The Acting Executive Secretary of NIPC, Mr Emeka Offor at a press briefing in Abuja on Wednesday, disclosed that  Nigeria had a total of $23.30 billion in investment announcements for the year 2021, a 39% increase compared to $26.74 billion in 2020.

While Lagos State led the list for announcements at $8.7 billion, Nigeria’s Manufacturing sector had the highest number of projects (20) with  $10.5 billion dollars representing 45% of investment announcements.

The NIPC chief said the work for NIPC in the next five years has been appropriately defined by the National Development Plan 2021–2022 (NDP), which has projected a capital requirement of N348.7 trillion with 86% (N298.3 trillion) expected to be provided by the private sector.

On 2021 investment announcements, it disclosed that 2021 saw announcements rise by 39% to $23.30 billion, higher than the $16.74 tracked in 2020, citing an increase in value, indicative of growing adaptation to the global ‘new normal’ after the economic disruption by restrictions imposed to check the spread of COVID-19 pandemic.