NIPC has published the Report of Investment Announcements for Q3 2021, tracking US$8.99 billion in announced investments between July and September 2021 — 130% more than the US$3.95 billion recorded in the corresponding period in 2020. A total of 33 projects were tracked across 8 states, with August being the most active month, accounting for 64% of total announcements.
Lagos State received the largest share with 20 projects accounting for US$7.29 billion (81% of total), spanning manufacturing, information and communications, finance and insurance, health, and electricity. Rivers State recorded US$300 million in manufacturing and transportation, and Oyo State had US$231 million in electricity and trade (e-commerce). The four leading states accounted for 87% of total investment announcements.
The top sectors were manufacturing (42%), electricity, gas, steam and air conditioning supply (25%), information and communications (23%), and transportation (7%). Domestic investors led activity at 47%, followed by South Korea (22%), South Africa (16%), and Spain (6%).
