FOREIGN DIRECT INVESTMENTS WITHDRAWAL WILL CONTINUE IN NIGERIA, SAYS ECONOMIST INTELLIGENCE UNIT
Written by Olakunle Oke on March 14, 2024
An international business research firm, the Economist Intelligence Unit (EIU), has declared that indigenous oil companies acquiring the assets of divesting international oil companies will not be able to match their investing power.
The EIU, in its latest Country Report on Nigeria, observed that the indigenous companies would not have the same financial power to invest as the multinationals, who had been the major drivers of the Nigerian oil industry since its inception.
It feared that there might be a net withdrawal of foreign direct investment in 2024, as it happened in the previous year.
Source: Jordan 105.5fm News Bulletin
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