The Executive Secretary and Chief Executive Officer of Nigerian Investment Promotion Commission (NIPC), Yewande Sadiku, was a guest on Arise Xchange, the weekly global business report of ARISE TV Networks on Thursday, 16 July, 2020 where she shared her thoughts on how the coronavirus pandemic has affected Nigeria’s strategy in soliciting foreign investments and renewed focus in local investors focusing on stimulating local businesses. Commenting on UNCTAD’s forecast which estimates that foreign direct investment flows will decrease by 30-40% in 2020/2021, Sadiku explained that “as the pandemic worsens and economies further contract, our projection remains that those UNCTAD figures will shrink even further”. She added, “Investment announcements which we track and share daily through our newsletter show that $5.06 billion investment announcements were recorded in the first half of 2020 – this is a third of what was recorded within the corresponding period last year”. Nevertheless, the biggest investments for new entrants from the half-year were recorded from Kaduna, Nasarawa and Ekiti states. READ ALSO: Removal of fuel subsidy, price-fixing excites Atiku Addressing the anchor, Boason Onafeye’s question on the 33 projects announced, the importance of tracking investments, she explained that “in the first half of 2020, NIPC tracked 33… Read full this story
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