Investment Attractiveness and External Competitiveness of the Nigerian Economy

Abstract

The article examines the degree of Nigeria’s attractiveness for foreign investors. The paper highlights the main problems that the latter face when they enter the Nigerian investment market. Those issues have acquired particular relevance in connection with Nigeria’s assuming a new economic role – since 2014 the country has become the largest economy on the African continent, surpassing that of South Africa. Great efforts are made in the country to achieve the role of the economic “locomotive” of the continent. At the same time, the strengthening of economic positions is turning the country into a regional power, which attracts special attention not only from African, but also from overseas players. The article examines the investment capacity of the Nigerian market, the availability of credit, the susceptibility to innovation and new technologies. At the same time, specific “bottlenecks” have been identified that reduce Nigeria’s external investment competitiveness, such as its underdeveloped infrastructure, electricity supply problems, crime, corruption, and others.