United States (U.S.) High Commission Consul-General F. John Bray during the 2018 International Investment Conference with the home, Promoting Investment, Connecting Business in Lagos said $1.3billion American businesses in Nigeria are threatened.
The threats, according to him, are coming from instability in the exchange rate, policy inconsistency, poor electricity, dearth of infrastructure, regulatory and security issues.
The forum was organised by the Lagos Chamber of Commerce & Industry (LCCI).
The envoy said it has the capacity to discourage any investor as there seems not to be a clear-cut obedience to rule of law to protect investors.
He regretted that the country has image problem which needed to be addressed urgently, stressing that though security concerns remain an issue, it is not enough to discourage genuine investors as what they need to do is just to take care of their personal or corporate existence.
On infrastructure, he encouraged the building of competitive infrastructure and stressed the need to connect cities and states for easy movement of goods and services.