The investment profile report by
the Nigeria Investment Promotion Commission (NIPC) shows that Rivers state
received the largest investment in the first half of 2018.
According to the report, a total
of $45.74 billion was invested for 42 projects in nine states and the Federal
Capital Territory (FCT).
The sectoral analysis of the
investment profile showed that mining and quarrying accounted for 61% of the
total investment and manufacturing, 28%.
Others sectors are transportation
and storage, five percent; real estate, three percent; and the remaining
sectors accounting for three percent.
It added that the investments
were from investors in 11 countries, with French companies accounting for 35%
of the value, closely followed by Nigerian companies at 31%.
The report said the UK’s
investment stood at 20%; Luxembourg seven percent and the remaining eight
percent were from the other countries.
Rivers received 35% of the total
sum while Bayelsa and Lagos received 26% each.
“The top 10 announcements
accounted for 43.1 billion dollars, representing 94 per cent of the value of
the announcements,” the report read.
“NIPC sends out its NIPC
Intelligence newsletter six days a week. The newsletter carries Nigerian
investment-related news culled from various sources.”
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.”
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