OGUN EMERGES 5TH TOP DESTINATION OF CAPITAL INVESTMENT IN NIGERIA 2020

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Ogun State, in the year 2020 attracted $13.39million foreign investiment to emerge the fifth state top destination of capital investment in Nigeria.

The capital importation report recently published by the National bureau of Statistics details the value of fresh investment that flowed into the Nigerian economy in 2020.

According to a report released by NBS, Lagos State attracted $8.31bn, Abuja garnered $1.27bn, Abia got $48.17m while Niger attracted $16.36m.

Other states that attracted foreign investiment in 2020 are Anambra($10.02bn), kaduna ($4.03m), Sokoto ($2.50m), Kano($2.28m) while Akwa Ibom and adamawa received $1.05m and$0.02m foreign investiment respectively.

Out of 64 countries that invested in Nigeria the United Kingdom emerged as the top source of capital investment in 2020 with $4.17bñ. The United Arab Emirates followed with $899.44m; Netherlands $890.58m and South Africa with $875.99.

Nigeria’s economy was badly affected by the the pandemic alongside the rest of the world. The total capital importation fell by 59.65 per cent to $9.68bn in 2020 from the $23.99bñ in 2014.

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