The Managing Director/Chief Executive Officer of Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru said the challenge the Nigerian economy is facing now makes it the right time for strategic investors with long term interest to come to Nigeria.
In a statement released by AMCON, Kuru said recession, which the country slipped into Economic recession last year, should not in any way deter serious-minded investors because; the country would in no time come out of recession and be on the path to economic recovery.
“We (AMCON) are inundated with proposals from different investors with different area of interest in the economy because Nigeria has a growing and promising economy as far as investment opportunities are concerned; but, it has to be for businesses and business owners that have long-term interest in Nigeria; long term objectives and long term strategy.”
Any investor without these characteristics may be overwhelmed as a result of the present situation of the economy, which is temporary to say the least. So as far as I am concerned, the present economic challenge is actually the right time to invest in Nigeria; a time to lay a solid foundation and then grow with the economy in no distant time.” Kuru explained.
He said AMCON would continue to sustain its tempo of recoveries, which began last year by strategically focusing on value enhanced exits of its portfolios, which encompasses continued negotiations and resolution of loans through cash recoveries, asset forfeitures through negotiation or enforcement.