Between January and March of this year, about 17 state governments could not attract any form of fresh investments into their states, an analysis of the capital importation report revealed.
The capital importation report, prepared by the National Bureau of Statistics, contains the total amount of fresh investments attracted into the Nigerian economy during a particular period of time.
In the report, which was obtained by our correspondent on Tuesday in Abuja, the NBS revealed that none of the 17 states contributed to the entire $8.45bn, which the federation attracted during the three months period.
The states that could not attract any form of investment inflow are Jigawa, Ogun, Zamfara, Kebbi, Sokoto, Ekiti, Kogi, Bayelsa, and Nasarawa.
Others are Edo, Plateau, Enugu, Abia, Ebonyi, Taraba, Gombe and Yobe.
Based on the analysis of the NBS report, about 20 state governments were able to secure fresh investments inflow into their states within the period under review.
The states that got the new investments are Lagos State, which attracted the highest amount of $4.77bn during the three-month period.
The $4.77bn investment inflow into Lagos State represented about 56.45 percent of the entire $8.45bn which the country attracted during the three-month period.
The state was followed by the Federal Capital Territory, which attracted a total investment inflow of $3.58bn.
Adamawa State attracted the sum of $25m, same with Benue and Cross River states while Imo, Kano, Osun, Rivers, and Kaduna recorded investment inflow of $3m, $1m, $2.2m, $41.4m and $2.16m, respectively.
In the same vein, Akwa Ibom recorded inflow of $55,035; Anambra, $50,000; Bauchi, $99,980; Borno, $500,000; Delta, $40,000; Katsina, $576,796; Kwara, $200,000; Niger, $67,156; Ondo, $26,000; and Oyo, $249,968.
The report read in part, “The total value of capital importation into Nigeria stood at $8.48bn in the first quarter of 2019.
“This represents an increase of 216.03 percent compared to Q4 2018 ($2.68bn) and 34.61 percent increase compared to the first quarter of 2018 ($6.3bn).”
The largest amount of investment inflow, according to the report, was through portfolio investment, which accounted for $7.14bn or 84.21 percent of the total capital importation.
This is followed by “other investments” which accounted for $1.09bn or 12.91 percent of the total capital, and the Foreign Direct Investment, which accounted for $243.36m or 2.86 percent of the total capital imported in the first quarter of 2019.
By sector, the NBS said capital importation by the banking sector dominated the first quarter of 2019, reaching $2.85bn of the total investment inflow in the first quarter.
The report said the United Kingdom emerged as the top source of capital investment in Nigeria during the first quarter with $4.53bn.
This accounted for 53.40 percent of the total capital inflow during the period.
