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30 states fail to attract investments this year


30 state governments did not attract new investments into their states between January and June this year., an analysis of a capital importation report obtained from the National Bureau of Statistics has shown.
According to a report on capital importation by the National Bureau of Statistics, only five states were able to get any form of investments within the last six months.The states that got new investments are Lagos State, which attracted the highest amount of $2.6bn during the six months period, followed by Akwa Ibom with $52.44m.
They are: Lagos State, which attracted the highest amount of $2.6bn, Akwa Ibom with $52.44m, FCT with $31.51m, Ogun State got investments of $5.31m; Oyo had $5.25m, and Rivers recorded $550,000 worth of investments.
The states that did not attract any form of investments are Abia, Adamawa, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Ekiti, Enugu, Gombe, Imo, Jigawa, Kaduna and Kano,  Katsina, Kebbi, Kogi, Kwara, Nasarawa, Niger, Ondo, Osun, Plateau, Sokoto, Taraba, Yobe and Zamfara.
The document from the NBS gave also showed that investments worth $932.58 million were earned in agriculture, $23.71m; banking, $89.8m; brewing, $4.83m; construction, $1.71m; and consultancy, $4.2m.
Also, there were investments worth $1.21 million in drilling, electricity $6.38m; financing, $57.31m; Information Technology services, $6.28m; marketing, $90,000; oil and gas, $190.39m; and production, $141.42m.
Others are services sector, with $145.56m going to hotels, $170,000; telecoms, $174.18m; and trading, $12.53m.
The President, Abuja Chamber of Commerce and Industry, Mr. Tony Ejinkeonye, told Punch Newspapers that many investors would continue to adopt a “wait and see attitude” as a result of the tough economic environment in the country.
According to the medium, he said the government needs to implement a well articulated industrial plan and an enterprise development agenda aimed at bringing in a new era for industrial development in Nigeria.
He added the chamber was working with embassies to identifying areas of investment.
“The Abuja Chamber of Commerce and Industry has made it known to the government that the issue of power and energy must be urgently addressed in order to promote industry, boost productivity, and attract both foreign and local direct investment.”

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