The Minister of Trade and Investment Olusegun Aganga has stated that Nigeria is in a unique position with the highest rate of returns on investment in Africa.
This he claims was made possible because the nation’s macro-economic stability is much stronger than most developing countries in Africa and this in 2012 made Nigeria become the highest destination for investment in Africa, attracting investment of about $8.6billion, with an increase of about 46 percent growth and investment.
Speaking on Channels Television’s Business Morning, the Minister explained that according to the Central Bank of Nigeria’s (CBN) result, the total foreign investments in Nigeria as at 2012 is in excess of $16billion, compared to $7.9billion in 2011.
This, Mr Aganga said has shown a big interest in investment momentum in the country between 2012 and 2011 despite its security and infrastructural challenges.
The nation’s possession of a huge market, raw material, capital and technology know-how are factors that make Nigeria a favorable destination for investors despite its challenges.
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