The Nigerian Investment Promotion Commission (NIPC) has disclosed that Sokoto State attracted the highest investment commitments of $1.05 billion in the first three months of 2022, representing 41 per cent of the total commitments this year.
It is followed by Lagos State with $0.88bn, representing 34 per cent of the entire commitments.
This is even as it disclosed that investment commitments declined from $8.41 billion in the first quarter of 2021 to $2.58 billion within the same period in 2022.
This was contained in the NIPC Report of Investment Commitments in Nigeria (January to March 2022).
This shows that investment commitments declined by 69.32 per cent from Q1 2021 to Q1 2022.
According to the report, the investment commitments in Q1 2022 cut across 33 projects and five states, alongside the Federal Capital Territory (FCT).
The report further pointed out that the manufacturing sector attracted the highest investment commitments of $1.1 billion, which is 45 per cent of the total commitments, followed by the agriculture sector with $0.64 billion, which is 25 percent of the total commitments.
It also showed that about $1.13 billion investment commitments came from Nigerian investors, which is 44 per cent of the whole commitments, while the United States investors made $1.01 billion investment commitments, which is 39 per cent of the entire commitments in Q1 2022.
