This is one of Nigeria’s major challenges: diminishing foreign direct investments. Yes, “revelations from a presentation by Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, have shed light on a concerning trend in the country’s foreign direct investment (FDI).
“According to Edun’s presentation, FDI in Nigeria has seen a significant decline, plummeting from $22.7 billion in 2014 to a mere $3.7 billion in 2023. This staggering $19 billion drop over the span of a decade underscores the challenges facing Nigeria’s investment climate and economic stability.”
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Year 2014 – $22.7 billion
Year 2023 – $3.7 billion
That is statistically significant. The question is this: why did that happen? You can also add: do Nigerians really care? When we write here that Nigeria has lost a decade, many will attack me because my name is Ndubuisi. But if for the sake of this post, you assume, I am Wale Adamu Ndubuisi Effong …, would you like to understand why investors have moved on from Nigeria, that within a decade we saw a $19 billion drop?
Source: CBN data
This is one of Nigeria's major challenges: diminishing foreign direct investments. Yes, “revelations from a presentation by Wale Edun, Nigeria's Minister of Finance and Coordinating Minister of the Economy, have shed light on a concerning trend in the country's foreign direct… pic.twitter.com/1XQ4RfRdV4
— Ndubuisi Ekekwe (@ndekekwe) April 17, 2024
Foreign Direct Investments in Nigeria Plummet by $19 Billion Over 10 Years – Finance Minister
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