$15b investment in Q1, 2019, says NIPC
The Nigerian Investment Promotion Commission (NIPC) has said the country recorded a total of $15bn investment commitments in various sector of the economy between January and June this year.
The figures obtained from the NIPC revealed that the $15.15bn proposed investments were made for 23 projects in 12 states and the Federal Capital Territory (FCT).
Comparatively, the proposed investments for the first half of this year showed a 67 percent decline, when compared with corresponding period of 2018.
Would-be investors make investments commitments in specific sectors of the economy, which the NIPC follows up to ensure its full maturity and benefits to the economy.
The NIPC records further revealed that mining and quarrying had investment announcements of $12.3bn, reflecting 81 percent of total investment proposals made.
Similarly, manufacturing recorded $12.2bn worth of investment proposals announced.
It said: “Within the period under review, finance and insurance recorded $200m investment proposals, while information and communication recorded $200m…”
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