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Eight states attract $17.9b to 32 projects in Q1


Aliko Dangote

The Nigerian Investment Promotion Council (NIPC) has stated that the nation attracted not less than $17.88 billion in investments to 32 projects across eight states in the first quarter of 2018.
The states include Lagos, Ogun, Niger, Gombe and Kano. They attracted $3 billion, $1.04 billion, $754.7 million, $315 million and $174.6 million.
According to the NIPC, the investments originated from the United Kingdom, Unites States, China and Switzerland, among others, while Dangote, Hydropolis Nigeria Limited, Gateway Solar Power International Nigeria Limited and others accounted for $4.21 billion or 23.6 per cent of the total investments in the period.

Most of the investments were domiciled in the oil and gas sector, accounting for $12.9 billion or 72 per cent of the total volume. It was followed by the services sector with $4.5 billion or 25.3 per cent, while the manufacturing and agriculture sectors accounted for $440 million (2.5%) and $10 million (0.1%).

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