Economy

8 Nigerian States Fail to Attract Foreign Investment For Over 5-Year Period

Recent data released by the National Bureau of Statistics (NBS) as gathered by The Spectacles has revealed a concerning trend in foreign investment across several states in Nigeria. Between 2019 and 2023, eight states failed to attract any foreign capital, raising questions about their economic competitiveness and investment climate. The eight states included Bayelsa, Ebonyi, […]

News

Zamfara Govt Assures Mining Investors Of Safety, Favorable Business Environment

Dauda Lawal, the Governor of Zamfara State, provided strong assurances to both domestic and international investors on Monday, emphasizing the safety and conducive business climate for those interested in investing in the state’s rich array of solid minerals. Zamfara State boasts control over at least 27 distinct solid minerals, including valuable resources such as gold […]

Economy

‘Nigeria Lacks Macroeconomic Framework To Attract Foreign Investment’ – U.S.

The US Deputy Secretary of Treasury, Wally Adeyemo, has said Nigeria lacks the macroeconomic framework to attract more dollar denominated foreign direct investments into its economy. Adeyemo noted that the government needs to develop a macroeconomic framework that demonstrates its commitment to the fundamentals and this will in turn help attract foreign investors to the […]

News

Tinubu Attracts Volkswagen, Other Manufacturers Back To Nigeria

During the G-20 summit in India, President Bola Ahmed Tinubu engaged in discussions with German Chancellor Olaf Scholz with the aim of revitalizing Nigeria’s car manufacturing sector. Ajuri Ngelale, the Special Adviser on Media and Publicity to the President, confirmed this development in a statement issued on Sunday. President Tinubu emphasized the significance of expanding […]

International

Indian Investors Commit To $14 Billion Investment In Nigeria

President Bola Ahmed Tinubu announced that Indian investors have committed to investing $14 billion directly into Nigeria’s economy. The news was revealed by Ajuri Ngelale, Special Adviser to the President on Media and Publicity, in a statement released on Wednesday. President Tinubu made this announcement during a Presidential roundtable held between Nigeria and Indian investors […]

Economy

List Of Nigerian States Attracted Zero Foreign Investments In 2022 By NBS

Foreign investors ignored 27 states as the value of capital importation into Nigeria fell by 20.5 percent to $5.33 billion in 2022 from $6.70 billion in 2021. The National Bureau of Statistics (NBS) disclosed this in its latest Nigerian Capital Importation report for the four quarters of 2022. The publication looks into the value of […]

Economy

Nigerian Governors Who Attend Dubai Investment Meeting 2022

By Golok Nanmwa, Jos Plateau State Governor Simon Lalong is among the Nigerian Governors attending the 2022 Annual Investment Summit (AIM) 2022 holding at the Dubai Exhibition Centre, United Arab Emirates. A statement signed by Macham Makut the director of press and public affairs to the Governor made available to newsmen in Jos reads that […]

Economy

FG Reaffirms Commitment To The Development Of Nigeria’s Investment Policy

The Federal Government has reaffirmed its commitment to the development of Nigeria’s Investment Policy to attract more investors into the country. The Permanent Secretary Federal Ministry of Industry, Trade, and Investment, Dr. Evelyn N. Ngige disclosed this during the opening ceremony of Stakeholders’ Engagement on the draft Nigeria’s Investment Policy (NInP) held in Kano today. […]

Economy

FG Deepens Business Reforms, Promotes Private Sector Investment – Osinbajo

*VP commissions Toyota Certified Service Centre in Lagos *Excited cheering crowd of Lagosians throng motorcade outside venue of commissioning In line with its objective of creating a more conducive business environment in Nigeria, the Federal Government will continue to deepen business reforms and partner with the private sector to ensure wholesome national development. Vice President […]