{"id":27805,"date":"2018-10-30T10:44:36","date_gmt":"2018-10-30T09:44:36","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=27805"},"modified":"2018-10-30T10:44:36","modified_gmt":"2018-10-30T09:44:36","slug":"report-nigeria-goes-one-step-higher-on-fdi-attractiveness-ranking","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/report-nigeria-goes-one-step-higher-on-fdi-attractiveness-ranking\/","title":{"rendered":"Report: Nigeria Goes One Step Higher On FDI Attractiveness Ranking"},"content":{"rendered":"<p>A new report by EY Africa says Nigeria has improved on attracting foreign direct investments.<\/p>\n<p>The Africa Attractiveness report, which was released on Monday and titled Turning Tides, said Nigeria got 25% more FDI projects in 2017 compared to 2016.<\/p>\n<p>\u201cIn 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,\u201d the report read.<\/p>\n<p>\u201cThe country jumped 24 places on the Ease of Doing Business index, thanks to concerted government efforts to tackle red tape, mismanagement and corruption. US\u00a0companies were particularly\u00a0confident about Nigeria in\u00a02017, launching 22 projects versus 10 in the previous year.<\/p>\n<p>\u201cSouth African, Chinese and UK investors also increased their FDI activity into Nigeria.\u201d<\/p>\n<p>Despite the improved ranking, 20 countries were said to attract FDIs better than Nigeria with Rwanda attracting the most.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>According to the report, Nigeria\u2019s reluctance to allow the exchange rate float freely prolonged the recession.<\/p>\n<p>\u201cThe largest and third largest SSA economies, namely Nigeria and Angola, having suffered severe recessions through 2016 and into 2017, acknowledge the need for diversification,\u201d it read.<\/p>\n<p>\u201cHowever, it is worth noting that until recently, both countries have been reluctant to allow the exchange rate to float freely, as a result of which, they faced prolonged recession.<\/p>\n<p>\u201cThough these economies are recovering well because of significantly stronger oil prices, their growth might be challenged again should oil prices begin falling.\u201d<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>A new report by EY Africa says Nigeria has improved on attracting foreign direct investments. The Africa Attractiveness report, which was released on Monday and titled Turning Tides, said Nigeria got 25% more FDI projects in 2017 compared to 2016. \u201cIn line with its recovery from recession in 2017, Nigeria garnered 25% more FDI projects. &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":27806,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[4842,160,3026],"coauthors":[2391],"class_list":["post-27805","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-fdi","tag-nigeria","tag-ranking"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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