Bank credit/deposit in each state may be used as an indicator of the level of activity and well being of operators (households and businesses) in a particular state as it shows what residents are borrowing and the amount deposit in banks Ibadan is biggest slum
from NBS report on bank deposit/credit from 2010-2015
Bank deposit in Anambra state #1'844'434.75 Bank Credit # 258'716.37 Balance #1'585'718.38
Bank deposit in Oyo #1'617'678.48 bank credit #598'298.6 balance #1'019'379.88
Bank credit/deposit in each state may be used as an indicator of the level of activity and well being of operators (households and businesses) in a particular state as it shows what residents are borrowing and the amount deposit in banks Ibadan is biggest slum
from NBS report on bank deposit/credit from 2010-2015
Bank deposit in Anambra state #1'844'434.75 Bank Credit # 258'716.37 Balance #1'585'718.38
Bank deposit in Oyo #1'617'678.48 bank credit #598'298.6 balance #1'019'379.88
USA has slums but it is more developed than Britain. Stop using slum that you have in Igboland to cover your undevelopment. Igboland has slums,undeveloped,tiny and it is becoming a desert according to your Ibo brothers. old houses which roofs have gotten brown which were built when Igbos were walking unclad and living in huts show that Yorubaland had been developed far,far before you become civilised. Even with the old part,ibadan is still more developed than the entire Igboland. USA has slums but it is a developed nation because they have lots and lots of infrastructures and high GDP.
Lagos has the highest slums in Nigeria but it is more developed than all the states of Nigeria because they have lots of infrastructures and high GDP.
Ibadan city only is more developed than Igboland because it has lots of infrastructures and high GDP IGBOLAND:
Obi1kenobi: Who the hell is CGIDD? Again, those stats aren't credible. I'm not here to argue about who has the biggest GDP or not, but your source is not a credible one. IGR is not necessarily a measure of economic activity either, but can simply be a measure of government efficiency in tax collection. Ogun has over 3 times the IGR of Oyo (which isn't that impressive either), yet Oyo is more populated than Ogun. I'd say this is because Ogun has a greater base of industries in the organized private sector, many of whom have corporate headquarters in Lagos and factories in Ogun, which are a more reliable tax base than traders in the informal economy. Or abi you think it is because Ogun's economy is 3 times greater than Oyo?
lol
Anything that does not eulogize you IGBOS is not reliable.CANBACK is globally recognized and accepted and they do not know Oyo from Anambra but just doing their work.
I am sorry but get to know what GDP and economy stand for before we can have a robust chat.
Ogun state economy is like that beçause they are the most industrialised (with real industries employing thousands or hundreds)state in Nigeria even more than Lagos.
Deadlytruth: Now that you have kept on dubiously claiming that Ironsi didn't dismantle the independence constitution, didn't abolish the regions, didn't create provinces and didn't strip the federating units of autonomy; could you kindly tell us what exactly Ironsi meant with the following bolded lines in his May 24 1966 national broadcast as presented below:
Fellow Nigerians: During the past two weeks I presided over meetings of the Supreme Military council and the Central Executive Council at which many important state matters were considered. . . It is now three months since the Government of the Federal Republic of Nigeria was handed over to the Armed Forces. Now that peace has been restored in the troubled areas it is time that the Military Government indicates clearly what it proposes to accomplish before relinquishing power. The removal of one of the obstacles on the way is provided for in the Constitution (Suspension and Modification) Decree (No. 5) 1966 which was promulgated by me today and comes into effect at once. The provisions of the Decree are intended to remove the last vestiges of the intense regionalism of the recent past, and to produce that cohesion in the governmental structure which is so necessary in achieving, and maintaining the paramount objective of the National Military government, and indeed of every true Nigerian, namely, national unity. The highlights of this Decree are as follows: The former regions are abolished, and Nigeria grouped into a number of territorial areas called provinces. . . . Nigeria ceases to be what has been described as a federation. It now becomes simply the Republic of Nigeria.......... The former Federal Military government and the Central Executive Council become respectively the National Military Government and the executive Council. All the Military Governors are members of the Executive Council. A Military Governor is assigned to a group of provinces over which and subject to the direction and control of the Head of the National Military Government, he shall exercise executive power. In order to avoid any major dislocation of the present administrative machinery, the grouping of the provinces has been made to coincide with the former regional boundaries. This is entirely a transitional measure and must be understood as such. The present grouping of the provinces is without prejudice to the Constitutional and Administrative arrangements to be embodied in the New Constitution in accordance with the wishes of the people of Nigeria. The National Military Government assumes the exercise of all legislative powers throughout the Republic subject to such delegations to Military Governors as are considered necessary for purposes of efficient administration. The public services of the former federation and regions become unified into one national public service under a National Public Service Commission. There is a provincial Service Commission for each group of provinces to which is delegated functions in respect of public officers below a given rank. This rather drastic change will probably involve a reconstitution of the existing commissions, and the National Military Government reserves the right to do so in the manner stipulated in the Decree. Until this is done, the present Commissioners continue to act in their posts. Every civil servant is now called upon to see his function in any part of Nigeria in which he is serving in the context of the whole country. The orientation should now be towards national unity and progress. I expect all civil servants to co-operate and to consult at all levels, vertically and horizontally, between groups of Provinces and between Provinces and the Centre. People are aware that Study Groups.......
DawatNama: If Anambra cities were built horizontally like Yoruba mud hamlets of Ibadan and Abeokuta by now we will be living in Kogi and Imo State but have our businesses in Onitsha and Nnewi.
Imagine all the poor Yoruba face-me-i-face-you mud hamlets were to built Vertically it will take you just one hour by foot to cover the entire Ibadan and other sourrounding villages they tag city
New York, Hong Kong, Singapore, Dubai, most Chinese Cities were vertically built like Onitsha, Aba and Nnewi but Ibadan and her ghetto sister Abeokuta were horizontally built that depicts poverty and wastage
Those places you are showing are places that were built when you Igbos were practically walking naked and living in huts and they are just a minute percentage of Yorubaland very minute.Those houses were built like that in the olden days when SW was the most developed, reason they have brown roofs and because Yorubaland is vast per landmass in the south,a few of them are left and other new sites which are double or even triple anything in the SE are built unto. Igboland people that were living in huts then even have substantial but not as many as the SW because they do not have much space and also have scanty houses compared to the SW.I will post Igboland later. In all even with the old Ibadan which is not more than Onitsha,Ibadan is still more developed than the entire Igboland.This is a fact.
Obi1kenobi: Much as the guy you are addressing is a chestbeating clown, those GDP stats have no credibility. It has been circulated for donkey years (unchanging) and linked through Wikipedia. GDP is not an economic measure based on hard aggregated data and is the easiest economic metric to fake due to the fluid methodology involved, made more difficult by the large contributions of the informal sector to Nigeria's economy in relation to the organized private sector. It asserts for example that states like Imo have almost double the GDP of Anambra which is utter rubbish that even an Imo indigene would laugh at.
There is no credible state-by-state GDP data in Nigeria. Even NBS does not bother with it.
I had wanted to argue with you but I'd rather let you argue with this expert in what they know how to do well,globally. Oyo state GDP in 2007 was around 29 billion while in 2010 it came down to 16 billion.Your assertion that the GDP is state is false. Oyo state is economically viable than Anambra.Mostvof the businesses in Anambra are small enterprises or cottage industries.Have you seen the IGR of Anambra state?
Anambralstson: Anambra can't be compare Oyo except, you haven't been to the state, I know Ibadan very well, the state is very backward, dirty, have the highest numbers of begger, forget E-mumu here Yorubas knows how to manipulate the media through paper work, to look good, if you can remember then how they showed us figures, making silly noise that Osun IGR is larger than all southeastern states put together they abounded the propaganda when state couldn't pay salaries same thing they did with Ogun even Oyo these are states that was bankrupts when oil was low all the states in west couldn't pay workers salaries except Lagos, they all asked for FG bailout twice, Anambra they are challenging didn't, they are most indebted region in Nigeria, same Anambra the trying so hard to rub shoulder with is the least indebted state in Nigeria, that's why they are called oluwale, they good with fake Imagine the fake GDP the e-goat posted Oyo, Osun has more GDP than Anambra Only Nnewi alone will delete Osun economically and commercially same with Oyo Onitsha alone will delete Oyo economically and commercially
Ode olodo
USA is the most indebted country in the world but it is the most developed and most progressive. Lagos,a Yoruba state us the most indebted state in Nigeria but it is the most developed and progressive. SW is the most indebted a la Lagos but the most developed and the most progressive. SE is not even the least indebted but it is the least developed and least progressive and has the highest poverty rate. When Onitsha Mall was finally opened in Anambra,all of you were very happy that you finally have a mall.
That mall that you have never seen before,Ibadan that is more developed than all your 5 south eastern states has 5 mega ones with a lot still littered all over Ibadan.
lol I don't know how all the mediocre cottage industries that you have been showcasing can grow the GDP of Anambra. Oyo state GDP is twice more bigger than your poor Anambra. You better face how Igboland will come out of poverty and stop running your pungent dirty mouth.
Go and check how OYO state pooped on Anambra's head. Your dead Anambra is the 16th economy in Nigeria. Pix 2. That is Polo park,the biggest in the East that a Yoruba man built for you.
Unbiased1: I think I'm done quoting an illiterate who thinks that landmass equals development level.
I don't know that I have been chatting with empty heads...oh my gosh. Malls and landmass are all you could point to out of all facts given to you that all your 5 south eastern states joined together are not as developed as the city of Ibadan only.
Let us see whether you are intelligent and man enough to respond to why Ibadan is more developed than all Igboland by: 1.Being the fourth economy in Nigeria and none of your backward state is even the tenth economy.
2.The GDP of Ibadan is higher and even doubled that of Anambra,your alleged richest state in the East.
3.The per capita of the Yorubas in Ibadan is double that of the Igbos in Anambra,your alleged richest state.
4.Ibadan only has more than 10 GRAs while all Igboland cannot boast of even 6.
5.Ibadan only has 5 mega malls while all Igboland has 4 malls which are not so productive.
6.Why Ibadan has CBD with skyscrapers and Igboland has none.
7.Why Ibadan only has infrastructures like radio stations,television stations,newspaper houses,international research centres,schools,universities etc more than all Igboland.
8.etc etc etc
9.And finally why you think any of your states is as or even more developed than Ibadan.
Only if you or anyone of you is a coward will he pick only one out of these. Respond to all so that your Igbo brethren will truly know that Igboland can stand shoulder high with Ibadan.
My best bet is that you will all run away and do as if you didn't see this post because... YOU CANNOT GIVE WHAT YOU DON'T HAVE.
Anambralstson: The guy is dumb, here is satellite measurement of his backward city
lol Olodo,why don't you start a search engine company and begin to measure all the cities of the world to prove that Google is wrong. Even if they are wrong,the same way they measured your backward,undeveloped cities is the way they did Ibadan too.
Google does not know you or all your backward,tiny,undeveloped enclaves before doing a great job in giving good and accurate measurements to them and Ibadan and all other cities of the world. Maybe you can sue them for showing accurately that you are backward,undeveloped and very tiny. I don't know how dumb dundees like you got access to the Internet.
Unbiased1: lol. Mega mall? Then the one in Enugu is a super mega mall, and the one in Accra Ghana is a multi-mega mall then only God knows what we will call the one in Dubai. Almost all the states in Nigeria have Golf courses, some even have 2.
Meanwhile,Igboland is too small,tiny and undeveloped to be compared to Ibadan talkless of Yorubaland.
Unbiased1: lol. Mega mall? Then the one in Enugu is a super mega mall, and the one in Accra Ghana is a multi-mega mall then only God knows what we will call the one in Dubai. Almost all the states in Nigeria have Golf courses, some even have 2.
People can see that you are a joker now.Out of all the important facts in my submission,the only thing you saw there...is mall?
Malls are littered all over Ibadan but these 5 are mega and the polo park you are talking about was built for you by a Yoruba man,Tayo Amusan. USA has slums but still more developed than Britain. Lagos has slums but more developed than all the states in Nigeria including Abuja. Igboland has slums but still less developed than Ibadan.I bet you will commit suicide if the pix of some of the GRAs are posted. Have you seen that Ibadan is more developed than the entire Igboland now? Facts are bitter. at times. Aren't they?
Unbiased1: Why don't you be truthful to yourself at least for once? Who are you trying to deceive here? I watched the political campaigns of some the political parties in Ibadan live on NTA with some highlights on Channels and TVC and from those videos, Ibadan did not look developed in anyway. Let us forget about all these edited pictures of Ibadan u are posting here and face reality. When a man climbed a mast and jumped down in Ibadan ( he committed suicide actually ) ChannelsTv got the video and from that video, we could see brown roofs everywhere on 1 story buildings and bungalows littered everywhere. When Yinka Ayelefe's radio station was destroyed, didn't you see the video on TVC? Didn't you see that the radio station was like the only modern looking building without brown roofs in the area? You are free to check YouTube and see these videos for yourself. Look closely are the environment and surrounding building, they look like structures in the village and its shameful that that is Ibadan. During the #TrashChallenge which took place in front of the so-called beautiful Agodi gardens, the gate and road of the garden was very dirty and rough, the houses opposite the garden's gate were village buildings, you can look for the news here on nairaland and see for yourself. Ibadan is a huge disgrace to city tourism in Nigeria honestly.
You mentioned malls, you have forgotten that the beautiful part of Ibadan is very small. It is so small that 3 mall are barely 3km away from each other. Cocoa mall and Heritage mall are sharing the same fence with each other while cocoa tower is sharing the sane fence with cocoa mall all on Dugbe street. Ventura isn't far from them, so how can you say Ibadan's beautiful part is bigger than Anambra when it is only on 2 or 3 streets? Those tall buildings you listed above are mainly on the same Dugbe street. The most annoying part is when you guys claim you have the biggest mall. No mall in Ibadan is the biggest mall in anything, not in landmass, not in retail area etc. Polo park mall Enugu is bigger than all the malls in the South west while the Tinapa mall in Cross river is the largest mall in Nigeria. You can check it out yourself. You better respect yourself and stop promoting a useless and disgraceful city like Ibadan here.
Is this not a miracle?People living in mud houses have the Fourth Largest Economy in Nigeria,bigger than all the 5 south eastern states joined together.lol
They even have parks,5 mega malls,golf courses,amusement parks that are bigger and better than any in Igboland.After enjoying,they will go back to their large,gigantic mud houses,abi?
Unbiased1: Why don't you be truthful to yourself at least for once? Who are you trying to deceive here? I watched the political campaigns of some the political parties in Ibadan live on NTA with some highlights on Channels and TVC and from those videos, Ibadan did not look developed in anyway. Let us forget about all these edited pictures of Ibadan u are posting here and face reality. When a man climbed a mast and jumped down in Ibadan ( he committed suicide actually ) ChannelsTv got the video and from that video, we could see brown roofs everywhere on 1 story buildings and bungalows littered everywhere. When Yinka Ayelefe's radio station was destroyed, didn't you see the video on TVC? Didn't you see that the radio station was like the only modern looking building without brown roofs in the area? You are free to check YouTube and see these videos for yourself. Look closely are the environment and surrounding building, they look like structures in the village and its shameful that that is Ibadan. During the #TrashChallenge which took place in front of the so-called beautiful Agodi gardens, the gate and road of the garden was very dirty and rough, the houses opposite the garden's gate were village buildings, you can look for the news here on nairaland and see for yourself. Ibadan is a huge disgrace to city tourism in Nigeria honestly.
You mentioned malls, you have forgotten that the beautiful part of Ibadan is very small. It is so small that 3 mall are barely 3km away from each other. Cocoa mall and Heritage mall are sharing the same fence with each other while cocoa tower is sharing the sane fence with cocoa mall all on Dugbe street. Ventura isn't far from them, so how can you say Ibadan's beautiful part is bigger than Anambra when it is only on 2 or 3 streets? Those tall buildings you listed above are mainly on the same Dugbe street. The most annoying part is when you guys claim you have the biggest mall. No mall in Ibadan is the biggest mall in anything, not in landmass, not in retail area etc. Polo park mall Enugu is bigger than all the malls in the South west while the Tinapa mall in Cross river is the largest mall in Nigeria. You can check it out yourself. You better respect yourself and stop promoting a useless and disgraceful city like Ibadan here.
lol You wrote this lengthy thing just to turn fact on its head?
Anambralstson: It took you hrs to be courageous to reply, minds aren't the same anyway, you are here to spread, while I'm here for business. Fact it will take your you state capital Osogbo 30 yrs to get Awka level.
lol
It is Oshogbo that your Anambra can compete with now. Ibadan has shown its superiority over Igboland that it is more developed. Even the per capita of the Yorubas are superior to that of the Igbos. We are doing this because you trouble us a lot with foolish measuring. There has never been a time in the history of Nigeria or before Nigeria that Igbos have surpassed or even come at par with Yorubas.
You are the ones that will always say that Yorubas hate and envy you but when you are asked about the reason why they hate and envy you,you keep mum. Yorubas will never hate you if you stay your lane and don't show hatred towards them because Yorubas believe and know that you are still below them except in trading (not business)where you are the Oga in Nigeria.
We should be friends but if you do not want to be friends with us,stay away from us and face your professed enemy squarely without dragging Yorubas into your enmity.A word is enough for the wise.
Anambralstson: Pls kindly ignore the e-mumu that enjoying fooling himself with fake pictures, next he will post Lakki or Abuja estates, I have busted him severally with photo reverse app, he's so dumb to take correction, some of them are psycho, just ignore him when he is done fooling himself he will crawl back to his mud enclave, this thread is for industrialization, commercialization and products from our state.
Another pained wailer.Ibadan only is more developed than the entire Igboland. This is another Lakki abi?
MxreR: Lol. Continue fooling yourself. I no wan spoil this thread with the real face of mud houses littered all over ibadan
lol
You know when someone is being punched in the mouth and he cannot do anything because he is being beaten by his superior.The highest he can do is to wail as you are wailing now.
MxreR: Stop crying young man, ibadan is a depressing town filled with mud houses and rustic roofs without toilets. The best thing is demolish ibadan and properly plan and develop the place. For now ibadan is an embarrassment to the education of yorubas.
You mean these Ibadan mud houses? Only Ibadan and Igboland is blown into its tiny undeveloped corner.
vixpal: Although one requires a minimum of a first degree to work as a Teller in a bank or to even be considered for the post of a security guard in some companies, regrettably, one does not need a WAEC Certificate to contest for the office of the President of the Federal Republic of Nigeria
CLAIM: You do not need A WAEC certificate to become the President of Nigeria
CONCLUSION: TRUE
FULL STORY:
The Spokesperson of the All Progressives Congress [APC] Presidential Campaign Council for the 2019 Presidential election, Festus Keyamo, kicked off a storm in the polity when he declared on a Channels Television programme that one does not require the West African Examination Council [WAEC] certificate to become the President of Nigeria.
Keyamo, who is also a Senior Advocate of Nigeria was responding to allegations that his principal, the President, does not possess the WAEC certificate.
Keyamo told his interviewer that the President possesses the certificate, a fact attested to by the fact that officials of WAEC came to the Presidential Villa to present the certificate to the President.
He, however, went on to say that a WAEC certificate is not a requirement for qualification for the office of President.
Is Keyamo right?
The answer is in the affirmative as the supreme law of the land, the 1999 Constitution (as amended) supports his position. Section 131 of the Constitution states the qualifications for the office of the President.
According to the section: “A person shall be qualified for election to the office of President, if:
He is a citizen of Nigeria by birth; He has attained the age of 40 years; He is a member of a political party He has been educated up to at least school certificate or its equivalent” DUBAWA has deliberately highlighted “at least school certificate or its equivalent.” The logical question that follows is to ask what is meant by the underlined words.
To understand this and put the issue in perspective, DUBAWA examined the interpretation section of the Constitution.
This is Section 318 of the Constitution. According to the Section: “School Certificate or its equivalent” means:
A Secondary School Certificate or its equivalent or Grade II Teacher’s Certificate, City and Guilds certificate; or Education up to Secondary School Certificate level; or Primary Six School Leaving certificate or its equivalent and – (i) service in the public or private sector in the Federation in any capacity acceptable to the Independent National Electoral Commission for a minimum of ten years and
(ii) attendance at courses and training institutions as may be acceptable to the Independent National Electoral Commission for periods totaling up to a minimum of one year, and
(iii) the ability to read, write, understand and communicate in the English language to the satisfaction of the Independent National Electoral Commission, and
4. any other qualification acceptable by the Independent National Electoral Commission.”
Conclusion:
Although one requires a minimum of a first degree to work as a Teller in a bank or to even be considered for the post of a security guard in some companies, regrettably, one does not need a WAEC Certificate to contest for the office of the President of the Federal Republic of Nigeria.
MxreR: I don't want to post Ogun state here because the mud houses and rustic roofs in Abeokuta can start causing people to vomit here.
Ibadan is more developed than all your tiny undeveloped 5 south eastern states joined together. Now do not be shy,do you have these in all your 5 states joined together? Who dash monkey banana? THIS IS IBADAN ONLY O..
MxreR: Lol. What is this one yapping about? Ibadan is 100% mud houses and rustic roofs without toilets. If i post pictures of ibadan here people go puke. Bitter truth. Cry more
lol Ogun state is more developed than Igboland and
you are pained that only Ibadan is more developed than your tiny undeveloped igboland.
Just SOME OLD PARTS OF iBADAN in this video..... Ibadan only has up to 12 GRAs while your tiny Igboland has not up to 6
MxreR: This is coming from a clown from yoruba land which is littered with mud houses and rustic brown roofs all over the yoruba state capitals. Aerial views of yoruba land is so disgusting, dirty and depressing. Lol
3 or 4 storey upstairs built with cement and block are seen as luxury buildings in yoruba land(Oyo, Ondo, Ekiti, Osun and Ogun)
Are you talking about Ibadan that is more developed than all SE states joined together?
Or Ogun state that beats Igboland as a whole in development?
actiondrilling: The recent revelation by the Central Bank of Nigeria (CBN) that the country attracted $6 billion foreign investments in the first three months of the year is a welcome development. The trend is an apparent endorsement by the international community of the Buhari administration’s tripartite policy on the war against corruption, insecurity and revitalising the economy.
Speaking with journalists at the end of the Bankers Committee meeting in Lagos, penultimate week, CBN Director, Banking Supervision, Ahmad Abdullahi, noted that confidence in the economy by both local and foreign investors has been on the rise despite the elections. He said the committee noted that despite the numerous headwinds in the economy, “lending to the private sector and the economy generally has increased and that is very positive news. The confidence by foreign investors has also increased. For instance, between January and March despite the election, up to $6 billion came in and that is positive news.”
The Bankers Committee also disclosed that it will be setting aside N200 billion for cash crop promotion in the country and would commence disbursement of funds for the creative sector this month.To this end, he said, the committee decided to consolidate on the gains made so far and continue with the initiatives such as import substitution programme, the Anchor Borrowers Programme, and some other initiatives of both the CBN and the Bankers Committee.
On his part, Group Managing Director and Chief Executive of United Bank for Africa (UBA), Kennedy Uzoka, noted that the Bankers Committee will be setting aside not less than N200 billion that will be given at single digit for up to 10 years span to farmers and value chain operators in the cash crop industry.
He, however, stated that the committee believes that the country has not made much progress in its drive to diversify the economy away from oil. Uzoka said the committee had set up a subcommittee “and the subcommittee of members; those who have operated in geographies in our continents where exports have done very well. We have seen some countries that have similar products with us that have excelled in exporting while we have dropped.
He said the CBN has different types of fund which the committee looked at for which to address the current challenges. He said: “We looked at some products, with viability of these products to export, and how it would help export, address employment issues, create the necessary economic activities and create relief in terms of foreign exchange because if we add value to a commodity, we would create employment here and that would save us forex as against what we do today – most of our products are exported in raw form. We believe that with a little push we can add a lot more value.
“Our immediate focus would be oil palm, cocoa, sesame seed and of course shea and cashew. Based on the meeting we had today, we are going to be lending at single digit up to a maximum of 10 years and we are going to devote N200 billion to support this and that would change the narrative for export.” Also, the Managing Director and Chief Executive of Access Bank, Herbert Wigwe, said the committee would commence disbursement of funds for the creative industry. He said the committee revisited the entitle value chain of music, movies, information technology and fashion right from the production facilities to the production in terms of capacity building to ensure that whatever is produced along each of the verticals is world class.
Meanwhile, the Director Corporate Communications of the CBN, Isaac Okoroafor, has debunked reports that 70 per cent of the rice in Nigerian markets is imported. Okoroafor noted that the CBN would be working with relevant authorities to deal with smugglers as well as those who fund activities aimed at frustrating the efforts of the apex bank at revitalising the economy. It is instructive that Foreign Direct Investments (FDIs) in Nigeria averaged $1261.83 million from 2007 until 2018, reaching an all timehigh of $3084.90 million in the fourth quarter of 2012 and a record low of $435.64 million in the second quarter of 2018. It increased by $438.84 million in the third quarter of 2018.
We observe that this impressive data on FDIs in Nigeria is largely attributable to the government’s sustainable macro-economic policies and successes recorded in the fight against corruption, combating insecurity, particularly the Boko Haram insurgency in the North-east, kidnappings and armed robbery across the country, as well as revamping the economy which is exemplified by the fact that the nation has exited economic recession and other negative economic indices.
While we commend key economic actors like the CBN and the Federal Ministry of Trade and Investment for this economic feat, it is pertinent to draw attention to the fact that it is not yet Uhuru as the nation’s economy is grossly under-industrialised, resulting in mass import dependency. There is, therefore, the urgent need for the federal government to accelerate its economic diversification programme in order to free the country from over-dependence on crude oil and encourage manufacturing.
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