President Buhari and Netherlands Prime Minister Mark Rutte during the former's visit to The Hague in 2018/Photo: Nigerian Presidency

Insecurity discouraging investments in Nigeria – Netherlands

The widespread insecurity in Nigeria is scaring away prospective investors. Speaking in Abuja on Tuesday, the Netherlands Ambassador to Nigeria, Harry van Djik, said the Nigerian government should address insecurity as this was a crucial factor that had been affecting investment in the country’s economy.

Djik spoke during a visit to the Minister of Industry, Trade and Investment, Adeniyi Adebayo. The Dutch envoy also expressed the concerns of international investors about the country’s foreign exchange rate, which has been fluctuating in recent months with naira repeatedly losing value against the dollar .

The ambassador also spoke on the need to revive the bilateral consultation between Nigeria and Netherlands, noting that the spread of the COVID-19 pandemic forced a postponement of further meetings.

On his part, Minister Adebayo assured investors from the Netherlands that the Federal Government was addressing the issue of insecurity across the country.

The minister said President Muhammadu Buhari recently changed his service chiefs and took other security measures to assure Nigerians and the business community of his desire to ensure that the country was safe for all and sundry.

He also said his ministry had set up a working group on the bilateral consultation between both countries and expressed hopes that before the end of the year, the meeting would be revived.

Adebayo also told his guests that he had got commitment from the governor of the Central Bank of Nigeria on the issue of forex, as efforts were being made to stabilise the exchange rate of the naira.

Kola Tella

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