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International Business Times
International Business Times
Business
Leslie FAUVEL

Economic Outlook Keeps Investors Wary On Nigeria

A fall in the value of the Naira is just one issue making foreign investors wary of investing in Nigeria (Credit: AFP)

Record inflation, a sliding naira currency and weak financial structure are keeping investors wary of Nigeria, Africa's largest economy, with some companies even stepping away despite economic reforms under recently-elected President Bola Ahmed Tinubu.

Tinubu, who took office last May, has repeatedly called for patience to allow his reforms to take effect after ending a fuel subsidy and freeing up the naira currency -- policies the government says will bring more foreign investment despite the short-term austerity they cause.

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