President Muhammadu Buhari - Nothing to smile about
CC™ Global News
Investment announcements in Nigeria fell to $1.69bn in the second quarter of this year from $8.41bn in Q1, indicating a decline of about 80 per cent, a new report by the Nigerian Investment Promotion Commission has said.
The report said the total value of investments interests in the first half of this year fell by $1.57bn to $10.11bn, compared to the second half of last year. The figure is, however, $5.05bn higher than that of the same period of last year.
An analysis of investment announcements by sectors revealed that the manufacturing sector attracted the highest investments with $5.9bn or 58 per cent.
The general sense of helplessness or possible disinterest in tackling the growing insecurity by the Buhari administration has not helped matters.
Rather than focus on the murderous activities of the Fulani Herdsmen, Boko Haram and ISWAP terrorists, President Buhari and his handpicked Attorney-General Abubakar Malami, a Northern Fulani Muslim, have instead focused their attention on Southern law and justice advocates like Nnamdi Kanu and Sunday Igboho.
The head-scratching focus on these Southern advocates, as opposed to the Northern-Muslim terrorist organizations, has essentially exposed Buhari as an unrepentant ethno-religious bigot, a label the latter has struggled to shake off for much of his underwhelming career both as a soldier and as a leader.
Nigeria is indeed at a cross-roads and there is no telling where Buhari's rudderless leadership might eventually lead the nation.
The Nigerian economy can't survive without the requisite foreign direct investment and the current atmosphere is just not conducive for that.
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