Ibru urges more investment in infrastructure

A key player in the nation’s hospitality industry, Dr. Goodie Ibru, on Saturday called on the Federal Government to invest more on infrastructure to improve the economic sector and attract more Foreign Direct Investment into the country.
Ibru told the News Agency of Nigeria on Friday in Lagos: “I believe they have come up with programmes that they are pursuing and in the fullness of time, it will translate into an improvement in the economy.
“Infrastructure is very important and my advice to the government of today is to take the issue of infrastructure very seriously.
“Luckily, the price of oil is going up and, therefore, we hope to generate more revenue.
“I will suggest that a substantial or reasonable part of it could be used to develop infrastructure.
“If we do that, the cost of doing business in Nigeria will reduce.
“In order words, we will be able to produce more cheaply and that would mean affordability of products produced in Nigeria for Nigerians.
“Also, we will be more competitive in the international market.
“It will also encourage entrepreneurs; people who want to set up their own business.
“I believe if the infrastructure is tended to and is improved, the economy will grow; in fact, we will have rapid economic growth, which will create employment for youths
Ibru, who is a past President of the Nigerian Stock Exchange, said it would help reduce the issue of insecurity and street crimes, as youths would be gainfully employed and avoid anti-social activities.
He said he was optimistic that the tireless efforts of the government toward reviving the economy would yield positive results.
NAN.