Minister blames insecurity for Nigeria’s flop investment destinations ranking in Africa

December 10, 2021
13 Views

Spread the love

The Minister of Industry, Trade, and Investment, Niyi Adebayo, on Thursday, acknowledged  Nigeria’s fall in a ranking of top investment destinations in Africa, blaming the country’s low ranking on insecurity.

The ranking contradicts President Muhammadu Buhari’s presentation at the Expo 2020 Dubai trade and investment forum in UAE, where he said that Nigeria remains Africa’s most attractive investment destination.

A report by Rand Merchant Bank (RMB) titled, ‘Where to Invest in Africa 2021’ ranked Nigeria 14th on investment attractive nations in Africa.

Nigeria was second in the 2014 report.

The Minister at a media briefing at the State House, Abuja, highlighted: “The reasons for that are various, the major one being the security problems that we have in the country.

“And as you are all aware, the Federal Government is making every effort to resolve the security problems, so that we will go back to the position of being the preferred destination.

“Our position is getting better because there seems to be a big interest now in investing in Nigeria.”

You may be interested

Explosion rocks Catholic church in Taraba
News
1 views
News
1 views

Explosion rocks Catholic church in Taraba

Webby - January 25, 2022

Explosives suspected to have been planted by terrorists have destroyed part of the Catholic Chapel of St. John’s College, Mutum-Biyu,…

Court Issues Arrest Warrant For Diezani Alison-Madueke Over Failed Extradition
News
13 views
News
13 views

Court Issues Arrest Warrant For Diezani Alison-Madueke Over Failed Extradition

Webby - January 25, 2022

A Federal High Court in Abuja has issued an arrest warrant against the former Minister of Petroleum Resources, Diezani Alison-Madueke,…

SAN, 6 lawyers face sanctions over conflicting court orders
News
15 views
News
15 views

SAN, 6 lawyers face sanctions over conflicting court orders

Webby - January 25, 2022

The Nigerian Bar Association (NBA) yesterday said it will take seven lawyers, including a Senior Advocate of Nigeria (SAN), to…

Leave a Comment

Your email address will not be published.