IbeOkehie:
From what I read in business papers, the most popular foreign investments into Nigeria since 1999 have been BEER BANKS CEMENT.

The government just took a big hammer to banking investment with their recently enacted retroactive tax on forex profits earned by banks.

Socialism is bad. Nothing good comes of it.

Good Luck to Nigeria.

Kukutenla:

But it seems the banks have no problem with it
Besides, how's that socialism. The profits were not as a result of any banking enterprise other than warehousing forex deviations

slivertongue:
Buhari and tinubu are two sides of a coin. Bunch of economic illiterates. Borrow and waste palliatives administration.

citizenisb:
Former President Olusegun Obasanjo says President Muhammadu Buhari may not do well in economy and foreign affairs, except in military matters.

“Buhari is not a very hot person on the economy and foreign affairs,” Obasanjo said.

The former President stated this on Monday at the third International Conference on African Development Issues — themed, “Driving inclusive and sustainable development in Africa: Models, methods and policies” — organised by Covenant University, Ota, Ogun State.

While reacting to a question posed to him by a member of the audience: “Is there any hope for Nigeria under the administration of President Muhammadu Buhari?”, Obasanjo replied, “Is there any hope for Nigeria under this administration? I came back from Geneva, Switzerland a few days ago to attend a conference titled, ‘Are elections giving democracy a bad name?’ We had an election, we elected a leader and the good thing about democracy is that the power you have to elect a leader is also the power you have to remove him. I am saying this because I said earlier that if you don’t see any leader that has done well in the 56 years of Nigeria’s independence, then let us forget about Nigeria.

“I will tell you what I know and I will tell you what I don’t know. I know Gen. Muhammadu Buhari. He served under me in the military. His characteristics that I know, his behaviour that I know, he has not deviated from them. He was never a perfect man, he is not a perfect man and no leader can ever be a perfect man because they are human beings. But if you read my book, what I said about him is correct. He is not a hot person when it comes to economy. He is not a very hot person when it comes to foreign affairs. But he will do well in matters of military and he will do well in fighting Boko Haram.”

http://www.punchng.com/buhari-not-sound-economy-foreign-affairs-obasanjo/

CSTRR:

The Russia-ukraine war started under buhari, pushing oil prices to record levels.

How did that reflected in the standard of living of Nigerians?

President Obasanjo faced one of the lowest oil prices in history. Oil prices Lower than that of buhari and even tinubu.
Look at his economic performances and the savings he did.

If you don't have it, you don't have it.

NeckingNgulping:


It's apparent that, by the way things are going, FDI will further go down by the end of the year.

Can't you see how it's been going down the drain since 2015 when Tinubu's backed up federal government led by Buhari took over?

Don't forget he said "he will continue from where Buhari stopped."

Under your lord and saviour Tinubu, companies are folding, foreign investment is declining. Infact, every industry is in sorry state.

Are you not reading the news? Or you allow the 30k stipend to take away your common sense.

Why did total energy choose to invest 6b dollar in Angola over Nigeria?

You need to wake up and get your brain checked.

Ikumapkayi:
You are a paid agent! You presented statistics without providing the context. The gullible were also commenting, castigating the APC, forgetting that FDI inflow was high then because oil sold for over $100 per barrel, making Nigeria a prime spot for FDI. Additionally, it was the early years of the GSM and internet revolution. Keep spewing old trash to appease your paymaster

Dalohad:
Immediately after GEJ was pushed out in 2015, investors started taking their money. They knew Buhari was a power-hungry empty skull who had nothing to offer and Tulumbu is following suit.

The best presidents Nigeria has ever had never bullied their way to power, they were actually called to come lead. OBJ was called from prison, and Umaru Musa Ya'adua was begged by OBJ to take the mantle. GEJ was convinced to lead after UMY's death. They never swore to bring down heaven like bloodthirsty Buhari, they never bullied their way to power with money bribing every living and non-living thing from Judges to INEC officers, like Tulumbu did.

The answers is simple, if a man bullies his way to power, he really has nothing to offer. He just wants to fulfill his sickening ambition to rule over everyone at your expense. Nothing more.

History will still repeat itself because Nigeria is lost cause, they never learn. I assure you.

Kukutenla:

You claim to be educated yet you're taking just one year out of the 9 years of APC which is even inconclusive. Did you do statistics in school at all? Do you know what's called trend analysis?
Oh lemme guess. The Buhari years are no longer part of APC. They are now PDP.
Education indeed

Tjra:

Trend analysis comes in when you are looking at a number of years.

Besides the commenter was not comparing APC versus PDP. He specifically mentioned current administration.

So, when analyzing, you restrict your comparison to that of the specific government being mentioned.

trium:


Title of topic: New Post (A Troubling Trend: Nigeria's FDI Inflow Decline Since 2015)

NeckingNgulping:
The people who are defending this disastrous government need to have their brains checked.

Ikumapkayi:


Criticizing Buhari's administrations and that of Tinubu without acknowledging the unique challenges they faced, such as fluctuating global oil prices, insurgencies, or global economic downturns, misses the broader picture. Each administration has had to navigate its own set of difficulties, and while comparisons can be made, they should be rooted in an understanding of the different circumstances each leader faced.

Saying "if you don't have it, you don't have it" oversimplifies the complexities of governance and economic management. It’s not just about having resources; it’s about how those resources are managed, distributed, and invested in the future of the nation. Every leader’s tenure needs to be evaluated based on a wide range of economic indicators and the broader impact on the populace.

Max24:
The OP is a political jobber. They are working to package Atiku again for 2027. No matter what happens South's 8 years must be sacrosanct !

Ikumapkayi:
You are a paid agent! You presented statistics without providing the context. The gullible were also commenting, castigating the APC, forgetting that FDI inflow was high then because oil sold for over $100 per barrel, making Nigeria a prime spot for FDI. Additionally, it was the early years of the GSM and internet revolution. Keep spewing old trash to appease your paymaster

Tjra:

Trend analysis comes in when you are looking at a number of years.

Besides the commenter was not comparing APC versus PDP. He specifically mentioned current administration.

So, when analyzing, you restrict your comparison to that of the specific government being mentioned.

Ikumapkayi:
You are a paid agent! You presented statistics without providing the context. The gullible were also commenting, castigating the APC, forgetting that FDI inflow was high then because oil sold for over $100 per barrel, making Nigeria a prime spot for FDI. Additionally, it was the early years of the GSM and internet revolution. Keep spewing old trash to appease your paymaster

TonyeBarcanista:
According to United Nations Trade and Development (UNCTAD) report Nigeria's foreign direct investment (FDI) inflow for year 2023 was US$1.873 billion, Nigeria was ranked number 8 in FDI. The top 10 are:

1. Egypt: US$9.841 billion
2. South Africa: US$5.2 billion
3. Ethiopia: US$3.263 billion
4. Uganda: US$2.886 billion
5. Senegal: US$2.641 billion
6. Mozambique: US$2.509 billion
7. Namibia: US$2.345 billion
8. Nigeria: US$1.873 billion
9. Cote d'Ivoire: US$1.753 billion
10. DR Congo: US$1.635 billion.

The situation is even more troubling when you consider that Nigeria had consistently attracted FDI inflows of over US$4 billion annually since 2005 during the Obasanjo, Yar'adua and Jonathan administrations. However, since the APC took over in 2015, the country's FDI inflow has failed to reach even US$4 billion.

Olusegun Obasanjo
1999: US$1.18 billion
(Obasanjo assumed office in May 1999)
2000: US$1.31 billion
2001: US$1.277 billion
2002: US$2.04 billion
2003: US$2.171 billion
2004: US$2.127 billion
2005: US$4.978 billion
2006: US$4.9 billion

Obasanjo/Yar'adua
2007: US$6.087 billion

Umaru Yar'adua
2008: US$8.25 billion
2009: US$8.65 billion
(top 3 in Africa in both years)

Goodluck Jonathan
2010: US$6.099 billion
2011: US$8.92 billion
(ranked number 1 in Africa)
2012: US$7.127 billion
2013: US$5.61 billion
2014: US$5 billion

Jonathan/Buhari
2015: US$3.064 billion

Muhammadu Buhari
2016: US$3.45 billion
2017: US$2.413 billion
2018: US$775 million
2019: US$2.305 billion
2020: US$2.4 billion
2021: US$3.313 billion
2022: US$895 million

Buhari/Tinubu
2023: US$1.87 billion

Bola Tinubu
2024:

- Tonye Barcanista

Link to UNCTAD FDI Reports for Nigeria in the last 30 years: https://unctad.org/data-visualization/global-foreign-direct-investment-flows-over-last-30-years

IbeOkehie:


Socialism means government owns everything including your profits from business. That's why socialist governments have high taxes.

RETROACTIVE laws are bad for business. Also immoral, it's the highest form of government abuse. I'm not at all surprised Nigerians think it's OK, but then shithole country is produced by shitheads 🤷

Let's see how much foreign or domestic investment pours into Nigerian banks from here on. I know one person that is not likely to put money there.

Good Luck to Nigeria

Kukutenla:

Is taxation a form of socialism? I thought it's a capitalist idea. Govt taxing business is the bedrock of most capitalist societies.
I agree about the aspect of retroactive laws though. But we also have to acknowledge that the money was not earned by the banks. Such things is the reason why banks in Nigeria have abandoned their primary role. I don't see anything wrong in govt nudging them back towards the right direction.

Omooba77:



It is so funny, people still hate PDP......