Foreign Investment In Nigeria Reaches N800billion

Foreign Direct Investments (FDI) in Nigeria has reached a record N800 billion in January this year.

This comes as prominent corporations from the United States of America, Canada, The Netherlands and Turkey increased their investment stakes in the country, in a pace never seen before.

The Central Bank of Nigeria’s figures for third quarter of last year showed that a total of $1.4 billion was injected into the economy through FDI while $4.6 billion came in through portfolio investments, with another $4.7 billion invested in the nation’s capital market.

The current inflows and investment commitments with different gestation periods focus on infrastructure development, construction of power plants for the enhancement of electricity generation, mining, healthcare, agriculture and agro-allied sectors of the Nigerian economy.