By Gabriel Ewepu

ABUJA – AS the economic indices indicate poor improvement along with failing infrastructure across the country, an economic expert and agribusiness investor, Dr Thaddaeus Thompson, weekend, called on the Tinubu-led administration to first ensure the urgent strengthening of the Naira and frontally tackle the protracted power challenges to attract investors locally and internationally.

Speaking with Vanguard, Thompson who is the Chairman and Founder of SWEER Global Farms, said the basic thing to do now by the Federal Government is to come up with lasting strategies to ensure the sustained appreciation of the Naira, therefore, warned that investors will not come to invest their US Dollars and run into losses by not recouping their investment and repatriating their profits.

Meanwhile, he pointed out that running abroad to look for and woo investors is not the first thing the government should do, rather should localize its monetary policies deliberately to boost the Naira value and also ensure there is steady public power supply across the country including security, which are major factors investors consider and analyze before putting in their money into the various areas of their business interest.

He said: “The truth of the matter about wooing investors by the government to come in to invest in the Nigerian economy is not the priority right now because no investor will come with his Dollars to invest in an economy whose Naira is devalued and weak.

“Another issue is the investors cannot transfer their money out of Nigeria and so what is the point for them to come and put their money in the Nigerian economy.

“Basically, investors want to put in their money where they can have high return on investment and send back home but the situation with the economy here is not really healthy for them to take the risk they fully know about based on the precarious situation the economy finds itself.

“The federal government needs to first fix the issues affecting the Naira value then investors would talk with the government if not they would not come.

“The currency needs to bounce back if not do not expect investors to come in do anything.”

Meanwhile, the SWEER Global boss also lamented the poor State of power supply, which is a critical infrastructure in ease of doing business.

He also urged the government to fix the protracted power issues to make the business environment conducive for investors.