Economy
Nigeria Missing in Top 10 Safest Countries for Foreign Investment List
By Dipo Olowookere
A new report which listed the Top 10 Safest Countries for Foreign Investment has excluded Nigeria despite the efforts of the administration of President Bola Tinubu to make the country the preferred place to do business.
Since assuming office on May 29, 2023, Mr Tinubu has carried out some economic reforms aimed to attract investors to Nigeria, including the liberalisation of the foreign exchange (FX) market, removal of petrol subsidy, and streamlining the tax regime, among others.
In a recent study by Atmos, top 30 countries were identified based on economic stability, investment attractiveness, and political and economic stability.
In the outcome of the research made available to Business Post on Monday, it was stated that countries were evaluated using six metrics: economic stability rank, political stability score, global peace index, investment attractiveness, foreign direct investments (FDI), and GDP per capita. These metrics were ranked, with the top country receiving a score of 100.
“When evaluating investment potential, it’s clear that economic strength alone doesn’t paint the full picture.
“Political stability and a peaceful environment are equally essential in fostering a climate that attracts long-term investment. Investors are drawn to countries where risks are minimized and confidence in future growth is high, making these factors just as critical to a nation’s financial appeal,” the chief executive of Atmos, Mr Nick Cooke, stated.
Switzerland led the ranking as the lowest risk country to invest in, with a score of 100. It featured exceptional economic fundamentals and the highest GDP per capita among the top-ranked countries at nearly $100,000. Switzerland demonstrates balance across all metrics, ranking 2nd in economic stability while maintaining excellent political stability (1.07) and peace index scores (1.33).
Singapore followed in 2nd with a score of 90.21, standing out with the highest investment attractiveness (82.4) among the top three nations and exceptional foreign direct investment inflows of over $175 million, outperforming Switzerland in this metric. The city-state’s strategic position in Southeast Asia, combined with its second-place economic stability ranking, creates a powerful investment hub. Singapore’s global peace index of 1.3 is the best among all ranked countries, reflecting its excellent security environment.
The third of the list was Canada with a score of 89.53, demonstrating exceptional investment attractiveness (86.6) and solid political stability (0.82). Canada’s balanced approach to foreign investment has resulted in substantial foreign direct investment (FDI) inflows exceeding $47 million, positioning it as a reliable North American investment alternative. The country maintains strong economic fundamentals, offering a reasonable GDP per capita of $53,431.
Japan ranked 4th with a score of 88.77, featuring the highest investment attractiveness score (86.8) among all countries in the index. The Asian country has an excellent political stability (0.951) and a strong peace index rating (1.33), creating a secure environment for foreign capital. Despite having a lower GDP per capita than other top-five nations at $33,766, Japan’s economic resilience and technological innovation continue to attract nearly $20 million in foreign investments.
The 5th place was occupied by Germany with a score of 86.32. As Europe’s largest economy, Germany maintains excellent economic stability (ranked 3rd), following Switzerland and Singapore, and a strong investment attractiveness (84.6). With GDP per capita exceeding $54K and foreign direct investments approaching $20 million, Germany represents the centerpiece of European investment security.
Denmark is the 6th-lowest risk country to invest in, with a score of 84.38, featuring an impressive GDP per capita of $68,453 and excellent political stability (0.85). Denmark’s peace index of 1.3 places it among the safest nations globally, though its relatively modest FDI figures of $4.5 million reflect its smaller market size. The Nordic nations’ consistent economic policies and transparent business environment remain key strengths for investors seeking stability.
In the 7th, Australia scored 84.08, balancing strong political stability (0.921) with excellent investment attractiveness (81.9). Australia has attracted substantial foreign direct investments exceeding $32.5 million, second only to Singapore among the top ten countries. Australia has attracted $32.5 million in foreign investments, substantially higher than Denmark and second only to Singapore. It also offers a GDP per capita of $64,820 with a relatively stronger peace index (1.525) compared to several preceding countries.
Norway was in 8th with a score of 82.44. With the second-highest GDP per capita at $87,925, Norway only trails Switzerland in this metric. It maintains solid political stability (0.89) and investment attractiveness (78.8), though its economic stability rank (11th) is the lowest among the top ten countries. The Nordic nation has attracted over $10.7 million in foreign investments despite its relatively small market size.
The United Arab Emirates took the 9th position with a score of 80.71, claiming the top position in economic stability among all countries in the index. The UAE combines this economic strength with moderate political stability (0.681) and substantial foreign investments exceeding $22.3 million. At the same time, its relatively weaker peace index score (1.979) and lower investment attractiveness (59.6) compared to other top nations prevent a higher overall ranking.
The 10th spot was grabbed by New Zealand with a score of 76.96, featuring excellent peace index ratings (1.31) but faces challenges with its economic stability ranking (18th) and modest foreign investment inflows of $3.59 million. The country’s investment attractiveness score of 63.0 is significantly lower than that of other top-ranked nations, reflecting its geographical isolation and smaller market size.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its stay in the south territory with a decline of 0.56 per cent on Wednesday, April 2.
This brought down the market capitalisation by N13 billion to N2.417 trillion from N2.430 trillion, and downed the NASD Unlisted Security Index (NSI) by 22.57 points to 4,062.87 points from the previous session’s 4,062.87 points.
It was observed that the NASD exchange ended with three price gainers and three price losers during the trading day.
MRS Oil Plc depreciated by N19.00 to close at N171.00 per unit compared with the previous price of N190.00 per unit, NASD Plc lost N4.14 to trade at N37.36 per share compared with Wednesday’s N41.50 per share, and Central Securities Clearing System (CSCS) Plc gave up N2.00 to sell at N78.00 per unit versus N80.00 per unit.
On the flip side, FrieslandCampina Wamco Nigeria Plc appreciated by 19 Kobo to N93.00 per share from N92.81 per share, Food Concepts Plc expanded by 15 Kobo to N2.87 per unit from N2.72 per unit, and Great Nigeria Insurance (GNI) Plc improved by 2 Kobo to 52 Kobo per share from 50 Kobo per share.
Yesterday, the volume of securities dipped by 91.8 per cent to 260.2 million units from 3.2 billion units, the value of securities went down by 98.1 per cent to N154.2 million from N8.3 billion, while the number of deals soared by 53.3 per cent to 46 deals from 30 deals.
GNI Plc was the most active stock by value on a year-to-date basis with 3.4 billion units worth N8.4 billion, followed by CSCS Plc with 56.9 million units valued at N3.9 billion, and Okitipupa Plc with 27.5 million units traded for N1.8 billion.
The most traded stock by volume on a year-to-date basis was also GNI Plc with 3.4 billion units sold for N8.2 billion, trailed by Resourcery Plc with 1.1 billion units exchanged for N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units transacted for N1.2 billion.
By Adedapo Adesanya
The Naira dropped N2.09 or 0.15 per cent against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Thursday, April 2, to trade at N1,380.79/$1 compared with Wednesday’s rate of N1,378.70/$1.
However, it appreciated against the Pound Sterling in the official market by N2.77 to quote at N1,824.86/£1 versus the N1,836.57/£1 it was traded at midweek, and improved its value against the Euro by N10.54 to N1,591.92/€1 from N1,602.46/€1.
Yesterday was the last trading session of the week for the local currency in the spot market, as the market will be closed on Friday and Monday for the Easter Holiday.
At the black market, the Nigerian Naira maintained stability against the greenback yesterday at N1,405/$1, but gained N8 at the GTBank FX counter to settle at N1,388/$1, in contrast to the previous session’s N1,396/$1.
Pressure eased on the domestic currency as strong policy indicators have helped calm the majority of worries within the financial systems. Particularly in the remittance segment, the apex bank has directed all International Money Transfer Operators (IMTOs) to route remittance transactions through designated Naira settlement accounts in banks, a move aimed at boosting transparency and channelling more foreign exchange into the formal market.
This helps take off pressure from the foreign reserves, which have fallen below the $50 billion mark as they are gradually decreasing rather than falling sharply.
Meanwhile, the cryptocurrency market was bullish on Thursday, as macro sentiment shifted against recent optimism after reports that Iran is drafting a protocol with Oman to manage traffic through the Strait of Hormuz, easing concerns about disruptions to a key global oil route.
The remarks came after U.S. President Trump on Wednesday night vowed to hit Iran “extremely hard” in the coming weeks and that the Strait of Hormuz would “open naturally” once the war ends.
Cardano (ADA) chalked up 1.9 per cent to trade at $0.2435, Dogecoin (DOGE) grew by 1.2 per cent to $0.0912, Ethereum (ETH) appreciated by 0.8 per cent to $2,066.37, Bitcoin (BTC) added 0.5 per cent to sell at $67,080.53, Solana (SOL) increased by 0.5 per cent to $79.91, and Ripple (XRP) jumped 0.2 per cent to $1.31.
Conversely, Binance Coin (BNB) dipped 0.7 per cent to $586.90, and TRON (TRX) depreciated by 0.3 per cent to $0.3147, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
By Dipo Olowookere
The local stock market was relatively flat on Friday, as the bears and the bulls shared the spoils of war, though investor sentiment turned bullish compared with the preceding session’s bearish posture.
Data from the Nigerian Exchange (NGX) Limited showed that the All-Share Index (ASI) was marginally down by 4.66 points as it ended at 201,698.89 points versus Wednesday’s 201,703.55 points, and the market capitalisation slightly contracted by N3 billion to N129.806 trillion from N129.809 trillion.
Customs Street was shut on Friday because of the public holidays declared by the federal government today and next Monday.
Business Post reports that John Holt declined by 9.91 per cent to N15.45, Abbey Mortgage Bank shed 9.60 per cent to trade at N8.95, International Energy Insurance slipped by 6.48 per cent to N3.32, Chams shrank by 5.30 per cent to N3.75, and Tantalizers depreciated by 5.18 per cent to N4.03.
On the flip side, Unilever Nigeria improved by 10.00 per cent to N103.40, Fortis Global Insurance gained 9.82 per cent to trade at N1.23, Multiverse appreciated 9.81 per cent to N20.15, Legend Internet advanced by 9.38 per cent to N6.30, and Zichis grew by 9.02 per cent to N14.14.
The market breadth index was positive during the trading session, as there were 35 appreciating stocks and 24 depreciating stocks.
Yesterday, investors traded 560.0 million equities valued at N19.3 billion in 49,676 deals, in contrast to the 815.5 million equities worth N33.3 billion transacted in 52,641 deals in the preceding day, representing a drop in the trading volume, value, and number of deals by 31.33 per cent, 42.04 per cent, and 5.63 per cent, respectively.
Secure Electronic Technology dominated the activity log with 59.7 million shares valued at N61.1 million, Wema Bank exchanged 52.0 million equities worth N1.4 billion, VFD Group transacted 36.0 million stocks for N410.5 million, Access Holdings sold 35.3 million shares valued at N914.8 million, and Chams traded 31.0 million equities worth N115.0 million.
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