List of 32 States With No Dollar Investment in 2022, As Insecurity, Naira Depreciation Chase Investors Away

List of 32 States With No Dollar Investment in 2022, As Insecurity, Naira Depreciation Chase Investors Away

  • Investors continue to avoid Nigeria amid challenges of insecurity that have plagued the country
  • Nigeria is even more unattractive when Naira depreciation is added and difficulties in taking home revenue
  • Official data has revealed a list of 32 states with no single dollar investment as the governors focus more on politics

The National Bureau of Statistics (NBS) has disclosed that thirty-two(32) states in the country failed to attract dollar investment from April to June(the second quarter of 2022).

NBS disclosed this in its capital importation report published on its website and obtained by

The report noted that in Q2, 2022 out of 36 states and the Federal Capital Territory, only five states which include Lagos, Abuja, Anambra, Ekiti, and Kogi witnessed an inflow of capital.

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Capital investment into Nigeria drops significantly
Snapshot of capital importation Credit: NBS
Source: Facebook

While in first quarter of 2022, six states which included Abuja, Anambra, Katsina, Lagos, Oyo, and Plateau recorded investment.

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How much was attracted

According to NBS, a total of $1.54 billion came into the country from April to June.

It noted that Lagos ($1.05bn) is the highest followed by Abuja ($453.95m), Anambra ($24.71m), Kogi ($2m), and Ekiti ($500,000).

Source of investment

Punch reports that the United Kingdom ($781.05m) was the largest source of capital importation, followed by Singapore and the Republic of South Africa which brought in $138.58m and $122.26m respectively.

List of states without foreign investment since start of 2022

  • Abia
  • Adamawa
  • Akwa ibom
  • Bauchi
  • Bayelsa
  • Benue
  • Borno
  • Cross river
  • Delta
  • Ebonyi
  • Edo
  • Enugu
  • Gombe
  • Imo
  • Jigawa
  • Kaduna
  • Kano
  • Kwara
  • Nasarawa
  • Niger
  • Ogun
  • Ondo
  • Osun
  • Rivers
  • Sokoto
  • Taraba
  • Yobe
  • Zamfara

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Obasanjo joins Nigerians to lament high cost of living as hardship bites harder

Meanwhile, a former president of Nigeria, Olusegun Obasanjo on Tuesday, August 2, joined millions of Nigerians to lament the high cost of living among many others.

Obasanjo said that he has been sweating profusely due to the high cost of diesel which is taking a toll on his business and other businesses across the country.

Obasanjo who is a farmer spoke at the southwest fish farmers’ congress held at the Olusegun Obasanjo Presidential Library (OOPL) in Abeokuta, Ogun state.


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