Nigeria is in a hot chase to triple foreign direct investment, FDI which is presently put at $3 billion. The minister of trade and investment Olusegun Aganga has said that we can accomplish this by promoting Nigeria as an attractive destination of investment and quality of life.

Foreign direct investment have gained traction in recent years as a result of the failure of state enterprises and state enterprises’ low productivity which have led to the privatization of these firms, turning them to privately-owned. While in the past, colonized countries and their new independent governments believed that foreign investment, foreign ownership of production, was neocolonialism, a continuation of colonialism in economic form, nationalizing these foreign- owned industry have not yielded the desired fruits.
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