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Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD - Politics - Nairaland

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Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by BrandSpurNG: 10:44am On Jun 24
Foreign Direct Investment (FDI) inflows to Sub-Saharan Africa decreased by 12 per cent to $30 billion, with investment growing in only a few countries. In West Africa, inflows to Nigeria increased slightly, from $2.3 billion in 2019 to $2.4 billion.
This is contained in the United Nations Conference on Trade and Development (UNCTAD) World investment report 2021, Brand Spur reports. According to the report, Nigeria emerged as the third-largest economy, alongside Ethiopia ($2.4 billion), which attracted FDI inflows in Africa last year. Ethiopia, despite registering a 6 per cent reduction in inflows to $2.4 billion, accounting for more than one-third of foreign investment to the subregion.

Although the Ethiopian economy suffered from the pandemic, especially in hospitality, aviation and other services, it still grew a substantial 6.1 per cent. The manufacturing, agriculture and hospitality industries drew the highest shares of investment in 2020. The Government initiated a programme to facilitate foreign investment in the manufacturing of personal protective equipment (PPE), and several Chinese firms have already started production.

Egypt was the largest recipient in Africa, however, with a significant reduction of 35 percent to $5.9 billion in 2020; followed by the Republic of the Congo ($4 billion), while South Africa was fourth with $3.1 billion (a decline of 39 percent).

The average price of crude oil dropped by 33 per cent in 2020, and lower demand along with supply-side constraints caused by the slowdown in site development restricted FDI to the country in the first half of 2020.

Despite the pandemic, the long-term policy of FDI diversification appears to have had some impact. One important greenfield investment ($66 million) in the non-oil economy was the construction of a manufacturing facility in the Lekki Free Trade Zone by Ariel Foods (Kenya).

There was also a significant M&A deal in the same region, with China Communications Construction Company providing the initial $221 million equity injection in Lekki Deep Sea Port, out of a planned total investment of $629 million.

Other transactions that contributed to FDI diversification, such as the investment by Multichoice Group (South Africa) in Betking, a provider of data hosting services, were relatively small.

Global foreign direct investment (FDI) flows are expected to bottom out in 2021 and recover some lost ground with an increase of 10% to 15%.

FDI flows plunged globally by 35% in 2020, to $1 trillion from $1.5 trillion the previous year, the report says. Lockdowns caused by the COVID-19 pandemic around the world slowed down existing investment projects, and the prospects of a recession led multinational enterprises (MNEs) to reassess new projects.

SOURCE:https://brandspurng.com/2021/06/24/nigerias-fdi-inflows-4-2-4bn-unctad/

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Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by BiafIntel: 10:49am On Jun 24
Nigeria emerged as the third-largest economy, alongside Ethiopia.

From first largest economy during GEJ administration to third now in Buhari's administration. Weight for a while, you all suffering and smiling fools will be relegated to 10th position.

1 Like

Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by sweetshisha: 10:58am On Jun 24
While we complain, Chinese, Indians and Lebanese are cashing out in Nigeria

3 Likes

Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by DrChukki: 12:10pm On Jun 24
H
Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by Chijeep(m): 12:11pm On Jun 24
for this Buhari regime...
A drug addict often lives more than a normal person.
An alcoholic have more peace of mind than a Normal person.
A gambler always make more profit than a hustler.
A kidnapper always succeeds than an entrepreneur
IN FACT, BUHARI HAS USED WORRIES TO STEAL A COMMON MAN'S PEACE IN THIS CORN-TREE
Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by Queenserah26(f): 12:11pm On Jun 24
No wahala, we move
Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by niyisky: 12:11pm On Jun 24
Kids, pessimist, haters and bigots have taking over nairaland. Despite the covid-19 drama last year, the country still witnessed such FDI.
Yet you are not happy...may happiness continue to elude you


BiafIntel:


From first largest economy during GEJ administration to third now in Buhari's administration. Weight for a while, you all suffering and smiling fools will be relegated to 10th position.

3 Likes

Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by GboyegaD(m): 12:12pm On Jun 24
Hmm...that is good but what policies are in place to guide against all the profits carted away?
Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by Leenkconcept: 12:12pm On Jun 24
grin
Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by powerbank343: 12:14pm On Jun 24
Gn c
Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by aspabay(m): 12:15pm On Jun 24
God bless Nigeria.

Nigeria will triumph
Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by Taye4j: 12:19pm On Jun 24
BiafIntel:


From first largest economy during GEJ administration to third now in Buhari's administration. Weight for a while, you all suffering and smiling fools will be relegated to 10th position.

I'm not sure you understood what the writer was communicating. Don't let your hatred for Buhari also cost you your thinking faculty.

Read again and this time slowly. If after reading and you still find the comprehension hard, kindly look for someone to read to you and interprete. Unfortunately, I won't do that for you.

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Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by Seniorwriter(m): 12:23pm On Jun 24
Deep Quote
Citizens suffer when there is a bad leadership in power/ position.


@Seniorwriter
Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by neyyoh: 12:34pm On Jun 24
While they moan, Chinese, Indians, smart Nigerian's and Lebanese are cashing out in Nigeria.

1 Like

Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by katlynf73: 12:50pm On Jun 24
cheesy
Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by NGArmyTerrorist: 1:24pm On Jun 24
Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by sulaak(m): 2:36pm On Jun 24
sweetshisha:
While we complain, Chinese, Indians and Lebanese are cashing out in Nigeria

You are not losing anything when Chinese, Indians and Lebanese leave Nigeria. These people are the reason why Nigeria is still a import-dependent country. The Indian bought out our Steel industry and instead of producing steel they use it as a front to import steel.
Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by Yeahmehn: 4:30pm On Jun 24
Who was doing this investment during covid? Is it the companies that were also shutdown?

Why is buhari's govt trying to boost investors' confidence by lying? The other day that's how World Bank or IMF debunked his claim about bringing 10M people out of poverty
Re: Nigeria’s FDI Inflows Increased 4% To $2.4bn In 2020 – UNCTAD by lordmans(m): 1:24pm On Jun 25
sweetshisha:
While we complain, Chinese, Indians and Lebanese are cashing out in Nigeria

Such is life, what you set your mind to see is what you get. Those foreigners see opportunities while our people see failure.

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