NAN-HE-18

Policies

By Lucy Nwachukwu

Abuja, June 7, 2017 (NAN) A legal practitioner, Nnedinma Ofudu has advised the Federal Government to formulate a legal framework and policies that will promote business environment in the country.

Ofudu told the News Agency of Nigeria (NAN) in Abuja that such policies would attract more investors into the country, especially in the area of infrastructure development.

“My perception is that the options for legal recourse for private investors are not very satisfying.

“If a potential investor is considering putting in their money in Nigeria, they want to be sure that they are protected.

“They want to be sure that if things go wrong, that they can rely on the court system for compensations or other kinds of recourse.

“Also, in my understanding of what investors go through, I do not think that they are very encouraged that the legal system will protect them in the event of any contractual breaches.”

Ofudu reiterated the need for the Federal Government to pay more attention to Nigeria’s legal system to accord more confidence to investors to invest their businesses in the country.

“The Nigeria infrastructure has not improved and is yet to develop, in spite of its economic growth over the years.

“Under investment in infrastructure development could be bane to Nigeria’s vision of becoming a top 20 economy by the year 2020.

“Also, for Nigeria’s economic growth to translate to economic development, factors such as infrastructure, poverty and employment rate, among others needs to be improved,’’ she said. (NAN)

LCN/OFN/EEE

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Edited by Felix Nwadioha/Ese E. Ekama