BusinessDay 14 Feb 2019

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Beyond peace accords: Nigeria needs violence-free elections D “ B

Despite improved capital importation, Nigeria’s FDI leaves nothing to cheer

DIPO OLADEHINDE & OLUWASEGUN OLAKOYENIKAN

ISAAC ANYAOGU

e t w e e n 1 0 a. m. and 12p.m., they entered the school chanting slogans and shouting: ‘Where are the Christians that supported the ruling party?’ “When you see the mob, they L-R: Abdulsalami Abubakar, former head of state; President Muhammadu Buhari, APC presidential candidate; Atiku Abubakar, PDP presidential candidate, and Ellen JohnsonSirleaf, head of ECOWAS election observers and former Liberian president, at the second signing of peace accord for the conduct of Nigeria’s 2019 general election in Abuja.

were not in their senses. They had painted their faces black and were shouting that they needed ‘change’, the Congress for Progressive Change (CPC) campaign slogan. “The mob had all sorts of weapons – machetes, sticks, and clubs. They started breaking the windows on the buildings. The

ANALYSIS

students ran away but the mob pursued them into the staff quarters and they had nowhere to go. The mob beat them to death and hit them with machetes.” The above is an eye-witness account of a lecturer at the Nuhu Bamalli Polytechnic, a college on

the outskirts of the city of Zaria in northern Kaduna State, to Human Rights Watch after former President Goodluck Jonathan was announced as winner of the 2011 presidential election. Over 800 people died following clashes in northern Nigeria. Continues on page 38

espite relative improvement in capital importation, Foreign Direct Investment (FDI) inflow into Africa’s largest economy is worsening, according to latest data from the National Bureau of Statistics (NBS) released yesterday. This is no thanks to poor investment climate characterised by overly stringent or impromptu government policies, bureaucratic bottlenecks for securing permits, and a weak legal framework. Total capital importation into Nigeria in 2018 stood at $16.8 billion, compared to $12.2 billion in 2017, representing a yearon-year growth of 37.49 percent thanks to portfolio investment, Continues on page 38

Inside WAV, STG resolve years of rift, sign settlement P. 39 agreement Shell, partners sign 300m cubic feet of gas FID P. 39 Understanding the economy of Nigeria’s 36 states – South-West


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