There is, arguably, no gainsaying the fact that the principal investment objective of the average entrepreneur is, essentially, to package a marketable business idea,seek an enabling environment for the business to implement such a concept in order to make it thrive, and possibly maximise gains or returns on his or her investment at the end of the day. And in this potential manner, that such an investor perhaps, can create wealth and opportunities while empowering many others in the process. That is why the leading stakeholders in the Nigerian enterprise, particularly the Government and its relevant agencies, directorates, commissions, departments and councils responsible for the provision and rehabilitation of requisite, supportive infrastructure that could create an investment-friendly environment that will enable such serious-minded entrepreneurs to actualise their business visions, should rise to the occasion now. In the light of the foregoing, therefore, it is, however, disheartening that even long before the advent of the continued economic and financial meltdown, which started manifesting late 2008, and still troubles the global economy up till now, a sizeable number of Nigerian businesses apparently, had found the country's business climate tough and unfriendly, reducing it to one in which a typical businessman or woman could hardly break even, let alone make profit and create more opportunities and wealth. Hence, many of them have closed shop in Nigeria and headed for neighbouring countries in West African sub-region, particularly Ghana, formerly Gold Coast.In a published press interview with Sylvester Parker Allortey, Consular-General of the Ghanaian High Commission in Nigeria, in January 2011, on the alleged migration of Nigerian companies to Ghana in recent times, had said: 'It is true that some Nigerian companies have migrated from Nigeria to Ghana.... In a world of globalisation, most people would always move where they find opportunities and they find the cost of production to be lower. They would always move to places where they find stability, because nobody wants to operate in an environment that is uncertain and they also need security in form of moving around the country freely without fear. Also, they also want to move to places where they find that their investment has been guaranteed. These are factors which determine where business people go.... Even people within the sub-regions are also locating businesses where they would be most profitable,' Allortey further declared.Thus, it will be somewhat hard for any Nigerian who is fully aware of the realities on ground in the country as of now, to dispute the Ghanaian Consular-General's submission on why Nigerian businesses have continued to move into Ghana in droves, particularly in connection with rising insecurity of lives and property, skyrocketing cost of production, irregular power supply, and general aura of hopelessness and uncertainty among the citizenry. Having created opportunities and wealth for his fellow Ghanaians for years, George Aboagye, Chief Executive Officer (CEO), Ghana Investment Promotion Centre, in a recent media chat in Lagos, also cheerfully disclosed that between 1994 and 2011, about 17 Nigerian businesses located in Ghana had contributed US$1.5 billion (about N240 billion) to the advancement of the Ghanaian economy. He was quoted to have said that Nigerian investments in Ghana were further 'forecast to grow by additional $500 million (about N80 billion) by 2015.'According to Aboagye, some of the key sectors in which Nigerian businesses are recording visible feats while making good things happen in Ghana include agriculture, manufacturing, building, services, tourism, as well as the general and export trade sectors, saying 'Ghana is richly endowed with human and natural resources... whenever a Nigerian comes to do business, the knowledge and experience he brings always prove very useful to us in Ghana.' Why not, when Nigeria seems not ready to create an the enabling environment for Nigerian businesses to thrive' Incidentally, three of the major areas 'agriculture, manufacturing and tourism' where Nigerian businesses are said to be making meaningful contributions in Ghana are some of the areas in which the Nigerian economy is gravely lacking at home. For instance, the country still imports foods of different kinds in several billions of Naira every year, due to neglect of agriculture in the face of 'cheap' oil money; dwindling fortune of the industrial sector as a result of epileptic power supply and capacity under-utilisation; and tourism, in which Nigeria is yet to have a definite framework to tap into the huge investment opportunities lying fallow in this multi-billion Dollar industry. Hence, sequel to the just-concluded 17th edition of the Nigerian Economic Summit (NES#17), in Abuja, which had in attendance, several Heads of State and Governments, Presidents, foreign and local investors, as well as Chief Executive Officers (CEOs) of global corporations from Europe, Asia, the Americas, the Middle East and Africa, for any marked progress to be recorded in the political, socio-economic arenas in the country as things grimly stand now, the federal government, in conjunction with other relevant security agencies and Nigerians in general, must tackle the prevalent insecurity challenges, posed by the rampaging Boko Haram Islamic sect members in some parts of Northern Nigeria.Nigerians themselves understand quite well that the greatest threat to any potentially viable investment in Nigeria today is the issue of insecurity of lives and property. This is why I readily share the sentiments of the foreign investors at the NES#17, who expressed their non-committal to any further investments in Nigeria for now, as a result of perceived insecurity.Contrary to President Goodluck Jonathan's pronouncement at the Summit, that 'anybody who fails to invest in Nigeria now because of these incidences of Boko Haram will regret it. Those who think that Nigeria is a place where they can always come and dump their products will eventually be disappointed because this will not continue for long,' his subtle threat to potential investors in Nigeria may not sound convincing after all, unless the country decisively acts to improve on the disheartening security situation and revive its comatose and struggling industrial sector to prevent further dumping of all manner of goods and products on the supposed 'Giant of Africa'.Instead of sounding Utopian as if nothing serious is bogging down the country's socio-economic development security-wise, or that Nigeria does not need the support of serious foreign investors, aside from giving them incentives such as Customs duties exemption for plants, machinery, equipment, reasonable corporate taxes and tax holidays, and relief from alleged double taxation, the government needs to appeal to and reassure them by creating the conducive environment to guarantee the safety of their investments.If these measures are put in place and faithfully implemented, they also will be consistent with the aspirations of the administration's stated Transformation Agenda and Nigeria's Vision 20:2020. It is high time we walked the talk, but charity must begin at home: Nigerian investors and businesses should also be encouraged to have confidence in the system, and create wealth and extend opportunities for empowerment to others in their country. 'Kayode, CEO, Wordkraft Communications Limited, Lagos, wrote in via gbengakayode@wordkraftmedia.com
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