Africa and Nigeria experienced mixed outcomes in FDI in 2023 according to the World Investment Report 2024 by UNCTAD. While Africa saw a 3% decline in FDI to $53 billion, Nigeria's FDI increased to $1.87 billion, with a focus on greenfield investments in renewable energy. The continent witnessed a 7% rise in greenfield projects, potentially leading to the creation of 200,000 jobs. Africa's investment landscape included notable green hydrogen projects like the $34 billion project in Mauritania and investments in Egypt and South Africa. Despite an overall decrease in greenfield project values, Africa remains a significant destination for international project finance deals. The AfCFTA Investment Protocol is expected to boost intraregional FDI and increase value addition in processing industries. Globally, FDI decreased by 2% in 2023, influenced by various economic factors. However, initiatives in the renewable energy sector and growth in greenfield project announcements indicate a possibility of modest FDI growth. While international project finance and M&As were weak, some regions experienced positive trends in greenfield projects, offsetting declines in project finance deals.