Anambra State Governor Chukwuma Soludo has expressed concern over the insufficient inflow of Foreign Direct Investments (FDI) into Nigeria, indicating that the nation is not maximizing its potential on both the African continent and the global stage.
Speaking at the 1st Abuja Business and Investment Summit on Wednesday, Soludo pointed out the troubling trend of negative returns on capital in Nigeria. “Coincidentally, we had a table here showing the charts as to where Nigeria is relative to the rest of the world in terms of inflation and interest rate regimes, so to speak. In many places, you have real returns to capital, but we still have negative returns right here.”
He emphasized the global landscape of investment flows, noting that “the flows of Foreign Direct Investments across the world mostly toward Asia, and Africa received, for example, barely 3-4 percent of it last year.” According to Soludo, Nigeria is “grossly punching below its weight” in terms of attracting both portfolio and Foreign Direct Investment when compared to its population and economic size.
