Political instability, poor infrastructural development and persistent power shortages are the key factors threatening sound investment in Nigeria, especially in the areas of science and technology, a mobile cellular communication expert has said.
Country manager for Nigeria Motorola, Raphael Udeogu, told ITNewsAfrica that although Nigeria had the potential for fast development in communication, security concerns arising from mistrust in power transfer from the military rule to civilian, was making it hard to convince the international community to invest in the country.
Nigeria has a history of military coups, and is now under civilian government of Umaru Yar’Adua, who came into power last year.
Udeogu said most investors in the telecommunication and mobile cellular industry were yet to see the fruits of a civilian rule.
“I would not want to sound like a politician, but issues of security, power and infrastructure are the main problems Nigeria is faced with.
“Poor power supply is another major problem which has slowed down development,” said Udeogu.
Nigeria boasts of a strong cellular mobile network, led by MTN Africa, a South African company that enjoys more than 30 percent investment in the industry.
“Fighting in the Niger Delta is another challenge that is scaring away investors,” he said.
Nigeria, Africa’s most populous nation, is also the continent’s biggest oil producer, followed by Angola and Libya. However, because of political instability, poor infrastructure and power shortages, the development has not realized its full potential.
Only last month, the Movement for Emancipation for the Niger Delta rebels bombed several oil strategic regions demanding that the government economically empower its locals, arguing that much of the oil was exported at the expense of the local community, whose majority is languishing in abject poverty
OKORO CHINEDU
