AUSTRALIA: Australia-based Nigerian publisher of 9News Nigeria and Chief Executive Officer (CEO), of Nine Communications Nigeria Limited, Mr. Obinna Ejianya, has urged President Bola Ahmed Tinubu to prioritise the stability of electricity supply and the curbing of insecurity in the country.
He said he believed that focusing on these issues was more important than frequent overseas trips aimed at attracting foreign investors to Nigeria.
In a post he made on Wednesday entitled: ‘President Tinubu Should Prioritise Power and Security Stability Over Chasing Foreign Investors,’ on his official Facebook and Twitter accounts @obinna_ejianya, Ejianya emphasised that by achieving consistent power supply and addressing security concerns, Nigeria would naturally attract foreign investors.
He highlighted that an enabling environment was crucial for attracting foreign investors and cited Nigeria’s advantageous demography as a significant factor.
According to him, “President Bola Ahmed Tinubu should shift his focus towards addressing the issues of power supply and insecurity in Nigeria, rather than spending time and resources on attracting foreign investors.
“Prioritising power supply and security will create a conducive environment for both local and foreign investors, ultimately driving economic growth in Nigeria.
“Stable electricity power supply and adequate security are some of the major quintessential factors that not only create an enabling environment, but also help to stabilise the local economy, thereby providing a lucrative positive force that organically drives foreign investors to the country.
“The recent success of Aba, Abia State, in achieving a stable electricity supply serves as a valuable lesson in this regard.
“The president was the one who inaugurated the Geometric Power Plant in Aba, 20 years after it was initially initiated by Barth Nnaji, a former Minister of Power.
“Governor Alex Otti of Abia State commended the project, attributing its success to the power of dreaming. He stated that with the power project in Aba, the city is now open to national and international business opportunities.
“The people of Aba, Abia State, are currently celebrating uninterrupted power supply for 48 hours, thanks to the Geometric Power Plant installation. Since one of the four turbines at the plant was activated, certain areas of Aba have been enjoying continuous electricity.
“Following the activation of a stable power supply by Geometric Power, investors have already started showing interest in Aba. Taiwanese Directors of Maxxis Tyres recently visited Ukanku Community in Ukwa East LGA, Abia State, to inspect potential sites for establishing a full-scale tire production plant.
“This immediate response from investors highlights the positive impact of 24-hour electricity in Aba and its surrounding areas. The production range of the proposed plant would include motorcycle/tricycle tires, car tires, light trucks, ATVs, trailers and more.
“While I commend the president for his resolute disposition in fixing the economic crisis in Nigeria, I still earnestly recommend that President Bola Ahmed Tinubu should prioritise crucial aspects such as power and security, instead of frequent international travels that are purportedly aimed at wooing foreign investors.
“By ensuring security and a consistent power supply in Nigeria, Tinubu can organically attract foreign investors without the need for excessive expenditure on foreign trips with large entourages. Nigeria’s large population makes it an attractive destination for investors.
“The lack of a stable power supply, insecurity, and other existential problematic concerns are deterring foreign investors and causing frustration among local investors. Prioritising power supply and security will create a conducive environment for both local and foreign investors, ultimately driving economic growth in Nigeria.”
