8.2 C
Sofia
Wednesday, February 28, 2024

Top 10 Nations Pouring Foreign Investments into Nigeria

The landscape of foreign investments in Nigeria is witnessing a huge transformation under the leadership of President Bola Ahmed Tinubu ↗. With a keen focus on revitalizing Nigeria’s economy, which has been grappling with slow growth, rising inflation, and mounting debt, the government is actively courting investors. 

Despite challenges such as corporate exodus due to policy reforms like fuel subsidy removal and currency floatation, the administration remains committed to ensuring policy consistency and affirming Nigeria’s openness for business. 

This optimism is mirrored in the latest “Nigeria Capital Importation report” by the National Bureau of Statistics, which reveals a modest increase in total capital inflow to $1.09 billion in Q4 2023, up from $1.06 billion in the same quarter of the previous year. Let’s take a look at some foreign countries investing in Nigeria

United Kingdom

The United Kingdom emerges as the frontrunner in foreign investments into Nigeria, injecting a substantial $267.24 million, which accounts for 24.55% of the total capital importation in Q4 2023. This significant contribution underscores the strong economic ties and investor confidence between the two nations.

Mauritius

Mauritius follows closely, with an investment of $226.18 million, representing 20.78% of the total inflow. The island nation’s strategic positioning as a financial hub in Africa plays a crucial role in facilitating investments in Nigeria.

Netherlands

The Netherlands secures the third spot with an investment of $149.93 million, making up 13.77% of the total capital. The Dutch investments are indicative of the growing interest in Nigeria’s diverse economic sectors.

Singapore

Singapore’s investment of $144.25 million, accounting for a significant share, highlights the strengthening economic relations between Nigeria and the Asian powerhouse.

South Africa

South Africa, a key player in the African economy, has invested $116.37 million in Nigeria, demonstrating the importance of regional cooperation and integration in boosting economic growth.

United Arab Emirates

The United Arab Emirates, with an investment of $70.29 million, is building economic bridges with Nigeria, contributing to the nation’s development agenda.

Hong Kong

Hong Kong’s investment of $19.53 million signifies the expanding horizons of Nigeria’s investment landscape, attracting capital from diverse global sources.

Japan

Japan, with an investment of $14.27 million, remains a steady partner in Nigeria’s economic journey, contributing to various development projects.

Isle of Man

The Isle of Man’s investment of $11.72 million may seem modest, but it represents a niche contribution to Nigeria’s investment portfolio.

China

China, a global economic powerhouse, rounds off the list with an investment of $11.04 million, reinforcing its role in Nigeria’s economic growth story.

Kaylie Pferten
Kaylie Pferten
A pilot of submersible crafts in a former life, now married to my husband David and writing about investment advice.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles