The former Head of Interim National Government, Chief Ernest Shonekan, has said that for the country to develop and tackle the challenge of unemployment among her teeming jobless youths, there was need for political and economic stability.

Shonekan stated this at the second Nigeria Leadership Summit, holding at the Oriental Hotel in Lagos.

He noted that political and economic stability are important for local and foreign investors to invest their money adding that investors shun economies where there is no political and economic stability.

Chief Shonekan stressed that the Boko Haram insurgency has had negative effects on the country’s image, particularly in the international media and the perception of Nigeria by foreign investors stating that there is no doubting the fact that the country would have attracted more foreign investments than it has garnered in the last few years if there had been no Boko Haram insurgency in parts of the country.

Beside the security issue which scares investors, Shonekan noted that corruption was also another  hindrance to development and urged the government and stakeholders to ensure that the menace is gotten rid of.