Manufacturing Tops in $8.41bn Investments in Q1
Finance Minister
The manufacturing sector has made the highest investments in the $8.41 billion new investments in the first quarter of the year.
The Nigerian Investment Promotion Commission (NIPC) in a report said the sector’s investment was 60 percent in what is described as clear show of investors’ confidence after the ravaging 2019 coronavirus pandemic.
The NIPC report showed that investments in the first quarter was 75 percent as against $4.81 billion which was reported during the same period last year.
This year’s first quarter investment also showed that it was 8.38 percent higher than the $7.76 billion figure for 2019.
The report also showed that Bayelsa and Delta states topped investment destinations during the period.
The two states were followed by Akwa Ibom state.
The investment figures showed that Bayelsa received $3.6 billion, Delta – $2.94 billion and Akwa Ibom – $1.4 billion.
The Nigerian Investment Promotion Commission (NIPC) in a report said the sector’s investment was 60 percent in what is described as clear show of investors’ confidence after the ravaging 2019 coronavirus pandemic.
The NIPC report showed that investments in the first quarter was 75 percent as against $4.81 billion which was reported during the same period last year.
This year’s first quarter investment also showed that it was 8.38 percent higher than the $7.76 billion figure for 2019.
The report also showed that Bayelsa and Delta states topped investment destinations during the period.
The two states were followed by Akwa Ibom state.
The investment figures showed that Bayelsa received $3.6 billion, Delta – $2.94 billion and Akwa Ibom – $1.4 billion.
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