26 April 2018

Nigeria Records N30.27tr Investments in 15 Months - Nipc

The Nigeria Investment Promotion Commission (NIPC) has revealed that the country recorded N30.27 trillion ($84.25 billion) from the first quarter of 2017 to the first quarter of 2018.

Data sourced from the NIPC showed that investors sank N23.86 trillion ($66.36 billion) into the economy in 2017 across 112 projects domiciled in 27 states of the federation and the Federal Capital Territory, Abuja.

Speaking during a visit to Media Trust headquarter office in Abuja, the Director of Strategic Communication at the NIPC, Mr. Emeka Offor, also said Nigeria recorded N6.43 trillion ($17.89 billion) worth of investments in the fourth quarter of this year in 32 projects across the country.

Daily Trust's analysis shows that the $66.36 billion investments recorded last year plus the $17.89 billion attracted in the first quarter of this year brings the country's total investment inflows in 15 months to $84.25 billion (N30.27 trillion).

Meanwhile, the Executive Director of the World Association of Investment Promotion Agencies (WAIPA), Mr Bostjan Skalar, has commended NIPC for winning investment awards at the recently concluded Annual Investment Meeting, 2018, in Dubai.

Commending the Executive Secretary of NIPC, Ms Yewande Sadiku, Mr Skalar attributed the awards to NIPC's "great projects" in Nigeria.

"Winning the award with great projects gives us further confidence and strength, as we as an umbrella organisation are only as strong as each of our members," Mr. Skalar stated.

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