Bureaucracy hampers foreign investment- Nigerian-American investor - Continentalinquirer

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Monday, 14 December 2015

Bureaucracy hampers foreign investment- Nigerian-American investor

Bureaucracy and nepotism has been identified as a major obstacle against foreign investment and sustainable development in the country.
Environmentalist and CEO of Ecologistics Integrated Service Ltd, Dr. Paul Abolo, made this assertion in a chat with Vanguard noting that he and other foreign investors came up with a climate vulnerability reduction plan for Nigeria to re-frame the solid minerals opportunities.
Abolo, who had lived in the Unites States for about two decades as an entrepreneur said that
government bureaucracy frustrated him and his foreign partners on several occasions who were willing to create jobs and advance sustainable development business practices for productive growth in resources utilization.
According to him, he and the American foreign investors met with the Minister of Minister of Solid Minerals and Steel Development and the Permanent Secretary of the Federal Ministry of water resources on separate occasions and they liked their ideas but bureaucracy stalled the project.
The Colorado Technical University trained environmentalist affirmed he analysed and liked the Subsidy Reinvestment and Empowerment Programme (SURE-P) and invited his friends in the United Stated but were frustrated in Nigeria when the made their presentations which was initially accepted and lauded.
Last year or rather two years ago, I began to get more involved in the government's activities and by the time the government then, launched the SURE P programme, I was in Abuja and I followed that SURE P and I did alot of analysis on it so when I got back to the United States, and I called my friends to have a good thing doing for us, he said
We looked at the job creation, promises that were made, and I looked at alot of things and the environmental aspects, we came up with a climate vulnerability reduction plan for Nigeria. There after, I took a long study about how to re-frame our solid minerals opportunities in Nigeria.
These are government initiatives and we started approaching the federal government. So Abuja was just like next door to me because we go there frequently. I can tell you that Nigerian bureaucracy did not allow us to progress.
He added: “On two occasions I had friends from the United States and they came down to Nigeria-the federal ministry, we even did a solar water purification project. We made a presentation to the then Permanent Secretary, Federal Ministry of water resources, they liked it.
The Perm Sec appointed the directors general to work with us and was suppose to give us concession for the other processes. Couple of days, we had to come back several times without any action taken and you know how things happen in Nigeria. So we got frustrated.
Last year, we we did a presentation to the Federal Ministry and the Minister of Solid Minerals and Steel Development ,he also liked the presentation. He set up a committee. But the committee saw me as an enemy and at the end they just allowed me to move forward. Each time that I go ahead and develop this I got frustrated with the project but not frustrated as an individual.
Everything here has to do with how close you are to the government. You come in very happy as a Nigerian citizen and you want to contribute and you manage to get it to the right channel and you do your work clean, and later find out that there is still that element that is drawing us back as a nation. So what happens to our foreign counter part?
So people would like to know how did you get here and all of that. Also one has to be very careful in the process of explaining who you are and how you came in , you will not compromise. It is one of the basic things that I and my partners do.
We agree that we don’t get compromised we are actually bringing solution to Nigeria. Our first focus is how to impart on the people and the country of course we can make money but that's not the issue so that the part of issues we have”


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