He said, “Direct investment have about five components; profit generated by companies not repatriated; change in foreign share capital like fresh loans or direct investment funds; change and supply of credit which is when existing foreign investors in Nigeria allow their affiliates in neighbouring countries to attach them to certain suppliers when trading with them. But this is more of money coming in and less going out.
Aremu said a cursory look at the components shows that the ones keeping more money than taking out were better for the economy. “Under liabilities, you will discover that the head offices of national corporations in Nigeria are making sure that as much as possible, they move out their money to affiliates, whether in South Africa, Ghana or Morocco where there is relative level of stability, as well as paying their head office for technology and other commitments made when the investor initially came in.
“The climate has to be attractive enough for you to leave your money in a country. The US or UK economy retains foreign investors because they want to continue reaping returns on investment rather than taking the money back. We need a capital sink in Nigeria.”
Let Nigeria use some of it's funds to restructure Igbo land.
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