With China Cutting Back On Its Borrowing, President Buhari Needs To Set Very Ambitious FDI Targets For 2021

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  1. Food processing – $20bn
  2. Railways – $15bn
  3. Power generation – $10bn
  4. Automobile assembly plants – $10bn
  5. Steel production – $5bn
  6. Solid mineral processing plants – $5bn
  7. Pharmaceuticals – $5bn
  8. Leather processing – $5bn
  9. Green energy – $5bn
  10. Cosmetics and beauty products – $5bn
If we can attract $85bn in Foreign Direct Investment (FDI) in 2021 and then get domestic industrialists to invest a further $15bn in the economy, we should be fine. As things stand today, we are facing a crisis because Chinese overseas investment is slowing down and the Nigerian state no longer has the cash to take out stakes in commercial ventures.

Something simply has to give or Nigeria will collapse beneath our feet. President Buhari has to attract about $85bn worth of investment if he wants to take 90m people out of poverty and end our designation as the poverty capital of the world.

By my calculations, about 30m sustainable and remunerative new jobs must be created to end the current scourge of terrorism, kidnapping, armed robbery, banditry, etc. I would like to see the masterplan.

With China Cutting Back On Its Borrowing, President Buhari Needs To Set Very Ambitious FDI Targets For 2021

Written by:

Ayo Akinfe, born in Salford, Manchester, is a London-based journalist who has worked as a magazine and newspaper editor for the last 20 years. Ayo attended Federal Government College Kaduna and obtained his first degree in history from the University of Ibadan.

Read Also:  November 2018 FGN Savings Bond Offer for Subscription
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