C/River, 25 other states record zero foreign direct investments in 2020

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Cross River and twenty-five other sub-national entities in Nigeria recorded zero foreign direct investments in the entire year 2020 NEGROIDHAVEN can say.

This development is according to data recently released by the National Bureau of Statistics, NBS on Friday. According to the NBS report, for 2020, the total value of capital in flow for the year under review fell to $9.7 billion which is a decline of 59.7 per cent from $24 billion in 2019 which is the worst in four years now.

According to the reports disclosed by the Central Bank of Nigeria, CBN, the investments refer to Foreign Direct Investment (FDI), portfolio investment and other types of investments which was grossly affected by the currently ravaging Covid-19 pandemic.

Apart from Cross River, the other states are Bauchi, Bayelsa, Benue, Borno, Delta, Ebonyi, Edo, Ekiti, Enugu, Gombe, Imo, Jigawa, Katsina, Kebbi, Kogi, Kwara, Nasarawa, Ondo, Osun, Oyo, Plateau, Rivers, Taraba, Yobe, and Zamfara States.

According to PremiumTimes, ‘Lagos emerged as the top destination of capital investment in Nigeria with $8.3 billion, followed by Abuja, which received $1.3 billion.
The others on the list are Abia State with relatively lower $56 million, Niger with $16.4 million, and Ogun with $13.4 million. Anambra State recorded $10.2 million, Kaduna State recorded $4.03 million, Sokoto got $2.5 million and Kano got $2.4 million. Akwa Ibom received $1.05 million ahead of Adamawa, which received just $20,000.’