EY Africa has released a new report showing that Nigeria has improved on attracting foreign direct investments.
Titled “Turning Tides”, the Africa Attractiveness report, which was released today said Nigeria got 25% more FDI projects in 2017 compared to 2016.
“In line with its recovery from recession in 2017, Nigeria garnered 25% more FDI projects. According to the World Bank, Nigeria was among 10 economies globally with the strongest improvement in their business environment last year,” the report read.
“The country jumped 24 places on the Ease of Doing Business index, thanks to concerted government efforts to tackle red tape, mismanagement and corruption. US companies were particularly confident about Nigeria in 2017, launching 22 projects versus 10 in the previous year.
“South African, Chinese and UK investors also increased their FDI activity into Nigeria.”