Business
Why Nigeria Records Poor Foreign Investment -Expert

The Managing Director of Gaserve Global Logistics Limited, Chief Ogbonna Sam Okoro, has attributed poor direct foreign investment in Nigeria to insecurity, politics and weak institutions.
Chief Okoro, in an exclusive interview with The The in Port Harcourt, said insecurity in the county had forced many multinational companies to relocate their headquarters to other countries..
Okoro who is a Liquefied Petroleum Gas (LPG) expert, noted that Nigerian leaders often play politics with everything, not minding the impact on the electorate.
He decried a situation where individuals take the place of institutions, saying such would not encourage foreign investors.
He, therefore, called for a review of policies to rekindle the interest of investors and make the country an investment haven.
He also expressed worry over lack of commercial incentives for business development, saying such is capable of discouraging investors.
Meanwhile, the Programme Director of International Business Summit (iEBS) in Africa, Dr Larry Goodwill Ajiola, has urged the government to encourage Small and Medium Enterprises (SMEs) to grow into big companies to attract foreign investors.
Dr Ajiola said that the development of SMEs in the country would expand exports and also boost foreign transactions, necessary for economic growth.
By: Lilian Peters