In it’s 2013 World Investment Report, the United Nations Conference on Trade and Development (UNCTAD) revealed that Nigeria has again emerged number one destination for Foreign Direct Investment (FDI) in Africa.

The report titled “Global Value Chains: Investment and Trade for Development,” noted that FDI inflows to Nigeria stood at $7.03billion. South Africa recorded $4.572 billion, Ghana ($3.295 billion), Egypt ($2.798 billion), and Angola (-6.898 billion), among others.

A breakdown of the Global FDI report, released yesterday, showed that Foreign Direct Investment flows to African countries increased by five per cent to $50billion in 2012, even as global FDI fell by 18 per cent.

According to the report, global FDI fell by 18 per cent to $1.35 trillion, while FDI is expected to increase to $1.45 trillion in 2013, $1.6 trillion in 2014 and $1.8 trillion in 2015.

UNCTAD said: “The road to FDI recovery is thus proving bumpy and may take longer than expected. UNCTAD forecasts FDI in 2013 to remain close to the 2012 level, with an upper range of $1.45 trillion – a level comparable to the pre-crisis average of 2005 to 2007.

- See more at: http://bizwatchnigeria.com/again-nigeria-emerges-no-1-destination-for-fdi-in-africa/#sthash.r5giowxw.dpuf
http://bizwatchnigeria.com/again-nigeria-emerges-no-1-destination-for-fdi-in-africa/

Developing countries take the lead in 2012 – for the first time ever – developing economies absorbed more FDI than developed countries, accounting for 52 per cent of global FDI flows. This is partly because the biggest fall in FDI inflows occurred in developed countries, which now account for only 42 per cent of global flows.”

In 2011, Nigeria was ranked Africa’s biggest destination FDI, with total FDI inflows of $8.92 billion. South Africa was ranked next with total FDI inflows of $5.81 billion, while other African countries such as Ghana received $3.22 billion; Congo, $2.93 billion; and Algeria, $2.57 billion worth of FDIs respectively.

Experts argued that the FDI trend had been encouraging, though Nigeria needed to continue to address its security and political challenges to improve on the trend.
Only last Tuesday, President Goodluck Jonathan inaugurated the General Electric’s $1billion service and manufacturing facility in Calabar.

The ground breaking ceremony followed the Memorandum of Understanding signed by the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga; and the Global Chairman/Chief Executive Officer of GE, Mr. Jeff Emmelt, in January.
Procter & Gamble has also commenced a $250million investment in Nigeria. The ground breaking for investment in Agbara Ogun state was held in July 2012.

Tags: Business, Nigeria, Featured, UNCTAD, Africa

http://www.thisdaylive.com/articles/unctad-nigeria-remains-number-one-investment-destination-in-africa/151664/

Attracted by this favourable investment climate and the high returns on investment that Nigeria offers, investors from Canada and the US were among those that visited the country this year to further explore investment opportunities that abound. The Canadian Minister of International Trade, Ed Fast, who led a trade delegation to Nigeria in January, stressed the need for the government to protect these growing investments in order to attract more FDI into the country. He gave this advice at a meeting with top Nigerian government officials headed by the Minister of Trade and Investment, Olusegun Aganga, under the auspices of the Nigeria-Canada Bi-National Commission
http://africanbusinessmagazine.com/special-reports/country-reports/spotlight-nigeria/nigeria-is-top-fdi-destination-in-africa

This is a welcomed development...

No thanks to core northerners who are religious fanatics aka terrorist (Bokoharamites).

Those guys have done us more harm and no single good. They had/have scared away lots of investors who would have contributed immensely to out economy.

emmysenior: This is a welcomed development...

No thanks to core northerners who are religious fanatics aka terrorist (Bokoharamites).

Those guys have done us more harm and no single good. They had/have scared away lots of investors who would have contributed immensely to out economy.

^^^Not trying to be funny, but if Orkas' coup had succeeded, no country in Africa would have seen our brake lights, talkless of catching up with us!

I stil wonder hw it has contributed to the well being of its citizens.

dplomaticVal: I stil wonder hw it has contributed to the well being of its citizens.

Give it time it will. the GE plant in calabar is under construction at the moment when complete you can imagine the impact.

The ordinary citizens are looking for jobs, FDI bring jobs.
The ordinary citizens are hungry, jobs brings income which buys food.
They are homeless income pays rent or helps build personal houses/qualify u for mortgage loans.
They are sycophants, solid income will rid our youths of this disease.
The ordinary has been dehumanized into 419,kidnapping,boko haram,etc etc just in a bid to survive,solid income through jobs generation will mitigate this crisis.


FDI builds local capacity to participate in that industry,creates competition and makes the market attractive for more investors. case in point MTN--------> Glo.

GEJ ni ba je oh!!

IGBO-SON:


^^^Not trying to be funny, but if Orkas' coup had succeeded, no country in Africa would have seen our brake lights, talkless of catching up with us!

you mean like all the other successful coup we've already had in nigeria? Coup is bad for our country nigeria and we have already learnt that bitter lesson. we don't need to go back there.

Orka coup would not have been different and neither will any coup.
Like it or not the worst democracy is better than the best military rule. In military regime the voice of the masses is stifled.

You should be grateful for democracy for the freedom it has granted you to be able to freely talk about/advocate coup in an open social media platform.

17 years ago Al mustafa and co would be knocking on you door at this moment to squirrel you to one of their underground jails for torture and summary execution with no recourse to the law.