Insecurity: House Calls for Protection of Foreign, Local Investors’ Premises

By Udora Orizu

The House of Representatives at plenary on Wednesday urged the federal government to provide adequate security at no extra cost for the business premises of major investors, both local and foreign nationals operating in Nigeria to boost their confidence and reduce costs of production and services.

The House also urged relevant security agencies to set up security posts manned by inter-agencies security arrangement to hold a 24-hour watch over manufacturing sites, critical national installations, strategic construction sites and other business premises owned by investors in the country.

The resolutions were sequel to the adoption of a motion on the need to rebuild the confidence of expatriate investors in Nigeria, sponsored by Hon. Yusuf Buba Yakub.

Moving the motion, Yakub said the House is aware that despite the efforts of the government at curtailing the rising wave of insecurity in the country, the spate of kidnapping for ransom has assumed widening proportions with school children being the most vulnerable.

He noted that the prevailing security challenges in the last 10 years have resulted in other incendiary crimes and acts of criminality, like kidnapping, banditry, theft, gross circulation of small arms and light weapons, drug abuse, internet crimes as well as other anti- social behaviours.

He also noted that the activities of criminals have aggravated the cost of living in the country by not only keeping farmers off farming but have caused manufacturers and investors mainly from China, importers, construction companies and site workers, who are expatriates, to invest heavily in measures aimed at securing themselves, their wards, as well as employees which have, arbitrarily increased the costs of production and delivery of services.

He expressed concerns on the latest statistics on kidnapping, which indicates that there are several expatriate executives and workers, like Chinese construction workers and other foreign oil industry investors in the country who have become victims of kidnapping for ransom, armed robbery and outright killing.

The lawmaker added that if urgent steps are not taken to check these acts of criminality constituting threats to life and foreign investments in Nigeria, it may lead to the closure of critical industries that are currently struggling to survive from COVID–19 pandemic and recession, as some notable businesses and companies are currently relocating to neighbouring countries like Ghana.

Adopting the motion, the House mandated its Committee on National Security and Intelligence to ensure compliance.