Nigeria bags quarter of total FDI into Africa
TradeInvestNigeria Staff
Posted on: Wed, 09 Apr 2008


Foreign direct investment (FDI) into Nigeria grew with 134% to N1.123 trillion (US$9.6 billion) in 2007.

Out of a total US$36 billion of FDI that went into Africa, Nigeria received 26.66% of the inflow.

According to Central Bank of Nigeria (CBN) data the surge in FDI can be attributed to reforms in the banking sector. This has led to a greater desire for foreign banks to enter the Nigerian market.

It is expected that the recent positive developments in the insurance sector will attract even more foreigners to Nigeria's economy. As the country’s political situation becomes more stable by the day a growing number of investors begin to see Nigeria as an attractive investment destination.



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