Rishi Sunak is a businessman who understands the power of foreign direct investment to turn an economy around. President Buhari should become the first foreign leader to meet him with this audacious plan

Ayo Akinfe

[1] Our insecurity crisis has spiralled out of control. We need a whole mechanised division of the Nigerian Army trained into a commando unit of special forces up to the standards of say the US Navy Seals or British SAS. They must become the world’s leading force at hostage rescue. Nigeria needs Britain to train this unit

[2] We need at least $10bn invested annually in cattle ranches, dairy plants, animal feed compounders and leather factories to address our chronic Fulani herdsman crisis

[3] Nigeria currently only generates 7,000MW of power compared with say Egypt’s 24,700MW and South Africa’s 58,000MW. We desperately need investment in this sector. We need the UK to pledge an annual investment sum of at least $5bn in the sector

[4] Any supplier of finished goods who recieves a contract to supply any Nigerian federal or state government with finished goods in excess of $1m must commit to opening a manufacturing facility in the country. Failure to do so should be classified as money laundering

[5] Any British pharmaceutical company that has developed a Covid-19 vaccine must commit to opening a manufacturing plant in Nigeria to supply the African continent

[6] Downing Street must offer what is left of the British car industry generous tax rebates to encourage them to site their new generation of electric car factories in Nigeria

[7] Nigeria is the world’s major producer of at least 10 agricultural crops and is among the top 10 producers of about 50 other tropical products. Britain must offer its food processors export credits to come and open processing plants in Nigeria

[8] To industrialise, a nation needs power, crude oil, steel and manpower. Of all these areas, the one place where Nigeria is totally lacking is steel as we do not produce one tonne. As a matter of utmost urgency, British steel manufacturers must be offered tax rebates of up to 80% to locate to Nigeria as without it, we will remain perpetually under-developed

[9] All Nigeria’s foreign debts owed to British creditors must be converted into investment grants. We have an annual infrastructural deficit of $100bn and a paltry annual budget of about $33bn so simply cannot afford to be servicing loans. Basic arithmetic shows that our economy cannot accommodate paying all these foreign loans

[10] Britain must pledge to ensure that 10% of all investment by their industrialists comes to Africa as from 2023. To facilitate this, Downing Street must offer them a combination of tax rebates, export credits, green credits, relocation allowances, et

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