{"id":6738,"date":"2017-10-23T03:53:01","date_gmt":"2017-10-23T03:53:01","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/need-to-brighten-our-2018-fdi-prospects\/"},"modified":"2017-10-23T03:53:01","modified_gmt":"2017-10-23T03:53:01","slug":"need-to-brighten-our-2018-fdi-prospects","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/need-to-brighten-our-2018-fdi-prospects\/","title":{"rendered":"Need to brighten our 2018 FDI prospects"},"content":{"rendered":"<p>\n<\/p>\n<div itemprop=\"description\" readability=\"102\">\n<p>A REPORT recently released by Quantum Global Research, a global organisation tracking plans for Foreign Direct Investment, FDI, in various countries should worry all Nigerians.<\/p>\n<figure id=\"attachment_880117\" style=\"width: 412px\" class=\"wp-caption alignnone\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/cdn.vanguardngr.com\/wp-content\/uploads\/2017\/10\/Buhari-letter2.jpg?resize=412%2C250&#038;ssl=1\" data-lazy-src=\"https:\/\/i0.wp.com\/www.vanguardngr.com\/wp-content\/plugins\/lazy-load\/images\/1x1.trans.gif?ssl=1\" class=\"size-full wp-image-880117\" alt=\"\" width=\"412\" height=\"250\" srcset=\"https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/10\/Buhari-letter2.jpg 412w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/10\/Buhari-letter2-300x182.jpg 300w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/10\/Buhari-letter2-58x35.jpg 58w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/10\/Buhari-letter2-260x158.jpg 260w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/10\/Buhari-letter2-200x121.jpg 200w\" sizes=\"auto, (max-width: 412px) 100vw, 412px\"\/><noscript><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-880117\" src=\"https:\/\/i0.wp.com\/cdn.vanguardngr.com\/wp-content\/uploads\/2017\/10\/Buhari-letter2.jpg?resize=412%2C250&#038;ssl=1\" alt=\"\" width=\"412\" height=\"250\" srcset=\"https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/10\/Buhari-letter2.jpg 412w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/10\/Buhari-letter2-300x182.jpg 300w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/10\/Buhari-letter2-58x35.jpg 58w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/10\/Buhari-letter2-260x158.jpg 260w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/10\/Buhari-letter2-200x121.jpg 200w\" sizes=\"auto, (max-width: 412px) 100vw, 412px\"\/><\/noscript><figcaption class=\"wp-caption-text\">President Muhammadu Buhari signing a document<\/figcaption><\/figure>\n<p>In its latest report on all countries on all the continents of the world, Nigeria is the only large economy which is not included in the 2018 investment plans.<\/p>\n<p><!-- between content ad --><\/p>\n<p>Nigeria has fallen from its top spot in 2014 to the 19th investment destination in Africa. Nigeria, after rebasing the economy in 2013, was declared Africa\u2019s largest economy.<\/p>\n<p>That was understandable given the fact that crude oil was priced at up to $110-145 in the previous three years and there seemed to be no end to the halcyon days. Consequently, Nigeria gained the top spot for FDI on the continent when the rush for oil and gas investments was on.<\/p>\n<p>But since 2015, the world had become weary of investment in oil and gas in Nigeria and we have failed to diversify our economy to attract investment in other sectors.<\/p>\n<p>The decline in FDI started in 2015 as the economy plunged into recession and the business community waited for a long time for the appropriate responses from the President Muhammadu Buhari administration without much green light.<\/p>\n<p>Unless things change, the outlook for next year is the bleakest we shall be experiencing since oil started driving our economy. South Africa has regained the top spot as the continent\u2019s investment destination.<\/p>\n<p>Even small African countries like Botswana, Burundi, Equatorial Guinea and medium economies like Egypt, Tunisia and Kenya, can confidently look forward to the influx of foreign investment. There might not be much for Nigeria unless we act fast.<\/p>\n<p>We must pay heed to the frequent alarms being sounded by Vice President Yemi Osinbajo that oil can no longer be seen as the future of Nigeria\u2019s economy. The effort at diversification must now shift to an emergency gear.<\/p>\n<p>We are convinced that the albeit improperly developed policy of giving out government business and economic institutions as concessions to qualified, competent and financially-capable private companies, whether local or foreign, will be of great help. Areas of interest include the transport, <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">real estate<\/a>, agriculture, tourism, power and service sectors.<\/p>\n<p>It will not only reduce the amount we spend annually on recurrent needs, it will also enable us to channel more <a href=\"https:\/\/amazingproperty.com.ng\/blog\/get-quick-loan-for-real-estate-investment\/\">funds<\/a> to social sectors such as education, health, water supply and others which are currently in great deficit.<\/p>\n<p>We must invest a lot in the manpower upgrade of our young people, especially in the service sector. Above all, we must begin to respect pacts and obey court rulings. Without these, the lack of foreign investor confidence in our economy will never improve, and the FDI will never come.<\/p>\n<\/p><\/div>\n<p><a hre=\"https:\/\/www.vanguardngr.com\/2017\/10\/need-brighten-2018-fdi-prospects\/\"> Vanguard <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A REPORT recently released by Quantum Global Research, a global organisation tracking plans for Foreign Direct &hellip; <a title=\"Need to brighten our 2018 FDI prospects\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/need-to-brighten-our-2018-fdi-prospects\/\"><span class=\"screen-reader-text\">Need to brighten our 2018 FDI prospects<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":6739,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[519,524,522,15272,84],"class_list":["post-6738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-africa","tag-continent","tag-nigeria","tag-outlook","tag-real-estate"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/10\/Buhari-letter2.jpg?fit=412%2C250&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":4636,"url":"https:\/\/amazingproperty.com.ng\/blog\/ogfza-gets-land-from-bayelsa-state-for-free-zone-business\/","url_meta":{"origin":6738,"position":0},"title":"OGFZA gets land from Bayelsa State for free zone business","author":"Amazing Property","date":"May 22, 2017","format":false,"excerpt":"Managing Director of OGFZA, Umana Okon Umana The Oil and Gas Free Zones Authority (OGFZA) got a major boost in a bid to fulfill its core mandate and play a key role in the Federal Government drive for foreign direct investments (FDI) when the Bayelsa State government announced last week\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Umana-Okon-Umana-Akwa-Ibom-690x450.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Umana-Okon-Umana-Akwa-Ibom-690x450.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Umana-Okon-Umana-Akwa-Ibom-690x450.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Umana-Okon-Umana-Akwa-Ibom-690x450.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Umana-Okon-Umana-Akwa-Ibom-690x450.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":5721,"url":"https:\/\/amazingproperty.com.ng\/blog\/cappa-dalberto-picked-for-n40b-atlantic-resort-project\/","url_meta":{"origin":6738,"position":1},"title":"Cappa &amp; D\u2019Alberto picked for N40b Atlantic Resort project","author":"Amazing Property","date":"August 14, 2017","format":false,"excerpt":"The proposed Atlantic Resort in Lagos Plans by Grenadines Homes to kick-start its flagship project known as Atlantic Resort, got a boost recently with the selection of building and civil engineering firm, Messrs Cappa & D\u2019Alberto as the main contractor for the N40 billion project. 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