Insecurity dropping Nigeria from preferred investment destinations in Africa —Trade Minister, Adebayo

The Minister of Trade and Investment, Otunba Niyi Adebayo has said the prevailing insecurity in Nigeria was responsible for the country’s fall from the top 10 preferred investment destinations in Africa.

Adebayo said this on Thursday at a ministerial press briefing organised by the Presidential Communication Team at the Presidential Villa, Abuja.

The Minister, however, noted that the Federal Government was taking the necessary steps to return the country to its position as the most preferred investment destination in the continent.

It would be recalled that a report emerged early this week showing that Nigeria dropped to number 14 on the list of top investment destinations in Africa, with Egypt topping the list.

Adebayo maintained that the reasons for the decline revolved around the surmounting security problem ravaging the country.

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However, he noted that from recent feedback that he got from foreign governments, the nation’s position was getting better due to renewed interests in investing in Nigeria.

“So, I’m sure as time goes on, we will begin to see an improvement in that situation,” he added.

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