There are several states that have struggled to attract foreign investments, and the reasons can vary depending on the specific context.
According to the NBS, the following 18 states failed to attract foreign investment in three years (2021 – 2023)
1. Bauchi
2. Bayelsa
3. Benue
4. Borno
5. Cross River
6. Ebonyi
7. Edo
8. Enugu
9. Gombe
10. Imo
11. Jigawa
12. Kaduna
13. Kebbi
14. Nasarawa
15. Sokoto
16. Taraba
17. Yobe
18. Zamfara
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Some common reasons why states struggle to attract foreign investments include:
1. Political instability and conflict
2. Economic instability and crisis
3. Corruption and lack of transparency
4. Limited economic freedom and socialist policies
5. International sanctions
6. Lack of infrastructure and resources
7. Human rights concerns
8. Bureaucratic red tape and complex regulations
9. Limited access to education and skilled workforce
10. Geopolitical tensions and regional instability.
Note that these are general trends and not all countries that experience these challenges fail to attract foreign investments, and some countries with these challenges still manage to attract investments in specific sectors or industries.
