* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Monday, June 9, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Cisco Partners with Monumental Sports & Entertainment to Power New D.C. Arena – Cisco Newsroom

    Cisco Teams Up with Monumental Sports & Entertainment to Revolutionize the New D.C. Arena Experience

    Middle Eastern Entertainment Headlines at 5:49 a.m. GMT – Yahoo

    Exciting Updates from the Middle Eastern Entertainment Scene!

    Ceramic Dalmatian Entertainment is WLAF’s Business of the Week – WLAF

    Spotlight on Success: Ceramic Dalmatian Entertainment Shines as This Week’s Featured Business!

    Brass Lion Entertainment unveils co-op action RPG Wu-Tang: Rise of the Deceiver – VentureBeat

    Unleash Your Inner Warrior: Discover the Co-Op Action RPG Wu-Tang: Rise of the Deceiver!

    Entertainment lineup released for 2025 Mississippi State Fair – WAPT

    Exciting Entertainment Lineup Unveiled for the 2025 Mississippi State Fair!

    After Denzel Washington Said He Would Be In Black Panther 3, Ryan Coogler Explained Why He’s ‘Fine’ With That Information Being Revealed So Early – Yahoo

    Ryan Coogler Shares Why He’s Cool with Denzel Washington’s Black Panther 3 Reveal!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    SunHydrogen Unveils Large Hydrogen Reactor in Houston – Fuel Cells Works

    SunHydrogen Launches Groundbreaking Large-Scale Hydrogen Reactor in Houston

    Technology, Labor Rights, and Political Power in Kenya and Across Africa – Tech Policy Press

    How Technology is Shaping Labor Rights and Political Power Across Africa

    Reeves to Announce £86 Billion for Science and Technology in Spending Review – Bloomberg

    Reeves Set to Unveil Groundbreaking £86 Billion Investment in Science and Technology!

    Innovation at Scale: How P&G Transforms Business Through Technology – Procter & Gamble

    Revolutionizing Business: P&G’s Bold Journey into Technological Innovation

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Apple Watch and the future of wearable technology in healthcare – MSN

    Revolutionizing Healthcare: The Future of Wearable Technology with Apple Watch

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Cisco Partners with Monumental Sports & Entertainment to Power New D.C. Arena – Cisco Newsroom

    Cisco Teams Up with Monumental Sports & Entertainment to Revolutionize the New D.C. Arena Experience

    Middle Eastern Entertainment Headlines at 5:49 a.m. GMT – Yahoo

    Exciting Updates from the Middle Eastern Entertainment Scene!

    Ceramic Dalmatian Entertainment is WLAF’s Business of the Week – WLAF

    Spotlight on Success: Ceramic Dalmatian Entertainment Shines as This Week’s Featured Business!

    Brass Lion Entertainment unveils co-op action RPG Wu-Tang: Rise of the Deceiver – VentureBeat

    Unleash Your Inner Warrior: Discover the Co-Op Action RPG Wu-Tang: Rise of the Deceiver!

    Entertainment lineup released for 2025 Mississippi State Fair – WAPT

    Exciting Entertainment Lineup Unveiled for the 2025 Mississippi State Fair!

    After Denzel Washington Said He Would Be In Black Panther 3, Ryan Coogler Explained Why He’s ‘Fine’ With That Information Being Revealed So Early – Yahoo

    Ryan Coogler Shares Why He’s Cool with Denzel Washington’s Black Panther 3 Reveal!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    SunHydrogen Unveils Large Hydrogen Reactor in Houston – Fuel Cells Works

    SunHydrogen Launches Groundbreaking Large-Scale Hydrogen Reactor in Houston

    Technology, Labor Rights, and Political Power in Kenya and Across Africa – Tech Policy Press

    How Technology is Shaping Labor Rights and Political Power Across Africa

    Reeves to Announce £86 Billion for Science and Technology in Spending Review – Bloomberg

    Reeves Set to Unveil Groundbreaking £86 Billion Investment in Science and Technology!

    Innovation at Scale: How P&G Transforms Business Through Technology – Procter & Gamble

    Revolutionizing Business: P&G’s Bold Journey into Technological Innovation

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Drag racer survives frightening airborne crash at World Wide Technology Raceway – FOX 2

    Apple Watch and the future of wearable technology in healthcare – MSN

    Revolutionizing Healthcare: The Future of Wearable Technology with Apple Watch

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

First negative FDI in 33yrs piles pressure on Tinubu

July 6, 2023
in Business
First negative FDI in 33yrs piles pressure on Tinubu
Share on FacebookShare on Twitter

Foreign Direct Investment (FDI) inflows into Nigeria turned negative last year for the first time in at least 33 years, according to new data from a United Nations agency, representing one of the major challenges inherited by President Bola Tinubu.

Tinubu, who took the helm of Africa’s biggest economy just over a month ago, has stoked foreign investors’ interest with some of his actions including the removal of petrol subsidy and the start of foreign exchange reforms.

He has hosted several major companies including Airtel, ExxonMobil, Shell Petroleum Development Company and Bank of America as part of efforts to drive up investments in the country.

The latest 2023 World Investment Report by United Nations Conferences on Trade and Development (UNCTAD) showed that Nigeria’s FDI flows came in at -$187 million in 2022, compared to $3.31 billion in 2021.

Egypt saw the biggest FDI inflow in Africa at $11.5 billion. It was followed by South Africa ($9.05 billion), Ethiopia ($3.67 billion), Senegal ($2.59 billion), and Morocco ($2.14 billion).

“In West Africa, Nigeria saw inflows turn negative, to -$187 million, due to equity divestments. However, the value of announced greenfield projects increased by 24 percent,” it said.

Astrit Sulstarova, chief of data and trends section at UNCTAD, said in an email to BusinessDay that negative numbers of FDI inflows may indicate divestment in assets or discharges of liabilities

“In the case of equity, the direct investor may sell all or part of the equity held in the direct investment enterprise to a third party; or the direct investment enterprise may buy back its shares from the direct investor thereby reducing or eliminating its associated liability,” he said.

Abiodun Keripe, managing director at Afrinvest Consulting Limited, attributed weak flows into Nigeria to unorthodox and cloudy monetary policies, existence of multiple exchange rate systems, weak fiscal policy framework, insecurity and difficulty in capital repatriation.

“Combined with the aforementioned, flows in 2022 were worsened by aggressive global monetary tightening and the uncertainties around the 2023 domestic elections,” he said.

He added that the ultimate implication for Nigeria is that weak capital mobilisation capacity can have a negative effect on growth, and derail the economy from its potential.

Generally, divestment signals pessimism about a country’s investment and business environment, according to Israel Odubola, a Lagos-based research economist.

“For Nigeria, I think the divestments occurred in the oil and gas sector. And I feel it reflects investor’s pessimism about the prospects of the sector,” he said.

The investment report also revealed that apart from Nigeria, four other African countries, namely Angola, Eritrea, Lesotho and Togo, recorded negative FDI, at -$6.14 billion, -$32 million, -$8 million and -$227 million respectively.

FDI flows into the continent declined to $45 billion in 2022 from the record $80 billion set in 2021. It accounted for 3.5 percent of the global FDI.

In April, the National Bureau of Statistics reported that FDI into Nigeria fell by 33 percent to $468.91 million 2022, the lowest in at least nine years.

The International Monetary Fund cited central bank intervention in Nigeria’s foreign-exchange market as a hindrance to capital inflows.

The naira depreciated by 57 percent against the dollar in the official market during the eight-year tenure of President Muhammad Buhari, who handed over to Tinubu on May 29.

Muda Yusuf, chief executive officer of Centre for the Promotion of Private Enterprise, said the negative FDI was not surprising since the flow of investments into the country declined significantly because of the foreign exchange policy.

The reforms being implemented by the Tinubu government are expected to lure in investors back into the country.

“The recent steps at implementing critical reforms including the collapsing of the different exchange rate windows into the I&E window and adoption of ‘willing buyer and willing seller’ model are part of the positive steps to reversing the negative FDI trends,” Keripe of Afrinvest said.

According to Yusuf of CPPE, the Tinubu-led administration is already charting a new and positive course for the economy which portends bright prospects for recovery and growth.

“On the outlook for the second half of 2023, there are clear indications of elevated investors’ confidence, improvement in the government fiscal space, higher prospects of exchange rate stability in the near term, and positive expectations of better economic governance, ” he added.

Read also: CBN’s unsettled FX backlog puts investors on hold

Analysts at London-based Capital Economics said risk premia have fallen in Nigeria and some other African countries over the past month.

“In the region’s largest economy, Nigeria, that has come on the back of a marked policy shift since President Tinubu took office in late-May. Costly fuel subsidies have been removed and the naira has been devalued,” they said in a note.

“We are sceptical that this represents a full U-turn from ‘Buharinomics’ but, if the policy shift sticks, the balance of payments will be placed on a more sustainable footing,” they said. “Admittedly, there will be little boost to exports, as these are mainly oil, and imports may rise if FX restrictions are scaled back. But foreign investment should recover. The fall in risk premia suggests this may already be happening.”

megamillion

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Businessday.ng – https://businessday.ng/business-economy/article/first-negative-fdi-in-33yrs-piles-pressure-on-tinubu/

Tags: businessFirstnegative
Previous Post

FG’s 241% recurrent budget bump exposes bloated bureaucracy

Next Post

Why renowned gospel DJ Krowbar turned down a lucrative Sh7M deal

SunHydrogen Unveils Large Hydrogen Reactor in Houston – Fuel Cells Works

SunHydrogen Launches Groundbreaking Large-Scale Hydrogen Reactor in Houston

June 9, 2025
Coco Gauff Makes Request After French Open – Yahoo Sports

Coco Gauff’s Unexpected Request After French Open Exit

June 9, 2025
Alcaraz tops Sinner in a French Open final for the ages – Yahoo Sports

Alcaraz tops Sinner in a French Open final for the ages – Yahoo Sports

June 9, 2025

Ecology expands Washington state’s drought emergency – Columbia Basin Herald

June 9, 2025
Jane Goodall: ‘We must let local wisdom and science be ou… – observer.co.uk

Jane Goodall: ‘We must let local wisdom and science be ou… – observer.co.uk

June 9, 2025
Nanowires replace lost retinal cells – Science | AAAS

Nanowires Spark Breakthrough in Restoring Lost Retinal Cells and Vision

June 9, 2025
Cancer Daily Horoscope Today (June 21 – July 22) June 9, 2025: Lifestyle will improve! – India Today

Cancer Daily Horoscope for June 9, 2025: Get Ready for Exciting Lifestyle Changes!

June 9, 2025
Luka Mijatovic on Qualifying for World Champs: “I didn’t want to put any pressure on myself” – SwimSwam

Luka Mijatovic Opens Up on His World Championships Qualifying: “I Didn’t Want to Put Any Pressure on Myself

June 9, 2025
North America Creator Economy Market Size | CAGR of 19% – Market.us

North America’s Creator Economy Poised for Explosive 19% Growth

June 9, 2025

Three Trailblazing Women Celebrate Victory with Prestigious Frank Prize in Performing Arts

June 9, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (678)
  • Economy (692)
  • Entertainment (21,597)
  • General (15,293)
  • Health (9,734)
  • Lifestyle (696)
  • News (22,149)
  • People (693)
  • Politics (699)
  • Science (15,911)
  • Sports (21,195)
  • Technology (15,679)
  • World (677)

Recent News

SunHydrogen Unveils Large Hydrogen Reactor in Houston – Fuel Cells Works

SunHydrogen Launches Groundbreaking Large-Scale Hydrogen Reactor in Houston

June 9, 2025
Coco Gauff Makes Request After French Open – Yahoo Sports

Coco Gauff’s Unexpected Request After French Open Exit

June 9, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version