Investors made N9.7tr announcement in 2021 – NIPC | Dailytrust

Investors made N9.7tr announcement in 2021 – NIPC

The Nigerian Investment Promotion Commission (NIPC), on Wednesday said it recorded N9.7 trillion investments from likely investors who showed interest in investing in the country.

The acting Executive Secretary/CEO of NIPC, Emeka Offor, during a media parley, said the figure was 39 per cent of what was recorded in 2020, thus, an indication of a thaw on the impacts of investment opportunities due to the fears of COVID-19.

He stated that the announcements made by location saw Lagos (N3.6tr) drawing the highest interest, followed by Bayelsa (N1.5tr), Delta (1.2tr), Akwa Ibom (N833 billion) and Adamawa 416bn.

By sectors, investment projects into the manufacturing sector led with 20 projects drawing N4.3tr, “Construction (16%), electricity, gas, steam and air conditioning supply (13%), information and communication (12%), and mining and quarrying (9%) made up the top five sectors for the year.”

Daily Trust reports that the announcement does not translate into actual investments as from the N6.9trn made in 2020 only N958bn investments were made. Also, some investments may take to actualize.

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