Nigeria’s investment under pressure ― NIPC boss


Yewande Sadiku
Yewande Sadiku, Executive Secretary, Nigerian Investment Promotion Commission, 24 October 2018. UNCTAD Photo by Violaine Martin

The Executive Secretary, Nigeria Investment Promotion Commission (NIPC), Yewande Sadiku, says Nigeria’s investment is under pressure.

Sadiku told newsmen in Abuja on Thursday that investment status in the country had been under pressure even before the Coronavirus (COVID-19) pandemic.

“Investments in Nigeria were under some pressure before COVID-19. Investment in Nigeria in 2020 and 2021 is expected to come under some pressure on account of COVID-19.

“That is not unusual for Nigeria; it is downward pressure that is expected across market.

“In March it had been estimated that FDI inflow will fall by about 30-40 percent globally.

“In 2020/2021 if those updates are done now, the expectation is that the demand will be even lower,” she said.

The NIPC boss however noted that the pandemic had thrown up a number of opportunities which the…

Source: Vanguard Newspaper