ROI in Nigeria is highest in the world


May 18, 2006/businessday




International investors that participated in the recently concluded second economist conferences roundtable in Abuja organised by the Economist Intelligence Unit (EIU), have identified Nigeria\'s 35 percent return on investment as the highest in the world.

Accordingly, these participants have called on the Federal Government to pursue an aggressive positive image campaign across the globe in its efforts to attract foreign direct Investment into the country. Also, to ensure that the economic reform was not reversed after 2007, the government has been urged to fast-track the passage of the fiscal responsibility bill, the procurement bill and several other bills on tax reform.

According to senior economist of the economist intelligence unit, David Cowan, \"potential rewards for investors do remain high, but the government needs to pick up the pace to ensure that the course for reform becomes irreversible.

\"One year on from economist conferences\' first business roundtable, held in January last year, major progress has been made in bank restructuring and with the debt write-off buy back. Also, Nigeria is continually being identified by business leaders as a future hub for West Africa, he said.

However, the senior economist mentioned that there was need to increase the pace of tax reforms, the restructuring of the energy sector, especially, the electricity sector\'s privatisation which he identified as key to a vibrant economy and private sector operations.

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