Nigeria’s Infrastructure Deficit Scares Off Foreign Investors – Canadian-Based Hotelier
ABEOKUTA – A Canadian-based hotelier, Mr. Oluwafemi Ayeyemi has decried the lack of social amenities as factors discouraging many Nigerians in diaspora and foreign investors to invest in the country.
Ayeyemi disclosed this on Monday while taking journalists on a project tour of his multi-billion naira hotel project at Ijeja community, Obada-Oko area of Abeokuta in Ewekoro local government area of Ogun state.
The young business tycoon noted that the majority of his colleagues in the US and Europe are scared of investing their resources due to the multifaceted challenges affecting Nigeria economy.
According to him, high of insecurity, multi tax system, lack of infrastructure, and untrustworthy manpower discouraged many foreign investors from contributing to the growth of the Nigerian economy.
Speaking on his N4 billion hotel project, Feliza Hotel and Suites, Mr. Ayeyemi said the 62-room hospitality facility would bring development to the community and reform the hospitality business in the state.
He said the facility billed for commissioning in November 2025 comes with an elevator, swimming pool, spa and gym centre, industrial air conditioning system, three mini halls for conferences and meetings, and 2,500 capacity event centre.
He maintained that when completed, the hotel would create employment opportunities for about 100 youths within and outside the Obada-Oko community.
He, therefore, enjoined Nigerians in diaspora to return home and compliment the government’s effort at reducing unemployment and providing basic amenities.
He appealed to Governor Dapo Abiodun of Ogun State to embark on the construction of the Ijeja community railway road at Obada-Oko, saying bad road networks will kill hospitality business in Nigeria.
“I was first discouraged to do anything in Nigeria again because my first house was demolished at Laderin in 2016 for the construction of the railway line without any compensation despite having all title documents.
“Later in 2017, my father encouraged me to do something and rise again. That’s why I consulted a few of my friends in Nigeria on a thriving business, and they advised me to invest in hospitality. That’s when we started this project.
“Because of my experience and exposure in Canada, I ensured that every piece of equipment used for this building is state-of-the-art. So, since 2017, we have been working on this project.
“In developed countries, before we embark on this kind of facility, the first thing is construction of accessible road, but in Nigeria, reverse is the case. If the government did not see reasons to construct road, they won’t move. That was why we felt that if we could erect this kind of edifice, it would encourage the government to support our initiative and bring development here.
“I want to use this medium to appeal to our people abroad to come home and develop this country. We can not leave the development of this country to the government alone. The government should also encourage us by providing the necessary basic amenities for businesses to thrive.”
