Nigeria’s Hunt for Foreign Investors and America’s Security Warnings
So, in the past week, three big countries have been like, ‘Hey, don’t go to Nigeria!’ The United States, the United Kingdom, and Canada have all issued warnings about travelling to or staying in Nigeria. And get this, the US has done it twice in just 45 days!
Now, here’s the thing. Nigeria’s been trying to attract foreign investors, right? But at the same time, the US is telling its citizens to stay away from certain parts of Nigeria. It’s like, ‘Come invest in Nigeria, but also, don’t go there.’
The stats show that the US is still the biggest investor in Nigeria. Like, in the second quarter of 2023, the US put in the most money, followed by Singapore and South Africa. But then, they’re also saying, ‘Don’t go there, it’s not safe.’
The US is all, ‘Crime, terrorism, civil unrest, kidnapping, armed gangs – it’s all happening in Nigeria.’ They’re warning about violent crime, kidnapping for ransom, and terrorist attacks. And they’re not just saying it once, they’re saying it twice in less than two months!
And get this, while all this is going on, Nigeria’s President Tinubu and his crew are out there trying to get people to invest in Nigeria. They’re at the United Nations General Assembly, talking to everyone about how great Nigeria is for investment. But then, the US is like, ‘Hey, there’s a credible threat to major hotels in Nigeria.’ It’s like, ‘Come invest, but also, be careful where you stay.’
And it’s not just the US. The UK and Canada are also saying, ‘Be careful in Nigeria, there’s a high risk of terrorist attacks.’ It’s like, ‘Yeah, we want you to visit, but watch out for terrorists.’
So, it’s a bit of a mess, right? Nigeria’s trying to attract investors, but these warnings are making it look pretty bad. And when the US says something, everyone listens. It’s like a big red flag to the whole world.
And here’s the thing, the US is the biggest foreign investor in Nigeria. They trade a lot with Nigeria, and they’re all about keeping their citizens safe. And let’s be real, no one wants to invest in a place that’s not safe.
So, the whole ‘come invest in Nigeria’ thing might not be working out so well right now. Let’s hope other countries don’t follow the US and start warning their citizens too. That would be a real problem.
– Okeke, Former Chief Economist of Zenith Bank Plc