LOCATION. In the space of three months real estate, power, 2 other sectors attract $8.35 billion!

In the first quarter of 2021, the real estate, power, manufacturing and agriculture sectors received an investment of $8.35 billion because they made the four top investment destinations. Qatar for sale | Apartments for sale

The transportation system (42 percent), information and communication (33 percent), mining and quarrying (21 percent), and agriculture (4 percent) took the lead in the same period in 2020.

This was disclosed in its Report of Investment Announcements, Q1 2021 by the Nigerian Investment Promotion Commission (NIPC).

It said the manufacturing industry received most investments, representing 60% (5.08 billion dollars), followed by construction (2.90 billion dollars), electricity (0.26 billion dollars) and agriculture (0.11 billion dollars).

NIPC report highlights

In Q1 2021, the federal government was the main source of investment with 35% ($2.95 billion). This was contrary to the record in 2020, when the United States of America, with 42% of the announcements, was the most active source of investment.

South Africa accounted for 33 percent, 16 percent of domestic investors and 8 percent of the investments tracked in the United Kingdom.

Morocco ($0.40 billion), United Kingdom ($0.24 billion), and the United States ($0.08 billion) were other sources of investment in Nigeria.

Nigeria has received 15 projects in eight countries as compared to Q1 2020, with 19 in fourteen states, including the Federal Territory of Capital (FCT).

What should you know about this report?

However, the Commission stated that the report could not provide exhaustive information on all investment announcements in Nigeria during the review period because it was only based on the 340 news items quoted by the NIPC from January to March 2021.