Fakoyejo OlalekanPresident of the African Development Bank (AfDB), Akinwumi Adesina, said investing in Nigeria is risky, but investors shouldn’t let that discourage them from conducting business in the country.
Adesina, however, said for investors to be encouraged, change must occur in the country, with emphasis on insecurity – which steam from bandits, herdsmen and Boko Haram attacks – and massive infrastructure deficit.
He likened investment in Nigeria to roses that comes with thorns, but said Nigeria needs a total $759 billion up until 2043 based on its National Integrated Infrastructure masterplan.
The AfDB chief said, “Those thorns should not discourage us, they call on us to strengthen international partnerships around Nigeria. Nigeria’s growth will be conditioned on its ability to fix its massive infrastructure deficit.”
He added that, “I’m talking about the man in the mirror, I’m asking him also to change his ways. We must change our ways sometimes. To attract greater foreign direct investment to Nigeria, we must fix security, capital does not like to be troubled.
“With the right conditions in place, we can confidently say Nigeria is a great investment destination; believe in us, invest in us, invest with us, and you will not be disappointed.”
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