FDI in Nigeria Hits $7b, says Minister

The United Nations Conference on Trade and Development (UNCTAD) has rated Nigeria as the biggest beneficiary of foreign direct investment (FDI) in Africa with over $7 billion worth of foreign investments inflow in 2012, the Minister of State for Trade and Investment, Dr. Samuel Ortom, has said.

Dr. Ortom, who disclosed this in an interview in Makurdi, said the country was also adjudged by the world body as the best destination for foreign investments in the continent, adding that the country had in the last two years led other African countries in the UNCTAD rating in the inflow of investments in all sectors of the nation’s economy.

The minister said the government has put in place a strategic plan, tagged, ‘Nigeria Industrial Development Plan,’ which would shape and direct the industrialisation of the country, as well as woo more foreign investors.