Nigeria’s capital importation drops to $1.13bn, Lagos tops destination list

Lagos State attracted the highest capital importation by states in the first quarter (Q1) 2023, as Nigeria’s total capital importation stood at $1.13 billion in the same quarter.

The total capital importation depreciated by 28 per cent year-on-year compared to the $1.57 billion reported in Q1 last year.

Although, on a month-on-month basis, the total capital importation increased by 6.78 per cent, against the $1.06 billion recorded in the fourth quarter of 2022.