Concerned by the dwindling inflow of foreign direct investment (FDI) in Nigeria, the Association of Investment Advisers and Portfolio Managers (IAPM) has renewed commitments to showcase Nigeria to global investors as a chosen investment destination.
This was amplified at the 2021 Investment Advisers and Portfolio Managers’ conference themed ‘The Future of FDI to Africa: Building a Competitive and World Leading Finance Centre and the Role of Investment Advisers’.
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Speaking at the forum, IAPM President and Chairman of Council, Prince Abimbola Olashore, said many developing countries in Africa have made deliberate policies to attract Foreign Direct Investment (FDI) as an important element in their strategies to grow their economies.
The IAPM boss noted, however, that there has been a systematic decline in FDI to Nigeria since 2011, a year that witnessed the highest peak of $8.84 billion in FDI, adding that the first quarter of 2021 showed that FDI to Nigeria stood at $2.13bn.
Meanwhile, Olashore said the rationale of the forum was to address declining infrastructure and stimulate economic growth in Nigeria which he described as ripples of financial constraints.
He said: “For less developed countries to achieve their economic greatness, additional foreign capital to fund their economy is required.
