Shekau’s Rumoured Death Excites Investors, US Firm Invests $700mn on Agric

The reported death of Abubakar Shekau, the leader of the Boko Haram insurgency, is making foreign investors look favourably towards investing in Nigeria.
 
Such investors are said to be frustrated by the low level of profit they are currently making from the BRIC nations of Brazil, India, Russia and China,  authoritative US journal, Forbes, has reported.
 
The report, published in Forbes, yesterday, said success in cracking down on security threats in the Niger Delta is also changing the security situation for the better.
 
And while terrorist disruption recedes, money keeps flowing into Nigeria.
 
In the last six months, U.S. corporations like Procter & Gamble PG -have committed at least $700 million to build new factories and agricultural facilities in the country while the Nigerian government itself announced a $1 billion fund to nurture the local software industry, which officials think can ultimately capture $20 billion a year from rivals like India, the magazine continued.
 
The leading American business magazine said though putting Lagos on equal footing with Bombay or Sao Paulo as a global capital hub in three years would be quite a feat, the foundations for such growth are already in place.

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