Nigeria’s National Bureau of Statistics (NBS) revealed earlier this week that Lagos was the country’s top investment destination for the third quarter of 2019.

“By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q3 2019 with $4,976.40 billion,” NBS made this known in its Q3 capital importation report.

$4,976.40 billion, accounted for 92.71% of the total capital inflow in Q3 2019, according to NBS.

Asides Lagos, Nigeria’s capital city Abuja, Edo, Kaduna, Kano, Ogun and Oyo state also featured in the report.

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Lagos investment

The Street of Lagos

 

Meanwhile, according to the report, Abuja attracted $381.19 million investment for the third quarter. Edo, Kaduna and Kano states each attracted less than a million-dollar investment. $0.83 million was reported for Edo State, Kaduna – $0.25 million and Kano – $0.16 million. Rivers State had $0.03 million investment for the quarter.

Ogun State attracted investment of $7 million, while Oyo State attracted $1.7 million.

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In total, these Nigerian states attracted $5, 367 billion for 2019 Q3. While thirty-six states in the country did not have any capital investment listed in the report.

The NBS said Nigeria’s total investment inflows dropped by $460m from $5.82bn in the second quarter of this year to $5.36bn in the third quarter of the year.

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This is the lowest amount of capital importation received in the year.

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