Nigeria’s ranking in the Doing business survey is about 173. That means we are not considered a business friendly environment.
In an era of a loss of more than half of our income occasioned by low crude prices and a lack of a buffer, investments will suffer.
In the business world top deals are closed by the CEO. Investors are confident when a CEO is there personally to sign deals. A president is a CEO.
Last week the trade secretary of the UK travelled to Tata HQ in India to discuss the company’s plan to close Tata steel. She was trying to dissuade the company to save job loss of about 12k persons.
UK is certainly about a 120 position above Nigeria in the doing business rankings.
The US President has led efforts to save s Ford Plant moving to Mexico.
The challenge of the narrative of the President’s frequent travel has been benefits and purpose. For instance the Nuclear summit also had NIPC in tow to meet the big boys. A business roundtable was also held there.
We require funding for a deficit in our budget. China offers the lowest interest rates. Those funds are to target infrastructure projects that will create jobs.
The President no matter how well meaning cannot solve the fuel scarcity by staying home. Or increase power from Aso Villa.
We are in dire straits. We need investors and investments. We are competing with more stable economies for it. PMB can give assurances a VP can’t give. It is the way it is.
It is the same story in the private sector. CEO closes.
I know things are hard. But can a farmer stay home and expect crops to grow in a blight?
The benefits of these trips coupled with some hard decisions will bring a yield. A cocoa tree takes about 7 years to reach full maturity. Then you harvest.
Simmer on the travels. Had there been a rainy day fund, this journey might have been easier.