It has emerged that 18 Nigerian States in the Federal Republic of Nigeria have failed to attract foreign investments for three consecutive years.
Recent reports have revealed that 18 states in Nigeria have failed to secure any foreign investments for three consecutive years, raising concerns about their economic viability and attractiveness to foreign investors.
Checks by Africa Health Report show the states to include; Bauchi, Borno, Gombe, Kebbi, Taraba, Yobe, Bayelsa, Cross River, Edo, Ebonyi, Enugu, Imo, Nasarawa, Sokoto, and Zamfara.
According to the National Bureau of Statistics (NBS), the states recorded zero foreign investments between 2021 and 2023.
The NBS said the absence of foreign investments in these states represents a significant setback for their economic development.
NBS noted that foreign investments are instrumental in driving economic growth, creating employment opportunities, and enhancing infrastructure.
Without such investments, these states may struggle to compete with others that have successfully attracted foreign capital.
The NBS report underscores the urgent need for the affected states to implement policies and strategies aimed at attracting foreign investments and stimulating economic growth.
Furthermore, the NBS recommended that the federal government and relevant stakeholders must address the factors deterring foreign investors and create a conducive business environment to attract foreign capital.
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