The Nigeria Investment Promotion Commission (NIPC) has said Nigeria’s annual investment inflows averaged N4.940 trillion ($13 billion) in the last five years.
The Head of NIPC’s Strategic Communications, Emeka Offer, said this while speaking at the Nigeria Finance virtual event on Wednesday.
He stated that available records showed that Foreign Portfolio Investment accounts for about 60 per cent of the inflows while Foreign Direct Investment accounts for less than10 percent.
According to him, FDI has become an important source of capital for sustainable development in most developing countries. Nigeria’s development plan has always factored in the inflow of private capitals,” he said.
Also speaking, the Executive Secretary of the NIPC, Ms Yewande Sadiku, said the bulk of Nigeria’s investment opportunities were available in states.
Sadiku explained the commission had a compilation of investment opportunities in subnational levels in the country.
She encouraged foreign investors, who are yet to invest in Nigeria, to do so, saying the investment opportunities in states are enormous.
The Head of Anambra State Investment Promotion and Protection Agency, Jide Ikeako, said the state has been successful in attracting investments.
Ikeako said the Agency manages the state’s investment portfolios in addition to helping investors’ success.
The Head of Lagos State Office of the Sustainable Development Goals and Investment, Solape Hammond, said Lagos State has been encouraging businesses and protecting investments to make doing business easier in the state.
Hammond said in 2020, Lagos State did not introduce new taxes, but rather reduced taxes and even deferred payments of loans due to the coronavirus pandemic and EndSARS protests.
 has said Nigeria’s annual investment inflows averaged N4.940 trillion ($13 billion) in the last five years.){kind=link}