Why Nigeria Is No Longer Attractive For FDI — Senate

Why Nigeria Is No Longer Attractive For FDI — Senate
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The Nigerian Senate has decried the escalating wave of insecurity in the country stressing that it has made Nigeria unattractive for foreign direct investment (FDI) while calling on security chiefs to up their game to halt the ugly trend.

The red chambers also added that there is nothing to show for the huge investment in security.

Senate President Ahmad Lawan, who expressed the view at a marathon meeting with military chiefs and heads of security and intelligence agencies, described the level of insecurity in the country as most frightening.

Lawan spoke on a day bandits attacked the convoy of Assistant Inspector-General of Police (AIG) in charge of Zone 12, Bauchi, Audu Adamu Madaki, inflicting gunshot wounds on his leg, killed his orderly and injured many escorts.

The AIG was on his way to a meeting of Police strategic commanders summoned by Inspector-General of Police, Usman Alkali, in Abuja. Meanwhile, Alkali has ordered enhanced security at prison facilities and raids on suspected criminal cells in response to security glitches.

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One week after the Minority Caucus of the Senate gave President Muhammadu Buhari six weeks to address insecurity in the country or face impeachment proceedings, the Senate leadership, yesterday, engaged the service chiefs in a marathon meeting to find a lasting solution to the problem.

Speaking before the meeting went into a closed session, Senate President, Ahmad Lawan, said there is nothing to show that the huge investments in security was yielding result, given that the spate of terrorists’ attacks had become very recurring, with the terrorists now laying siege to Abuja, the Federal Capital Territory, with serious casualties.

Lawan led other principal officers of the Senate and chairmen of security-related committees to the meeting.

The Chief of Defence Staff, CDS, General Lucky Irabor also led the Chief of Army Staff, Lt. Gen Farouk Yahaya; Chief of Naval Staff, Rear Admiral Awwal Gambo, and Chief Air Staff, Air Marshal Oladayo Amao to the talks.

The Inspector-General of Police, IGP, Usman Baba Alkali; Director-General of the Department of State Service, DSS, Yusuf Magaji Bichi; Commandant-General of the Nigerian Security and Civil Defence Corps, NSCDC, Dr Ahmed Abubakar Audi, and Director-General of the National Intelligence Agency, NIA, Ahmed Rufai Abubakar, were also at the meeting.

The National Security Adviser, Major-General Babagana Monguno, retd was represented as he was said to be at the weekly Federal Executive Council, FEC, meeting.

Lawan, who noted that there is need for security agents to look into ungoverned spaces in the rural areas, said it had become so bad that Nigeria is no longer attractive for foreign direct investment.

Africa Daily News, New York

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