News
Global investment flows rebound after COVID-19, reaches $852bn in 2021

After a big drop in 2021 caused by the COVID-19 pandemic, global Foreign Direct Investment, FDI, reached an estimated 852 billion dollars in the first half of 2021, showing a stronger than expected rebound.
The latest Investment Trends Monitor released on Tuesday by the United Nations Conference on Trade and Development, UNCTAD, showed an increase in the first two quarters.
It shows the increase in the first two quarters in FDI, recovered more than 70 per cent of the losses stemming from the COVID-19 crisis in 2020.
For UNCTAD’s director of investment and enterprise, James Zhan, the good news “masks the growing divergence in FDI flows between developed and developing economies, as well as the lag in a broad-based recovery of the greenfield investment in productive capacity”.
Zhan however warns that “uncertainties remain abundant”.
The duration of the health crisis, the pace of vaccinations, especially in developing countries, and the speed of implementation of infrastructure stimulus, remain important factors of uncertainty.
Other important risk factors are labour and supply chain bottlenecks, rising energy prices and inflationary pressures.
Despite these challenges, the global outlook for the full year has improved from earlier projections.
The growth in the next few months should be more muted than in the first half of the year, but it should still take FDI flows to beyond pre-pandemic levels.
Between January and June, developed economies saw the biggest rise, with FDI reaching an estimated 424 billion dollars, more than three times the exceptionally low level in 2020.
In Europe, several large economies saw sizeable increases, on average remaining only five per cent below pre-pandemic quarterly levels.
Inflows in the United States were up by 90 per cent, driven by a surge in cross-border mergers and acquisitions.
FDI flows in developing economies also increased significantly, totalling 427 billion dollars in the first half of the year.
There was a growth acceleration in the east and southeast Asia (25 per cent), a recovery to near pre-pandemic levels in Central and South America, and upticks in several other regional economies across Africa, and West and Central Asia.
Of the total recovery increase, 75 per cent was recorded in developed economies.
High-income countries more than doubled quarterly FDI inflows from rock bottom 2020 levels, middle-income economies saw a 30 per cent increase, and low-income economies a further nine per cent decline.
Growing investor confidence is most apparent in infrastructure, boosted by favourable long-term financing conditions, recovery stimulus packages and overseas investment programmes.
International project finance deals were up 32 per cent in number, and 74 per cent in value terms. Sizeable increases happened in most high-income regions, and in Asia and South America.
In contrast, UNCTAD says investor confidence in industry and value chains remains shaky. Greenfield investment project announcements continued their downward path, decreasing 13 per cent in number and 11 per cent in value until the end of September.
After suffering double-digit declines across almost all sectors, the recovery in areas relevant to Sustainable Development Goals (SDGs) in developing countries remains fragile.
The combined value of announced greenfield investments and project finance deals rose by 60 per cent, but mostly because of a small number of very large deals in the power sector.
International project finance in renewable energy and utilities continues to be the strongest growth sector.
The investment in projects relevant to the SDGs in the least developed countries continued to decline precipitously.
New greenfield project announcements fell by 51 per cent and infrastructure project finance deals by 47 per cent. Both had already fallen 28 per cent last year.
NAN
Headlines
Plateau Governor Sets Up Committee to Probe Two Decades of Attacks

Plateau State Governor, Caleb Mutfwang, has inaugurated a 10-member fact-finding committee tasked with uncovering the root causes of the persistent attacks plaguing communities across the state.
Speaking during the inauguration ceremony on Tuesday in Jos, Governor Mutfwang charged the committee with conducting a comprehensive review of violent incidents from 2001 to date. “We thought that we should set up this high-powered fact-finding committee to look at the incessant attacks on our communities,” the governor stated.
According to Mutfwang, the committee is expected to perform an in-depth assessment of the recurring security breaches, determine the number of affected communities, and assess the extent of damage done over the years. “We want to understand the root causes and propose actionable recommendations for lasting peace, justice, and stability in the affected communities,” he said.
The committee’s mandate also includes establishing the number of casualties, identifying possible perpetrators and their motives, and uncovering potential routes used by bandits to access Plateau State. “Identify possible routes of bandits into the state and recommend measures to limit their access,” the governor added.
Chairman of the committee, retired Maj.-Gen. Rojas Nicholas, thanked the governor for the confidence reposed in the members. He pledged that the committee would approach its assignment with fairness and commitment. “We will do our best to produce a report that would befit its assignment,” Nicholas assured.
The committee is expected to submit its findings and recommendations in due course, with hopes that the report will provide a pathway to durable peace and security in the state.
News
Sanwo-Olu Inaugurates Lagos Civil Service Commission, Urges Integrity and Innovation

Governor Babajide Sanwo-Olu on Tuesday officially inaugurated the newly-appointed Chairman and Commissioners of the Lagos State Civil Service Commission, with a charge to uphold integrity, promote innovation and maintain discipline within the state’s civil service.
The inauguration ceremony, held at the Banquet Hall of the Lagos House in Ikeja, confirmed Mrs. Boladele Dapo-Thomas as Chairman of the Commission, alongside Alhaji Fatai Lasisi, Mr. Afolabi Shobowale, Mr. Rufus Adedapo, and Mr. Lateef Yahya as commissioners.
Speaking at the event, Sanwo-Olu said the appointments were a recognition of the appointees’ professionalism and unwavering dedication to public service. He noted that their new roles came with significant responsibilities that would directly impact key areas of state governance.
“This is not just a celebration of new appointments, but a reaffirmation of our collective commitment to an effective and accountable civil service,” the governor stated.
He emphasized that the commission must “lead with integrity and uphold the principles of fairness and meritocracy,” adding that the decisions they make would affect crucial sectors including education, healthcare, security, and infrastructure.
“As leaders of the Lagos State Civil Service Commission, your actions will shape the quality of service delivery across the state,” Sanwo-Olu said. “Millions of Lagosians rely on our public institutions every day, and it is your duty to ensure those institutions are staffed and managed by competent and dedicated personnel.”
The governor also encouraged the new commission members to embrace innovation and transparency while pushing for growth and continuous capacity development within the civil service.
“You must remain accountable to the people, put their interests first, and create opportunities that empower our workforce to deliver at the highest standards,” he added.
Expressing confidence in the team’s capability, Sanwo-Olu described the commission as a “beacon of excellence” and a “catalyst for progress” in the administration of governance in Lagos State.
Among the dignitaries present at the event was the Lagos State Head of Service, Mr. Bode Agoro, who echoed the governor’s call for dedication, urging the appointees to align themselves with the THEMES Plus Agenda of the Sanwo-Olu administration.
Speaking on behalf of the new appointees, Mrs. Dapo-Thomas assured the governor and Lagosians that the commission would deliver excellence in their mandate and justify the confidence reposed in them.
News
Obasanjo Hails National Sports Festival as Symbol of Post-War Unity

Former President Olusegun Obasanjo has described the National Sports Festival (NSF) as a powerful force for national reconciliation and unity, especially in the aftermath of Nigeria’s Civil War.
In a statement titled “A Triumph of the Spirit,” issued by his Special Assistant on Media, Kehinde Akinyemi, on Tuesday in Abeokuta, Obasanjo said the festival, since its inception in 1973, has served a higher purpose than mere athletic competition.
“Since its inception in Lagos in 1973, the festival has been more than a competition. It has served as a beacon of unity, rebuilding the bonds of peace and mutual respect after the Civil War,” he said.
Obasanjo made the remarks while commending athletes participating in the 22nd edition of the festival, the Gateway Games, which is being held in Abeokuta. He noted that the event continues to be a platform for fostering national cohesion and friendships across cultural boundaries.
“Today, it will continue to bring people together, fostering friendships across cultural divides and preparing athletes for future challenges,” the former president stated.
He urged participants and spectators alike to look beyond the medal tables and state rankings, emphasizing that the true spirit of the games lies in values such as perseverance, courage, and the joy of participation.
“The sacrifice, determination, and grit—the qualities that brought each of you here—are victories in their own right,” Obasanjo added. “For some, the journey to compete may not lead to a podium finish, but the effort and resilience shown are monumental achievements.”
Obasanjo also reiterated that sports possess a unique ability to transcend political and linguistic divides. “As we gather in Abeokuta for the 22nd National Sports Festival, let us reflect on the essence of these Games,” he said, calling on Nigerians to embrace the inclusive spirit the NSF represents.
He concluded his remarks with a prayer that the games bring joy, unity, and the triumph of the human spirit, symbolizing the enduring power of sports to heal, inspire, and unite the nation.
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