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Nigeria now first consideration for FDIs, Finance Minister, Edun claims



Positive response to the economic reform measures undertaken by the administration of President Bola Tinubu has turned Nigeria into the first consideration for Foreign Direct Investment (FDI), the Minister of Finance and Coordinating Minister of the Economy, Wale Edun has said.

The Minister stated this while briefing the press on highlights of Nigeria’s participation in the just concluded Annual Meetings of the World Bank/International Monetary Fund, IMF, in Marrakesh, Morocco.

It would be recalled that during the weeklong meetings, the World Bank and IMF commended the decision of the FG to remove fuel subsidy, unify exchange rates in the official forex market as well as the removal of foreign exchange restrictions on 43 items.

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As a result of these commendations, Edun said Nigeria is now at the forefront of consideration for foreign investment in the international community.

He said: “There have been many conversations and as I said earlier, the narrative is that with the bold courageous steps that Nigeria has taken, the narrative is that we are now at the forefront, almost number one on people’s list when they want to look at where to invest.

“That is the narratives and I am sure if you have been around through this week, you would have picked it up. There is more to be done but Nigeria is definitely on the right path, that we have taken the right decision for the economy to recover and for it to attract foreign direct investment and as well I will add domestic investment in order to recover full economic growth, job creation and at the same time achieve inclusivity of women and young people.

“That is the opportunity we have had, not so much to stand in front of people and showcase but that they get the opportunity within this environment to understand even more clearly what has been done.”

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