Investment

United States Firms Operating in Nigeria Plans to Invest $2.4 Billion in Nigeria – Report

United States Firms Operating in Nigeria Plans to Invest $2.4 Billion in Nigeria – Report

A report compiled by the American Business Council, the United States Embassy, Verraki, KPMG and PwC showed American firms operating in Nigeria plans to invest $2.37 billion in the country in the next three years.

In the 2020 Nigeria Economic Impact Survey, the impact of US firms on the Nigerian economy was analysed while changes in business revenue, foreign investment, job creation, gross value added and plans for expansion were measured.

45 United States companies operating in Nigeria were surveyed and data obtained analysed, according to the report.

The report revealed that US companies in Nigeria created over 30,000 indirect jobs in 2019, a decline from three million in 2018 and over 13,100 direct jobs, down from 18,000 in 2018.

The firms realised N1.08 trillion in revenue in 2019, representing a decline from N1.47 trillion when compared to N1.47 trillion generated in 2018.
Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya
4 years ago

Recent Posts

Diaspora Nigerians Drive Economic Growth with $90 Billion in Remittances Over Five Years

Investors King has gathered that the Chairman of the Nigerians in Diaspora Commission (NIDCOM), Dr.…

24 minutes ago

Naijaonpoint.com: A Growing Concern Over Plagiarism Allegations

In recent months, Naijaonpoint.com has come under scrutiny following allegations of unauthorized use of content…

3 hours ago

Centralise Regulation for our Industry, E-hailing Drivers Urges FG

In a bid to bolster the interest of drivers in the country, E-hailing drivers, under…

4 days ago

Felicia Obozuwa Takes on Key Role as FCMB Executive Director, Corporate Services

First City Monument Bank (FCMB) has announced the appointment of Felicia Obozuwa as its Executive…

4 days ago

Equities Market Sheds N931 Billion as 40 Stocks Decline in Another Bearish Session

The Nigerian equities market extended its losing streak for the fourth consecutive session Wednesday with…

4 days ago

70 Million Poorest of The Poor Nigerians To Get N75,000 From FG

Notwithstanding that the Federal Government's efforts to distribute cash to poor Nigerians have failed in…

4 days ago