03 November 2017, Sweetcrude, Port Harcourt – Capital inflow into the country has almost doubled from $908 million in the first quarter to $1.8 billion in second quarter 2017, the Senior Special Assistant to the President on Trade and Investment, Dr. Jumoke Oduwole, has revealed.
Oduwole stated this in a speech at a public sensitisation programme organised by the Corporate Affairs Commission, CAC, in Port Harcourt.
Oduwole, who is also the Secretary, Presidential Enabling Business Environment Council, PEBEC, disclosed that Nigeria now ranks 145 on the World Bank’s Ease of Doing Business index compared to its ranking in 169th position in last year’s rating.
“The Federal Government is working hard to implement economic recovery plan and to improve macro economic conditions, inflation rate has declined from 18.5percent in January to 16 percent in September 2017.
“It is indeed gratifying to note that investors are showing a clear sign of renewed interest in the Nigerian economy, for instance, the stock market has rallied about 36percent since the beginning of the year till date.
“Between January and August 2017, about $22.42billion worth of investment has been announced in 31projects across 22 states.
“Capital inflow into the country has almost doubled from $908million in the first quarter to $1.8billion in second quarter of 2017,” she said.
Earlier in her speech, the Acting Registrar-General of CAC, Mrs. Azuka Azinge, announced that registration and incorporation of companies, business names and incorporated trustees with the Commission now takes only one day.
Azinge also said that eight states are now registering business entities online from start-to-finish, while additional 10 states would also be upgraded to carry out online registration before the end of 2017, in line with the Federal Government’s ease of doing business drive.