Nigerian Investment Promotion Commission (NIPC) has disclosed that the country recorded $8.41 billion investment announcement in the first quarter (Q1) of 2021.
Speaking at the weekend in Abuja, the Executive Secretary of NIPC, Yewande Sadiku stated that “investment announcement aims to follow up on interest indicated by investors to see whether they could be turned into actual investments.
In the announcement portfolio, Ogun and Lagos States are among the top investment destinations.
Yewande said that there was a decline in the numbers recorded. she, therefore, called on the state governments to deepen collaboration with the Agency in providing the basic business-friendly environment to enable transmission of announcement into actual investment.
“It is a difficult job to get investors to invest in your country. The job of NIPC cannot be done by one Agency.
“We need to come together to make investors come to Nigeria and actually invest in the country, that is one of ways we can create jobs,” Yewande noted.
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She said a more proactive all of the government approach to investors support across Federal government Agencies and the state governments is required to convert more announcements into actual investments.
The NIPC stated that bold coherent policy changes and deep economic reforms will be required to reverse the decline of investment announcement in 2020/2021.
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