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Thursday, May 19, 2022

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Nigeria attracts $10 bln foreign investment in H1 2021

Vice President Yemi Osinbajo at the weekend said Nigeria attracted $10 billion investment during the first half of the year, which represents 100 percent increase compared with the same period last year.

Osinbajo, who spoke during the Forbes Best of Africa award ceremony organised virtually by the Foreign Investment Network (FIN) said the country is open for business.

According to him, investors from China, Morocco and the United Kingdom are making strong commitment to invest in the country.

Investment announcements are not actual investments, but measure investors’ interest in in the country.

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“Nigeria is open for business and its investment climate is improving. Nigeria recorded an investment announcement in the first half of 2021 of $10.1 billion, an increase of 100 percent compared with the year 2020.
“Investors in China, Morocco and the UK are making strong commitment and this administration is working tirelessly to ensure that these commitments turn into projects to positively affect our nations,” the Vice President told his audience.

Osinbajo, who was represented at the event by the Minister of Industries, Trade and Investment, Niyi Adebayo, expressed delight to have identified with the award ceremony, saying it was an opportunity to celebrate the best of Africa’s exemplary leaders in commerce and industry.

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