Investments & Projects

According to the UNCTAD, Nigeria has the third largest FDI stock in Africa -- USD 86.6 billion - after South Africa (USD 145 billion) and Egypt (USD 87.8 billion). This is largely due to the fact that the country remains Africa's largest producer of oil.

Despite what looks like economic downturn, investments in the fast growing telecommunications sector have been put at $68b as at July, 2016. Of this figure, $35 billion comes from Foreign Direct Investments (FDIs)

Dr. Ibe Kachikwu, to appear before its Committees on Petroleum (Upstream), Gas and Foreign Affairs to explain the rationale behind the $100 billion memorandum of understanding (MoU) he signed with Chinese companies and another proposed $15 billion investment deal with India.

Government said the renewed emphasis on stimulating private sector investment was predicated on its belief that it was only by partnering with the private sector that the economy could be thrusted onto the path of sustainability and brought out of recession.

The petroleum industry in Nigeria is the largest on the African continent. Nigeria attracts $393 million foreign investment in its Oil Sector in 9 month.