Insecurity hampers British investment in Nigeria – MP
A member of British Parliament (MP) Meg Hillier has said that British entrepreneurs are reluctant to invest in Nigeria because of their perceived insecurity in the country.
A statement by African Partnership Development (APD) UK, issued in London over the week, quoted Ms Hillier as saying that many potential British investors feel that insecurity was Nigeria’s greatest challenge.
He said: “It has led to dwindling British investment in the country.
“Many British investors I have spoken to have expressed their fears in the current state of insecurity in the country. Many people including those very close to me, think that Nigeria is about all manners of insecurity and have got these negative opinions about the country.”
Ms Hillier, who chaired a conference on Nigeria organised by APD last week, is also Chairman of All-Party Parliamentary Group on Nigeria.
She represents Hackney South and Shoreditch, one of the London Boroughs with the highest concentration of Nigerians.
She said though Nigeria was not as bad as people think, the Nigerian government should do more on security, stressing that “a nation cannot develop unless the government takes the issue of security of life and property seriously.”
She charged Nigerians living in the UK to be more productive in
creating Nigerian- oriented businesses and investment in order to be able to make a successful breakthrough into the British economy.
The Executive Director of APD, Mr. Tunde Alabi, who signed the
statement, lamented that many Nigerians in Diaspora who wanted to go back home have always been “frustrated by the government and people who are not ready to allow them contribute to the development of their country.”