Within the last three years, over $20bn (N3.2tn) Foreign Direct Investment has been attracted into the Nigerian economy, the Federal Government has said.
The figure was revealed on Monday in Abuja during a world press conference on the 24th World Economic Forum on Africa which Nigeria will host next year in Nigeria.
The summit, scheduled for Abuja, will be the first time the WEF will be held in West Africa
The N3.2tn invested in the Nigerian economy within the last three years represents 10 per cent of the entire African continent FDI.
The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, while addressing journalists, said the forum with the theme ‘Forging inclusive growth, creating jobs’, would further help to attract more investments into the economy.
She said the forum offered an unprecedented opportunity for Nigeria to showcase its vast economic opportunities to the world and deepen dialogue on economic reforms between the international and Nigerian private sector.
The theme, according to her, was chosen because it aligns perfectly with the medium and long-term aspirations and commitment of the Federal Government.
She said hosting the economic conference next year would not only ensure that Nigeria remains the largest recipient of FDI in Africa, but ensuring that the investments it attracts are broad based.
This, she added, would help generate millions of jobs for the youthful population.
The minister said, “The WEF is an organisation that has been in existence for more than 25 years. The reason and objectives is to bring together top-class Chief Executive Officers of big organisation in the world together with government in order to forge partnership that can lead to investments to the improvement of the private sector in given countries so that you can have improved job creation and improvement of standards of living.
“We are very honoured and it’s very clear the reason why Nigeria made the list of this conference and the reason is that they find it very fascinating the developments that are happening in the Nigerian economy.”


punchng.com

W.T.F......Did nigeria attract that with terrorism,kidnapping,arm robbery,scamming....Etc am just curiouz to knw?

And not forgetting the about $60 billion (over the last 3 years as well) that loved ones sent from abroad by way of money transfers! This is what really sustains many families if we're to be honest!

IGBO-SON:
And not forgetting the about $60 billion (over the last 3 years as well) that loved ones sent from abroad by way of money transfers! This is what really sustains many families if we're to be honest!

is that investment?

king of pool: W.T.F......Did nigeria attract that with terrorism,kidnapping,arm robbery,scamming....Etc am just curiouz to knw?

those thingz are over rated

king of pool: W.T.F......Did nigeria attract that with terrorism,kidnapping,arm robbery,scamming....Etc am just curiouz to knw?

In spite of those ills, investors are still heading here. Just imagine, what it would be without terrorism,kidnapping,arm robbery,scamming....Etc

3,2 trillion. Sorry but that's roughly $20billion dollars na. Where did it all go to? Where are the jobs it created and what companies were set up?

Either this report is not comprehensive enough or there is something else to this

Mynd_44: 3,2 trillion. Sorry but that's roughly $20billion dollars na. Where did it all go to? Where are the jobs it created and what companies were set up?

Either this report is not comprehensive enough or there is something else to this

Why not just conclude its a lie as usual?

Mynd_44: 3,2 trillion. Sorry but that's roughly $20billion dollars na. Where did it all go to? Where are the jobs it created and what companies were set up?

Either this report is not comprehensive enough or there is something else to this

^^^Some kinda breakdown of the amount would have helped convince better! I'm sure they should have some data on where the investments went........and this is where journalists should have played their part by asking the right questions at the press conference!

Mynd_44: 3,2 trillion. Sorry but that's roughly $20billion dollars na. Where did it all go to? Where are the jobs it created and what companies were set up?

Either this fresh air no reach my family or my village people get hand for this

fixed

AjaraEwuro:

Why not just conclude its a lie as usual?

You seem to be missing my point here

IGBO-SON:


^^^Some kinda breakdown of the amount would have helped convince better! I'm sure they should have some data on where the investments went........and this is where journalists should have played their part by asking the right questions at the press conference!

Exactly my point. I wanna know if the money was given as loan to existing companies to expand or to governments for capital projects (Lagos has taken some loans and some states did too) perhaps new corporations etc.

Poor reporting I must say

iterator25: fixed

Your point being?

AjaraEwuro:

is that investment?

^^^I was thinking more in terms of the overall non-gov't funds that came into the country in the given period; though i'm sure a sizeable portion of said amount ($60 billion) would have gone into investments and not all spent on food bills and clothes!

.

AjaraEwuro:

is that investment?

Building a house in investment? Paying for education is not investment? Starting a business is not investment?