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NIGERIA BUSINESS CLIMATE SCARES FOREIGN AND LOCAL INVESTORS, SAYS NIGERIAN ECONOMIC SUPPORT GROUP

 

Citizens, foreigners scared of investing in Nigeria, says NESG

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The Chief Executive Officer, Nigerian Economic Summit Group, Laoye Jaiyeola, has urged state governments to improve on their investments and create enabling environment for businesses to thrive as well as attract investors in the country.

Jaiyeola who made the call in Abuja on Tuesday at a high-level private sector dialogue with the conference of speakers of state legislatures noted that the root of Nigeria’s economic problems was lack of investment and an enabling environment for businesses to thrive.

He said, “The solution is that what we need is to bring investment. There are private sector people in Nigeria today who are afraid to invest their money in the country. Our foreigners are not bringing their money; Nigerians are taking their monies out.

So, how do we give that confidence that will make the private sector keep their money in the country?”

According to Jaiyeola, the state of the economy is not where it should be as the country has recorded three recessions in the last 10 years

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