Nigeria’s Foreign Direct Investment (FDI) inflows fell from six billion dollars in 2009 to 2.3 billion dollars in 2010, a new United Nation report says.

The fall represents a 60.4 per cent decline. The latest UN Conference on Trade and Development (UNCTAD) Global Investment Trends Monitor (GITD) was released on Monday at the UN office in Geneva. The report notes that inflows into Africa, which peaked in 2008, is on the decline, despite an increase in developing and transition economies, which rose by 10 per cent in 2010.

“Estimates show that FDI inflows in the continent fell by 14 per cent to 50 billion dollars in 2010, although there are significant regional variations,” the report stated.