Committee
ECOSOC
Country
Nigeria

Author

Ayu Isnaeni
Indonesia

Cite as https://mymun.com/ppdb/18620

Committee: ECOSOC

Country: Nigeria

Delegate: Ayu Isnaeni, Diponegoro University

Topic: Foreign Direct Investment and Sovereignty in Africa

Nigeria is the third host economy for FDI in Africa, behind Egypt and Ethiopia. The country is among the most promising pole of growth in Africa and attracts numerous investors in the sector of hydrocarbon, energy, buildings etc. The country undergoes the effects of the oil counter-shock.

According to FDI data, Nigeria has the increasing amount of foreign corporations 438.84 USD Million in the third quarter of 2018. It is because, in the international economy field, Nigeria is one of the party that join African Growth and Opportunity Act (AGOA), which is a US trade act that grants products from 40 sub-Saharan African countries (including Nigeria) duty-free access to the US market. Beside that we also signed a Joint Declaration on Cooperation with the European Free Trade Area (EFTA) on 12 December 2017 in Buenos Aires, on the margins of the 11th WTO Ministerial Conference. This Declaration sets the framework for Nigerian trade agreements with EFTA states.

In the field of FDI, we focus on our invertors’ attractiveness in many sectors. One of them is oil sector. Processed oil products like condensates and lubricants earned another N535.8 billion, or US$ 1.75 billion, contributing 11.4% to export...

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