The Surge in Foreign Direct Investment

Foreign Direct Investments (FDIs) are the lifeblood of economic development, injecting capital, technology, and expertise that can significantly boost a host country’s economy. Recently, Nigeria witnessed a remarkable 114% growth in FDIs, a testament to the positive impact of recent economic reforms implemented by the administration of President Bola Ahmed Tinubu.
These reforms aimed to stabilize and revitalize the economy. The Central Bank of Nigeria (CBN) introduced measures for price discovery and attracting liquidity to the foreign exchange market, making Nigeria a more attractive destination for foreign investors. Additionally, the government reduced fuel subsidy payments, freeing up resources for more productive sectors.
Finally, scaling back government financing by the CBN helped control inflation and stabilize the economy. Download full article