• Saturday, May 18, 2024
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US foreign investment in Nigeria increases to $8bn


The United States (US) foreign direct investment flow into Nigeria has increased from $5.2 billion in 2000 to $8 billion in 2012.

The Nigeria ambassador to the U.S, Ade Adefuye, made this known during a presentation on investment promotion strategies at the regional seminar for Heads of Missions in the Americas held in New York.

According to him, the country has also witnessed a diversification of investments from the oil and gas sector to other key non oil sectors.

He identified the sectors to include power, energy, agriculture, hospitality, housing, and healthcare, among others.

The envoy said that Nigeria had witnessed a great deal of inflow of foreign direct capital into Nigeria’s agricultural sector under the platform of the Nigerian/U.S Bi-National Commission (BNC) working group.