Policy Signalling, Key To Attracting FDIs Into Nigeria - Muda Yusuf

Proshare

Tuesday, August 06, 2019 / 6.50PM /  Ottoabasi Abasiekong for Proshare WebTV / Header Image Credit: WebTV

 

Policy signalling will be vital for Nigeria’s quest to increase its Foreign Direct Investment inflows in 2019 and beyond

 

The Director-General of the Lagos Chamber of Commerce and Industry Mr. Muda Yusuf disclosed this at a recent policy dialogue on the Nigerian economy and the opportunities in the African Continental Free Trade Agreement (AfCFTA).


Yusuf said that policy alignment between the fiscal and monetary authorities in the Nigerian economic framework, was important for investors to understand the direction of the nation’s economic philosophy.

 

He emphasized the fact that the current situation of discordant tunes in policy statements of the fiscal and monetary authorities in the country, must be addressed particularly as President Muhammadu Buhari is expected to inaugurate his cabinet later this month.

 

Yusuf stressed that policy signalling must bring clarity on Nigeria’s openness to trade and its willingness to create an enabling business environment.

 

Speaking further the LCCI DG called for efficiency in the economic management of the country, with the alignment of trade policies with reform objectives of the government.

 

A lack of policy alignment and poor policy signalling by the government according to him will impede key FDIs, that can be tapped in to boost economic growth in the nation.

 

According to the Nigerian Investment Promotion Council (NIPC), $15.15bn foreign direct investment, FDI, inflows came into the country in  H1, 2019.

 

Analysts are expectant that President Muhammadu Buhari’s new economic team will provide policy signals that will attract more FDIs to the economy.

 

Proshare Nigeria Pvt. Ltd.


Related News

1.         Weekly Economic and Financial Commentary – WE 02 August 2019

2.        PMI Reading No 76: Again Below Water

3.        Manufacturing PMI Stands at 57.6% in July 2019 from 57.4% in June 2019

4.        Exchange Rate Unification Dominates Discussion at the FDC’S Stakeholder Forum

5.        Nigeria Mid-Year Economic Review 2019 - Retrofitting the Nigerian Economy: Issues and Drivers

6.        AFCFTA: Stakeholders at FDC Forum Call For Coherence In FG Policies, Unified FX In Nigeria

7.        Weekly Economic and Financial Commentary – WE 26 July 2019

8.       Rethinking the National Social Intervention Program In Nigeria

9.        Africa Needs Long-Term Financing To Boost Industrialization - Prof. Nwokoma

10.    Inequality in Nigeria – Exploring The Drivers

11.     Weekly Economic and Financial Commentary – WE 19 July 2019

12.    Unlocking Liquidity Will Restore Growth and Stability for Nigeria – Ayo Teriba

13.    External Debt Service Under Control

 

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP