ZKOSOSO:
Just as they are falling over each other to do business with Buhari now..?

ZKOSOSO:
Just as they are falling over each other to do business with Buhari now..?

Never believe a protégé of the Late Gani Fawehimin can be this clueless and sycophantic to the same set of Tyrants that Gani fought with all his life.....

It's a pity...

AroleOduduwa:
Imbe, who is currently doing business with Jubril?

Why You Should NOT Invest in Nigeria’—ex-UK
Secretary of State Writes Investors


Priti Patel, former secretary of state for International Development in the United Kingdom (UK), has called on investors to be wary about investing in Nigeria.

In a short op-ed for City A.M., London’s first free daily business newspaper, Patel, a member of the UK parliament, said President Muhammadu Buhari has disrespect for “international law and convention, and court decisions”.

Patel, who visited Nigeria in 2017, alongside Boris Johnson, former UK foreign secretary, shared the experience of two Irish businessmen, who suffered from Buhari’s decision to renege on signed contracts.

HER OP-ED IS REPRODUCED BELOW

When the Nigerian finance minister visited London last week, she and her officials came to advertise Nigeria as a country that is open for business.

The minister, Zainab Ahmed, came to promote Nigeria’s $2.8bn Eurobond sale, which follows on from the Nigerian government’s oversubscribed $1bn Eurobonds sale in February 2017.

I am a supporter of economic investment into developing countries – open markets and capitalism have paved the way for poverty reduction around the world.

Many nations in Africa, including Nigeria, have benefited from investment over the years, and Nigeria’s Eurobonds could bring relief to its ongoing economic woes.

Over the last decade, the amount of UK foreign direct investment into Africa has more than doubled from £20.8bn to £42.5bn. This is good news.

However, as with all investments, investors should know of the corrosive effect of corruption, as well as the lack of transparency and associated difficulties of doing business in certain countries.

In Nigeria, the unhappy experience of the firm founded by two Irishmen, Process and Industrial Development (P&ID), is a case in point, and demonstrates the risk that businesses will face in Nigeria.

In 2010, P&ID signed a 20-year contract with the Nigerian government to create a new natural gas development refinery, but the project fell through after the Nigerian government reneged on its contractual commitments. Upon taking office, President Buhari promptly cancelled a compensation settlement, and has done his level best to pretend Nigeria’s obligations to P&ID do not exist.

Since Buhari reneged on this deal, P&ID has undertaken legal efforts to affirm a tribunal award, first decided in London. It also made several attempts in court to force the Nigerian government to respect its obligations.

The most recent court decision at a London tribunal confirmed that the Nigerian government owes P&ID almost $9bn for the initial breach of contract, loss of income, additional costs, and interest accrued after five years of non-payment.

However, the Nigerian government has continued to flout international law and convention, and it refuses to respect the various court decisions.Investors must consider this long-running scandal and weigh this obstinance against Nigeria’s mishandled economic potential.

Let us not forget that Nigeria is the only member of OPEC that is dependent upon petrol imports to keep the country going. Nigeria is ranked 145th in the world for its ease of doing business, which demonstrates the risks of investment into Nigeria.

Despite the President’s public anti-corruption platform, Transparency International has not seen any reduction in corruption since Buhari took office. In fact, the precise opposite has happened, with Nigeria falling 12 places between the 2016 and 2017 rankings.

President Buhari currently faces serious allegations, which include staging show trials of opponents of a regime that is accused of corruption and graft, while simultaneously shielding his own party members and inner circle.

We should all welcome international efforts to attract international investment into developing economies. However, to do this successfully Nigeria must seriously tackle corruption, rather than use it as a smokescreen.

It must honour its obligations to companies like P&ID. Until then, investors inevitably will be very wary of investing in Nigeria.

ZKOSOSO:
Just as they are falling over each other to do business with Buhari now..?

Never believe a protégé of the Late Gani Fawehimin can be this clueless and sycophantic to the same set of Tyrants that Gani fought with all his life.....

It's a pity...

After Years of Distrust, U.S. Military Reconciles With Nigeria to Fight Boko Haram


The proposed sale reflects the warming of the relationship between the Nigerian and American militaries, which had frayed under Mr. Jonathan. The Pentagon often bypassed Nigeria in the fight against Boko Haram, choosing to work directly with neighboring Cameroon, Chad and Niger

In addition to citing corruption and sweeping human rights abuses by Nigerian soldiers, American officials were hesitant to share intelligence with the Nigerian military, saying Boko Haram had infiltrated it. That accusation prompted indignation from Nigeria.

But that was before Mr. Buhari, a former Nigerian Army major general, defeated Mr. Jonathan in an election last year.

Since coming into power, Mr. Buhari has devoted himself to rooting out graft in Africa’s largest economy

DMerciful:
I'm certain when Atiku wins February, the stock market and money market will become bullish.
Investors in the house, this is time to invest as we are looking at over 20% instantaneous growth when Atiku is declared winner.

Racoon:
And where have the Buhari government taken our economy and international relations to? All major global assessment indices have scored Nigeria on an abysmally low levels

The desperation is getting intense.This APC government is on it way out.Meanwhile let Nigerians take the decision.

Tehila07:


Tell the thief to visit us if they born him well and see if he will return.

DMerciful:
I'm certain when Atiku wins February, the stock market and money market will become bullish.
Investors in the house, this is time to invest as we are looking at over 20% instantaneous growth when Atiku is declared winner.