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Bayelsa among top foreign investment destinations in Nigeria, says NIPC

By News Express on 23/09/2018

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•Bayelsa State for Information and Orientation, Daniel Iworiso-Markson
•Bayelsa State for Information and Orientation, Daniel Iworiso-Markson

The Bayelsa State Government has expressed delight over recent ratings by reputable organisations, confirming the state as being financially stable, fiscally responsible and generally peaceful for investment and leisure.

The Commissioner for Information and Orientation, Daniel Iworiso-Markson, made the feelings of the government known while reacting to the latest feat contained in a report put together by the Nigeria Investment Promotion Commission (NIPC).

The NIPC in the report said for the first six months of 2018, three states comprising of Rivers, Bayelsa and Lagos top the list of foreign investment destination in Nigeria. 

The report explained that Rivers State received 35% of the $45.74 billion invested in 42 projects in nine states and the Federal Capital Territory (FCT) during the period, followed by Bayelsa and Lagos states with 26% each.

The NIPC added that the sectoral analysis of the investment profile shows that mining and quarrying accounted for 61% of the total investment and manufacturing 28%.

Other sectors are transportation and storage, 5%, real estate, 3% and the remaining sectors accounting for 3%.

The report also showed that the investments were from investors in 11 countries, with French companies accounting for 35% of the value, closely followed by Nigerian companies at 31%.

According to the report, the UK’s investment stood at 20%; Luxembourg 7% and the remaining 8% were from the other countries.

Iworiso-Markson congratulated Governor Henry Seriake Dickson for the achievement, noting that it was a product of hard work and determination of the governor to place the state on the global map.

He explained that in the over six years of the present administration, the governor had initiated sound policies and programmes to open up the state and drive critical investment like the Bayelsa International Airport,  the Agge Deep seaport, the proposed Brass Fertilizer, among others.

The Government spokesman in a statement released at the weekend in Yenagoa, said the state was able to attract investors and investments because of the stable leadership provided by Governor Dickson.

The Commissioner further explained that it was because of the stable leadership that has made Bayelsa to be peaceful and safe over the last six years, adding that the governor have also created an investment friendly environment with huge potentials for big businesses.

He mentioned last Friday hosting of the Most Beautiful Girl in Nigeria (MBGN) pageant to buttress his point, insisting that the event just like many others in the past was a huge success.

Iworiso-Markson added that with another couple of years, particularly with a sustenance on the legacies and policies of the Dickson administration, Bayelsa will soon be the leading state in Nigeria and the favourite investment destination.

Source News Express

Posted 23/09/2018 05:03 AM

 

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