Nigeria ranks 4th with 35% on investment return in the world – BOI MD

The Acting Managing Director of the Bank of Industry (BOI), Waheed Olagunju, said Nigeria ranked fourth with 35 per cent on return investment in the World.

Mr. Olagunju said this on Saturday in Lagos on the sidelines of BOI media parley titled: “Sustaining Nigeria’s industrial sector growth through impactful partnership’’.

He said that a lot of countries are in competition for investment resources.

According to Mr. Olagunju, the return on investment is much higher in Nigeria than other countries.

He said that return on investment should not be taken for granted, adding “we should try and de-risk our environment, improve on climate and continue to take measures by increasing our ranking in doing business.

“Industrialisation is a multi-faceted process, no single agency can capsulate industrialisation of any country, so all hands must be on desk.

“In terms of investment returns, we have rank number four with 35 per cent.

“Nigerians might go to other countries where they have 15 per cent return on investment where the risks are not has high as Nigeria.

“So we have to put all those things into consideration by ensuring that we promote industrialisation and transform the Nigeria economy within the shortest time possible.’’

He said that if those things were not done, Nigeria may not be able to harmonise the challenges in the country, particularly that of unemployment.

Mr. Olagunju said that Nigeria’s population was growing; therefore, there was the need to take a quick decision to remedy the challenges.

“We have lost many arms of development in our country; all hands must be on desk for us to achieve our desired economy and developmental goals. (NAN)