The Nigerian Investment Promotion Commission,NIPC has announced investment worth of $15.15bn investment announcements in 43 projects across 12 states of the federation and the federal capital Territory,for the first half of the year 2019.
Investment announcements are investments committments made by would be investors specifically countries and and related companies in specific sectors of the economy,which the NIPC follows up to ensure its full maturity and benefits to the Nigerian economy.
According to NIPC records,Mining and qaurrying recorded investment announcements of $12.3bn averaging 81% of the total investment sum announced .Manufacturing also recorded $2.2bn worth of investment announced.
Within the period under review,Finance and insurance recorded $0.2bn investment worth;also information and communication recorded investment announcements worth of $0.2bn.Other sectors not specifically mentioned recorded $0.2bn.
Emeka Offor,director of Strategic Communications,while briefing newsmen on the investment announcements on Wednesday in Abuja notes that Off shore investment announcements recorded 77%.
According to NIPC,states with highest investments committments and announcements within the period under review includes:Ondo,Lagos and Ogun state.
Ondo state recorded $1.1bn,Ogun $0.6bn,while Ogun State recorded $0.2bn, while other states put together recorded cumulatively investment announcements of $1.6bn.
NIPC records further notes that Netherlands top lists of the countries with the highest investment committments with Royal Dutch announcing $10.0bn investment worth.
The records shows further that Morroco recorded investments announcements of $2.1bn,while Nigerian local investors made investment committments of $1.3bn.Malaysia made investment announcements of $0.9bn, while other unnamed nation’s cumulatively made investment committments of $3.5bn.
In his reactions, Chijioke Ekechukwu, a former director general of Abuja Chamber of Commerce and Industry told BusinessDay that NIPC must ensure it follows up satisfactorily all the investment commitments to ensure it is tracked up to full maturity,noting that concerns of unemployments,and rising population means that every available options for job creation must be encouraged.
HARRISON EDEH, ABUJA
