Foreign Investment: Why Investors Shun Nigeria – Gov Bello Reveals

Kenneth Udeh

Niger State Governor and Chairman North Central States Governor’s Forum (NCSGF) Abubakar Sani Bello has identified negative publicity on the security challenges in Nigeria as a major factor  hindering genuine businessmen’s effort to invest in the country. 

He said the negative publicity with regards to security challenges has affected many states in the country towards attracting foreign direct, or even indirect investment adding that those challenges have been successfully tackled at the moment by the Federal and State governments.

The Niger State Governor , who is attending a bilateral, economic, trade and investment forum in Istanbul,Turkey, disclosed that the Nigerian government has recorded significant progress in addressing the problems of insecurity stressing that, though it will take some time to end, it should not deter investors from coming to Nigeria. 

“I know a few Turkish companies that are in Nigeria at the moment. They are doing their business and doing really well. So, I think there’s the need to build investors’ confidence with regards to the security challenges in Nigeria”, he added. 

After meeting with lots of Turkish companies, The Governor stated that, although many of them have shown enthusiasm and interest to work in Nigeria, most foreign companies lack the courage to visit and do business in the country.

The Governor, who applauded the organizers of the forum for what he described as a very timely event, however suggested that more Turkish companies and or their CEOs should be invited next time so that they are able to explain to the people in Turkey that Nigeria is not as bad as it’s been portrayed. 

He said “there’s the urgent need to change the narrative, and to mount aggressive image laundering campaigns to change the negative perception and impression of foreign investors towards our country. Every country of the world has its own peculiar challenges, but they are surmountable” 

“I am glad we are able to attend the bilateral economic, trade and investment forum. We’ve met with lots of companies, including security companies as well. In my opinion, the event was timely and the organizers did a wonderful job”, he said.

Bello further expressed the readiness of his administration to  collaborate with companies that are ready to add value to the economy of Niger state.  

In his interaction  with different interest groups on the sidelines of the Turkey-Nigeria business congress held in Istanbul,Turkey,   the Governor acknowledged that every nation desires to be better, stressed that having forums for trade or investment opportunities between nations as this, will engender the desired growth and development in all ramifications. 

Investors in various sectors comprising Agriculture, Health, Education Infrastructure, mineral resources among others met with the Governor. 

The CEO of the organising company, ‘window of turkey”  Baraa Alsasa said Forums such as this will facilitate business between Turkey and Nigeria, offer more opportunities to boost the Nigerian economy and enhance the tourism industries of both countries. 

Alsasa said the Forum is also an opportunity to bring together major stakeholders from Turkey and Nigeria to discuss ways of developing Nigerian in mutually beneficial partnerships.  

He appreciated Governor Abubakar Sani Bello for his attention and desire to partner with the investors, assuring him that it will be a worthwhile collaboration.