A renowned academic in the Institute of Credit Administration, Professor Chris Onalo has disclosed that there are massive investment opportunities awaiting indigenous and foreign investors if the current administration would be proactive in matters relating to the nation’s economy.

Prof. Chris Onalo

Onalo, who made this declaration in a chart with media men Lagos, said Nigerian economy represents a huge opportunity virtually for business investors and international community as a developing country, adding that the country has enough space for everyone being a country that is massive in population.

Against this backdrop, Onalo urged investors to explore these inherent opportunities in the Nigerian economy just as the government would provide the enabling environment, right policy that would encourage individual and foreign investment.

He, however, assured that the administration of President Buhari would ensure that the proper environment is created for business to thrive in Nigeria.

On how to manage risk associated to business dealings, Prof Onalo said there is attendant risks wherever humans are existing despite opportunities that may have presented itself. “We have human made risks as well as natural made risk and all of these must be identified and guided against so that investment would be influenced by stakeholders in any way they can be protected”.

“So, I see Nigeria becoming a great country economically, and of course the economy is in the hands of private sector, those who go about their businesses, putting food on their table and looking to live in a good environment. Of course democracy will thrive and continue to be there.

However, I see a great light at the end of the tunnel for Nigeria”.

On investment opportunities in the telecom sector, Onalo said the sector has made commendable impact on job creation even as the operators are smiling to the banks despite the operational challenges they had to contend with. The sector is lucrative. I think they have contributed a great deal to the economic emancipation of the country which signals that many more of such investments are required”, he said.

The telecom sector represents a huge market and job creating sector for Nigeria. From what we have heard, much investment is still required in that sector in the area of satellite that are yet to be exploited. I think that there is need for massive diversification including our individual and corporate thinking as to what sector of the economy represents high degree of profit”, he said.

Professor Onalo expressed optimism that government would be able to give up back up policies that would bring about more of such revelation as regards profitability that is inherent in a particular sector in the economy. He further enthused that what is needed at this moment at this level of our development is the right policy dimension that would propel people to move fast into these opportunities and good lending policies that would boost investment opportunities.