• Latest
  • Trending
  • All
Oyo Pays N199m Outstanding Gratuities Of 76 Retires

Oyo, 12 Other States Attract $5.3bn investment (SEE DETAILS

March 4, 2018
Saki West Majority Leader Empowers Youth With Digital Skills

Saki West Majority Leader Empowers Youth With Digital Skills

December 3, 2023
Precious Cornerstone University Unveils New Vice Chancellor, Registrar

Precious Cornerstone University Unveils New Vice Chancellor, Registrar

December 3, 2023
Oyo Govt Sets For 2nd Phase Of Polio Vaccination Exercise For Children

Oyo Govt Approves Hectares of Land for FRSC Command College

December 2, 2023
Pioneer Movement Awards Outstanding Students, Teachers In Iseyin

Pioneer Movement Awards Outstanding Students, Teachers In Iseyin

December 2, 2023
Makinde Signs Executive Orders On Mining, Establishment Of Tourism Ministry

Makinde Mourns Three Oyo Monarchs Killed In Road Accident

December 2, 2023
Poly Ibadan Postpones Examinations As Students’ Protest Paralysis Activities

Poly Ibadan Directs Students To Vacate Halls, Proceeds On Indefinite Mid-semester Break

December 2, 2023
Four Dead, Many Injured As Bus Somersaults On Ibadan-Oyo Expressway 

Tragedy As 3 Oyo Monarchs Die In Auto Crash

December 2, 2023
215 Tailors In Oyo Central Benefit From Senator Akintunde’s Empowerment

215 Tailors In Oyo Central Benefit From Senator Akintunde’s Empowerment

December 1, 2023
Oyo First Lady Provides Financial Support To Gender-Based Violence Victims, Urges Them To Speak-up

Oyo First Lady Provides Financial Support To Gender-Based Violence Victims, Urges Them To Speak-up

December 1, 2023
Oyo Lawmaker, Akintayo, Congratulates Adeniran, Gbola Other New Appointees

Oyo Lawmaker, Akintayo, Congratulates Adeniran, Gbola Other New Appointees

November 30, 2023
Oyo Commissioner, Olayiwola, Congratulates Adeniran, RAD, Other New Appointees

Oyo Commissioner, Olayiwola, Congratulates Adeniran, RAD, Other New Appointees

November 30, 2023
Shina Peller Gifts New Aseyin Mercedes Benz S Class

Aseyin, Soun To Get Staff Of Office December 14, 19

November 30, 2023
">
  • InsideOyo
  • Contact Us
  • About Us
  • Privacy Policy
  • Submit A Story
  • Advertise with us
  • Support Us Today
Monday, December 4, 2023
  • Login
InsideOyo.com
  • Home
  • Political News
    • #OyoDecides – Oyo Elections 2023 I Live Updates
  • General News
  • Special Reports
  • Oyo Campus Gist
  • Jobs
  • Opinion
  • Interview
No Result
View All Result
InsideOyo.com
No Result
View All Result
">
">

Oyo, 12 Other States Attract $5.3bn investment (SEE DETAILS

by InsideOyo
March 4, 2018
in Political News
0
Oyo Pays N199m Outstanding Gratuities Of 76 Retires
">

Oyo and 12 other states, including the Federal Capital Territory, FCT, attracted the sum of $5.3bn (N1.9tn) investments in the last quarter of 2017, Punch investigation revealed on Friday.

 

RelatedPosts

Saki West Majority Leader Empowers Youth With Digital Skills

215 Tailors In Oyo Central Benefit From Senator Akintunde’s Empowerment

Oyo Lawmaker, Akintayo, Congratulates Adeniran, Gbola Other New Appointees

The investments made in 22 different sectors of the economy from October to December 2017, it was gathered, were the fallout of the new initiatives of government particularly in the area of ease of doing business.

">
ADVERTISEMENT

 

Based on the government’s official statistics, the FCT attracted the highest investment inflow with the sum of $2.68bn.

 

">

This is about 49 per cent of the entire investment inflow into the country during the three-month period.

 

Lagos State followed closely with $2.54bn investment, representing 47.2 per cent of the total investments into the country.

 

Akwa Ibom recorded an investment inflow of $124.84m; Ogun, $8.79m; OYO State, $7.03m; Delta, $5.69m; and Anambra, $3.77m.

 

Similarly, Enugu attracted a total investment of $644,890; Kogi, $500,000; Kano, $483,970; Bauchi, $425,000; Rivers, $384,817; and Kaduna, $89,975.

 

The sectors where the $5.3bn was invested are agriculture, $62.65m; banking, $543.37m; brewing, $2.3m; construction, $92.7m; consultancy, $2.06m; drilling, $0.3m; and electrical, $5.1m.

 

Others are financing, $122.68m; fishing, $99.4m; information Technology, $8.45m; marketing, $0.48m; oil and gas, $23.83m; production, $317.8m; and servicing, $216.45m.

 

The rest are hotels, $0.3m; telecoms, $191.01m; tanning, $0.52m; trading, $12.96m; transport, $0.55m; and shares, $3.68bn.

 

The Minister of Finance, Mrs. Kemi Adeosun, said the huge amount, which the Federal Government was spending on infrastructure projects across the country was attracting fresh investments into the country.

 

She said this when a delegation of about 20 investors visited him at the headquarters of the ministry to discuss investment opportunities in Nigeria.

 

">

Adeosun told the delegation led by a former Minister of Finance, Dr. Shamsudeen Usman, that in 2017 alone, the sum of N1.2tn was released by the ministry for implementation of capital projects.

 

She added that the ministry was ready to make such huge release this year once the 2018 budget currently before the National Assembly was signed into law by President Muhammadu Buhari.

 

She said part of the cardinal focus of the administration of President Buhari was to address the infrastructure deficit in the country.

 

This, she added, would be achieved through targeted spending at projects that would unlock the economic potential of the country.

 

She described the level of interest from foreign investors in the Nigerian economy as huge, adding that very soon, these interests would translate into massive investments that would create jobs and reduce the nation’s poverty level.

 

Adeosun said, “It’s a great time for investors to be in Nigeria. For us, it’s a better time now than last year because finally, we think that we are beginning to address through deliberate policies some of the most stubborn problems that have held back Nigeria’s growth.

 

We’ve gone through very difficult adjustments but we are seeing that the macroeconomic fundamentals are much more positive and the outlook is that they will remain positive.

 

“The good news is that we have actually begun to take steps in terms of reducing our (oil) benchmark price by keeping it low, allowing us to rebuild some buffers.

 

Our budget is predicated on lower oil price, and for me, we are focusing on revenue because we think that is the missing part of the Nigeria jig-saw.”

 

She said the economy had started seeing the impact of the expanded budget of the Federal Government with massive investment in power, road and rail.

 

“Our commitment in solving the infrastructure challenges in Nigeria is firm because we think that is what will unlock growth in agriculture and solid minerals and make us to move away from our over-reliance on oil,” the minister added.

Share this:

  • WhatsApp
  • Facebook
  • Twitter
  • Telegram
  • LinkedIn
  • Email

Like this:

Like Loading...
Tags: Abiola Ajimobi and Rauf Aregbesolainvestment flow into OyoOyo economyoyo state news
">
Previous Post

Taiwo Revealed How He Would’ve Been Killed With His Twin Brother At Trans Wonderland

Next Post

JUST IN: Oyo 2019: Ex-HoS, Adesoji Eniade, Officially Joins Guber Race

InsideOyo

InsideOyo

InsideOyo is an independent news medium for up-to-date events and happenings within and around Oyo state, Nigeria.

Related Posts

Saki West Majority Leader Empowers Youth With Digital Skills

Saki West Majority Leader Empowers Youth With Digital Skills

by Adebola Sanmi
December 3, 2023
0

Councillor representing Ward 4 and Majority leader of Saki West local government area of Oyo state, Honourable Saluadeen Kabeer Adebayo...

215 Tailors In Oyo Central Benefit From Senator Akintunde’s Empowerment

215 Tailors In Oyo Central Benefit From Senator Akintunde’s Empowerment

by Deji Moore
December 1, 2023
0

For tailors and fashion designers in the 11 local governments areas in Oyo central senatorial district, good times are here...

Oyo Lawmaker, Akintayo, Congratulates Adeniran, Gbola Other New Appointees

Oyo Lawmaker, Akintayo, Congratulates Adeniran, Gbola Other New Appointees

by Adebola Sanmi
November 30, 2023
0

A member of the Oyo State House of Assembly, Hon. Waheed Akintayo has congratulated the newly appointees made by the...

Oyo Commissioner, Olayiwola, Congratulates Adeniran, RAD, Other New Appointees

Oyo Commissioner, Olayiwola, Congratulates Adeniran, RAD, Other New Appointees

by Adebola Sanmi
November 30, 2023
0

The Commissioner for Local Government and Chieftaincy Matters, Hon. Olusegun Olayiwola has commended Governor Seyi Makinde for his choices in...

Next Post
JUST IN: Oyo 2019: Ex-HoS, Adesoji Eniade, Officially Joins Guber Race

JUST IN: Oyo 2019: Ex-HoS, Adesoji Eniade, Officially Joins Guber Race

Please login to join discussion

Trending Posts

  • Tragedy As 3 Oyo Monarchs Die In Auto Crash
    Tragedy As 3 Oyo Monarchs Die In Auto Crash
  • Makinde Mourns Three Oyo Monarchs Killed In Road Accident
    Makinde Mourns Three Oyo Monarchs Killed In Road Accident
  • Oyo Govt Approves Hectares of Land for FRSC Command College
    Oyo Govt Approves Hectares of Land for FRSC Command College
  • Poly Ibadan Directs Students To Vacate Halls, Proceeds On Indefinite Mid-semester Break
    Poly Ibadan Directs Students To Vacate Halls, Proceeds On Indefinite Mid-semester Break
  • Precious Cornerstone University Unveils New Vice Chancellor, Registrar
    Precious Cornerstone University Unveils New Vice Chancellor, Registrar

Are YOU in distress? Call Oyo State Emergency Number NOW!!!

oyo State Emergency Number

Click to download InsideOyo.com App

Join Our WhatsApp Group

InsideOyo.com

Copyright © 2023 Inside Media

Navigate Site

  • InsideOyo
  • Contact Us
  • About Us
  • Privacy Policy
  • Submit A Story
  • Advertise with us
  • Support Us Today

Follow Us

No Result
View All Result
  • InsideOyo
  • Contact Us
  • About Us
  • Privacy Policy
  • Submit A Story
  • Advertise with us
  • Support Us Today

Copyright © 2023 Inside Media

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
%d bloggers like this: