Nigeria records N151bn investments in Q1 2020-NIPC
Nigeria has recorded a total of N151.91bn investment in the first quarter of 2020, the Nigerian Investment Promotion Commission has revealed.
The first quarter, 2020 report released by the Nigerian Investment Promotion Commission (NIPC) shows that 18 new applications and 1 extension application were received during the period with 8 applications granted approvals-in-principle, each for 3 years.
The companies also made a total investment of N151,916 billion, have 1,460 staff and are in various sectors including agriculture, construction, administrative service, information & communication, and manufacturing.
READ ALSO: Equities market gains 0.67% in one week
This information was contained in the Nigerian Investment Promotion Commission report of Pioneer Status Incentive (PSI) applications processed between 01 January and 31 March 2020.
One company was granted an extension for 2 years; the company had a total investment of N88,700 billion, while its staff strength was 573.
The report further revealed that one company was granted Pioneer Certificate with the confirmed production date. During the reporting period, 3 applications were declined.
As at 31 March 2020, 39 companies were still enjoying PSI, no application was deemed abandoned, 125 applications were still pending, and no PSI certificate was cancelled.
Equities market gains 0.67% in one week
Related to this topic:
Bauchi records progress in fight against HIV/AIDS
You must be logged in to post a comment.