The Nigerian Investment Promotion Commission (NIPC) has released a selection of investment announcements in Nigeria covering the period of January to December 2017 totaling 66.36 billion US Dollars.
A sector analysis of the announced investments indicated that oil & gas sector topped the chart at 38%, manufacturing 18% and the energy sector 15%.
The announcements covered 112 proposed projects in 27 States and the FCT. Investments by Nigerian companies peaked at 16%, United States of America and Norway paired at 15% each, and China 12%; showing an active participation of Nigerian companies. The major prospective investment destination states include Rivers State with 18%, Bayelsa 10% and Taraba State 10% of the proposed investments. A further analysis revealed that the top 10 announcements accounted for $43.1billion (US Dollars).
The NIPC is mandated, amongst other functions, to provide information about investment opportunities and sources of investment capital. The Commission disseminates, 6 days a week, an NIPC Intelligence Newsletter with Nigerian investment-related news culled from various sources. The investment announcements were selected from the newsletters and summarized in a report, to provide information to the public.
As the report is based only on investment announcements cited in the Newsletters, it may not contain exhaustive information on all investment announcements in Nigeria during the period. NIPC has also not independently verified the authenticity of the investment announcements.
To download a copy of the selection of investment announcements in Nigeria 2017, click here.