For Nigeria to tackle its perennial foreign exchange (forex) crisis, the need to invest heavily in infrastructure and adopt competitive policies that would attract Foreign Direct Investment (FDI) inflow into the country has been stressed.
At a webinar organised by Cordros Capital Limited held at the weekend, the Senior Research Analysts, Cordros Securities Limited, Gbolahan Ologunro, while listing policy actions that could be implemented to address the nation’s lingering forex challenges, said the need for government to prioritise infrastructure could not be overemphasised, especially for national development.
He also listed the nation’s security challenge as a major disincentive to investment, urging the government to evolve new strategies to tackle the problem.
“If the manufacturing companies can not source raw materials locally, they have to go to the parallel market to demand dollars. We must address insecurity if we are to reduce the demand pressure in the parallel…
Source: Guardian Newspaper
