NIPC reports 42 investments worth $45bn from January to June

The Nigerian Investment Promotion Commission (NIPC) has released the report of investment profile of 45.74 billion dollars for 42 projects in nine states and the Federal Capital Territory in the first half of 2018.
The report made available on the commission’s website yesterday noted that the report was presented on sectors, investors’ country of origin, and states destination.
The report stated that the sectoral analysis of the investment profile indicated 12 sectors of interest with mining and quarrying accounting for 61 per cent of the value and manufacturing 28 per cent.
Others sectors are transportation and storage five per cent, real estate three per cent and the remaining sectors accounting for three per cent.
It added that the investments were from investors in 11 countries, with French companies accounting for 35 per cent of the value, closely followed by Nigerian companies at 31 per cent.
The report said that the UK’s investment stood at 20 per cent, Luxembourg seven per cent and the remaining eight per cent were from the other countries.
The report further revealed that Rivers was the biggest beneficiary of the investment with 35 per cent in favour of the State.
Bayelsa and Lagos states accounted for 26 per cent each, Delta State seven per cent and the remaining six per cent was in favour of the other states.
“The top 10 announcements accounted for 43.1 billion dollars, representing 94 per cent of the value of the announcements.
“NIPC sends out its NIPC Intelligence newsletter six days a week.
The newsletter carries Nigerian investment-related news culled from various sources,’’ it stated.
It said the report was based only on investment announcements cited in NIPC’s newsletters from January to June 2018, it might not contain exhaustive information on all investment announcements in Nigeria during the period.
“Nevertheless, the report gives a sense of investors’ interest in the Nigerian economy in the first half of 2018.
“NIPC did not independently verify the authenticity of the investment announcements but is working on tracking the announcements as they progress to actual investments,’’ the report said.




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