Niger Delta States Failed To Attract Foreign Direct Investment In First Quarter Of 2022

In Business & Economy, CrossRiverWatch TV, National News, Podcast

By Jonathan Ugbal

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The Niger Delta States in Nigeria have failed to attract any Foreign Direct Investment, FDI in the first quarter of 2022, says the Nigerian Bureau of Statistics, NBS.

The States are Abia, Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, and Rivers. Also, 23 other States failed to attract any FDI, the bureau report shows.

In the case of Cross River, the State has now failed to attract any FDI for nine straight quarters since the first quarter of 2020.

Only Anambra, Katsina, Lagos, and Oyo State as well as the Federal Capital Territory accounted for the USD1.573 billion recorded in the quarter under review.

The FDI figures show a decrease of 28.09 percent from USD2.187 billion recorded in the last quarter of 2021Year-on-year, the FDI is a decrease of 17.46% from the USD1.905 billion recorded in the corresponding quarter of 2021.

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