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How Nigeria can attract new investment, by AfDB chief, Akinwunmi Adesina

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AfDB president, Akinwumi Adesina

President, African Development Bank (AfDB), Dr. Akinwumi Adesina, has said that for fresh investment to come into Nigeria, handlers of the country need to be critical about getting some challenges resolved as fast as possible.

He also said there must be the enthronement of good macro-economic policies devoid of any political undertone for investment to come into the country.

According to him, there must be policy consistency and stability in the polity.

Adesina, in a chat with the media, The Guardian inclusive, who stated this at the just-concluded Africa Investment Forum (AIF) in Johannesburg, South Africa, organised by the AfDB, said the country must tackle headlong the issue of poor power generation in the country if it must become an investment destination.

He said: “There is nothing that scares investors more than policy reversals. Governments come and go, but investment atmosphere should be stable. So, I think stability of the polity is critical to guaranteeing investment as well.’’

Meanwhile, Osinbajo in an interview described the forum as an implementation conference and a game-changer for Africa.

The Vice President, who stressed that Africa was on the right track, said Nigeria was investing in infrastructure and that the country had doubled her investment, most especially in power, saying: “We are spending more money on capital projects, roads, power, health and the rest. We are investing about N2.7 trillion.”


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