NIPC Releases Report on Investment Announcements in Nigeria for Q1, 2018

Must Read

TAJBank Launches Nigeria’s 2nd Non-Interest Financial Institution (Photos)

Abuja Nigeria   December 2nd 2019, TAJBank, Nigeria’s second Non –Interest financial institution, has announced the launch of its services...

Hotel Group BON to Open 22 Properties in Nigeria’s Major cities, Secondary towns

International hospitality group BON Hotels says it plans to open over 22 hotels in Nigeria’s major cities and secondary...

Here are the world’s most popular city destinations in 2019

Euromonitor International recently released the “Top 100 City Destinations 2019” ranking report, covering the world’s leading cities ranked by...
- Advertisement -
- Advertisement -

The Nigerian Investment Promotion Commission (NIPC) has released the first Quarter 2018 report on Investment announcements in Nigeria.

The Report disclosed that in the first quarter of 2018, NIPC tracked $17.88bn worth of investment announcements in 32 projects across 8 states, almost 3 times the $6.38bn tracked in Q1 2017, suggesting increasing investor interest in Nigeria.

These private capital investment intentions were in 32 projects in several sectors which include Oil & Gas, Services, Manufacturing and Agriculture spanning across Lagos, Ogun, Niger, Gombe, Kano states among others.

The interests originated from United Kingdom, Nigeria, United States, China, and Switzerland.

Royal Dutch Shell, Dangote Plc., General Electric, Hydropolis Nigeria Ltd and China Energy Engineering Cooperation top the list of companies with investment interests in the economy. These announcements are for new projects and or expansion of existing ones.

Read:  African Alliance PLC Rewards Young Entrepreneur with Cash prize

In 2017, when NIPC started tracking investment announcements, $66.36bn worth of announcements in 112 projects across 27 states and the FCT were noted. Although these are investment announcements and do not suggest actual investments, they give a sense of investor interest in Nigeria.

In terms of actual capital flows, in 2017, Nigeria recorded $12.4bn of capital flows, compared to only $5.1bn in 2016. The flows increased progressively from Q1 2017, with each quarter materially higher than the corresponding period in 2016.

Read:  Agric Minister Speaks At Annual Research Review & Planning Meeting in Zaria, Highlights Impressive Increase in Local Rice production

The Report on investment announcements is based only on investment announcements cited in the NIPC Intelligence Newsletters published from January to March 2018 and may not contain exhaustive information on all investments announcements in Nigeria during the period. Nevertheless, the Report gives a fair sense of investor interest in the Nigerian economy. The Report can be downloaded from the NIPC website www.nipc.gov.ng

Read:  Jubilation as Airtel Launches 4G in Delta

NIPC sends out its NIPC Intelligence Newsletter 6 days a week. The Newsletter carries Nigerian investment-related news culled from various sources. NIPC did not independently verify the authenticity of the investment announcements.

CLICK HERE TO DOWNLOAD THE FULL REPORT…

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Anthony Joshua beats Andy Ruiz to win back world heavyweight titles

Anthony Joshua is the heavyweight champion of the world once more. Having suffered one of the biggest upsets in boxing history back...

News Highlights of November 2019 (Video)

It was a November to remember, as the battle for survival continues among brands, new ventures, opportunities, investments and the making of a payment...

Video Streaming Market to Reach $149.34 Bn Globally by 2026 at 18.3% – Report

Allied Market Research published a report, titled, "Video streaming market by Component (Solution and Services), Solution Type (IPTV, Over-the-top, and Pay TV), Streaming Type (Live/Linear...

Lagos State to commence issuance of license, permit for Boreholes Drilling in 2020

Lagos State Water Regulatory Commission is to commence issuance of licenses and permits for water abstraction in the state by the first quarter of...

May & Baker Nigeria Agrees to Manufacture 4 Product Brands for Sanofi in New Deal

The National Agency for Food & Drug Administration & Control (NAFDAC) has expressed strong support for the efforts by Sanofi, a multinational healthcare company,...

More Articles Like This