By Taiye Olayemi
The International Human Rights Observatory Africa (IHRO-Africa), a civil society organisation, has known as on coverage makers to implement business-friendly reforms to mitigate human capital flight in Nigeria.
Daniel Koussou, the Chairman of the committee on Economic Diplomacy, Trade and Investment, IHRO-AFRICA, made the decision through the inauguration of the committee members in Lagos on Thursday.
He expressed considerations over the rising circumstances of human capital flight because of the harsh enterprise atmosphere.
According to Koussou, over 100 corporations have exited Nigeria since 2020, leading to estimated losses of 56 billion {dollars}.
He attributed this to financial instability, unstable forex fluctuations, and excessive operational prices.
To handle this, Koussou emphasised the necessity to deal with financial instability, unstable forex fluctuations, and excessive operational prices.
He additionally known as for the necessity to simplify Nigeria’s laws and construct crucial transparency and increasing commerce agreements and deepen diplomatic relations to open new markets for Nigerian companies.
Koussou famous that IHRO-AFRICA would work with regulators, non-public and authorities companies to create a business-friendly atmosphere.
He additionally highlighted Nigeria’s potential, citing 5.3 billion dollarsmin overseas direct investments in 2023, which might be elevated with higher insurance policies.
Stakeholders, together with Dr Victor Okhai, Chairman of the Federation of Registered Guilds and Associations in Nollywood, and Mr David Ujah, Manager of First City Monument Bank, Adeola Odeku department, echoed the necessity for deliberate efforts to draw buyers and harness Nigeria’s untapped potential.
Mr Musa Dikko, Commissioner, Public Complaints Commission, Federal Capital Territory, aligned with IHRO-AFRICA’s mission, emphasising the significance of constructing belief within the enterprise house and inspiring Nigerians to report complaints to the fee.(NAN) (www,nannews.ng)
