The Nigerian Investment Promotion Commission (NIPC) says it collated 29.91 billion dollars as investments announcements for 2019.
These announcements were tracked through the NIPC Intelligence Newsletter, a publication by the commission.
The report stated that a total of 76 projects were announced across 17 states, including Federal Capital Territory and Offshore Nigeria.
The amount is 204 per cent less than 90.89 billion dollars investments tracked in 2018.
The report explained that the huge difference might be attributed to the uncertainty around 2019 as an election year in the country, which might had contributed to the perception of the economy, and ultimately affected investors’ sentiment.
It said that Lagos State had the greatest number of projects with 33, followed at a distance by Ogun with five, and Kaduna with three.
In terms of value, it said that 19.8 billion dollars or 66 per cent worth of investment was announced to be located offshore Nigeria.
“Further…
Source: Vanguard Newspaper
