• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Opinions Blurb

Foreign investors dump 29 states in Q3

Bamidele Samuel Adesoji by Bamidele Samuel Adesoji
November 27, 2019
in Blurb, Research Analysis, Spotlight
Ten States in Nigeria, Foreign Investors abandoned 27 States, as Lagos and Abuja attracted $5.8 billion, tax revenue, Foreign investors dump 29 states in Nigeria, as Lagos attracts $4.97 billion in 3-month , Foreign investors ship $21.14 billion to 22 States in 10-month , 36 states contravene DMO rule, took debt more than revenue, FAAC disburses N650.8 billion as South-South states receive highest share
Share on FacebookShare on TwitterShare on Linkedin

Foreign investment in Nigeria in the third quarter of 2019 dropped to $5.36 billion from $5.82 billion recorded in the second quarter. Also, twenty-nine states in Nigeria suffered a huge blow, as foreign investors abandoned them.

According to the latest capital importation data released by the National Bureau of Statistics (NBS), Lagos and Abuja maintain the top spots with the biggest foreign investment inflows into the country.

Essentially, in Q3 2019, the largest amount of capital importation by type was received through portfolio investment, which accounted for 55.88% ($2.99 billion) of total capital importation, followed by Other Investment, 40.39% ($2.16 billion) of total capital, and then Foreign Direct Investment, which accounted for 3.73% ($200.08 million) of total foreign inflows within the period.

RelatedStories

Insurance Sector: Nigeria’s galloping inflation to drive claim costs 

Experts anticipate modest decline in June inflation, but food prices remain a threat 

July 14, 2025
Energy prices, Diesel

Diesel price in Nigeria surges 25% to N1,758 in May 2025 – NBS 

July 2, 2025

Capital inflow by states in Q3

The NBS Q3 report shows that only eight (8) states attracted foreign investment in the third quarter. The downward trend of states not being able to attract investors persisted in Q3; this was reflected in the Q3 capital importation report as 29 states were abandoned by foreign investors.

  • Nigeria’s biggest commercial hub, Lagos, attracted 92.7% of the total capital importation received in the country, amounting to $4.97 billion.
  • Abuja, which has been to Lagos, received only $381.19 million, down from $1.67 billion in Q2 2019. This means the Federal capital witnessed a major decline in foreign investment inflows, as capital importation in the state dropped by 77%.
  • Eight states that received capital inflow include Lagos ($4.97 billion), Abuja-FCT ($381.19 million), Ogun ($7million), Oyo ($1.71 million), Edo ($830,000), Kaduna ($250,000), Kano ($160,000) and Rivers ($30,000).

[READ MORE: Foreign Investors abandoned 27 States, as Lagos and Abuja attracted $5.8 billion]

Some worrying trends

Notably, in the first quarter, the foreign investment inflow in the country Nigeria spread across 19 states (plus FCT), with 17 recording zero foreign investment.

  • Meanwhile, going into the second quarter of 2019, most states that received foreign investments in Q1 2019, were badly hit with zero foreign investments.
  • According to the Bureau’s data, states that joined the zero foreign investment league in Q2 include Ondo, Delta, Akwa Ibom, Niger, Bauchi, Kwara, Borno, Katsina, Kano, Imo, Cross River, Benue and Adamawa.
  • This means in Q2 2019, 29 states in Nigeria were ignored by foreign investors.
  • However, the number of states with zero foreign investment increased again in the third quarter.

Why it matters: The sharp decline in foreign investment is a huge setback for states and this means most states in Nigeria are increasingly becoming unviable for investments.

A major concern that arose from the latest capital importation report is the continued decline in Foreign Direct Investment (FDI), which reflects declining investors’ confidence in the Nigerian economy.

For states in Nigeria, a major critical downside is that, as the states continue to lose out on foreign investments, it suggests a downturn in the economy of the states. This may spur unemployment rates and low economic activities across the country.

Highlights of Capital inflow in Q2’19

  • Essentially, the decrease in the inflow of Capital Imports into Nigeria, especially Portfolio Investment, indicated a negative development for the Nigerian Capital Market.  
  • Lower foreign investment negatively affects the liquidity that can sustain market growth, particularly for stocks.  
  • Another critical concern is foreign direct investment, which declined in the second quarter. This suggests investors are not so confident in the economic prosperity of the country.  
  • Critical downsides to states are that, as the states continue to lose out on foreign investments, it suggests an economic downturn in these states which may spur unemployment rates across the country.

Follow us for Breaking News and Market Intelligence.
Tags: capital importation dataForeign investment into NigeriaNational Bureau of Statistics
Bamidele Samuel Adesoji

Bamidele Samuel Adesoji

Samuel is an Analyst with over 5 years experience. Connect with him via his twitter handle

Related Posts

Insurance Sector: Nigeria’s galloping inflation to drive claim costs 
Economy

Experts anticipate modest decline in June inflation, but food prices remain a threat 

July 14, 2025
Energy prices, Diesel
Energy

Diesel price in Nigeria surges 25% to N1,758 in May 2025 – NBS 

July 2, 2025
Food items,
Economy

Top 10 Nigerian states with highest food inflation in May 2025, Borno tops the chart 

June 19, 2025
Top 10 most affordable states to live in Nigeria – May 2025 ranking  
Economy

Top 10 most affordable states to live in Nigeria – May 2025 ranking  

June 18, 2025
crude oil
Economy

Crude becomes Nigeria’s third largest import as local refineries seek foreign oil 

June 17, 2025
Top 10 most expensive states to live in Nigeria in May 2025 
Economy

Top 10 most expensive states to live in Nigeria in May 2025 

June 16, 2025
Next Post
local, Rice will be abundant this Christmas, RFAN says

Rice will be abundant this Christmas - RPAN

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 
  • South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG
  • 15 things you don’t need to start a business in Nigeria 

Follow us on social media:

Recent News

Sterling Bank concludes core application migration, leads the way for African Banking

Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 

July 15, 2025
Doctors

South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG

July 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics