Investors waiting for Buhari’s economic policy—British expert

ABUJA—A British financial expert, Mr. Gerard Lyons, has urged the administration of President Muhammadu Buhari to come up with a clear economic policy direction to enable international investors take investment decisions on Nigeria.

President of Nigeria Muhammadu Buhari addresses the 70th session of the United Nations General Assembly September 28, 2015 at the United Nations in New York. AFP

President of Nigeria Muhammadu Buhari

Delivering the keynote address at the Africa Pension Summit in Abuja, yesterday, Lyons also advocated that part of the nation’s almost N5 trillion be invested in infrastructure, especially energy, roads and rail lines.

On the new administration’s economic policy outlook, the speaker said that though the administration had claimed that there was a clear planning process behind the scene, it must the noted that lack of clarity about the vision and the direction of the government economic policy was not good for the country.

He said: “A great vision is the strength of an economy” he said, adding that the lack of appointment of key government officials was also a concern to international investors.

He said it was not possible for international investors to turn a blind eye on Africa, but noted that Nigeria, although with a large market, needed to come up with policies that would specifically attract investors.

He noted that African nations must increase intra-regional trade in order to form stronger national economies that would impact more positively on the people of the region.

On pension funds, Mr. Lyons suggested that part of the large pool of funds be invested in hard infrastructure, which in themselves would boost the nation’s economy.

Such investments, he said, should be in projects that could guarantee maximum dividend, and he identified toll roads, rail, housing and electricity power projects as some of such facilities in which pension funds could be invested.