Nigeria’s commitment to good governance morale booster for investors – PAAC Chairman

Chairman, Pan African American Chamber of Commerce (PAAC), Prof. Olatokunbo Onabanjo, says Nigeria must show more commitment to good governance to attract investors and transform the economy.

Onabanjo made this remark in an interview on Tuesday in Lagos.

“Governments should demonstrate their commitment to good governance, transparency and accountability.

“This will build confidence among investors and create a conducive environment for sustainable economic development,” he said.

Onabanjo, who was the Director of Computer Services during Tinubu’s administration as governor of Lagos State, said that the government has roles to play in enhancing the development potential of economies of the country and the continent.

“Governments play a crucial role in creating an enabling policy environment that promotes economic development.

“They should showcase their policy initiatives aimed at attracting investments, supporting entrepreneurship, and fostering innovation.

“Governments should highlight investment opportunities in various sectors of their economies and provide information on incentives, regulations, and infrastructure development plans.

“This will attract potential investors and stimulate economic growth,” he said.

Onabanjo, a seasoned project manager and member of Certified Project Management Professionals, also called for a public-private partnership in driving economic development.

“Government should showcase successful collaborations between the public and private sectors, and encourage further engagement,” he said.

He said that individuals, organisations and governments had specific roles to contribute to enhancing the development potential of African economies.

Onabanjo equally noted that Nigeria had significant renewable energy potential, particularly in solar, wind, and hydroelectric power, which must be developed to bring back the economy.

“Nigeria’s efforts to increase access to clean and reliable energy create opportunities for investment in the renewable energy sector,” he said.

Speaking on the forthcoming trade and investment conference in the United States of America, Onabanjo said that the conference would allow for engagement with the Nigerian diaspora and the African-American community.

The conference with the theme “Hope for Africa” being organised by the Pan African American Chamber of Commerce is scheduled for Sept. 9 to Sept. 13 in Atlanta, Georgia, United States of America.

“This engagement will also facilitate knowledge transfer, technology exchange, and skills development, supporting economic growth and development.

“The conference will provide a platform for Nigerian businesses to network with African-American entrepreneurs and explore potential partnerships, trade opportunities, and investments.

“This will lead to increased trade and economic growth for Nigeria,” he stated.

He said that the conference would give opportunities for knowledge sharing, global exposure, cultural exchange, capacity building, network and collaboration, trade and investments, promotion of African brands and products.

The PAAC chairman said, “The conference will feature panel discussions, workshops and presentations on business, entrepreneurship and economic development.

“It will equally lead to increased trade partnerships, investments, and business collaboration, promoting economic growth and job creation in Nigeria and across Africa.”