Honeywell Group has announced plans to prioritise Nigeria’s economic growth with its expansive investment model that feeds various sectors across Africa’s biggest economy.
According to Otu Hughes, Chief Investment Officer, Honeywell Group, the consumer goods firm has invested across various sectors of the economy such as the food business, real estate, financial services, telecommunications, etc.
“We have played across various sectors of the economy often taking the first money risk by going into places where others are not prepared to explore and create an environment to bring in external capital,” he explained.
He also revealed that the group is still looking at other areas to continue deploying capital and replicating this investment model for economic development.
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“There are some upcoming areas that have generated lots of interest and we are looking into it,” Hughes said.
Speaking on how Nigeria can boost investment, Hughes explains there is a need to implement enabling policies and also deal with macroeconomic issues such as inflation, FX shortage and multiple exchange rate systems, uncertainty, and insecurities.
“At Honeywell, we also try to attract external capital but it becomes an issue when these macroeconomic challenges are not fixed,” he said.
He described the summit as a forum that provides an opportunity for businesses to engage with the government and also share ideas on how to improve the economy.
“The next step is how all the stakeholders will work collectively work together to actualize some of the ideas and solutions proffered,” he said.
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