Economist and political analyst, Yinka Oyedele, has raised concerns over the reluctance of international investors to invest in Nigeria amidst the proposed return of fuel subsidies. In a recent interview with Premium Times, Oyedele explained that the markets, both domestic and international, have largely written off the opposition in Nigeria as being unserious. This, he believes, is the reason for the lack of investment in the country.
'I concluded that the markets, including the domestic market—because that you can read from the capital markets—and the international markets, have largely, largely written off the opposition in Nigeria as being unserious. That is why they have not priced in the proposed return of subsidy,' Mr Oyedele said.
This sentiment is of great concern to many Nigerians, as the return of fuel subsidies could potentially bring much-needed economic relief to the country. However, the lack of investment could hinder the successful implementation of such a policy.
It is unclear if the Nigerian opposition has responded to these claims, but it is hoped that they will take heed and work towards regaining the confidence of both domestic and international investors.
NNPC has not said when the facility began operating.
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