Lagos State emerges Nigeria's top investment destination | The Guardian Nigeria News - Nigeria and World News

Nigeria’s National Bureau of Statistics on Monday said 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 said in its Q3 capital importation report.Asides Lagos, Nigeria’s capital city Abuja, Edo, Kaduna, Kano, Ogun and Oyo state also featured in the report. According to NBS, 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.In total, these Nigerian states attracted $5, 367 billion for 2019 Q3.The NBS saidThis is the lowest amount of capital importation received in the year.

“The largest amount of capital importation by type was received through portfolio investment, which accounted for 55.88% of total capital importation, followed by Other Investment, which accounted for 40.39% of total capital, and then Foreign Direct Investment FDI, which accounted for 3.73% of total capital imported in Q3 2019,” NBS said in the report.

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