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Nigeria attracts $15.15bn investment commitment in first half of 2019

By Victoria Ojeme

ABUJA: Foreign investors in several sectors of the Nigeria economy made investment commitments to the tone of $15.15 billion within the first half of 2019.

Nigeria, China
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Figures obtained from the Nigerian Investment Promotion Commission, NIPC shows that the $15.15bn proposed investments were made for 43 projects in 12 states and the Federal Capital Territory.

Comparatively, the proposed investments for the first half of this year showed a 67 per cent decline when compared to the corresponding period of 2018.

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Investments ‎commitments are made by would be investors in specific sectors of the economy, which the NIPC follows up to ensure its full maturity and benefits to the Nigerian economy.

According to NIPC records, mining and ‎quarrying recorded investment announcements of $12.3bn averaging 81 per cent of the total investment proposal made

Manufacturing also recorded $2.2bn worth of investment announced.

Within the period under review,‎ finance and insurance recorded $200m investment worth; while information and communication $200m.

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