Why investors are moving out of Nigeria, expert explains

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Experts at the Investors Forum have explained the problem with Nigeria's investment sector.

An expert in the housing sector and the Managing Director of Symphony Garden City, Lagos State, Mr. Bola Adeboye explained that the strict policies of government is one of the factors responsible for low investment in housing sector by foreign investors.

Adeboye lamented that the polices of the government on housing has become unbearable for investors hence the reason they avoid the sector.

Mr Adeboye who spoke at his Investors' Forum on the proposed Symphony Garden Estate at Ogudu, Oworo - Shoki area of Lagos state decried the rate investors move their investment from Nigeria to other countries because of its stiff policies.

He said government needs to deregulate its housing policies in order for both local and foreign investors to invest in it.

He said "Government of some countries has less than 5% interference in housing unlike Nigeria where government influence is over 80%.

" Investing in housing in Nigeria is tasking because they keep bringing different policies. Just like it took us three years to get to where we are and it is only a determined soul that could go that far.

"Government should deregulates, they should give room for professionals on the field.

" It is only when government reduce interference in housing sector that would encourage investors to invest in it",he said.

He appealed to the government to deregulate and reduce their interference in housing, advising them to give room for professionals in the field.

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