Business
Facilitate Inflow Of Investment Activities, FG Urgeda
Some financial experts yesterday in Lagos urged the Federal Government to put adequate measures in place to facilitate the inflow of investment funds.
They told newsmen in Lagos that the step was necessary to generate employment opportunities for the unemployed youths.
Dr Samuel Nzekwe, immediate past President, Association of National Accountants of Nigeria (ANAN), urged the Federal Government to be proactive in addressing some of the ailing sectors of the nation’s economy.
Nzekwe also urged the Federal Government to tackle the problem of infrastructure in order to attract foreign investors.
“As long as infrastructural development is still lacking, the economy cannot move forward,” he said.
Nzekwe urged the government to imbibe deliberate efforts to stimulate the real sector for active activities to begin in the sector.
According to him, the N75 billion earmarked to bailout the real sector has yet to be disbursed to the operators.
He said that some investors had left the country for other countries due to poor power supply.
Nzekwe said that privatisation of the energy sector would solve some of the problems and attract foreign investors if there was transparency in the process.
Also speaking, Dr Bello Kazeem, a lecturer in the Department of Economics, University of Ibadan, told NAN on phone that security threat could also negate foreign investment.
Kazeem said that security of lives and properties were essential for the survival of the society.
“The quality of national security determines the inflow of foreign investment into the country,” he said, adding that no one would be willing to invest in an environment that was not conducive for investment.
Kazeem said that good roads and consistency in government policies would also attract foreign investors and Nigerians in the Diaspora to come home and invest.
In his comment, Dr Olumide Owoade, a lecturer in the Department of Economics, Lagos State University (LASU), said that outright disobedient to the rule of law would affect investment inflow.
He said:“Putting the government institution right will move the economy forward and aid foreign investment.”
Owoade decried the high level of corruption in the country, saying that the government should intensify its efforts to curb the menace.