A global research and consultancy firm, Oxford Business Group, OBG, has said that despite many adverse developments in the country, Nigeria remains a key investment destination in Africa.
Speaking during the launch of its new report titled: “The Report: Nigeria 2017”, Editor-in-Chief, OBG, Mr. Oliver Cornock, stated: “Nigeria remains an appealing destination for investors and the fact that growth has begun to pick up following a slower period for the economy will provide the country with a welcome boost, as its efforts to develop and diversify the economy gains pace.”
According to him, the report explored planned moves to increase the emphasis on industrialisation and diversification while boosting capital inflow, which is helping to steer the country towards economic revival.
The report further explored some areas of the economy that have remained resilient in difficult times, such as agriculture, which has become a major employer and is benefiting from the relaxing of lending constraints, as well as developments in the ICT industry.
The report also examined the key part that a regulatory overhaul should play in helping to tackle the challenges that the sectors face ahead of the implementation of new infrastructure program, while analyzing the government’s far-reaching plans to modernise the country’s long-neglected public transport system. It considered both the opportunities that the project pipeline will signal for investors and the difficulties in bringing the private sector on board for ventures.