NIGERIA 20 BILLION DOLLARS RICH IN FOREIGN DIRECT INVESTMENT SAYS OKONJO-IWEALA

Co-ordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala, yesterday, revealed that total Foreign Direct Investment (FDI) to Nigeria in the last three years, grew to US$20 billion. Speaking at the World Press launch in Abuja, to announce the hosting by Nigeria, of the 24th World Economic Forum on Africa, billed to hold between May 7 and 9, 2014, the Minister said that although Nigeria remains the largest recipient of FDI in Africa, she still needs more assistance. Against this backdrop, she said, the forum which has the theme: “Forging Inclusive Growth, Creating Jobs”, would bring the much-needed employment to the nation’s teeming youths. “We recognise the challenge we face in converting the vast human and natural resources we have into broad economic prosperity and improvement of standard of living through job creation.  With the whole economic and political world focused on Nigeria during the meeting, it places enormous responsibilities on the country. No lie about that because I need to understand how we are 20 billion dollars rich in foreign investments yet we have to borrow money from the World Bank and the UN to improve the standards of living of our citizens. Different national agencies and associations go on strike at random all because they are demanding their salaries yet we are rich in foreign investments…smh