Wednesday, February 1, 2023
  • Home
  • TechBooky
  • Business
  • TV
  • Startup
TechBooky Africa
  • Home
  • TechBooky
  • Business
  • TV
  • Startup
  • Fintech/Finance
  • Login
No Result
View All Result
TechBooky Africa
Home Economy

Ex-CBN Deputy Explains Why Foreign Investors Choose Ghana Over Nigeria

Raymond Egbadu by Raymond Egbadu
October 5, 2021
in Economy
0

Former Deputy Governor of the Central Bank of Nigeria — Tunde Lemo — has given underlying reasons why foreign investors now prefer Ghana to Nigeria. Some of the factors he highlighted were infrastructure, insecurity, difficulty in doing business and many others.

Related posts

Tech Space In Lagos And Four Other African Countries Worth $6 Billion, Report Says

Tech Space In Lagos And Four Other African Countries Worth $6 Billion, Report Says

October 11, 2021
CBN Postpones e-Naira Launch, Asks Nigerians To Remain Calm

CBN Postpones e-Naira Launch, Asks Nigerians To Remain Calm

October 2, 2021

Lemo — in an interview on Channels Television’s “Business Morning” programme — disclosed these reasons.

“Our infrastructure is in a deteriorating condition, it has heavy negative impacts. For example, our textile industry attracted merchants from China and India during our first ten years of Independence, now it’s nothing to write home about,” he expressed.

“At the height of its operations, Nigeria has more than 170 textile companies across the country. Today, only six or seven of these companies are still barely in existence — the rest have been shut down.”

“The reason is that the infrastructure in those countries is far better than what we now have here. We need to ensure the availability of resources beyond the Government’s inputs, and then harvest these resources and utilize them in reinvigorating our infrastructure. Although in the aspect of doing business efficiently, we have shown significant improvement, however, are we as competitive as other African countries? When we compare our nation to others like Ghana, Kenya and Egypt, it is obvious that we are greatly lagging. You may be surprised that Ghana is considered a better destination for foreign investors than Nigeria,” he said.

“Of course, as Nigerians, we take pride in saying that the ease of doing business in our country has significantly improved but when you are moving from the 90th position to the 70th, while our peers are occupying the top four positions, you realise that we still have a long way to go. We must ensure that we have a much more effective and efficient public sector system. We could look at the top three African countries and set a target for ourselves,” he noted.

“The level of competition in the global economy increases exponentially and every nation is working on improving its infrastructure to access global capital. Aside from that, our government must put extra effort into protecting the security of lives and property. Unfortunately, the past two years have been very rough and I wish to plead with political forces to adopt a bi-partisan approach; let all hands be on deck as we seek solutions,” the former CBN deputy said.

He also noted that the current violent attacks in the Middle Belt are responsible for the inflation of food prices and urged the government to create an optimal economic system.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Share 0
Tags: economyghananigeriatunde lemo
Previous Post

Facebook Outage: Engineering Team Disclose Reasons

Next Post

Opera Mini Launches Chat Service HYPE, Records 2.4 Million Activations

Next Post
Opera Mini Launches Chat Service HYPE, Records 2.4 Million Activations

Opera Mini Launches Chat Service HYPE, Records 2.4 Million Activations

RECOMMENDED NEWS

MTN Uganda Launches Business Internet for SMEs Data Inclusion in East Africa.

MTN Uganda Launches Business Internet for SMEs Data Inclusion in East Africa.

7 months ago
Vodacom Announces R500 Million Investment for Digital Inclusion in the Western Cape, South Africa.

Vodacom Announces R500 Million Investment for Digital Inclusion in the Western Cape, South Africa.

7 months ago
October 31st Deadline: Customers Should Link Their NIN To Sim, NCC Advices

October 31st Deadline: Customers Should Link Their NIN To Sim, NCC Advices

1 year ago
Airtel Africa Overlaps Dangote Cement To Gain More Than N5 Trillion Market Capitalization Within the Nigerian Stock Exchange Marketplace

Airtel Nigeria Cyberattack Freight — Airtel’s Instagram Account Denied Log-In Access

10 months ago

FOLLOW US

  • 70.9k Followers

BROWSE BY CATEGORIES

  • App
  • Banking
  • Business
  • Cryptocurrency
  • Cybersecurity
  • East Africa
  • Economy
  • Enterprise
  • Event
  • Fintech/Finance
  • Funding
  • Gadget
  • Government
  • Insight
  • Internet
  • Investment
  • Nigerian/African Tech
  • North Africa
  • Personnel
  • Research/How to do it
  • Service
  • Social Media
  • Southern Africa
  • Startup
  • Telecom
  • Transport
  • Uncategorized
  • West Africa

BROWSE BY TOPICS

5g acquisition africa app banking CBDC cbn central bank of nigeria cloud cryptocurrency Crypto market cybersecurity e-commerce e-naira east africa ecommerce economy enterprise fintech funding Fundraising google government inec internet investment kenya License microsoft mtn ncc nigeria Partnership Regulator remittance ride hailing seed social media software south africa startup technology telecom twitter west africa

Featured Categories

App
19 Posts
View Posts
Banking
17 Posts
View Posts
Business
7 Posts
View Posts
Cryptocurrency
27 Posts
View Posts
Cybersecurity
13 Posts
View Posts
East Africa
23 Posts
View Posts
Economy
18 Posts
View Posts
Enterprise
31 Posts
View Posts
Event
9 Posts
View Posts
Fintech/Finance
83 Posts
View Posts
Funding
29 Posts
View Posts
Gadget
11 Posts
View Posts
Government
55 Posts
View Posts
Insight
4 Posts
View Posts
Internet
20 Posts
View Posts
Investment
18 Posts
View Posts
Nigerian/African Tech
31 Posts
View Posts
North Africa
2 Posts
View Posts
Personnel
2 Posts
View Posts
Research/How to do it
2 Posts
View Posts
Service
8 Posts
View Posts
Social Media
19 Posts
View Posts
Southern Africa
17 Posts
View Posts
Startup
83 Posts
View Posts
Telecom
35 Posts
View Posts
Transport
10 Posts
View Posts
Uncategorized
2 Posts
View Posts
West Africa
41 Posts
View Posts
No Result
View All Result
Loading
  • Amazon & Stripe
    Stripe & Amazon Iterated Partnership Deal Will Integrate FinTech & Cloud Services For Global Penetration.
    • January 25, 2023
  • Airtel eSIM
    Airtel Launches eSIM Technology In Nigeria
    • January 25, 2023
  • Mafab Communication Debut 5G Cellular Data In Nigeria.
    • January 24, 2023
  • Spotify
    Tech Retrenchment: Spotify Has Prepared To Cut It Global Workforce This Week.
    • January 24, 2023
  • Kuda Bank
    The SBP Issues Kuda Bank FinTech License to Operate In Pakistan.
    • January 24, 2023
TechBooky Africa

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc.

Follow us on social media:

Recent News

  • Stripe & Amazon Iterated Partnership Deal Will Integrate FinTech & Cloud Services For Global Penetration.
  • Airtel Launches eSIM Technology In Nigeria
  • Mafab Communication Debut 5G Cellular Data In Nigeria.

Category

  • App
  • Banking
  • Business
  • Cryptocurrency
  • Cybersecurity
  • East Africa
  • Economy
  • Enterprise
  • Event
  • Fintech/Finance
  • Funding
  • Gadget
  • Government
  • Insight
  • Internet
  • Investment
  • Nigerian/African Tech
  • North Africa
  • Personnel
  • Research/How to do it
  • Service
  • Social Media
  • Southern Africa
  • Startup
  • Telecom
  • Transport
  • Uncategorized
  • West Africa
  • Home
  • TechBooky
  • Business
  • Video
  • Contact Us

© 2022 Techbooky Africa .

No Result
View All Result
  • Home
  • TechBooky
  • Business
  • TV
  • Startup

© 2022 Techbooky Africa .

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In