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HomeAfricaNigeria's domestic investment up by 46% in 2011

Nigeria’s domestic investment up by 46% in 2011

The Nigerian government has pledged to continue to provide a conducive environment for business to thrive, as domestic investment grew by 46% in 2011, according to Trade and Investment Minister Olusegun Aganga.

The private BusinessDay newspaper reported Tuesday that the minister made the disclosure about domestic investment when he presented the national internal investment profile in Abuja, the Nigerian capital, at the inauguration of the World Bank’s Investment Climate Assessment (ICA) report.

”The performance of Nigeria on the recent report issued by United Nations Conference on Trade and Development (UNCTAD) about the global investment flow across the world indicated that investment flow globally has increased by 16 per cent.

“It said that the flow to Africa has come down by one or two per cent because of the war in Egypt, Libya and the others. But what is important to us is that the investment flow to Nigeria has gone up by 46 per cent to N8.9 billion,’’ the minister told his audience (US$1=160 Naira).

He said the investment dividends based on the ICA assessment of investment climate in 26 states of the federation came through the effort of the federal government.

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