Business and Economy
Santolo: Before We Seek Investors, Are We Ready for Investment?
Before we begin talking about attracting investors, we must first ask ourselves whether we are truly ready to welcome investment.
Last week, youths, officials of the State Tourism Board, the History and Culture Bureau, and other stakeholders reportedly visited Santolo.
With proper research, planning and investment, Santolo could become a major tourist destination. But discovering a potential attraction is one thing; developing and sustaining it is another.
There are valuable tourism and recreational assets in the state that have not been fully maintained or developed. Bagauda Lake Hotel and Tiga Dam readily come to mind. We should therefore ask ourselves what lessons we have learned from them.
There is also a wider problem: our attitude towards investment. Our people and governments must understand that modern hotels, resorts, film villages and other tourism or creative-industry facilities are economic assets. They create jobs, attract visitors, stimulate local businesses and generate revenue.
Yet, whenever such investments are proposed, they are often met with controversy and public opposition. The proposed Film Village is a clear example. Instead of concentrating on its potential economic benefits and addressing legitimate concerns constructively, the entire project was largely condemned.
This sends a dangerous message to investors. Investment goes where it is welcomed. An investor can choose Kano, Abuja, Lagos, Ogun or any other location. If the government and people want the benefits of investment, they must provide an enabling environment where legitimate businesses can operate and grow.
The decline in the prominence of our International Airport should also concern us. Our state was historically one of the country’s major commercial centres, yet its airport now appears to have fallen behind many airports and cities that once had less commercial significance. A successful international airport needs a strong economy around it—trade, tourism, hotels, conferences, industries and investor confidence.
We cannot desire development while rejecting the infrastructure and investments that support it. We cannot complain about unemployment while opposing job-creating businesses. We cannot want international tourists without developing tourist sites and hospitality facilities.
Santolo may indeed be a major discovery. But before we invite investors to develop it, our state and people must first demonstrate that they understand the economic value of investment and are prepared to protect and support it.
Otherwise, another opportunity may simply pass us by.
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