Buhari Challenges Wealthy Nigerians to Invest in Critical Sectors
Friday, May 24th 2019, President Muhammadu Buhari hosted top businessmen to Iftar (breaking of the day’s Ramadan fast) at the State House in Abuja. And he used the opportunity to encourage businessmen to invest in what he called critical areas of the economy. What areas are those, exactly? Not stated; but one would imagine power, health, infrastructure, etc. The other thing not stated is that wealthy Nigerians don’t see those sectors as exactly worth their while.
It is the president’s belief that if this is done, there will be massive job generation and consequently, wealth creation. So why are the big hitters not hitting this supposedly sweet spot of the economy? That should be the question.
Truth be told, this administration has not been good for business. A lot of businessmen and women will tell you that without much prompting.
The high decibel war on corruption has been more noise and
more of a disincentive in the sense that most businesses have become chop spots for the EFCC and other anti-corruption agencies. Rather than tackle actual corruption cases, businessmen particularly those toeing the straight and narrow have been subjected to undue grilling that have left businesses unable to function optimally.
The president needs to allow businesses function, whether these businesspeople are openly supportive of the party in power or not. Bolstering the economy is what should be of prime consideration.