Oil, gas investment drives Nigeria’s FDI flows to $3.4bn in 2019

Bailey Oluwabunmi May 18, 2020

Downstream sector — Trafigura Beheer BV, the world’s third-largest independent oil trader, will from next year disclose some payments to foreign governments after joining a programme to promote transparency.

Africa’s biggest economy attracted $3.4 billion worth of Foreign Direct Investment (FDI) in 2019, buoyed by patient capital flows to the oil and gas sector, the country’s most critical sector. This is after FDI flows plunged to 13-year low in the preceding year, making the country to be overthrown by its smaller neighbour, Ghana, as…

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