Tag: Foreign Direct Investment

‘Nigeria, a safe haven for foreign investors’ – Bagudu

Aminu Imam

The Minister of Budget and Economic Planning, Sen. Atiku Bagudu, says Nigeria is a safe haven for foreign investors to take advantage of. The Minister stated this during a press briefing at the end of the 2023 Nigerian Economic Summit in Abuja yesterday. According to him, “Nigeria is an investment haven for investors, despite being faced with some challenges which President Bola Tinubu is currently working on and the result will show soon”. Bagudu further said that in spite of the country’s challenges, the government remained resilient, and was taking thriving…

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Investment: Governor Inuwa Parleys Madugu Cement Factory, Chinese Conglomerate Set to Establish 5 Million Metric Tonnes Cement Plant in Gombe

Aminu Imam

From Umar Kaltungo Gombe has started reaping the benefits of its new status as number one State in terms of ease of doing business with a Chinese conglomerate, Sinoma International Engineering Company Limited in partnership with an indigenous company, Madugu Cement coming to establish a five million metric tonnes Cement Factory in Kembu and Kwali districts of Akko and Yalmatu Deba Local Government Areas of the State. Gombe State Governor, Muhammadu Inuwa Yahaya earlier today met with the investors at the Government House. The Governor informed them that with the…

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FDI: Ekiti, Oyo, Borno, Delta, Kogi States, 21 others record no investment in 2020 – Report

Aminu Imam

26 States of Nigeria failed to attract any Foreign Direct Investments, (FDI), investments in the whole of 2020. The disclosure, which was made by the National Bureau of Statistics, (NBS), in its report that was released recently shows that Ekiti, Kogi, Delta, Bayelsa, Ebonyi, Gombe, Jigawa, Oyo, Ondo, Borno, Cross-River and 15 other State governments failed to attract investments last year. Others listed in the report are Bauchi, Benue, Edo, Enugu, Imo, Katsina, Kebbi, Kwara, Nasarawa, Osun, Plateau, Rivers, Taraba, Yobe, and Zamfara. The NBS’s report, titled: ‘Capital Importation Report’,…

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Nigeria tops South Africa in FDI in 2020 – UN Report

Aminu Imam

Nigeria, Africa’s 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,…

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