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Insecurity in Nigeria, a big threat to investment – NESG

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The Nigerian Economic summit group (NESG),  on it monthly report according to may reports that insecurity in the country has become a big threat to business investment.

The Group has warn that insecurity will damage the investment system of the country and urges the Nigerian government to make haste and tackle the issue of insecurity in the country to enable a free and smooth avenue for investment.

The Nigerian Economic Summit Group is a non-profit, non-partisan private-sector led think tank with a mandate to promote and champion the reform of the Nigerian economy into an open, globally competitive economy.

As there aims is to improve the economy systems, it is deem fit to make reports and recommendation on the improvement of Nigerian investment.

According to the monthly report publish this may the NESG  this key point were highlighted

  1. Large arable land.
  2. Strategic location in Africa.
  3. Large market and opportunities presented by the AfCFTA.
  4. Import dependent–manufactured and agricultural goods account for 72.5% of total import in 2020.
  5. Weak manufactured goods exports – share of manufactured goods to total exports was 7.7% in 2020.
  6. Large population – Nigeria has a population of over 200 million people

After highlighting this main point,  it also stated that the government must provide an avenue for good investment and which will foster infrastructural development and build up the Nigerian economy.

 

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