NIPC has published the Report of Investment Announcements for January to June 2021, tracking US$10.11 billion in announced investments for the first half of the year — approximately 99.7% more than the US$5.06 billion recorded in the corresponding period in 2020. A total of 29 projects were tracked across 14 states.
Q1 2021 dominated the period, accounting for US$8.41 billion (83.3%) of the total, with Q2 contributing US$1.69 billion (16.7%). The top five announcements from Q1 accounted for US$8.1 billion and the top five from Q2 for US$1.6 billion. Delta State recorded US$2.94 billion in seaport construction and power transmission, Akwa Ibom State had US$1.4 billion in mining and quarrying, and Lagos State attracted US$0.7 billion across various sectors. Together, the four leading states accounted for 85% of total announcements.
The top sectors were manufacturing (58%), construction (29%), electricity, gas, steam and air conditioning supply (7%), and information and communications (4%). Domestic investors were the most active during the period, accounting for 33% of announcements, followed by Morocco (14%), China (9%), and the United Kingdom (6%).
