Lagos and the FCT attracted 98% of Nigeria’s capital imports in Q1 2023
In Q1 2023, eight Nigerian states and the Federal Capital Territory (FCT) received $1.13 billion in capital imports. Lagos State secured $705 million (62%) and the FCT attracted $410 million (36%), adding up to 98%.
Egypt remained Africa’s top FDI destination with $15.45bn.
Nigeria ranked 4th after FDI inflows rose 148% to $4.01bn.
Guinea had the biggest top-10 jump, rising 454% to $7.76bn.
Africa’s top 10 accounted for 73% of total FDI inflows.