Home NIGERIA Nigeria is third largest recipient of foreign direct investments in Africa, according...

Nigeria is third largest recipient of foreign direct investments in Africa, according to Ernst&Young

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The great news was celebrated by supporters and agents of President Muhammadu Buhari in a statement sent to TODAY NEWS AFRICA USA in Washington D.C.

They wrote:

The recent report by the Ernst &Young naming Nigeria as the third largest recipient of foreign direct investments (FDI) in Africa is a testimony that the administration of President Muhammadu Buhari is focussed and delivering on its electoral promises.

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According to the Buhari Media Organization (BMO), the large inflow of foreign direct investments into the country is the direct positive outcome of the federal government’s policy of ease of doing business, favourable investment climate and relative security prevalent in the country.

In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, BMO noted that the deliberate efforts  of the current administration to curb corruption in the system and removing obstacles for foreign investments enabled an inflow of about $8Billion in 2018 in at least 65 projects, leading to the creation of about 10,000 direct and indirect jobs across the country.

“This singular development is a clear demonstration of the unwavering faith of international investors in Nigeria’s economy under the President Muhammadu Buhari administration.

“We wish to acknowledge that with this rating by one of the world’s most notable financial analysts, the false predictions of nay-sayers and opposition elements that Nigeria is lagging behind in foreign direct investments has been debunked”.

The group says it is obvious that, based on this development, President Buhari is right in his position that Nigeria is open and ready for the world to come in and invest.

“Under President Muhammadu Buhari, Nigeria has remained on a sustainable economic growth especially as economy formed one of the three major planks of his government, along with security and the fight against corruption.

“It is on record that countries like China, India, South Africa, USA, France and United Kingdom have remained the major investors in the Nigerian economy, spanning various sectors like railways, mining, agriculture, oil and gas, real estate, health among others.

“We acknowledge that these massive investments did not happen by chance, but through deliberate economic policies of the Buhari administration aimed at boosting the economy and improving the lives of Nigerians”.

BMO therefore, enjoined Nigerians to continue to keep faith with the Buhari administration as it marches on rebuilding the country.

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