FDI: FCT replace Lagos as the leading destination, as Abia, Delta, 32 other states attracted zero investments in 2024

The federal capital territory (FCT) and six states received foreign investments in the first quarter of 2025.

The FCT overtook Lagos as the leading destination, attracting $3.04 billion or 54.11 percent of total capital imported.

Lagos followed with $2.56 billion (45.44 percent), while Ogun recorded $7.95 million (0.16 percent).

Other states that made the list are Oyo with $7.81 million, Kaduna with $4.06 million, Kano with $117,000, and Ekiti with $4,250.

Meanwhile, investors ignored 32 states in 2024 as the value of capital importation into Nigeria increased by 215 percent to $12.32 billion last year from $3.91 billion in 2023.

This is according to the Nigerian Capital Importation report for Q1 2025, released on Tuesday by the National Bureau of Statistics (NBS).

Capital importation refers to the inflow of foreign funds into a country for investment in sectors such as trade, manufacturing, and financial services.

According to the NBS data, the 32 states snubbed by investors include:

 Abia

Adamawa

Akwa Ibom

Anambra

Bauchi

Bayelsa

Benue

Borno

Cross River

Delta

Ebonyi

Edo

Enugu

Gombe

Imo

Jigawa

Kano

Katsina

Kebbi

Kogi

Kwara

Nasarawa

Niger

Ogun

Ondo

Osun

Plateau

Rivers

Sokoto

Taraba

Yobe

Zamfara

Further analysis shows that eight of the 32 states have failed to attract any foreign capital between 2019 and 2024.

The states are Bayelsa, Ebonyi, Gombe, Jigawa, Kebbi, Taraba, Yobe and Zamfara