Home >> Africa >> Nigeria & Niger

     Email   Print 

Nigeria and Foreign investors

Ugo Harris Ukandu - 3/3/2008

I want to understand what Nigerian Government officials, especially the State Goverenors think about economic development, because it seems that our idea of investment/trade and the rest of the world runs counter to each other. Looking at economic development in all parts of the world, governments and people develop economic models by looking inward within their countries before venturing outside to seek input but in Nigeria the opposite is the case.


On a daily basis our Government officials and state governors travel abroad to seek economic and foreign investors, and in the process travel with a large group of people for that purpose, and you can imagine the kinds of money that is involved in these worthless ventures and travels.

The governors should all know by now, that the world has what is called new and old economy, and by that it means - new ecomony means - application of modern digital technology in delivery and production of goods and services.The old ecoonomy - like we have the old type of factory lines production with the anolog type of technology in the production and delivery of goods and services.

The Nigeria officials and governors should try first of all to make their indivivual States attractive to Nigerian business people and traders in Nigeria, for example Kano State, Enugu State, Rivers State Benue State etc to be conducive, crime free, motorable roads, and improve educational system to attract a market woman or man from Sokoto State or a business woman or man from Oyo State to their respective state.

If these officials and governors can guarantee and improve condition for business people from other parts of Nigeria to come to their States, then that will be a good example for foreign investor to use as a reason to come to invest in their state, You know it is said that charity begins at home.

I believe that if any state will stand out and make business people or market people from other states comfortable and create access to good schools, motorable roads, running water and of course electricity available, Nigerians will invest in that State.

What I see from these states is lack of infrastructure and lack of security for life, vigilante system ( Bakassi, OPC, Egbesus, APC), how can Nigerians from different State invest in their own country in these types of environment?

We have to make Nigeria comfortable before a foreigner will come and invest the way we want them. You have to create a model State in Nigeria and make one state a business friendly state with peace, tolerance for other ethnic group evident, and a business friendly and progresive atittude; and you will see how Nigerians will flock to that state and invest, thereby proving to foreigners that a person from Delta State for example can invest in Sokoto state without fear or favour.

Modern investment strategy involves highly developed school system,available and experienced skilled labour in modern technology, credible and available banking and financial strategy to go with a well developed road network and other infrastructures like steady running water, good environmental planning and electricity.

In all of the schools in all the states in Nigeria, one may not be able to count up to two schools of technology or department of technology in all the of state that can be measured to the international standard that a foreign investor may use as a criteria to come and invest in the state.

It is simple, for a foreign investors to come to any state, improve the school system and infrastructures and attract Nigerians (market women,carpenters, mechanics, okirika sellers etc) from other States to come and invest in the different states as a model, then that will improve the state for foreigners to come and invest. No foreign investor will want to loss their money in a system that is not organized.