NIPC has published its Report of Investment Announcements for Q1 2021, showing that US$8.41 billion was tracked — approximately 75% more than the US$4.81 billion tracked in the same period in 2020. The improvement reflects the gradual return of global investor confidence following the COVID-19-induced decline in capital flows.
A total of 15 projects across 8 states were tracked through NIPC's Intelligence Newsletter during the period. Bayelsa State led with US$3.6 billion in mining and quarrying. Delta State recorded US$2.94 billion in seaport construction and power transmission, Akwa Ibom US$1.4 billion in mining and quarrying, and Lagos US$0.26 billion in finance, insurance, and manufacturing. The leading four states accounted for 97% of the total — a more concentrated distribution than the 56% top-four share in Q1 2020.
Manufacturing was the dominant sector at 60% of announcements, followed by construction (34%). Domestic investors were the most active, accounting for 35% of the period's announcements. Morocco was second at 17%, followed by the UK (3%) and USA (1%). NIPC notes that its reports are based on investment announcements cited in the Intelligence Newsletter and may not capture all announcements in Nigeria during the period. Stated figures represent intentions and are not independently verified.
