How Nigeria's Twitter ban impacts investor sentiment

Nigeria's Minister of Foreign Affairs, Geoffrey Onyeama, was set to meet with envoys from the U.S. and the U.K. to discuss the recent decision to suspend Twitter in the country. The move has sparked concerns about how investors perceive Nigeria's business environment. Femi Oladehin, a Partner at Argentil Capital Partners, expressed his views on the matter, labeling the situation as an 'embarrassment'. Oladehin highlighted the challenges faced in trying to reassure investors amidst the chaos caused by the Twitter ban and criticized the government's lack of foresight and understanding of the consequences of their decisions. He emphasized the damaging impact these policies have on the economy, citing the need for a more strategic approach to attract investments. The FX crisis, investment flow crisis, and growth crisis further exacerbate the challenges Nigeria faces in rebuilding investor confidence. The lack of policy consistency and diligence in formulation, coupled with a disconnect from the reality of the situation, paints a bleak picture for Nigeria's investment landscape. The interview shed light on the urgent need for the country to reevaluate its policies and regain trust from foreign investors to avoid significant economic setbacks in the future.