Senator Udo Udoma, the Minister of Budget and National Planning said that 18 states and the Federal Capital Territory engrossed investment worth $73.08bn for 65 projects between January and March 2018.
He specified this while speaking on efforts by the Federal Government to make Nigeria an attractive place for businesses to thrive.
He said this during the ‘42nd annual conference of the Institute of Chartered Secretaries and Administrators of Nigeria’, in Lagos on Thursday.
Udoma said, “These efforts are productive as fresh surveys conducted by the Nigeria Investment Promotion Commission specify that there has been a significant rise in investment interests in Nigeria.
Reports from the NIPC stated that for the first three quarters of 2018, a total of $73.08bn worth of proposed investments were announced for 65 projects in 18 states and the FCT.”
While giving the sectoral breakdown of the figures, he said there were 11 sectors of interest, with mining and quarrying accounts for 43 percent of the total value, while construction accounts for 25 percent.
According to the minister, the Federal Government has ordered developments in the business climate to make Nigeria an beautiful place for business to be conducted.
Udoma further said, that the country was making progress in its efforts to recover and expand the economy, pointed out that the economy was not appropriately expanded.
“While the oil and gas sector constitute less than 10 percent of our Gross Domestic Product, it still represents too large a percentage of our foreign exchange earnings,” he added.