Ayo Akinfe
Nigeria's federal government needs to set them a foreign direct investment (FDI) target of about $5bn a year
All this diaspora investment needs to be protected by the Local Content Act, which guarantees duty-free access to the Nigerian economy
As a starting point, we should offer a tax holiday to all those...
DIASPORA remittances to low and middle income countries fell by 1.6% to $540bn last year from $548bn as a result of the impact of the coronavirus pandemic with Nigeria being mainly responsible for a 28% drop witnessed across Africa.
According to recent data from the World Bank, diaspora remittances fell by 27% year-on-year...
VICE president Professor Yemi Osinbajo has revealed that Nigeria needs to attract a minimum of N2.3trn ($6bn) in capital investment annually over the next 30 years if the nation wants to confront her infrastructural deficit problems.
Despite having a population of over 200m, Nigeria only has a gross domestic product (GDP) of...
Ayo Akinfe
(1) No matter how you cut it, the main responsibility for getting Nigeria out of her current economic morass lies with the Northern State Governors Forum (NSGF). It is not the federal government that is going to create local jobs, it is the state governments and I believe we need to keep up the pressure on the NSGF. We...
Ayo Akinfe
(1) Across Europe and North America, plans are in full swing to ease the Covid-19 restrictions this year. By my calculations, we will be back to normal by the summer
(2) In the UK in particular, it appears that the economy cannot sustain the lockdown for much longer anyway, so come what may, the restrictions will be...
Ayo Akinfe
(1) If you ask me, having Ngozi Okonjo-Iweala as the head of the World Trade Organisation (WTO) makes it imperative that Nigeria becomes a serious player in the global economy. It is highly embarrassing that Africa accounts for 18% of the world’s population by only 3% of its trade. It now falls to Nigeria to...
OVER two thirds of Nigeria's 36 states did not attract one dollar in foreign direct investment (FDI) during the course of 2020 as a new National Bureau of Statistics (NBS) survey shows that 26 of them were investment-free zones during the year.
A mono-economy wholly dependent on the sale of crude oil for her survival,...
NIGERIA suffered from a 50% drop in foreign direct investment (FDI) during the course of 2020 as capital inflows plummeted to a meagre $9.68bn representing a four year low according to figures just published by the National Bureau of Statistics (NBS).
Due to the debilitating effects of the coronavirus pandemic, global...
Ayo Akinfe
(1) Top marks to President Biden for hitting the ground running with his economic stimulus plan on day one. It is very impressive and shows he was ready for office long before he was sworn-in
(2) I fully expect the US Congress to pass his economic stimulus bill. Reading through the proposals, it is clear that if you...
NIGERIA only attracted 4% of the $75bn foreign direct investment (FDI) ploughed into Africa's oil and gas sectors during the four year period between 2015 and 2019 according to the Lagos Chamber of Commerce and Industry (LCCI).
Despite being Africa's oil and gas producer and the sixth biggest crude oil exporter in the world,...
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