Former British Diplomat, David Roberts has advised Nigeria to improve its regulatory institutions, including measures to counter corruption in order to stabilize the economy, adding that “Nigeria’s economy is not a mess”.
According to Roberts in a statement, the Nigerian economy has increased by about 3.46 per cent, adding that the growth wasn’t easily achieved.
He stressed that Nigeria has the right policies required for growth and development provided efforts and steps are taken to build confidence in its capacity to regulate and renew efforts to identify and stamp out corrupt practices.
Nigeria’s economy is not a mess. There is nothing messy about 3.46 per cent growth. If attaining such growth was easy, then we would have that level of GDP development in Europe. But we don’t.”
“The only thing I would say is that Nigeria must improve its regulatory institutions, including measures to counter corruption.”
“If I were an investor and observed that the former head of the Nigerian Communications Commission is now the Chairman of the board of MTN, and sitting with him on that board was the former head of Nigeria’s Federal Inland Revenue Service and the former Minister of Communication Technology, along with a host of former top regulatory quango bosses, I would have concerns.
“If Nigeria can fix this, I do not see how the country will not benefit from a high influx of foreign capital.
“Money is attracted to domiciles with good policies and sound regulations.
“Right now, Nigeria has the policy. All it needs is to take steps to build confidence in its capacity to regulate and renew efforts to identify and stamp out corrupt practices,” he urged.
