reported that FDI inflow into the country fell by 58.98 per cent in 11 years. The Washington-based lender revealed this in its annual report tagged, ‘International Debt Report’. It said the country’s FDI depreciated from $5.97bn in 2010 to $2.45bn in 2021., a Professor of Economics and former Vice-Chancellor, Greenfield University, Seth Akutson, explained that Nigeria’s monetary and fiscal policies do not encourage foreign investors.
He said, “The security situation in the country does not encourage FDI. People cannot put their money in a country that is plagued with insecurity. “Also, the policy framework of the Federal Government does not encourage investors. If you look at the capital market, you will see that there are a lot of exits in foreign portfolios. The fiscal policy environment and tax regime have not encouraged investors to put in their money here. Multiple taxations from left, right, and centre have not encouraged investors.
“The showman process of going to attract investors does not hold water. The real variable must be looked at.”All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
This is one of the problems Peter Obi will solve. Watch this, you'll love this man