The Senior Vice President of the Africa Finance Corporation (AFC), Mr Fola Fagbule, on Tuesday said that Nigeria ranked high as a destination for foreign direct investment.
Fagbule who is the Head of Financial Advisory of AFC, spoke during a plenary session in the 2022 Law Week of Lagos Branch of the Nigerian Bar Association (NBA).
The event, which began on Friday, is taking place at the Civic Centre, Lagos.
The News Agency of Nigeria reports that the law week had the theme: “Democracy and Legal Order Shaping the Future”.
The plenary session was on: “Arise Sleeping Giant : Unlocking Nigeria’s Potential as an Investment Destination”.
Responding to a question on how Nigeria has fared as an investment destination, Fagbule said that the nation had done well but can do better.
“Nigeria is still one of the top 10 destinations for foreign direct investment into Africa despite various challenges facing it,” he said.
Fagbule said that what Nigerians should be concerned about was whether the country was doing enough.
He said that the country still had more investment opportunities to explore.
“If you think of the massive opportunities, then you find that Nigeria needs to do more.
“Nigeria has not done bad in attracting foreign investment, but there is still a lot that can be done,” he said.
Fagbule noted that inflation and insecurity were among hindrances to the country, and urged that they should be addressed to enhance Nigeria’s investment opportunities.
“It requires us to be re-organised, more stable and predictable in terms of our regulations.
“Nigeria had projected to the world in times past, a very stable micro economic future; we can do that again,” he said.
The law week started on March 18 with a Juma’at service.
