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N3.2trn entered Nigeria as Foreign Direct Investment since 2010 – Okonjo-Iweala

By BusinessNews Staff on November 13, 2013

The Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Monday, revealed that over $20bn (N3.2tn) Foreign Direct Investment entered the Nigerian economy in the last three years.

Okonjo-Iweala, who was addressing journalists in Abuja at a world press conference about the 24th World Economic Forum on Africa slated for Nigeria next year, said the N3.2tn invested in the Nigerian economy within the last three years represents 10 per cent of the entire African continent’s FDI.okonjo

The summit, scheduled for Abuja, will be the first time the WEF will be held in West Africa. The minister noted that hosting the economic conference would ensure that Nigeria remains the largest recipient of FDI in Africa and also ensure that the investments it attracts are broad based.

This, she added, would help generate millions of jobs for the youthful population.

“The WEF is an organisation that has been in existence for more than 25 years,” she said. “The reason and objectives is to bring together top-class Chief Executive Officers of big organisation in the world together with government, in order to forge a partnership that can lead to the improvement of the private sector in given countries, so that you can have improved job creation and improvement of standards of living.

“We are very honoured and it’s very clear the reason why Nigeria made the list of this conference and the reason is that they find it very fascinating the developments that are happening in the Nigerian economy.”

Okonjo-Iweala said the forum offered an unprecedented opportunity for Nigeria to showcase its vast economic opportunities to the world and deepen dialogue on economic reforms between the international and Nigerian private sector.

[Telegraph Nigeria]

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