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Foreign investment inflow is not by chance

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THE news that Foreign Direct Investment inflow into Nigeria fell by 33 percent in 2022 to stand at a measly $468.91 million, the lowest in nine years, is depressing.

But it is not surprising as the President, Major General Muhammadu Buhari , has mismanaged the economy. As his tenure winds down, he needs to rein in waste and intensify policies to improve the ease of doing business.

FDI inflows into Nigeria have been declining over the years, falling further from roughly $1 billion in 2020 to $699 million in 2021, according to the United States Department of State. UNCTAD had reported that Ghana overtook Nigeria in 2018 as West Africa’s largest FDI recipient with $3.3 billion inflows, while Nigeria’s $2.2 billion wasa 36 percent decline over the previous year.

Currently, an acute shortage starves manufacturers of foreign exchange to pay for raw materials and machinery imports, thereby hampering production. The business operating environment remains harsh and discourages investment. The current confusion and paralysis engendered by the Central Bank of Nigeria’s quirky naira redesign programme typifies the regime’s disorderly conduct of fiscal and monetary policies.

FDI is very important to lift an emerging economy. As domestic productive activities are not deep enough to generate adequate investments to stimulate industrialisation, capital importation is a major trigger. But attracting it sustainably requires intelligent policies.

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You earn it by having the right policies and this government seems to lack the policies that attracts foreign investor. Sad 😭

Okay. Meanwhile the issues: 1. Bola Tinubu's 1993 Narcotics Trafficking & Money Laundering Case, n $460,000 Forfeiture 2. 25% in FCT 3. Forged Certificate 4. INEC not following its guidelines 5. Shettima's Double Nomination 6. Election Rigging 7. Dual citizenship

Gideon Edward Ebiyaburu with account number 3047089007. Two hundred thousand naira payment through POS on the 20/03/2023 ,it was declined but I was debited and the money has not been reversed till now FBN_help FirstBankngr FBN_help FirstBankngr

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