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More reasons have emerged on why foreign direct investment (FDI) has ebbed since last year to date.
Leading maritime stakeholder and President of National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Mr. Lucky Amiwero Monday listed three key factors that are considered by serious investors before coming to any country including Nigeria.
In his lead paper at the three-day training of the Federated Maritime Media Chapel (FMMC) of the Nigerian Union of Journalists which opened at Apapa, Amiwero said the factors include predictability of the nation’s forex, consistency in government’s policy direction and transparency in official activities.
He said the near absence of the three factor have continued to weaken the expected speed in the growth of FDI, saying the economy is worst hit during recession.
Explaining more on his lead paper titled; ‘Concept of Concession and Components of Port Regulation’, the managing director of Eyis Resources Limited said more is needed to be done by maritime agencies to deepen the ease of doing business at the ports.
He said due to policy summersaults in the last one year on import and export, several terminals are now shadows of themselves as cargo throughput have dropped and the implications include loss of jobs.
He said time has come for the review of all port concessions as many of them had been wrongly renewed when their agreement was Build, Own, Operate and Transfer (BOOT).
Over 115 journalists covering maritime in Lagos attended the opening session.
Earlier in his welcome address, the Chairman of the Chapel, Mr. George Umunnakwe said the training which is the first in the series will continue so as to build the capacity of journalists.
He called on members to always practice journalism with the highest respect it deserves, saying the Chapel will continue to protect the interest of members at all times.
He called on maritime stakeholders to assist journalists especially when they call at critical moments for confirmation of facts and figures, saying it will enable reporters to present facts better.
In his comment, the founder and publisher of Business Hilights, Prince Stan Okenwa called on members to support the Chapel in all its activities.
Okenwa, who doubles as the Assistant Secretary of Association of Maritime Journalists of Nigeria (AMJON) called on all AMJON members to embrace the new FMMC and avoid acts capable of creating disharmony in the new body.
He said “Elections has come and gone, this is time to rebuild and grow the Chapel. This is not the time to fly around petitions that will only deepen enmity rather than growing sportsmanship”.