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Investors Are Slowly Losing Confidence In Nigeria.



Investors Are Slowly Losing Confidence In Nigeria.

A Civil Society Organisation (CSO), the Good Governance Initiative (GGI), has asked President Bola Ahmed Tinubu to review some of his policies in the nation’s interest.

Addressing newsmen on Wednesday in Abuja, the Executive Secretary of the CSO, Tony Luka, asked the Tinubu-led government should prioritize payment of contractors working on various infrastructural projects that would prevent flooding in the country.

He said the immediate past administration of President Muhammadu Buhari, through the Ministry of Works, had awarded contracts for road infrastructure, and some of the contractors completed their work. In contrast, others have done more than 50%.

Luka said, “The fact that Mr President, seen as a businessman that will provide a clementine environment for genuine businessmen to make their trade, could condone this is worrying to us.

Investors Are Slowly Losing Confidence In Nigeria.

“Should this not be immediately reversed with the contractors paid and those yet to finish the job getting full assurance of being paid upon completion, then we should be ready to see investors leave in droves.

“The ministry of work has awarded contracts worth N705bn to different contractors, bothering on infrastructures destroyed by the 2022 flood disaster. Most of the contractors have since mobilized to the site, and jobs are at various levels of completion.

“Government’s decision to take N500bn the budget will negatively impact the contract, and some commitments entered into with the federal government.”



Nigerian Naira Drops Further, Exchanges For N803/$1 At Official Window.

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