Abdullahi Sada, Chairman of Tropical Services Nigeria, Lagos, a conglomerate, says stable electricity supply and efficient security are the panacea for attracting investors to the country and that the absence of either or both would discourage potential investors.

According to him, electricity supply in any nation is like an artery which supplies blood to the heart without which the body would not function well.

“Both investors and citizens rely on electricity to do virtually everything; without electricity, we will seemingly return to the primitive days but for the few available generating sets.”

“Factories like Dunlop tyres relocated to Ghana, complaining of lack of consistent electricity supply and the security situation in the country.”

“This shows that there may be some companies that are smaller or bigger that moved out either earlier or after Dunlop without announcing their departure.”

“We also know very well that a lot also closed shop over insufficient electricity supply and insecurity in the country,” he said.

Sada urged the present government to live up to the expectations of the people by delivering on the promises it had made during campaign which primarily were on electricity and security.

He said both electricity and security challenges cut across all parts of the country with the insurgency in the North East and kidnapping in the southern part of the country.

He called on President Buhari’s administration to halt the activities of kidnappers from spreading to the other parts of the country.

Sada also called on the new government to review the privatisation carried out by the last two administrations in the interest of the nation and to ensure due process.

“Some of the beneficiaries of the privatisation have, since obtaining the companies, closed them down; this is to nobody’s benefit,” he said.

Sada implored the Federal Government to also look into the steel rolling companies, which he said should be the backbone of any nation’s industrialisation.

He praised former President Goodluck Jonathan for commencing the process to identify 13 National Strategic Export Products (NSEPs) to replace oil as major national export.

“If this programme is to properly implemented, it will see Nigeria to the next level, especially now that the oil market is crashing.”

The Chief Executive also appealed to the new government to fight corruption by dealing ruthlessly with the perpetrators.

He said this would deter others, citing China as an example of countries where corrupt persons were executed.

NAN/BUSINESSDAY