{"id":33691,"date":"2019-08-01T14:34:18","date_gmt":"2019-08-01T13:34:18","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=33691"},"modified":"2019-08-01T14:34:18","modified_gmt":"2019-08-01T13:34:18","slug":"nigeria-records-15bn-investments-in-six-months","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/nigeria-records-15bn-investments-in-six-months\/","title":{"rendered":"Nigeria Records $15bn Investments In Six Months"},"content":{"rendered":"

Between January and June this year, the Nigerian economy recorded a total investment commitment of $15.15bn in various sectors of the economy, the Nigerian Investment Promotion Commission has said.<\/p>\n

Figures obtained from the NIPC showed that the $15.15bn proposed investments were made for 43 projects in 12 states and the Federal Capital Territory.<\/p>\n

Comparatively, the proposed investments for the first half of this year showed a 67 per cent decline when compared to the corresponding period of 2018.<\/p>\n

Investments commitments are made by would-be investors in specific sectors of the economy, which the NIPC follows up to ensure its full maturity and benefits to the economy.<\/p>\n

According to NIPC records, mining and quarrying recorded investment announcements of $12.3bn, reflecting 81 per cent of the total investment proposals made.<\/p>\n

Manufacturing recorded $2.2bn worth of investment proposals announced.<\/p>\n

Within the period under review, finance and insurance recorded $200m investment proposals while information and communication recorded $200m.<\/p>

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It reads in part, \u201cIn the period,\u00a0 $15.15bn of announcements were tracked through the\u00a0 NIPC. The report showed that a total of 43 projects across 12 states and Federal\u00a0 Capital Territory were announced from investors in\u00a0 20\u00a0 countries.<\/p>\n

\u201cComparatively,\u00a0 the announcements made in the first half of 2019\u00a0 were\u00a0 67 per cent less in value than the announcements in the same period of 2018.<\/p>\n

\u201cThis was probably due to many investors waiting for the conclusion of national elections and handover in the first half of 2019.<\/p>\n

\u201cThe\u00a0 major\u00a0 destination\u00a0 was\u00a0 the\u00a0 Niger-Delta\u00a0 region\u00a0 with\u00a0 77 per cent,\u00a0 followed\u00a0 by Ondo State at\u00a0 seven per cent, and Lagos State at four per cent of the value announced.\u201d<\/p>\n

The records showed further that Morocco recorded investments commitments of $2.1bn while Nigerian local investors made investment commitments of $1.3bn.<\/p>\n

<\/div>\n

It added that investors from Malaysia made investment commitments of $0.9bn, while other unnamed nations cumulatively made investment commitments of $3.5bn.<\/p>\n","protected":false},"excerpt":{"rendered":"

Between January and June this year, the Nigerian economy recorded a total investment commitment of $15.15bn in various sectors of the economy, the Nigerian Investment Promotion Commission has said.<\/p>\n","protected":false},"author":6,"featured_media":33251,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[36,3528,5947],"coauthors":[2391],"class_list":["post-33691","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-cbn","tag-godwin-emefiele","tag-nigerian-investment-promotion-commission"],"yoast_head":"\nNigeria Records $15bn Investments In Six Months - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/nigeria-records-15bn-investments-in-six-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria Records $15bn Investments In Six Months - 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