Business News of Wednesday, 6 August 2025

Source: www.punchng.com

FG urged to fix security for diaspora investment

President Bola Tinubu President Bola Tinubu

A Nigerian entrepreneur based in Canada, Mr Oluwafemi Ayeyemi, has called on the Federal Government to tackle the challenge of infrastructural deficit and insecurity plaguing the country, saying that these two major problems are a big challenge to the willingness of the citizens abroad to invest in the country.

Mr Ayeyemi said that Nigeria is no doubt a land full of immense opportunities for investors, but the challenge of bad roads, erratic power supply and, above all, the challenge of insecurity always makes people in the diaspora develop cold feet when it comes to taking a giant leap to investing in the country.

The Ogun State-born entrepreneur, however, said that these challenges notwithstanding, there is a strong need to join forces with the government in developing the country, particularly in the area of poverty reduction through job creation; hence, the need for the people in diaspora to brace up and latch onto the investment opportunities in the country.

Mr Ayeyemi disclosed this on Monday after conducting the journalists round his ongoing expansive N3bn hotel project sitting on two hectares of land at Obada, Abeokuta.

The three-storey building boasts 62 rooms, a standard swimming pool, and event halls of different capacities, among other facilities.

Ayeyemi explained that he started the project in 2017 to complement the efforts of the government in job creation and poverty reduction.

He added that over 300 workers are currently working on the site and that by October, when the project, which is currently 80 per cent completed, will be inaugurated, at least 100 people will be gainfully employed.

Ayeyemi explained, “The project started around 2017, and it is about complementing what the government has been doing to increase job creation and beat the poverty challenge.

“As an entrepreneur based in Canada, there is no doubt that Nigeria boasts of immense opportunities that could be tapped for investment, but the challenge of infrastructural deficit and insecurity is one of those things discouraging people in the diaspora. I plead with the government to tackle this challenge with all the seriousness that it deserves because this country is home to so many of us, and there’s no place like home. We are also ready to do our bit to keep supporting the government to do so much more for the people.”

He lauded Governor Dapo Abiodun for his modest achievements in uplifting the welfare of the residents of the state, begging the governor to help fix the less than 2 km road leading to the hotel to help boost lots of business ventures along this corridor and make life more comfortable for the residents of the community.