IHRO-Africa sets standard to reform Nigeria economic landscape
To transfer Nigeria’s economic landscape to a global stage, the International Human Rights Observatory Africa (IHRO-Africa) has urged policy makers to simplify Nigeria’s regulations and build necessary transparency, expand trade agreements and deepen diplomatic relations to open new markets for Nigerian businesses.
This, according to the Chairman of the committee on Economic Diplomacy, Trade and Investment, IHRO-AFRICA, Ambassador Daniel Chukwuka Koussou, will make Nigeria emerge as a beacon of opportunities for Africa, more importantly for Nigerians to thrive on the global stage.
Koussou, who expressed concern over the increasing cases of human capital flight owing to economic downturn, said there is need to implement enterprise-friendly reforms to mitigate human capital flight in Nigeria. “We need to continuously promote business friendly and investment friendly Nigeria for investors around the globe. IHRO-AFRICA aim is to build Nigeria to a place where investments can naturally flow in with better policy. Showcase the best of Nigeria to the world from agriculture to creative industries etc.”
Emphasising on integrity in business and the need to prioritise Nigeria to benefit heavily from investment coming through the diplomatic forum, Koussou said, “due to the economic instability, volatile currency fluctuations, and high operational costs, over 100 companies have exited Nigeria since 2020, resulting in estimated losses of 56 billion dollars. Nigeria has potential to be great if policy makers in Nigeria create business-friendly laws to reduce the rate at which our professionals leave the country.
“In 2013, 5.3 billion dollars was put in foreign direct investments, this could be increased with better policies. IHRO-AFRICA as a civil society group would work with regulators, private and government agencies to create a business-friendly environment. Our mission is to find real solutions to help businesses thrive and to attract investors from around the world. We will do this to secure Nigeria. We will be building Nigeria into a place where investments can thrive,” he said.
Country Director, BIGWIL IHRO-Africa, Dr Chimbo Obieze, said Nigeria is the best place to invest in Africa. “This organisation is here to work with the different levels of government and the private sector.
Also speaking at the event, Commissioner, Public Complaints Commission, Federal Capital Territory (FCT), Musa Dikko, while emphasising the importance of building trust in the business space, he urged Nigerians to report complaints of shady businesses to the commission.
The event was graced by prominent Nigerians from all walks of life, including the President of the National Association of Nigeria Travel Agencies (NANTA), Yinka Folami; Branch Manager of First City Monument Bank, David Ujah; Chairman of the Federation of Registered Guilds and Associations in Nollywood, Dr Victor Okhai; Winner of the Nigerian Idol Season 9, Chima Udoye; among others.
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