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NIPC: Lagos, Rivers, six others got $8.9 billion investments in three months

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The Nigerian Investment Promotion Commission has disclosed that Lagos, Rivers, Oyo and five other states received investment announcements worth $8.9 billion between July and September 2021.

This was made known by the Director of Strategic and Services of the Commission, Abubakar Yerima, on Tuesday.

Yerima spoke when he unveiled investments for the third quarter of 2021.

According to the report, Lagos State took the lion share of the investment, accounting for 81 per cent (US$7.29 billion) of the total in manufacturing, information and communications, finance and insurance, human health and social services and electricity.

In the same period, Rivers State recorded $300 million worth of investment in manufacturing and transportation, while and Oyo State had $231 million announced in electricity and trade (e-commerce).

The other four States accounted for 87 per cent of the total investments.

The report indicated that there was over 130 per cent increment in the Investment announcement when compared with the 2020 third quarter.

The report added that domestic investors were the most active during the period, accounting for 47 per cent of the announcements, followed by announcements from South Korea (22%), South Africa (16%) and the Kingdom of Spain (6%).

The Acting Executive Secretary of the NIPC, Emeka Offor, in his remarks announced that Nigeria will be participating in the World Expo, which will be held in Dubai, United Arab Emirates from October 2021 till March 2022.

According to Offor, over 25 million visitors from 192 countries are expected in Dubai during the period of the Expo and Nigeria will be hosting a trade and investment forum as one of the side events.

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The forum would be held from December 4 to 6, 2021 at the Dubai Exhibition Centre.

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Akinola
Akinola
Akinola Olusegun is a blogger and publisher of this blog, money247.com.ng. You can also check out his other blogs : segtv.com.ng (videos & news), letgoonline.com.ng (e-commerce), letgoonline.com.ng/blog (news) among others. Follow him via any or all of his social media pages to get fresh posts update.
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