The federal government has blamed the prevailing insecurity in the country for the nation’s fall from the top 10 of preferred investment destinations in Africa.
A report emerged this week showing that Nigeria dropped to 14 as Egypt continues to top Africa’s investment destinations in a ranking carried out by RMB, a division of FirstRand Bank Limited.
Reacting to the development Thursday at a news briefing at the State House, Abuja, Minister of Trade and Investment, Otunba Niyi Adebayo, said several factors including the level of insecurity were responsible for the drop in Nigeria’s rating.
Commenting on what is responsible for the fall, the Minister said: “the reasons for that are various, the major line being the security problem that we have in the country.
“You are well aware, the federal government is making every effort to resolve the security problem so that we will go back to the position of being the preferred investment destination”.
(THISDAY)
