No Foreign Investment for Nigerian Electricity

Many Nigerians hopefully think that one day, the nation will attract enough foreign direct investment (FDI) to enable the develop development of electricity in the country. The hope is FDI will thoroughly refurbish, upgrade or expand the generation, transmission and distribution capacities of the [now] privatised Nigerian Electric Power Sector (NEPS) to provide customers with “constant electricity” supplies. Please think again! Foreign investors are not coming into Nigeria with $20 billion (at least) to revamp electricity in the country. Nigeria is in no shape to attract foreign investment, and it is unlikely it would have if things were going well. Does Grand Minister, Babs Fashola, disagree? The attraction of FDI is solely based on the assurance that if invested, it will yield ‘good secure’ profits for the investors. What other incentives are there for foreign investors to invest in Nigeria?

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Nigeria: Loans For Unsolicited Proposals

Nigeria: Loans For Unsolicited Proposals

How can a so-called modern nation be perennially managed since Independence by way of “unsolicited proposals”? President Muhammadu Buhari came to power on the slogan of “Change” but he is still governing Nigeria unrelentingly with the instrument of “unsolicited proposals”. When loans are used to fund “unsolicited proposals” it is no different from gambling, high-stakes gambling. Any government that manages its affairs and vision with total dependence on “unsolicited proposals” is devoid strategic planning, structural effectiveness and reliable outcome expectations beyond the short-term; such is governance by improvisation [haphazard] and instantaneous expediency. Is this truly the way forward for Nigeria? (more…)

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