For IR its time for advocacy Part 2

Though the catalogue of woes befalling Nigeria as enumerated in part one of this series may seem daunting, it presents IR with a golden chance to move out of their comfort zones, think outside the building and spin stories around Nigeria’s potential as an investment destination. It is a chance for corporate Nigeria to demonstrate that they are advocates of the Nigerian project.  

Before dismissing  this proposition as another idealistic ramble, please cast your mind to what IR does when companies go on Road Shows abroad.

Ngozi Okonjo-Iweala, Nigeria's Finance Minister

Here is what they typically do among others:

-          They project their host country (Nigeria in this case) as safe haven for investor capital

• That the economy can grow investors’ capital (robust ROI) 
•    That there are strong economic indicators
•   Project growth prospects of the economy
• Highlight reform 
• Present case studies of successful companies in the economy 
• Highlight political stability
• Explain laws protecting investment
• Demonstrate peace and stability

IR would typically present variants of the outlined points before zeroing in on their companies and sell their investment idea.

Suffice this to mean that IR cannot sell their companies without selling their host economies. They are sold on the investor as a bundle in what economists call, complementary goods.

This suggests that IR is already experienced in promoting a country’s economic potential only that such sale is done on an ad hoc basis.

The new Deal would require a change in mindset, culture and orientation that would demand promoting this economy on a going concern basis.

Now more than ever, with the advent of the internet, corporations are poised to sell to the global community.

Now that we have seen that promoting an economy, a la Nigeria falls within the purview of IR, we can now turn attention to how IR can go about this business.

Our third installment on the subject would do that and more.