In its World investment reports 2014,the UN conference on Trade and Development said despite a 4% rise in Foreign Direct Investment (FDI) into Africa in year 2013, inflows into Nigeria fell by 21.12%. Though the country still accounted for the largest chunk-14%. However, this pales into insignificance when compared with the Spike in FDI of $10.3 billion into South Africa during the same period. I dont think this is surprising if you consider : political instability, poor infrastructure, poor power supply, insecurity, policy Summersaults, lack of National agenda and focus, lack of political will and so on. In the economic team of GEJ, we have Dr Olusegun Aganga who worked for years in Goldman and Sachs. Hes also the minister of Trade and Investment. Dr Okonjo-Iweala (Harvard graduate) is the minister of Finance and the coordinating minister for the economy.She has worked in all the regional offices of the World Bank and presently a MD at the same bank. Miss Aruma Oteh (Harvard graduate) is also there. She worked for years at African Development Bank. My concern: With their wealth of experience,why can they formulate an achievable economic policies thats sustainable in the short and long term? I may be wrong but I think this egg heads can only function where the platform / structure is already available. Building a structure from the scratch with its attendant inevitable challenges,to them,is like taking fish out of water. So what? They keep on with the flow!
Posted on: Thu, 24 Jul 2014 08:36:46 +0000
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