Former Presidential candidate of the Labour Occasion, Mr Peter Obi has urged the Federal Authorities to create an surroundings conducive for international and native buyers via beneficial fiscal and financial coverage implementation.
Obi disclosed this in an announcement on his official X account on Friday.
He lamented that the insurance policies in place are chasing current multinational corporations away and discouraging different international and native buyers.
“Yesterday, I learn the disturbing audited report of Nestle Nigeria, which represented an enormous loss within the firm’s historical past in Nigeria.
“Of their current monetary report, nevertheless, following the collapse of the naira alternate price to the greenback, their income has gone right down to a 3rd of what it was in 2014, about $300 million, and worse nonetheless, they’ve now gone into an enormous lack of about $70 million.
“The implication of this unhappy result’s the message it sends to different such world corporations concerning the challenges of doing enterprise in Nigeria. It exhibits how our enterprise surroundings is deteriorating frequently, thereby discouraging different international, and even native buyers, from establishing within the nation.
“This is the reason I proceed to emphasise that the whole lot should be finished to encourage manufacturing within the nation.
“Furthermore, one of the simplest ways to create employment for our teeming youth is by creating an surroundings conducive and engaging for extra multinationals to spend money on Nigeria. As an alternative, our insurance policies are chasing away the present ones”, he wrote.
Obi, nevertheless, suggested the federal government to maneuver the nation from consumption to manufacturing by constructing a very good surroundings that can encourage international and native manufacturing corporations to do enterprise in Nigeria.
