Dr Titus Okunronmu, a former Director at Nigeria’s apex bank, CBN, has advised the Federal Government to address the security challenges in the country to encourage Foreign Direct Investment (FDI).
TBI Africa said Okunronmu, a director in the Budgetary Department of the bank, gave the advice in an interview with the News Agency of Nigeria (NAN) in Ota, Ogun on Thursday.
The former CBN director said that the advice had become necessary in order not to discourage foreign investment flow to the country.
“No reasonable foreign investor will be willing to invest in an economy where various security challenges occur on a daily basis,” he said.
He identified some of the security challenges keeping away foreign investors from the country to include kidnapping, terrorism, banditry, and the activities of herdsmen.
Okunronmu further said that the aforementioned issues required urgent responses from the government so that the lives of Nigerians and that of their foreign business partners could be secured.
He also urged the Federal Government to deliver to the people better dividends of democracy.
