Peter Obi, former Governor of Anambra State and presidential candidate of the Labour Party, has lamented the decline in Foreign Direct Investment (FDI) in Nigeria, stating that it is a major obstacle to economic growth. Obi highlighted that FDI inflows dropped significantly due to insecurity, policy inconsistency, and corruption. He stated, 'Without urgent reforms to restore investor confidence, Nigeria will continue to struggle economically.' He called for a strategic approach to attract foreign capital through improved security and transparent governance.
Punch Newspapers (MobilePunch) The National Pension Commission (PenCom) and organized labour are at loggerheads over unresolved issues concerning pension funds management in Nigeria. Labour unions have expressed dissatisfaction with the commission's policies, alleging lack of transparency and failure to prioritize workers' welfare. A strike action is imminent if negotiations fail to yield results in the coming days. Key stakeholders have been called to intervene to avert a nationwide industrial action that could disrupt economic activities. The disagreement centers on the management of over N17 trillion in pension assets, with labour demanding better accountability and improved returns for contributors.
Punch Newspapers (MobilePunch) The Nigerian Economic Summit Group (NESG) reiterated that industrialisation remains a cornerstone for Nigeria’s economic prosperity. The group stressed the importance of creating an enabling environment for industries to thrive, which would lead to job creation and economic diversification. They called for urgent policy reforms to address challenges such as power supply and access to finance. This message was reinforced in multiple communications by the NESG to drive home its significance.
Punch Newspapers (MobilePunch)