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Abia, Ebonyi, Imo, among states with least investment flow in 2018 Q1 

Abia, Ebonyi, Imo, among states with least investment flow in 2018 Q1  - States, Investment, 2018

 

By Chibisi Ohakah, Abuja

The governments of Abia, Bayelsa, Ebonyi and Imo states are among the list of Nigerian states that failed to attract any form of fresh investments into their states between January and March this year, an analysis of the capital importation report prepared by the National Bureau of Statistics, has revealed.

The capital importation report contains the total amount of fresh investments attracted into the Nigerian economy during a particular period of time. In the report released in Abuja on Monday, the NBS revealed that none of the 22 states contributed to the entire $6.3 billion (N2.26 trillion), which the federation attracted during the three-month period.

Other states that could not attract any form of investment inflow include Edo, Gombe, Jigawa, Kaduna, Zamfara, Yobe, Taraba, Sokoto, Plateau, Niger, Nasarawa, Kwara, Kogi, Kebbi, Katsina, Ondo and Osun. The report said only 15 state governments were able to secure fresh investments in the first quarter of this year. The Federal Capital Territory led with a total investment of $3.54 billion in the three-month period. The $3.54 billion represented about 56.2% of the entire $6.3 billion, which the federation attracted during the period under review.

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A breakdown of the figures showed that the Federal Capital Territory [FCT] attracted the sum of $1.62 billion in January, $782.2 million in February and $1.14 billion in March. Lagos State attracted $2.67 billion, followed by Akwa Ibom, which had $43.62 million. The report said that the Lagos state’s $2.67 billion investments came thus; $948.19 million in January, $836.43 million in February and $882.21 million in March. On the other hand, Ogun attracted a total investment of $24.81 million; Oyo, $8.63 million; Anambra, $5 million; while Adamawa, Bauchi, Benue and Borno states each attracted $2 million investment inflows.

Others are Kano, $1.23 million; Delta, $399,940 million; Rivers, $361,111 million; Cross River million, $230,000 million; and Enugu, $1,632 million.

In another development, the executive secretary, Nigeria Investment Promotion Commission [NIPC], Yewande Sadiku, said her agency was working with states to make them more attractive to investors. She said the commission currently had a seamless collaboration with the states to enable it to monitor closely investments inflow into the country as a one-stop centre.

“We are interested in seeing more Nigerians invest in the country, and we have a Domestic Direct Investment model now in the commission, and we are working with the National Bureau of Statistics to track investments inflow into the country.

“The current efforts of the NIPC in working more closely with the states is to increase the level of investment inflow into the country and to ensure seamless collaboration and proper tracking.”

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