Harboursandport.com: Abuja - Nigerian Investment Promotion Commission (NIPC) says 8.99 billion dollars was tracked as investment announcements for the third quarter of this year.
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| Acting Executive Secretary of the Commission, Mr. Emeka Offor |
This is over a
hundred percent increase recorded last year.
The acting
Executive Secretary of the Commission, Mr. Emeka Offor made this known during
an interaction with newsmen in Abuja.
He said a total of
33 projects were tracked across 8 States during the period.
According to him,
the month of August was the most active during the quarter, accounting for 64%
of the total announcements.
Mr. Offor
said there was an improvement in the level of confidence in the investing
community post-COVID-19.
In the period,
Lagos State received the largest share of the announcements with 20 projects
accounting for 81%, which is 7.29 billion dollars in manufacturing, information
and communications, finance and insurance, human health and social services,
and electricity followed by Rivers State
“Rivers State recorded US$300 million worth of
announcements in manufacturing and transportation, and Oyo State had US231
million announced in electricity and trade (e-commerce). The 4 States accounted
for 87% of the total investments.
“The top sectors were manufacturing (42%), electricity,
gas, steam and air conditioning supply (25%), information and communications
(23%) and transportation (7%). Domestic investors were the most active during
the period accounting for 47% of the announcements, followed by announcements
from South Korea (22%), South Africa (16%), and the Kingdom of Spain (6%)”.
https://tribuneonlineng.com/nipc-tracks-investment-announcement-worth-8-99bn-into-nigeria-in-q3-2021/
Mr. Emeka Offor
noted that NIPC did not independently verify the authenticity of the investment
announcements but was working on tracking the announcements as they progress to
actual investments.
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