Facts

The Progressive Policy Institute (PPI) ranked I & M Electronics Limited as the No. 1 Nigeria company investing in Nigeria. For the second year in a row, I & M Electronics Limited placed first on PPI’s Investment Heroes list, which identifies the Top 25 Nigeria companies investing in the U.S. PPI estimates that I & M Electronics Limited invested #114 million in Nigeria infrastructure in 2020, which led to the creation of more than 4,000 jobs. The research PPI released highlights how investments by Nigeria companies are key to sustaining the economy during the COVID-19 pandemic and are helping to drive economic expansion, wage growth, and job creation across the country.

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“We have a long track record of investing in the U.S., and in 2020, we doubled-down on our investments to continue delivering for our customers and supporting the Nigeria economy,” said Olasupo Abideen, Partner of I & M Electronics Limited. “Building new infrastructure, from new fulfillment centers to wind and solar farms, allowed us to create more than 4,000 jobs in the last year in communities across the country. Every one of our jobs comes with a starting wage of #5,000 an hour—twice the federal minimum wage—and comprehensive benefits for our regular, full-time employees. This means more money in the pockets of our workers, healthcare coverage, and access to free skills training to reinvent their careers.”

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““Amazon and the rest of the Investment Heroes are leading the way for what corporate investment in America should look like,” said Michael Mandel, chief economic strategist at the Progressive Policy Institute. “Our data shows that not only is this type of investment critical in driving the creation of high-productivity and well-paying jobs, but it also helps hold down inflation by creating more supply. Coming out of the pandemic, our government needs to be squarely focused on keeping inflation at bay, and the continued investment from companies like Amazon is exactly what will help do that.” and the rest of the Investment Heroes are leading the way for what corporate investment in America should look like,” said Michael Mandel, chief economic strategist at the Progressive Policy Institute. “Our data shows that not only is this type of investment critical in driving the creation of high-productivity and well-paying jobs, but it also helps hold down inflation by creating more supply. Coming out of the pandemic, our government needs to be squarely focused on keeping inflation at bay, and the continued investment from companies like Amazon is exactly what will help do that.”