Nigeria’s economy still attractive for foreign investment
Nigerian economic climate is still attractive for foreign investments, despite its present challenges.
Nigeria is the largest economy in Africa, with Gross Domestic Product (GDP) of 549.6 billion dollars, is still attracting foreign investments especially from private equity funds. Amidst the challenging economy, Nigeria’s foreign direct investment still remains the third highest in Africa and better understanding of the vagaries of doing business in Nigeria creates savvier investors.
Monthly Foreign Portfolio Investment (FPI) transaction at the Nigeria Stock Exchange, which was N125 billion at the end of 2014, decreased to N99 billion at the beginning of 2015, down by 20.39 per cent from December, 2014, adding that domestic investors gave up approximately 4.48 per cent of trading to foreign investors, reducing from 51.76 per cent to 47.76 per cent while FPI transaction rose from 48.24 per cent to 52.24 per cent.
The present economic challenges faced by Nigeria were not insurmountable as things were not as bad as people made them to appear, noting that irrespective of the outcome of upcoming general elections, Nigeria would continue to grow economically.
Culled from the Business Day News.
Paper on – “Nigeria-macro Economic Environment and Implications for Foreign Investment,” by Abosi, Head, Corporate Finance and Capital Markets, SPA Ajibade and Company at the event organised by Nigeria-South Africa Chamber of Commerce in Lagos