Lack of investor confidence slowing Nigeria’s growth — Utomi


A professor of political economy, Pat Utomi, and the CEO of Linklegal Consulting, Prof. Ademola Abass, have said the lack of investors’ confidence is slowing the economic growth of Nigeria.

Utomi said there were enormous investment opportunities in the country but said the country must first be business-friendly.

According to a statement, the don stated this recently at the launch of Linklegal, an investment advisory provider, at the Eko Hotel and Suites, Lagos.

Utomi said that some Nigerians were establishing their businesses outside the country due to the fear of the unknown in Nigeria.

He called on political leaders to be more visionary in governance, citing that the transformation of Dubai happened because the country had visionary leaders.

The Linklegal CEO, Abass, said the company was established due to the need to address identified investment gaps and guide potential investors in the country.

Abass, who is a former Special Adviser on Overseas Affairs and Investment to former Lagos State Governor Akinwunmi Ambode, said the narrative must be changed with respect to the unfriendly business environment in Nigeria.

The don, who had previously worked with the United Nations and the African Union, said his experiences would be brought to bear in the running of Linklegal.

In his remarks, the Consul-General of Germany in Lagos, Dr Stefan Trumann, described the Linklegal platform as needed to bridge the gap between investors and Nigeria.

Also, a retired Managing Director/Chief Executive of UACN Property Development Company Plc, Mr Hakeem Ogunniran, said insecurity was a major drawback to investing in the country and should be addressed. – Punch

– July 8, 2019 @ 9:19 GMT |

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