Tag: FDI

Shell plans $5bn investment in Nigeria

Aminu Imam

Tinubu to remove bottlenecks for multi-nationals Shell Petroleum Development Company of Nigeria has announced an upcoming $5bn investment in the Bonga North project, located off Nigerias coast, saying it underscores Shells commitment to the countrys energy sector.  Shells Global Integrated Gas and Upstream Director, Ms. Zoe Yujnovich, on behalf of the Shell Group, affirmed to President Tinubu during an official visit, of the companys intent to sustain its investment legacy in Nigeria. This includes a particular focus on deepwater and gas sector opportunities, with a pledged investment of $1bn over…

Read More

Your investments are safe in Nigeria – Tinubu woos Saudi investors

Aminu Imam

President Bola Tinubu has assured potential investors that their investments are safe in Nigeria. Speaking at the Saudi-Africa Summit in Riyadh, Saudi Arabia, yesterday, President Tinubu, in a statement issued by presidential spokesman, Ajuri Ngelale, said Nigeria is ready for business while assuring investors of some of the worlds highest returns on investment. The President said Nigeria is desirous of enhancing collaboration with the Kingdom of Saudi Arabia on combating terrorist organisations such as Boko Haram, ISWAP, and other violent extremist groups which have been terrorising the Lake Chad and…

Read More

Nigeria tops South Africa in FDI in 2020 UN Report

Aminu Imam

Nigeria, Africas largest economy attracted a total FDI of $2.6 billion in 2020 down from the $3.3 billion it attracted a year earlier, data from the United Nations Trade Association shows. South Africa, a major competitor for FDI inflows in sub-Saharan Africa attracted less, with $2.5 billion the report highlights. Egypt recorded the highest influx of FDI among African countries with a total inflow of $5.5 billion representing a whopping 38% drop; despite this drop however, the country remains the top investment destination in Africa. According to the UN report,…

Read More