By Favour Nnabugwu

Federal Government, yesterday, lamented the recent low ranking of Nigeria on foreign direct investment, FDI, by international ranking organisations.

Minister of State for Trade and Investment, Dr. Samuel Ortom, expressed government’s frustration at the 8th National Conference on Investment, NCI, in Abuja.

The minister cited the 2011 Doing Business Report of the World Bank, which ranked the country at 131 of 185 countries surveyed, while also noting that the 2012-2013 Global Competitiveness Index of World Economic Forum ranked Nigeria 115 of 144 countries surveyed.

Ortom said: “This unsatisfactory performance cannot be allowed to continue if Nigeria must take her rightful position as a major player in global economy, given our natural endowment.”