TheCitizen - It's all about you
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials
No Result
View All Result
TheCitizen - It's all about you
No Result
View All Result

Investors should look beyond distractions of forex crisis – Peterside

The Citizen by The Citizen
February 24 2016
in Headlines, Latest News, Uncategorized
A A
0
22
SHARES
734
VIEWS
Share on FacebookShare on Twitter

Investors who want to invest in Nigeria should look beyond the distractions from the current foreign exchange situation in the country in order to make better and profitable long-term decisions, the Chairman of Cadbury Plc, Mr. Atedo Peterside, has said.

Peterside stated this while delivering a welcome address at the 2016 Standard Bank West Africa Investors’ Conference held in Lagos, yesterday.

The conference was themed: ‘Unlocking Nigeria’s Potential…growing through diversification’

He said: “By rising above the distractions and uncertainties surrounding the short-term foreign exchange situation and   evaluating Nigeria’s long-term potential in key sectors of the economy, such as infrastructure, power and gas, consumer goods, agriculture, etc., investors will be better guided and positioned to take informed decisions on where the best long-term returns on investment will eventually emerge from.”

According to him, “Efforts at economic diversification are still at a relatively early stage of execution and are hampered by exchange rate uncertainties. This has created a very challenging backdrop for policy makers to operate against as the private sector is naturally pre-occupied at present with the short-term pursuit of scarce forex at official rates which guarantee huge windfall incomes for the lucky recipient.”

The Stanbic chairman said dollar shortages in Nigeria had reached levels where “most investors here are currently caught up in a frenzied pursuit of the cheapest available dollars. Everybody wants to take foreign exchange out and nobody really wants to bring it in,” he said, adding: “Without investment there will be no new jobs.”

He noted that, “The need for decisive diversification of the economy becomes even more apparent when we consider the yearning needs of the populace for new jobs and/or welfare packages that will help drag significant numbers of them up from below the poverty line.

He added, “Given the government’s plan to boost economic activity through extensive spending on infrastructure as well as on social projects, it potentially provides a platform through which the private sector can partner with government.”

Peterside said, “It is clear to most stakeholders that government cannot attempt to close the infrastructural gap alone without recklessly expanding Nigeria’s debt burden. This makes it imperative that the government clearly articulates a policy regime which enables both the private sector and the public sector to allocate scarce resources more efficiently.” Vanguard

Share9Tweet6
Previous Post

Naira already devalued – 28 pro associations tell Buhari

Next Post

PDP senators ask Sheriff to resign, April

Related Posts

JAMB reschedules mock UTME  to April 10
Headlines

FG denies scrapping JAMB requirement for admission into tertiary institutions

October 17 2025
Insecurity and incompetence of security chiefs – Punch
Headlines

Bandits ambush security operatives, kill eight in Zamfara

October 17 2025
Senate confirms Amupitan as INEC Chairman
Latest News

Senate confirms Amupitan as INEC Chairman

October 17 2025
Vacations and governance: Why President Tinubu’s trip matters -Guardian
Headlines

Presidential pardon still under review, says Fed Govt

October 17 2025
Senate confirms Amupitan as INEC Chairman
Headlines

Senate confirms Amupitan as INEC Chairman

October 16 2025
Police arraign four ex-Anambra security operatives for assaulting corps member
Latest News

Police arraign four ex-Anambra security operatives for assaulting corps member

October 16 2025
Next Post

PDP senators ask Sheriff to resign, April

Senate leadership crisis deepens

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

FROM THE GRASSROOTS

Olubadan unveils legal committee to tackle land grabbing

Olubadan unveils legal committee to tackle land grabbing

by The Editor
October 15 2025
0

...

Birnin Gwari needs urgent federal intervention – Emir tells Tinubu

Birnin Gwari needs urgent federal intervention – Emir tells Tinubu

by The Editor
October 13 2025
0

...

Rivers court adjourns hearing on LG poll legitimacy

Rivers court adjourns hearing on LG poll legitimacy

by The Editor
September 16 2025
0

...

Osun households get free food items

Osun League of Imams & Alfas urges Tinubu to intervene in LG withheld funds

by The Editor
August 27 2025
0

...

APPOINTMENTS

Tinubu seeks Omidiran, 28 others’ confirmation as FCC members

Tinubu seeks Omidiran, 28 others’ confirmation as FCC members

by The Editor
October 15 2025
0

...

Okpebholo swears in 19 commissioners, warns against corruption

Okpebholo swears in 19 commissioners, warns against corruption

by The Editor
October 15 2025
0

...

Fubara drops Danagogo, appoints Anabraba as Rivers SSG

Fubara drops Danagogo, appoints Anabraba as Rivers SSG

by The Editor
October 13 2025
0

...

Savannah Energy signs agreement with Chadian govt for new renewable energy projects

Savannah Energy announces board changes, appoints two Nigerians as Independent Non-Executive Directors

by The Editor
October 9 2025
0

...

ODDITIES

Lagos to probe school over alleged sodomy

Father impregnates 15-year-old daughter in Ondo

by The Editor
October 17 2025
0

Court orders exhumation, autopsy of Afriland Towers fire victims

Court orders exhumation, autopsy of Afriland Towers fire victims

by The Editor
October 15 2025
0

Slain husband’s dad forgives Maryam Sanda, backs Tinubu’s pardon

Slain husband’s dad forgives Maryam Sanda, backs Tinubu’s pardon

by The Editor
October 14 2025
0

GLOBAL NEWS

Trump, Putin to meet in Budapest over Ukraine war

Trump, Putin to meet in Budapest over Ukraine war

by The Editor
October 17 2025
0

...

2026 Hajj: Saudi govt approves 66,910 slots for Nigeria

2026 Hajj: Saudi govt approves 66,910 slots for Nigeria

by The Editor
October 17 2025
0

...

Trump persuades India to stop buying Russian oil

Trump persuades India to stop buying Russian oil

by The Editor
October 16 2025
0

...

Former Kenyan Prime Minister Raila Odinga dies in India

Former Kenyan Prime Minister Raila Odinga dies in India

by The Editor
October 15 2025
0

...

US revokes visas of six foreigners for celebrating Charlie Kirk’s assassination

US revokes visas of six foreigners for celebrating Charlie Kirk’s assassination

by The Editor
October 15 2025
0

...

State of the States

21.8% North-East residents HIV positive – NBS …as 16,000 die from HIV complications in Borno

Adamawa records 8,850 new HIV infections in four years

by The Editor
October 17 2025
0

...

Zamfara APC condemns state govt’s mass sacking of civil servants

Zamfara APC condemns state govt’s mass sacking of civil servants

by The Editor
October 14 2025
0

...

Gov. Otti set to build modern fire station in Umuahia

Gov. Otti set to build modern fire station in Umuahia

by The Editor
October 7 2025
0

...

Senator denies bill to rename Kaduna to Zazzau State

Kaduna State pays ₦72,000 minimum wage

by The Editor
September 18 2025
0

...

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
End female genital mutilation – Punch

End female genital mutilation – Punch

October 17 2025
WAFCON: Gov. Otu gifts Super Falcons star, Miracle Usani, ₦50m, land

WAFCON: Gov. Otu gifts Super Falcons star, Miracle Usani, ₦50m, land

October 17 2025
Nigeria at critical juncture – Vanguard

Nigeria ranks 115th out of 125 countries on Global Hunger Index

October 17 2025
Trump, Putin to meet in Budapest over Ukraine war

Trump, Putin to meet in Budapest over Ukraine war

October 17 2025

EDITORIAL REVIEW

End female genital mutilation – Punch

End female genital mutilation – Punch

by The Editor
October 17 2025
0

Nnaji: Nigeria’s dodgy vetting processes – Punch

Nnaji: Nigeria’s dodgy vetting processes – Punch

by The Editor
October 16 2025
0

Vacations and governance: Why President Tinubu’s trip matters -Guardian

Tinubu, honour promise to ASUU – Punch

by The Editor
October 15 2025
0

The killings in the South East – Thisday

The killings in the South East – Thisday

by The Editor
October 14 2025
0

IOCs: Implement host communities’ projects – Punch

IOCs: Implement host communities’ projects – Punch

by The Editor
October 13 2025
0

Opinion

Tinubu finds his own demons

Next time, Umahi should go to NTA

by The Editor
October 16 2025
0

...

Objections over presidential pardon for grave offenders

Objections over presidential pardon for grave offenders

by The Editor
October 13 2025
0

...

1975 public service purge: What have we learnt?

1975 public service purge: What have we learnt?

by The Editor
September 30 2025
0

...

Tinubu finds his own demons

Nigeria’s state of weakness

by The Editor
September 18 2025
0

...

Plugin Install : Popular Post Widget need JNews - View Counter to be installed
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2024 TheCitizen Ng. All Rights Reserved.

No Result
View All Result
  • Home
  • Headlines
  • Latest News
  • Governance
  • Business
  • Financial Crimes
  • Opinion
  • Editorials

© 2024 TheCitizen Ng. All Rights Reserved.