A review of Nigerian Investment Promotion Commission’s (NIPC) Report, August 2020
An Overview of South Western States – Implication for Economic and Investment Opportunities
This report is a summary of relevant data pertinent to the South West States of Nigeria obtained from the book of States a report published by the Nigerian Investment Promotion Commission in 2020. The aim of this summary report is to harvest in a more concise form pertinent data on South West States of Nigeria.
The Nigerian Investment Promotion Commission (NIPC) report is about the entire nation but for the purpose of this summary report, South Western States of Nigeria were targeted. This report gives an overview of relevant information about the region.
The data obtained from the NIPC document spoke to the economy, demography, topography, social-economic characteristics, investment opportunities, rank of doing business (2018), competitive advantages, Internally Generated Revenue (IGR), Budgets, Household consumption, labour force, climate, population and land area (see Tables 1-4).
An understanding of the data obtained from the NIPC report by South West States can help them design appropriate revenue generation techniques based on areas where there are comparative advantages. The report if well understood, will also serve as an avenue for improved collaborations among South West States. It is believed that there is still room for economic linkages and regional integration which should be strengthened among these States. Furthermore, better collaboration can be fostered among these states if and when they fully understand the importance of their collaborative efforts to engender developments.
Economic development is the creation of wealth from which community’s benefits are realized. This is a deliberate attempt at investing in growing the economy and enhancing the prosperity and quality of lives of all residents. Public sector economic and social development gives credence to the importance of improving the economic well-being and quality of life of a nation, region, local community or an individual based on targeted goals and objectives, hence a justifiable reason for this report summarising the core comparative advantages of the South Western States of Nigeria.