Lagos, FCT Lead in Capital Inflow, Attracting Combined $503.49m in 2023 Q3 - Economic Confidential

2023-12-31 13:16:30

Economic Confidential

Lagos and the Federal Capital Territory (FCT) have taken the lead in capital importation in the third quarter of 2023.

New data from the National Bureau of Statistics (NBS) shows that only five states and the FCT attracted foreign capital in the third quarter of the year.

According to NBS, Lagos, Nigeria's commercial hub, attracted $308.83 million, while the FCT attracted $194.66 million.

Abia and Ogun also attracted some capital, with $150.09 million and $1.00 million, respectively.

Akwa Ibom got $65,000 and Ekiti saw $12,750 capital inflows during the quarter.

Analysts say these figures represent a significant decrease from previous quarters, raising concern about the state of the states.

2023-12-31 News