An Economist, Dr Tunde Adeoye, has urged the Federal Government to urgently address the issue of insecurity in order to open up the country for foreign direct investments.
Adeoye, also a Senior Lecturer, Department of Economics, University of Lagos, made the plea in an interview with the news Agency of Nigeria (NAN) on Monday in Ota.
He said that the state of the economy required deliberate policy initiatives to stamp out insecurity and attract investments.
“The country is not attractive to foreign investors because of the level of insecurity in some parts.
“With the activities of bandits, kidnappers and insurgents, it is difficult for foreign investors to move into the country.
“The few investors that have remained in the country are not operating optimally; they are operating in fear; the business climate needs repair,” Adeoye said.
The economist said that the panacea to the declining investment climate in the country was to bring an end to insecurity.
“The situation has led to poverty, loss of jobs and other adverse effects; so the Federal Government has to urgently take the right steps.
“If the investment climate becomes inviting, more jobs will be created, poverty and hunger will reduce.
“The government has to take this bold step to also cushion the effects of the outbreak of COVID-19 on the people,” he said. (NAN)
