FDIs

Nigeria has attracted a total of 24.1 billion U.S dollars foreign investment in the past two years, according to the Nigerian Investment Promotion Commission (NIPC).

Executive Secretary of the NIPC Yewande Sadiku on Thursday told the official News Agency of Nigeria that the foreign capital inflow that came into the country in 2016 was 5.4 billion dollars, and the bulk of it is portfolio investment, while in 2017, it was 12.5 billion dollars.

“In the first quarter of 2018, the inflow was 6.3 billion dollars and this is more than all inflows that came in 2016 and in the third quarter in 2017,” Sadiku said.

The NIPC’s main objective is to promote and position the country to attract foreign investments.

Sadiku said the commission has a One-Stop Investment Center as a strategy to streamline investment procedures, provide prompt, efficient and transparent services and coordinate investment-facilitating agencies.

The center, according to her, provides statistical data and information on the Nigerian economy, investment climate, legal and regulatory framework, as well as sector and industry-specific information.
“All these are to aid existing and prospective investors in making informed business decisions,” she said.

The official said Nigeria has abundant opportunities for investment in priority sectors of agriculture, power, manufacturing, solid minerals, critical infrastructure, and waste management. Enditem

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