Home News Tackling corruption will attract foreign investors to Nigeria – investor

Tackling corruption will attract foreign investors to Nigeria – investor


Singapore  -A businessman in Singapore, Mr Bill Foo, has expressed optimism that ongoing effort to combat corruption in Nigeria will attract more foreign investments to the country.
Foo, who is the Advisor of the Board of Directors of Swiber, a big business conglomerate in Singapore, stated this in an interview with the News Agency of Nigeria (NAN) on Monday in Singapore.
He said that corruption had remained a major hindrance to Nigeria’s economic development, adding that most entrepreneurs had shied away from investing in the country because of corruption.
He, however, said that he would not say that Nigeria was corrupt because people were saying so.
According to him, if it has been corrupt in the past and there are signs that the country is changing, it will only take some time to change.
“I know that Nigeria can be one of the most exciting places in the world to invest; Nigeria has resources, brains and if you have started changing, am going to invest in Nigeria.
“I have avoided investing in Nigeria in the past 50 years but now I am going to start investing in Nigeria because of the possible changes,’’ Foo said.
He recalled that 50 years ago Singapore was a corrupt country and citizens were not honest, adding that due to change, the country had become one of the most successful countries in the world.
He therefore maintained that if Singapore could change from corruption, Nigeria could also change for the better, with some effort.
He said that Nigeria-Singapore business and investment forum had made huge openings in different areas of investments for Nigeria.
“I know there are going to be openings for Nigeria; a lot of investors are going to be investing in Nigeria, and I will be sending some of my money to Nigeria soon,’’ he said.
Foo, however, declined to disclose his investment interest in Nigeria.
Similarly, another Singaporean investor, Mr Louis Tay, said that greater business opportunities abound in Nigeria, especially with the ‘’change’’ posture to activities in the country.
Tay, who is the Managing Director, Surbana International Consultants Ltd, told NAN that with the just-concluded Nigeria-Singapore business forum, there was hope for the country in new negotiations, partnerships and investments.
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“I think this forum has created rooms for investors to invest in Nigeria,’’ he said. (NAN)

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