Why Nigeria is favourite investment destination after China, India – Edun

Bisola David
Bisola David
FG plans to raise $50m impact investment fund

The Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, has declared that after China and India, Nigeria is the largest economy that investors are interested in.

Edun offered this perspective on Tuesday while briefing journalists on the sidelines of the ongoing World Bank/International Fund Annual Meetings in Marrakech, Morocco.

He stressed the significance of making the necessary preparations to draw such investments and turning initial interest into investments in agriculture, solid minerals, industry, manufacturing, and import substitution.

These industries, notably in terms of foreign direct investment, were cited by the minister as the main motivators for investors’ interest in Nigeria.

He said, “These investors also include those who are presently residing in Nigeria.”

He also stated, “We aim to promote the development of the Nigerian economy, reduce poverty, and raise everyone’s standard of living in Nigeria. This is President Bola Tinubu’s and his administration’s commitment.”

Edun made it clear that he attended the World Bank/IMF meetings in Marrakech to assess the international viewpoint on Nigeria. He stated that the initial responses had been favourable and that Nigeria had been chosen to serve as the World Bank’s African Governors’ Forum’s chair.

He emphasised that the opportunity will bring together finance ministers, business titans, and government officials on the African continent with this new position.

He recommended that they work together to promote a just and equitable energy transition.

“Nigeria now has the opportunity to unite the continent as the head of the African Governors’ Forum, allowing African nations to offer a cohesive voice and get a better deal for Africa,” he added.

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