Photo Credit: Woye/X

US Deputy Secretary of Treasury, Wally Adeyemo, has emphasized that Nigeria must enhance its macroeconomic framework to attract increased dollar-denominated foreign direct investments (FDI).

Adeyemo highlighted the necessity for the government to establish a robust macroeconomic framework that underscores its commitment to economic fundamentals. This proactive measure is crucial in drawing foreign investors to Nigeria, fostering economic growth in the country.

These insights were shared by Adeyemo during a recent forum at the Lagos Business School (LBS), where he engaged with business leaders in Lagos.

Adeyemo, while discussing the US-Nigeria Economic Relationship, commended the government for its initial efforts in fiscal policy and exchange rate unification.

He stated, “Nigeria currently lacks the macroeconomic framework necessary to attract foreign direct investments, especially those denominated in dollars. While the government has taken commendable steps in fiscal policy and exchange rate unification, more comprehensive actions are required. As global companies gain confidence in Nigeria’s approach, the country can expect to become a prime destination for FDI.”