Foreign investors are leaving Nigeria
Foreign investors are leaving. Source: StearsBusiness

Do you believe that Nigeria has what it takes to prosper on its own?

People have many opinions on how we can reach economic success, and this administration is no different. Imposing trade restrictions to speed up domestic output is one favoured approach by President Buhari and his team. We've closed borders, banned food imports, and imposed restrictions on the use of foreign currency. It's a very inward-looking policy that isolates the rest of the world.

Fundamentally, there is a belief that Nigeria, with its 200 million people, doesn't really need foreign help. It doesn't take too much to see this. In recent times, we've seen how the government has alienated foreign companies. In 2015, the federal government handed MTN a $5.2 billion fine for not closing down unregistered sims. Less than four years later, the government handed another notice to the South African telecoms giant—this time for unpaid taxes

This story is only available to Premium subscribers Subscribe or sign in to finish reading

Not ready to subscribe? Register to read a selection of free stories

Tokunbo Afikuyomi, Jr.

Tokunbo Afikuyomi, Jr.

Read Latest

Is Nigeria still Africa’s oil giant?

PREMIUM - 01 JUL 2022

ASUU strike: what are the alternatives for Nigerian students?

PREMIUM - 30 JUN 2022

Ekiti state elections: what can we learn about choosing a governor?

PREMIUM - 29 JUN 2022

What is causing rising diesel prices in Nigeria?

PREMIUM - 28 JUN 2022