MTN, others plan $4.8bn investment in Nigeria

MTN

Ten companies are planning to invest the sum of $4.8bn in various sectors of the Nigerian economy, the Nigerian Investment Promotion Commission has said.

Highlights of the investment plans are contained in a report released by the NIPC.

The report stated that out of the $4.8bn, 328 Support Services plans to invest about $2bn in the transportation sector.

The investment, according to the NIPC, is expected to be made in Kaduna State.

The report also said that MTN South Africa planned to invest about $1.6bn in the information and communications sector.

It added that African Industries Group planned to commit about $600m investment in the mining and quarrying sector of the economy, while Savannah Petroleum had also unfolded planned to commit about $390m in the same sector of the economy.

Other companies are More Chemical Industries with about $110m in the agricultural sector, while Agro Tech Nigeria and Villam Agric Ltd have also planned to invest $60m and $10m in the same sector respectively.

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