LOW LEVEL OF INVESTMENT IN NIGERIA.
For years Nigerians had been groaning and crying out loud against low level of investment. It is apparent that low level of investment lead to unemployment, low development and upsurge of crime rate. Causes of low level of investment in nigeria is due to many factors.
Firstly it is obvious that social amenities such as good roads, constant power supply, security, tourism etc entice and encourage investor into a given country which increase their standard of living, creating jobs opportunity and making life easier. But here in Nigeria the case is different because of the inability of our leaders to provide necessary amenities.
Multifarious infant industries had folded due to adulterate power supply and high cost of production. The cost of production is so high that they have to spend much money in the running of their day to day business resulting to lose of huge amount of money in the lucrative business.
Insecurity is also a factor discouraging investor into Nigeria,since maximum security is not guarantee. Violence, massacre and bomb blast have always been a discussing issue everyday. Investor can easily be rob and kill in due course, because Nigeria is a criminal ranking state where hijacking of properties, fraudulent, assassin and robbers are found. The dubious and cunning mind of Nigerians scare investors away.
Moreso, the inaccessibility to good road discourage investor to partner with us, there is always hold up of vehicle on our road making an hour distance journey becoming four or more. Goods can not be easily deliver to their destination at the time schedule for one reason or the other on bad roads.
Another abashed factor is "corruption",there is no sceptical about it that corruption had eaten deep into the bone marrow of everyone. It is not the government alone that rob the nation, staff also rob their boss [they never live on their salary but on additional money that comes through another means call corruption]. In fact, fear of corruption is discouraging Nigerians from investing on their land which make them go abroad to invest.
The painful and worrisome aspect is that Nigeria has been left behind while other africa states are enjoying the sources of investors. Nigeria who was known as gaint of africa some years back have become chicken of Africa, our urban areas are congested since there is no much investment in rural area, most of the rural dweller now move to urban center in the search of jobs which later result into crime rate after their inability to get a job.
In addition, the few investors maltreat our citizen and treat them like slave, this happen mostly in chinese and india producing company, they show inhuman act by paying meagre salary and using an hazardous machine which get some people hands or part of there body amputated, i heard a case of that which happen recently in an iron company own by the India, the victim hand and leg was mistaken cut off by their machine before he gave it a ghost. The unfair practise of investor is due to government inability to scrutinize them before approving them.
From the look things the situation will always increase unemployment rate yearly since we produce many graduate from various institution every year. Graduates are produce on geometric progression while job are created on arithmetic progression, how on earth can both be equal.
Above all, what can be done to ameliorate or curb the situation ? This is a question that should perturb the mind of everyone, however there is a saying that ''when there is will, there is way''. Nigeria should maintain standard security and fight corruption to the least.