By our correspondent
Nigerian Investment Promotion Commission(NIPC) has disclosed that it has collated at least $9.29bn investments in third quarter 2019 alone.
Executive Secretary of NIPC,Ms Yewande Sadiku, made this known on Friday in Abuja at a news conference.
According to Sadiku, a total of 13 projects across four states and offshore Nigeria were announced by investors from four countries.
She added that Sterling Oil Exploration and Energy Production Company Limited (SEEPCO) had a joint venture project of 3.15 billion dollars with the Nigerian National Petroleum Corporation (NNPC) for the development of Oil Mining Lease (OML) 13.
She further said that CMES-OMS Petroleum Development Company (CPDC) was also in a joint venture project with NNPC to the tune of 875.75 million dollars for the funding, provision of technical services and alternative financing for the development of OML 65.
“Announcements from Nigerian companies accounted for 98 per cent by value, and these investments were mainly in the development of oil fields. This shows the growing capacity of Nigerian companies in the oil and gas sector of the economy,’’ she said.
Sadiku addedthat mining and quarrying sector accounted for 98 per cent.
Sadiku, who disclosed that major destination as the Niger-Delta region with 87 per cent, while Lagos, Kaduna, Anambra and Ogun states accounted for less than one per cent, said that the other destinations were not made public by the investors.
The NIPC boss said that the investment report was aimed at letting Nigerians know efforts being made by the Federal Government to woo foreign investors to the country in order to boost the economy.
“NIPC did not independently verify the authenticity of the investment announcements but is working on tracking the announcements as they progress to actual investments,’’ Sadiku said.
