Trending
- Africa’s $824Bn debt, resource-backed opaque loans slowing growth — AfDB
- LB Investment brings $1.2 trillion portfolio display to AIM Congress spotlight
- AmCham Summit kicks off, setting course for robust future of US-East Africa trade ties
- Why the UN is raising the red flag on the UK-Rwanda asylum treaty
- Portugal’s Galp Energia projects 10 billion barrels in Namibia’s new oil find
- Wärtsilä Energy offers tips on how Africa can navigate energy transition and grid reliability
- Powering Africa: Africa’s Path to Universal Electricity Access
- Global investment trends at AIM Congress 2024: a spotlight on the keynote speakers
Browsing: Nigerian Investment Promotion Commission (NIPC)
Investors are set to pump a total of $8.41 billion into Nigeria’s economy.
According to the Nigerian Investment Promotion Commission (NIPC), more jobs will be created since the investors are targeting various sectors in the country.
NIPC Executive Secretary Yewande Sadiku who made the announcement during a media briefing in Abuja said the country’s unemployment level is the second highest globally.
Sadiku noted that the $8.4billion is pledged for the first quarter of the year, while over 23.19 million Nigerians, according to the National Bureau of Statistics (NBS) report, were unemployed during the fourth quarter of 2020.
However, Sadiku said although investment announcements are not actually investment, it gives an aggregate of investors’ interest in Nigeria and also help to translate those announcements to actual investment.
According to her, the Commission has been honest on the gap between announcement and actual investment demonstrating potential.
“We have also said that a …