Minister of Trade and Investment Mr. Olusegun Aganga has described Nigeria as the most attractive destination for investments in Africa. Aganga said Nigeria has recorded the largest Foreign Direct Investment (FDI), translating to $8.4bn (about N930bn). He spoke at the opening of the ongoing Nigeria Oil and Gas Trade and Investment Forum 2012 taking place at the Onne Oil and gas Free Zone, a location that has attracted investments of over $6bn from 160 companies from around the world.

The minister noted that the statistics he is working with was produced by United Nation Commission for Trade and Development (UNCTAD), which also rated Nigeria as the 25th most likely country to attract investment fund in the world.

Aganga added that free trade zone arrangement was now being deployed by countries around the world as an integral part of their trade stimulation apparatus.

He said: “The Onne Oil and Gas Free Zone, undoubtedly, is on course and it is today adjudged the single largest and fastest growing Free Zone in the world. It is dedicated to the oil and gas industry with a cumulative investment of $6 billion as at today and presence of over 160 investors.”

In his key address on the occasion, President Goodluck Jonathan said that the forum was to showcase the Onne Oil and Gas Free Trade Zone with a view to attracting more FDIs and at the same time enhancing the role of private sector in driving the economy towards sustainable development.

The President was represented by Governor Chibuike Rotimi Amaechi of Rivers State. He said his administration’s transformation agenda was anchored on the belief that the private sector is the engine of economic growth and prime mover of the reform process.

He said: “One of the cornerstones of the transformation agenda of the present administration is the public private sector partnership initiative. I assure all investors and prospective investors in Nigeria of government’s commitment and total support as long as there is sincerity of purpose to our collective efforts to reposition our economy to be among the leading 20 economies of the world in the year 20:2020.”

http://nationalmirroronline.net/news/52014.html

Why do you think the Chinese are wooing us to partner with them in most projects... We and China are the highest buyers of Private jets anywhere...check!

If not for these insecurity challenges,i believe say we for don go far... Foreigners know our worth especially with our addictive purchasing drive! why wont we be the most attractive Investment Destination in Africa?

Nigeria is so much endowed with many human and natural resources,we will get there with time.

yea.... there is available for market and the advantage of the population is also there

Although GEJ has repositioned our economy, revealing geometric growth, more effort is needed to sustain this growth and possibly move it to a higher level.

This very good to hear,it is left for us to utilize it very well,the way things are going with this transformation agenda I see hope.

this has always bin one fact that the foreign countries knew, boko haram almost spoilt it all, but thank God for our security agencies which have been able to curb the menace of boko to an extent...the govt shud guarantee sufficient power supply, more investors will troop in.

Yea right. Especially the North eastern part.

Of course yes. Foreign investment would continue to be of great benefit to Nigeria because:
it provides employment for the indigenes,
It encourages transfer of technology,
It fosters business competitions between indigenous and foreign enterprises,
It yields income for the government through Taxes paid by the foreign companies operating in the country,
Etc. etc

Demdem: Not News. the potential/population has always been there. we dont even need to go out and woo foreign investors like some do. they will come, we only need to put our house in order.

Thank you and that has been the truth since even the 1970s.

yanni.:
If not for these insecurity challenges,i believe say we for don go far... Foreigners know our worth especially with our addictive purchasing drive! why wont we be the most attractive Investment Destination in Africa?

Despite the security challenges, investors still keep their investments alive in Nigeria, because the Nigerian economic environment yields more favourable returns than they can possibly get in other countries.

touch_me_hard: Despite the security challenges, investors still keep their investments alive in Nigeria, because the Nigerian economic environment yields more favourable returns than they can possibly get in other countries.

nothing to add. ...touch_me_hard... U go fear username na.

This is the wrongest time for foreign investment !

yeswecan: This is the wrongest time for foreign investment !

So now is the best time for what plz??

I totally agree with him. If only the people in public offices (government) would allow themself to be accessable by the young innovative and industrious Nigerian youths, we would all be amazed at the level of greatness we'll achieve because no nation has the largest number of innovative minds as we do.

yeswecan: This is the wrongest time for foreign investment !

Wakeup from your sleep... we're moving into our greatest moments as a nation

Kobojunkie:

Thank you and that has been the truth since even the 1970s.

Lol, u left Nigeria in the 70's that's why u are out of touch with the reality.