FDI to Africa to hit $57.5m in 2017 – Osinbajo

By Adeola Tukuru


Vice President Yemi Osinbajo has disclosed that the Foreign Direct Investment to Africa stood at $56.2 million and is expected to hit $57.5 million by end 2017.
Prof Osinbajo, stated this yesterday at the High level policy and private sector trade and investment facilitation partnership forum in Abuja, hosted by the Minister for Industry, Trade and Investment, Dr Okechukwu Enelamah.
According to him, African economies are performing better than the global average, adding that just recently the World Bank announced that Africa largest economy has moved up to 24 in world ranking ease of doing business.
“Africa was declared on of the top 10 performing economies in the world which shows that 34 out 40 countries in the sub-Sahara Africa as at least one business regulatory reform in the business previous year,” he said.
According to him, resource dependency is no longer the fund raiser for growth but Trade and Investment adding that Africa economies are doing better than ever before despite difficult global economic environment.
Earlier, the Minister for Industry, Trade and Investment, Nigeria, Okechukwu Enelamah, explained that the vision for the forum is to announce to the world that, indeed, Nigeria and all the nation’s of Africa ate open for business.
“We hope that from this foruk,good personal, professional and inter- governmental friendships will be formed and enhanced such that we can all reap the benefits of mutual cooperation, equity, economic growth and prosperity ”
“We are honoured to host such a strategic and mutually beneficial event at the time when Nigeria, in particular and Africa in general is seeking not only to develop her trade economic potential, but also to correct the imbalances of the past and forge better, stronger regional, continental and international partnerships,” he said.


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