Foreign direct investment (FDI) flows to Nigeria more than doubled in 2023, reversing a sharp decline from the previous year and defying both global and African trends, according to a new report by the UN Conference on Trade and Development (UNCTAD).

FDI into Nigeria reached $1.9 billion last year, up from $895 million in 2022, but still below the $3.3 billion recorded in 2021. Since 1990, Nigeria recorded its highest FDI levels in 2009 and 2011, with investments reaching $8.7 billion and $8.9 billion, respectively.

FDI refers to investments made by a foreign entity in the business interests of another country, such as https://pluboard.com/2024/06/21/economy/nigerias-fdi-doubles-in-2023-a-rare-positive-for-tinubu-government/