State Governors move to attract more Foreign Direct Investments

Despite the huge potential and intensified efforts at wooing investors, the inflow of Foreign Direct Investment (FDI) is low, governors lamented yesterday.

Chairman of Nigeria Governors’ Forum (NGF), AbdulRahaman AbdulRazaq, said that while Nigeria is Africa’s largest economy, endowed with abundant human and natural resources, its FDI inflows in the last decade have averaged only USD 2 billion annually, which is less than 0.5 per cent of GDP.

He spoke in Abuja at the unveiling of NGF’s Investopedia –  a compendium of investment opportunities in the 36 states.

The Kwara State Governor was represented by his Nasarawa State counterpart, Abdullahi Sule.

The governors drew attention to untapped investment opportunities across the states.

They urged potential investors to unlock them for the nation’s prosperity.

According to them, the sub-national units are open, credible and ready to support investment prospecting beyond oil and gas and telecommunications sectors.

Noting that the vast investment potentials at the sub-national level have been underexplored before now, he said it was time to reverse the trend.