ADVERTISEMENT
The Sun Nigeria
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
The Sun Nigeria
No Result
View All Result
ADVERTISEMENT
Home Business

Nigeria records US$8.41bn investments in Q1 2021 – NIPC

... Says Material FDI driven by Policies

1st May 2021
in Business
0
Nigeria records US$8.41bn investments in Q1 2021 – NIPC
0
SHARES
170
VIEWS
Share on FacebookShare on Twitter

By Henry Uche

The Nigerian Investment Promotion Commission (NIPC) said it tracked $8.41bn worth of Investments from 15 Projects across eight States. The States include: Bayelsa, Lagos, Kano, Nasarawa, Delta, Edo, Bauchi and Akwa Ibom.

At the Q1 NIPC media Parley, the Director, Strategic Communications of NIPC, Emeka Ofor in his presentation said, the sources of the investments into these States are the United kingdom, the United States, India, China, Nigeria and others, while the sectors affected were manufacturing, construction, Mining & Quarrying, Agriculture and Electricity.

The Director stressed that other States in the federation need to wake up with sound Investments ideas to attract both local and International investors to help their States more viable and Independent without federal allocations.

“Material Foreign Direct Investment (FDI) can only be driven by government policies both at State and federal level. There is need for bold and coherent policy changes to deepen economy reform to reverse the decline expected in 2020/ 2021.

“The gaps between announcement and actual investments need to be worked on, and a more proactive all -of government approach to investors’ support accross federal and States’ government is required to convert announcement to actual Investments,”

He cautioned the media against escalating news particularly critical news capable of scaring and driving investors to other climes, saying, “We must not unnecessarily escalate news, let’s try to reduce the tempo because a single reportage may cause damage to to country, investment-wise, so we must be cautious about our reportage,” he added.

In his presentation, the assistant Director, Incentives Administration Division of NIPC, Uchenna Okonkwo, who gave the summary of Pioneer Status Incentive (PSI) for the Q1 2021, said a total of 17 PSI was granted in Q1 2021, comprising a total of Capital Investments worth N99.45bn and a total of 4,026 jobs created with Ogun toping destination while manufacturing tops by sector.

According to Okonkwo, Anambra, FCT, Kano, Lagos, Ogun Oyo and Kwara got NIPC’s PSI approval in the same quater of the year under review, with capital investment worth N3.705.07bn, cumulatively. He called for Concerted effort to resuscitate the economy.

Tags: Emeka OforNigerian Investment Promotion Commission (NIPC)NIPC
Ajiri Daniels

Ajiri Daniels

Sun News Online Team

Related Posts

China blocks some Taiwan imports but avoids chip disruption
Business

China blocks some Taiwan imports but avoids chip disruption

3rd August 2022
NSE: Equities’ index, value tumble to new lows
Business

Interest rate hike trims investors’ wealth by N780bn

3rd August 2022
Agusto & Co. 2021: Nigerian insurance industry forging ahead amidst headwinds
Business

Agusto & Co affirms Parthian Partners ‘Bbb’ Rating

3rd August 2022
Next Post
May Day: NAAT tasks FG to prioritise security, welfare of workers

May Day: NAAT tasks FG to prioritise security, welfare of workers

FCT community cries out over threats of demolition

FCT community cries out over threats of demolition

Herdsmen attacks: Benue Youths calls on International Community to intervene

Herdsmen attacks: Benue Youths calls on International Community to intervene

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Highlights

Equity Movement Turn By Turn commends Nigerians for supporting Peter Obi, calls for more support

Nigeria to host 2025 AFCON – Pinnick

Buhari swears in three new Permanent Secretaries

Food Insecurity: Oba Ewuare Foundation donates foodstuffs to Edo residents

Road to 2023: Obi supporters are not rude, they’re victims of failed system – Prof Nwaokobia Jnr

Founder of Susan Chanel Beauty Susan Esisi splashes out billions on new property, marks birthday with pomp and pageantry

Trending

Igbinedion varsity to absorb 2,500 displaced Ukraine students
Education Review

Igbinedion varsity to absorb 2,500 displaced Ukraine students

3rd August 2022
0

From Fred Ezeh, Abuja Igbinedion University Okada has entered into academic agreement with the V.N.Karazin Kharkiv National...

Middle Belt Journalists' Forum debunks fake media report on ITF DG Joseph Ari

Middle Belt Journalists’ Forum debunks fake media report on ITF DG Joseph Ari

3rd August 2022
EDOCSO wants NBA to close ranks with rights groups to checkmate rights violation

EDOCSO wants NBA to close ranks with rights groups to checkmate rights violation

3rd August 2022
Equity Movement Turn By Turn commends Nigerians for supporting Peter Obi, calls for more support

Equity Movement Turn By Turn commends Nigerians for supporting Peter Obi, calls for more support

3rd August 2022
Nigeria to host 2025 AFCON - Pinnick

Nigeria to host 2025 AFCON – Pinnick

3rd August 2022
ADVERTISEMENT

Follow us on social media:

Latest News

  • Igbinedion varsity to absorb 2,500 displaced Ukraine students
  • Middle Belt Journalists’ Forum debunks fake media report on ITF DG Joseph Ari
  • EDOCSO wants NBA to close ranks with rights groups to checkmate rights violation
  • Equity Movement Turn By Turn commends Nigerians for supporting Peter Obi, calls for more support
  • Nigeria to host 2025 AFCON – Pinnick
  • Buhari swears in three new Permanent Secretaries
  • Food Insecurity: Oba Ewuare Foundation donates foodstuffs to Edo residents
  • Road to 2023: Obi supporters are not rude, they’re victims of failed system – Prof Nwaokobia Jnr
  • Founder of Susan Chanel Beauty Susan Esisi splashes out billions on new property, marks birthday with pomp and pageantry
  • Senate set to vote to ratify adding Sweden, Finland to NATO
  • Lebanon: Clergy, bags of cash set off new sectarian brawl
  • China, US allies divided over Pelosi’s Taiwan visit
  • China blocks some Taiwan imports but avoids chip disruption
  • Air Force Chief meet with operational commanders over insecurity
  • BREAKING: IGP meets top police chiefs over rising insecurity
  • UK: Parents of boy in life-support battle go to European court
  • Kenya: Election rips open scars of inequality, corruption
  • Ship with Ukrainian corn anchored off Turkey for inspection
  • Nasarawa: Sule to name Eggon Modern Market after Aren Eggon
  • Road to 2023: How I’ll tackle insecurity in Taraba – PDP candidate Agbu

Categories

  • Abuja Metro
  • Anambra Watch
  • Arts
  • Broken Tongues
  • Business
  • Business Week
  • Cartoons
  • Citizen Joe
  • Columns
  • Cover
  • Culture
  • Duro Onabule
  • Editorial
  • Education Review
  • Effect
  • Elections
  • Entertainment
  • Events
  • Features
  • Femi Adesina
  • Food & Drinks
  • Frank Talk
  • Funke Egbemode
  • Gallery
  • Global Square by Kenneth Okonkwo
  • Health
  • Insights
  • Kalu Leadership Series
  • Kunle Solaja
  • Kunle Solaja
  • Letters
  • Lifeline
  • Lifestyle
  • Literary Review
  • Marketing Matters
  • Muiz Banire
  • National
  • News
  • Offside Musings
  • Opinion
  • oriental news
  • Politics
  • Press Release
  • PressClips
  • Public Sphere
  • Ralph Egbu
  • Shola Oshunkeye
  • Sideview
  • South-west Magazine
  • Sponsored Post
  • Sporting Sun
  • Sports
  • Sun Girl
  • Tea Time
  • The Flipside – Eric Osagie
  • The Sun Awards Live
  • The Sun TV
  • Thoughts & Talks
  • Time Out
  • Today's cover
  • Tola Adeniyi
  • Travel
  • Travel & Tourism
  • Trending
  • TSWeekend
  • Turf Game
  • Uncategorized
  • Updates
  • Views from Abroad
  • Voices
  • World
  • World News
  • About Us
  • Paper Ad Rate
  • Online Ad Rate
  • Change of Name
  • The Team
  • Contact Us
  • Privacy Policy

© 2019 The Sun Nigeria - Managed by Netsera.

No Result
View All Result
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun

© 2019 The Sun Nigeria - Managed by Netsera.