POTENTIAL INVESTMENTS IN NIGERIA $45.74bn FIRST HALF 2018

If investment announcements tracked by the Nigerian Investment Promotion Council ( NIPC) are anything to go by,  about  $45.74bn has been or will be invested in Nigeria soon.

According to the report for the first half of this year as tracked and published in NIPC's newsletter from January to June, 42 projects in 9 states of the federation were announced and amount to $45.74bn.

The figure represents 137% increase on the $19.3bn in 45 projects for 23 states tracked in the first half of 2017.

However, it is 2.7% or $1.27bn lower than the $47.01bn worth tracked in the second half of 2017.

In all, the total value of tracked investment announcements throughout 2017 was $66.4bn out of which first half ratio that year was 29.1%.

In other words, should 2017's trend be repeated, tracked investments should be worth some $157.2bn this year, given the first half report.

Most of the tracked potential investments in 2018 first half were headed for Rivers State ($16bn or 35%); Balyelsa ($12bn or 26%); Lagos ($11.9bn or 26%) and Delta state ($3.1bn or 7%) with other states accounting for $2.7bn or 6%.

By sector, the announced projects were in mining and quarrying ($28.1bn or 61%); manufacturing (12.9bn or 28%); Transportation and storage ($2.1bn or 5%) and others ($2.6bn or 6%).

The distribution of 2017 first half tracked investments was 47% manufacturing, 11% transportation and storage, 8% electricity, gas etc and 3.3% for others.

By country of origin, the tracked announcements 2018 first half were 35% from France, 31% from within Nigeria; 20% from the United Kingdom; Luxembourg (7%) and others 8%.

In 2017 first half, it was 32% from the UK, 19% from the United States of America, 7% from within Nigeria and others 29%.

Of course, since these announcements tracked by the NIPC, the actual figures and ratio could differ. Also, the report does not state which of the tracked announcements have come to fruition or are ongoing right now.

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