Nigerians abroad urged to invest back home to rebuild economic confidence

Senior Pastor Matthew Ashimolowo of KICC has called on Nigerians living abroad to invest their resources and global influence in rebuilding confidence in Nigeria's economy. Speaking at the inauguration of Treal Hotel and Suites in Abeokuta, Ogun State, Ashimolowo described the increasing wave of diaspora investments as a testament to "renewed faith in Nigeria’s economic future," despite existing business environment concerns.

“

What we are seeing here is not just investment; it is a statement of belief in Nigeria. It shows that people are still willing to commit significant resources here.

"What we are seeing here is not just investment; it is a statement of belief in Nigeria. It shows that people are still willing to commit significant resources here," Ashimolowo stated. He emphasized that Nigerians abroad should translate their international successes into investments that foster national development.

The Ogun State government, represented by Secretary to the Government Tokunbo Talabi, reiterated its commitment to maintaining an investor-friendly climate. Talabi noted the state's ongoing reforms to improve the ease of doing business, citing its industrial base, infrastructure, and location as key attractions for both local and diaspora capital. The government aims to strengthen partnerships with credible investors to drive economic diversification and job creation.

“

the government was focused on strengthening partnerships with credible investors to drive economic diversification and job creation.

Adebayo Fagbenro, the UK-based entrepreneur behind the hotel project, explained that his investment was motivated by years of international exposure and a desire to address gaps in Nigeria's hospitality standards. "I have worked across different systems and environments, and I can clearly see the gap we need to close at home. This investment is about raising standards and improving what we have locally," Fagbenro said. The project, valued in the millions of naira, seeks to blend commercial opportunity with a commitment to elevating service delivery in the industry.

“

I have worked across different systems and environments, and I can clearly see the gap we need to close at home. This investment is about raising standards and improving what we have locally.