Foreign Direct Investment In Nigeria Is Over $20bn, Okonjo-Iweala Says


Finance Minister Ngozi Okonjo-IwealaNigeria’s foreign direct investment has risen to over $20 billion in the last three years, the Minister of Finance, Dr. Ngozi Okonjo-Iweala, has said.

At a press conference in Abuja on the 2014 World Economic Forum on Africa to be held in Nigeria, the minister assured Nigerians that the insecurity in the north eastern part of the country had not reduced foreign direct investment.

“In spite of the success, the government is taking steps to solve problems of unemployment and poor infrastructure,” she said.

Vast Natural Resources

The minister explained that the Nigerian government was confronted with the challenge of how to put into positive use its vast human and natural resources to ensure that the lives of the citizens improved.

In recent times, insecurity in the north eastern part of Nigeria has become a subject of concern especially how it affects foreign direct investment.

With an improved political stability and economic outlook such as single digit inflation rate, Nigeria’s hosting of the World Economic Forum on Africa is expected to showcase the nation’s vast natural resources for investment to members of the international community.