Lagos leads in investment announcements in 2021 at $8.7 billion – NIPC
William Ukpe 10 Feb,2022

$23.30 billion announced nationwide, 39% increase from 2020.

The Nigerian Investment Promotion Commission (NIPC) has announced that Nigeria had a total of $23.30 billion in investment announcements for the year 2021, a 39% increase compared to $26.74 billion in 2020.

This was disclosed by Acting Executive Secretary of NIPC, Mr Emeka Offor at a press briefing in Abuja on Wednesday, according to the News Agency of Nigeria.

While Lagos State led the list for announcements at $8.7 billion, Nigeria’s Manufacturing sector had the highest number of projects (20) with $10.5 billion dollars representing 45% of investment announcements.


What the NIPC is saying about the investments


The NIPC chief said the work for NIPC in the next five years has been appropriately defined by the National Development Plan 2021–2022 (NDP), which has projected a capital requirement of N348.7 trillion with 86% (N298.3 trillion) expected to be provided by the private sector.

“Mobilisation of this capital has become the focus of the commission. It is in this respect that the commission has begun the process of validating the records of the investment announcements.

“We expect the report from this exercise to give us a further understanding of investors’ readiness to invest in Nigeria,’’ Offor said.

On 2021 investment announcements, it disclosed that 2021 saw announcements rise by 39% to $23.30 billion, higher than the $16.74 tracked in 2020, citing an increase in value, indicative of growing adaptation to the global ‘new normal’ after the economic disruption by restrictions imposed to check the spread of COVID-19 pandemic.

“It also indicates the growing confidence of investors in the efforts to improve the national investment landscape,’’ he said.

“The top five states by value of investments, are Lagos (8.7 billion dollars), Bayelsa (3.6 billion dollars), Delta (2.9 billion dollars), Akwa Ibom State (two billion dollars), and Adamawa (one billion dollars).

“The manufacturing sector has the highest number of projects (20) as well as the highest value, 10.5 billion dollars representing 45%.

“The construction sector has 16%, electricity, gas, steam and air conditioning supply 13%, information and communication 12% and mining and quarrying nine percent made up the top five sectors for the year,’’ he added.

Recall Nairametrics reported last year that NIPC announced that Nigeria’s manufacturing sector topped investment announcements for the 3rd quarter of 2021 with US$8.99 billion, attracting 42% of the investments in the country.

https://nairametrics.com/2022/02/10/lagos-leads-in-investment-announcements-in-2021-at-8-7-billion-nipc/

Cc Seun Mynd44 Lalasticlala

Lagos leads other states follow.

Not a Tinubu fan oo but other state's governors need to go to BAT for internship before assuming the seat of governor ah swear.

Ogun and Anambra are leading in skull mining investments

YET MAKOKO WAS AWARDED THE WORLD BIGGEST SLUM UNDER TINUBU WATCH

Congratulations to Lagos.

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Overrated Slum

Lagos to me is just a little bit like Peckham

aribisala0:
Peckham is a slum?
Just open your mouth to blab

Is Peckham as big as the University of Lagos Campus?

Yen yen yen

What's the difference between living in Lagos and living in Peckham


Lagos is Overrated and that's what you people hate to hear,

muykem:
Yes. Lagos is like elephant, the part that a blind man torch will determine his narration. Poor people such as your family are feeling the worst part of Lagos but Lagos doesn't end there dear.

I have been living in Tottenham for the past 18 months, and I know Lagos is trash, Just pray to God you have the opportunity to leave Nigeria,

The World is a big elephant like you said, poor people like you and your family have only touched a part of the world ( Lagos ) and to you, you're living in Heaven, You really need to Start going out, your view is myopic.

Ok

Ok

Not bad

EXEMPLO DUCEMOS for other state

Flatheadss nkor

OBALOLA55:



YET MAKOKO WAS NAMED THE WORLD BIGGEST SLUM UNDER TINUBU WATCH

Boss rest. No country in this world wey no get slum

LILTJAY1:
Flatheadss nkor

IS THIS NOT THE REASON WHY YOU ARE CLAIMING LAGOS INDIGENE

Adamawa is doing well.

Lagos is home to everybody OYO, OGUN, EKiti, Osun, Ondo and Kwara
We follow get Lagos

I am Lagos Indigine so yes , everyone is welcomed to Lagos

Why wouldn't they lead when the one functioning international airport and seaports are based in Lagos. Secondly it was formerly the capital of Nigeria.Let move to the next topic.

Faller:
Overrated Slum

Lagos to me is just a little bit like Peckham

Peckham is a slum?
Just open your mouth to blab

Is Peckham as big as the University of Lagos Campus?

Emeskhalifa:


Boss rest. No country in this world wey no get slum

HAVE YOU CHECKED THE LATEST SLUM RANKING

verybadmouth:
Ogun and Anambra are leading in skull mining investments

inferiority complex brought Anambra into your post.

OBALOLA55:
;DIS THIS NOT THE REASON WHY YOU ARE CLAIMING LAGOS INDIGENE

dont understand your point

aribisala0:
Peckham is a slum?

somebody that has never left afikpo

Lagos leads others follow

Thank God for the right leadership Lagios has enjoyed since 1999 till date

NaijaRoyalty:
Lagos is home to everybody OYO, OGUN, EKiti, Osun, Ondo and Kwara
We follow get Lagos

I am Lagos Indigine so yes , everyone is welcomed to Lagos

All Nigerians get Lagos if you decide to include kwara.
Which family compound you from?
Which Lagos area?

NaijaRoyalty:
Lagos is home to everybody OYO, OGUN, EKiti, Osun, Ondo and Kwara
We follow get Lagos

I am Lagos Indigine so yes , everyone is welcomed to Lagos

ipobian, emeka can't be indigene in lagos

hollywater:
Why wouldn't they lead when the one functioning international airport and seaports are based in Lagos. Secondly it was formerly the capital of Nigeria.Let move to the next topic.

Abuja has been the capital longer than Lagos was. Abuja has international airport with massive investment from Federal purse. Why has Abuja not surpass Lagos?