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Don’t Sabotage Nigeria’s Economy, Obasanjo Tells Foreigners

Former President Olusegun Obasanjo has warned foreigners and foreign companies doing business in Nigeria not to engage in sharp practices which can undermine the country’s economy.

He gave this warning on Saturday in Abeokuta at an interactive session with Indian Professionals’ Forum which held inside the marquee at the Olusegun Obasanjo Presidential Library complex.

The former President noted that it was uncharitable for foreigners or foreign companies to come into the country and engage in sharp practices which they would never engage in their own countries.

He warned the Indian professionals to monitor the activities of their colleagues and their companies, and ensure they followed due process in all their undertakings.

The ex-President urged the Indians, who are doing legitimate business, either on their own in partnership with Nigerians or working in companies in the country, to continue in their line of business.

Obasanjo added, “India has tremendous impact on Nigeria becoming independent. The independence of India in 1947 did not lose its impact on Africa in general but Nigeria in particular as the move for Nigeria’s independence also started in the 50s.

“There are Indian enterprises and corporate bodies in the country doing fairly well, employing local staff/Indian staff and legitimate and genuine contributors to the Nigerian economy; I emphasise legitimate and genuine because I will come to something later, may be you will withdraw your applause then.

“But there are ugly faces; there are Indian companies that have been doing what they will not do in India and that is unfortunate.

“I hope those of you who are doing the right thing, who really make us proud in our association with India, will make sure that this type of bad things stop.

“I was in India and I saw what India was doing in self-reliance, which I admired and I don’t see why any Indian company should come here and undermine our own self reliance.”

On his part, the President, IPF, Dinesh Rathi, said the forum was founded in 1994 to project the positive image of India in Nigeria.


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