Thirteen states, including the Federal Capital Territory, attracted the sum of $5.3bn (N1.9tn) investments in the last quarter of 2017


By Ifeanyi Onuba

Thirteen states, including the Federal Capital Territory, attracted the sum of $5.3bn (N1.9tn) investments in the last quarter of 2017
investigation by our correspondent revealed on Friday.
The investments made in 22 different sectors of the economy from October to December 2017, it was gathered, were the fallout of the new initiatives of government particularly in the area of ease of doing business.

Based on the government’s official statistics, the FCT attracted the highest investment inflow with the sum of $2.68bn.
This is about 49 per cent of the entire investment inflow into the country during the three-month period.
Lagos State followed closely with $2.54bn investment, representing 47.2 per cent of the total investments into the country.
Akwa Ibom recorded an investment inflow of $124.84m; Ogun, $8.79m; Oyo, $7.03m; Delta, $5.69m; and Anambra, $3.77m.
Similarly, Enugu attracted a total investment of $644,890; Kogi, $500,000; Kano, $483,970; Bauchi, $425,000; Rivers, $384,817; and Kaduna, $89,975.
The sectors where the $5.3bn was invested are agriculture, $62.65m; banking, $543.37m; brewing, $2.3m; construction, $92.7m; consultancy, $2.06m; drilling, $0.3m; and electrical, $5.1m.
Others are financing, $122.68m; fishing, $99.4m; information Technology, $8.45m; marketing, $0.48m; oil and gas, $23.83m; production, $317.8m; and servicing, $216.45m.
The rest are hotels, $0.3m; telecoms, $191.01m; tanning, $0.52m; trading, $12.96m; transport, $0.55m; and shares, $3.68bn.

The Minister of Finance, Mrs. Kemi Adeosun, said the huge amount, which the Federal Government was spending on infrastructure projects across the country was attracting fresh investments into the country.
She said this when a delegation of about 20 investors visited him at the headquarters of the ministry to discuss investment opportunities in Nigeria.
Adeosun told the delegation led by a former Minister of Finance, Dr. Shamsudeen Usman, that in 2017 alone, the sum of N1.2tn was released by the ministry for implementation of capital projects.
She added that the ministry was ready to make such huge release this year once the 2018 budget currently before the National Assembly was signed into law by President Muhammadu Buhari.
She said part of the cardinal focus of the administration of President Buhari was to address the infrastructure deficit in the country.
This, she added, would be achieved through targeted spending at projects that would unlock the economic potential of the country.
She described the level of interest from foreign investors in the Nigerian economy as huge, adding that very soon, these interests would translate into massive investments that would create jobs and reduce the nation’s poverty level.
Adeosun said, “It’s a great time for investors to be in Nigeria. For us, it’s a better time now than last year because finally, we think that we are beginning to address through deliberate policies some of the most stubborn problems that have held back Nigeria’s growth.
“We’ve gone through very difficult adjustments but we are seeing that the macroeconomic fundamentals are much more positive and the outlook is that they will remain positive.
“The good news is that we have actually begun to take steps in terms of reducing our (oil) benchmark price by keeping it low, allowing us to rebuild some buffers.
“Our budget is predicated on lower oil price, and for me, we are focusing on revenue because we think that is the missing part of the Nigeria jig-saw.”
She said the economy had started seeing the impact of the expanded budget of the Federal Government with massive investment in power, road and rail.
“Our commitment in solving the infrastructure challenges in Nigeria is firm because we think that is what will unlock growth in agriculture and solid minerals and make us to move away from our over-reliance on oil,” the minister added.
Usman gave some of the sectors where these investors were interested in as power, manufacturing, agriculture, solid minerals, among others.

Copyright PUNCH.

punchng.com/13-states-attract-n1-9tn-investments-in-three-months/

These days nobody can tell when the govt are telling truth or lieying
anyway I smell and see lies as usual if you are with me click like

Redoil:
I smell lies as usual if you are with me click like

Where are the lies? I'm even surprised Anambra and Enugu states were able to amass 10 cents.

Redoil:
I smell lies as usual if you are with me click like

kn23h:


Where are the lies? I'm even surprised Anambra and Enugu states were able to amass 10 cents.

You are heartless

Chaiiiii

kogi

Help me check if Edo state is there
I will create 200,000 jobs

Is Anambra on the list? If yes, then this is no news.

Next topic since I can sight Anambra there

Based on the government’s official statistics, the FCT attracted the highest investment inflow with the sum of $2.68bn.

Well, being an FCT has its perks and advantages.

I hope one day, we would not be inundated with super stories of how the super ingenious Gwari people converted an empty Forrest, into a big city, and not just a big City, but one with gigantic financial and socio economic muscle.

I just pray.

Even Kogi is beginning to tap into the opportunities proximity to an FCT offers without even having that much of a vibrant leadership , I expect Niger to follow suit soon, once they get the right leaders in place.

Despite Yahya Bello nonsense I'm still manage rake 500mil dollars

How much went as bribes and kickbacks

APC government suffering from Lai Muhammad's lying syndrome

Young03:
Help me check if Edo state is there

I will create 200,000 jobs

he might not be @ble to fulfill that promise,but he is working towards it

God bless Buhari!... #buhari_2019

the Jewish developers won't scream "we developed Nigeria" again o. I won't take this.

Good

How does all these statistics impact
the man on the street??

are we living abroad
why is it always dollars
billions dah have been shared amongst d top corrupt bastards dem whose children drive and wreck cars worth 100millions.
God is never coming to Nigeria
fuc all u bastard churches and bastard pastors

Combined? It is small

NBS is the only independent with the right figures.

kn23h:


Where are the lies? I'm even surprised Anambra and Enugu states were able to amass 10 cents.

Sense fall on you.

Anambra the best state in Nigeria always in the news for the right reasons. WILLIE IS WORKING

pazienza:

Based on the government’s official statistics, the FCT attracted the highest investment inflow with the sum of $2.68bn.

Well, being an FCT has its perks and advantages.

I hope one day, we would not be inundated with super stories of how the super ingenious Gwari people converted an empty Forrest, into a big city, and not just a big City, but one with gigantic financial and socio economic muscle.

I just pray.

You've long been notorious on these forums for your extreme ethnocentrism and runaway inferiority complex, and usually I wouldn't bother to even read - let alone respond - to the hate-inflected drivel you're prone to spitting out, but this time I'll make an exception: the Lagos you spend so much time obsessing over was already by far the wealthiest part of the country before Nigeria even existed as a single country, which in turn was well before the British and their accompanying missionaries had made significant inroads into your part of the south-east.

All this self-congratulatory rubbish you've written here cannot gainsay the fact that Lagos was by the 1880s so valuable to the British that it was to protect its trade with the south-western interior that they even bothered to create a colony of "Southern Nigeria" in the first place. Igbo mass migration to Lagos only began in the 1920s, many decades after it had become a flourishing city of trade, education and industry, so even in that respect you and your ilk reverse cause and effect - it was the already extant prosperity of the city that drew - and continues to draw - Igbos to it, rather than any particular contributions of theirs setting it apart. As for the idea that SS (not SE) oil money "developed" Lagos, one would have to be ignorant enough to think the place was "undeveloped" until 1970 to swallow such manifest nonsense - but here you and your bandwagon of ignoramuses clearly qualify.

The notion that funds from the much poorer northern and south-eastern parts of Nigeria ever played a meaningful role in "developing" a place which had always been worth more than the rest of the country is rubbish from start to finish, cooked up in the ignorant brains of people whose inferiority complexes cannot allow them to absorb indisputable facts that are trivial to confirm with a simple Google search or two. Or you might even consult a professional history of Nigeria or two, such as the ones by Richard Bourne or Toyin Falola; but who am I kidding? The desire to seek out objective knowledge is totally foreign to the likes of tribal chest-beaters like you, who would rather believe and propagate nonsensical lies that happen to bolster their fragile sense of self-worth.

They got it On paper

Only minister for bubu govt wey sabi speak fonee.

Abeg who fone help?

DUNCE.

Yes wo BABA is working but enemies are still wailing

Please pardon that guy!

omohayek:

You've long been notorious on these forums for your extreme ethnocentrism and runaway inferiority complex, and usually I wouldn't bother to even read - let alone respond - to the hate-inflected drivel you're prone to spitting out, but this time I'll make an exception: the Lagos you spend so much time obsessing over was already by far the wealthiest part of the country before Nigeria even existed as a single country, which in turn was well before the British and their accompanying missionaries had made significant inroads into your part of the south-east.

All this self-congratulatory rubbish you've written here cannot gainsay the fact that Lagos was by the 1880s so valuable to the British that it was to protect its trade with the south-western interior that they even bothered to create a colony of "Southern Nigeria" in the first place. Igbo mass migration to Lagos only began in the 1920s, many decades after it had become a flourishing city of trade, education and industry, so even in that respect you and your ilk reverse cause and effect - it was the already extant prosperity of the city that drew - and continues to draw - Igbos to it, rather than any particular contributions of theirs setting it apart. As for the idea that SS (not SE) oil money "developed" Lagos, one would have to be ignorant enough to think the place was "undeveloped" until 1970 to swallow such manifest nonsense - but here you and your bandwagon of ignoramuses clearly qualify.

The notion that funds from the much poorer northern and south-eastern parts of Nigeria ever played a meaningful role in "developing" a place which had always been worth more than the rest of the country is rubbish from start to finish, cooked up in the ignorant brains of people whose inferiority complexes cannot allow them to absorb indisputable facts that are trivial to confirm with a simple Google search or two. Or you might even consult a professional history of Nigeria or two, such as the ones by Richard Bourne or Toyin Falola; but who am I kidding? The desire to seek out objective knowledge is totally foreign to the likes of tribal chest-beaters like you, who would rather believe and propagate nonsensical lies that happen to bolster their fragile sense of self-worth.