Suggestions




·

FDI Is Useless Without Educated Workforce, Infrastructure, Says Moghalu

September 20, 2021
by

FORMER Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu has told the Federal Government that Foreign Direct Investment(FDI)cannot cause economic growth and development without a well-educated workforce and infrastructure.

Prof. Kingsley Moghalu who delivered the keynote at the United States-Nigerian Investment Summit on the 18th of Sept, 2021, reiterated that FDI can contribute to real economic growth and generate employment where investment flow serves the strategic national interest.

Join our WhatsApp Channel

He said, “I believe, actually, that making FDI work for Nigeria can be a big win-win for both Nigeria and the foreign investors.”

“Nigeria as a country of the significant potential for FDI, has a weak macroeconomic environment, policy inconsistency and absence of a well-defined strategy which is affecting economic growth strategy.” He also added.

Moghalu also explained that foreign investments can help lift a country from poverty if it is targeted at the real economy, for instance, electricity, manufacturing, service industries, and export-oriented industries, and uses local suppliers, as opposed to a lopsided focus on extraction industries.

The former governor eventually emphasised that for FDI to successfully contribute to real development in a country like Nigeria, two things are important – the presence of a well-educated workforce and infrastructure.

+ posts

Kayode Shopekan

Edo State Partners With Agencies To Tackle Unemployment, Irregular Migration
Previous Story

Edo State Partners With Agencies To Tackle Unemployment, Irregular Migration

Lawyers Shut Down Courts, Protest Killing Of Spokesman
Next Story

Breaking: Lawyers Shut Down Courts, Protest Killing Of Spokesman

Featured Stories

Latest from Finance & Economy

Nigeria, AFC Sign $1.3 Billion Deal to Transform Mining Sector

The Federal Government of Nigeria, through the Solid Minerals Development Fund (SMDF), has signed a landmark $1.3 billion investment partnership with the Africa Finance Corporation (AFC) to co-finance strategic initiatives aimed at repositioning the nation’s mining sector and deepening its contribution to
Nigeria,s GDP

Nigeria’s GDP Grows by 4.07% in Q4 2025 – NBS

Nigeria’s Gross Domestic Product (GDP) expanded by 4.07 per cent year-on-year in real terms in the fourth quarter of 2025, according to the latest report released by the National Bureau of Statistics (NBS). The growth rate is higher than the 3.76 per
Edo State Partners With Agencies To Tackle Unemployment, Irregular Migration
Previous Story

Edo State Partners With Agencies To Tackle Unemployment, Irregular Migration

Lawyers Shut Down Courts, Protest Killing Of Spokesman
Next Story

Breaking: Lawyers Shut Down Courts, Protest Killing Of Spokesman

Don't Miss

Nigerian Referees x e scaled e x

Nigerian Referees Get FIFA Recognition For 2024

Nigerian referees have been given recognition by the world football
Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 1st July 2025

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 12th November 2024

What is the Dollar to Naira Exchange rate at the