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The Nigerian Investment Promotion Commission says Lagos, Rivers, Oyo and five other states received investment announcements worth $8.9 billion between July and September 2021.
The Director of Strategic and Services of the Commission, Abubakar Yerima, who spoke when he unveiled investments for the third quarter of 2021,said Lagos State took the lion share of the investment, accounting for 81 per cent (US$7.29 billion) of the total in manufacturing, information and communications, finance and insurance, human health and social services and electricity.
According to him, Rivers State recorded $300 million worth of investment in manufacturing and transportation, while and Oyo State had $231 million announced in electricity and trade (e-commerce).
The other four States accounted for 87 per cent of the total investments.
He said that there was over 130 per cent increment in the Investment announcement when compared with the 2020 third quarter.
He added that domestic investors were the most active during the period, accounting for 47 per cent of the announcements, followed by announcements from South Korea (22%), South Africa (16%) and the Kingdom of Spain (6%).
The Acting Executive Secretary of the NIPC, Emeka Offor, in his remarks announced that Nigeria will be participating in the World Expo, which will be held in Dubai, United Arab Emirates from October 2021 till March 2022.
According to Offor, over 25 million visitors from 192 countries are expected in Dubai during the period of the Expo and Nigeria will be hosting a trade and investment forum as one of the side events.
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