateau, Sokoto, Taraba, Yobe and Zamfara.
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Of the 24 states, 10 of them have failed to attract any foreign investments in the last three years. The states are Bayelsa, Ebonyi, Gombe, Jigawa, Kebbi, Kogi, Plateau, Taraba, Yobe and Zamfara.
Here are the numbers over the last 10 years.
In 2012, FDI stood at $2.60bn, it dropped to $1.27bn in 2013 but rose to $2.27bn in 2014. In 2015, FDI fell again to $1.41bn, $1.04bn in 2016 and to $981.75m in 2017. However, FDI rose to $1.19bn in 2018 but dropped to $934.34m in 2019.
According to the data from the NBS, FDI was at $1.028bn in 2020 compared to $698.78m in 2021. FDI is a major type of investment and a critical source of capital inflow into the country.
