Nigeria recorded N32.82trn proposed investments in 2018 – NIPC
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Nigerian Investment Promotion Commission (NIPC) has said that Nigeria recorded a total of N32.82 trillion ($90.9 trillion) proposed investments in 2018 for 92 projects in 23 states and the Federal Capital Territory (FCT).
NIPC’s Report of Investment Announcements for 2018 released, yesterday, showed that Nigeria recorded a 27 per cent growth in value of proposed investments in 2018 from N23.96 trillion ($66.36 billion) recorded in 2017.
A breakdown of the proposed investments for 2018 showed that mining and quarrying accounted for 35 per cent of the total value, manufacturing 24 per cent, construction 20 per cent, transportation and storage 15 per cent, while other sectors accounted for 6 per cent.
Daily Trust observed that the top 10 investment announcements in 2018 totalled N28.63 trillion ($79.3 billion), representing 87 per cent of the value of the announcements. The report revealed that the 2018 announcements were from investors in 20 countries, with domestic investors accounting for 33 per cent of the value, followed by investors from the United Arab Emirates at 20 per cent.
