{"id":27955,"date":"2021-02-08T17:46:57","date_gmt":"2021-02-08T16:46:57","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=27955"},"modified":"2021-10-07T00:24:06","modified_gmt":"2021-10-07T00:24:06","slug":"neca-predicts-low-foreign-direct-investment-capital-importation","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/neca-predicts-low-foreign-direct-investment-capital-importation\/","title":{"rendered":"NECA predicts low foreign direct investment, capital Importation"},"content":{"rendered":"<p>By Tanko Mohammed<\/p>\n\n\n<p>The Nigeria Employers\u2019 Consultative Association (NECA) says Foreign Direct Investment (FDI) and Capital Importation will remain low till the third quarter of 2021.<\/p>\n\n\n<p>Its Director-General, Dr Timothy Olawale, made this known in a statement in Lagos, quoting the latest capital importation report released by the National Bureau of Statistics.<\/p>\n\n\n<p>Olawale said Nigeria only received the sum of 9.68 billion dollars from capital inflows in 2020, as against 23.99 billion dollars received in 2019.<\/p>\n\n\n<p>He said in the report, the inflow of 9.68 billion dollars represents 59.6 per cent decline when compared to 23.99 billion dollars recorded in 2019 and 42.4 per cent reduction compared to 16.81 billion dollars&nbsp; recorded in 2018.<\/p>\n\n\n<p>\u201cThis low rate of FDI and Capital Importation is likely to continue till Q3:2021, \u201d the NECA director-general said.<\/p>\n\n\n<p>Olawale said some of the factors responsible for low rate included,&nbsp; poor investment climate characterised by overly stringent government policies, bureaucratic bottlenecks for securing permits and a weak legal framework.<\/p>\n\n\n<p>Others, according to him, include the prolonged state of insecurity in the country; lack of economic diversification, and the nation\u2019s huge infrastructure deficit.<\/p>\n\n\n<p>\u201cAdditionally, uncertainty around the COVID-19 pandemic\u2019s evolution and the global investment policy environment will continue to affect FDI inflows globally in 2021.<\/p>\n\n\n<p>\u201cFor developing countries such as Nigeria, the prospects for this year are a major concern.<\/p>\n\n\n<p>\u201cTraditionally, capital importation or FDI will flow to areas or countries where there are guarantees of return on investment.<\/p>\n\n\n<p>\u201cThus, an environment like Nigeria without much guarantees will naturally be a disincentive to investors,\u201d Olawale said.<\/p>\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-27955\" data-postid=\"27955\" class=\"themify_builder_content themify_builder_content-27955 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>By Tanko Mohammed The Nigeria Employers\u2019 Consultative Association (NECA) says Foreign Direct Investment (FDI) and Capital Importation will remain low till the third quarter of 2021. Its Director-General, Dr Timothy Olawale, made this known in a statement in Lagos, quoting the latest capital importation report released by the National Bureau of Statistics. Olawale said Nigeria [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6025,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125,126],"tags":[66],"class_list":["post-27955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","category-trade-and-industry","tag-investment","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NECA predicts low foreign direct investment, capital Importation - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/neca-predicts-low-foreign-direct-investment-capital-importation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NECA predicts low foreign direct investment, capital Importation - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"By Tanko Mohammed The Nigeria Employers\u2019 Consultative Association (NECA) says Foreign Direct Investment (FDI) and Capital Importation will remain low till the third quarter of 2021. 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