ABUJA — Economic experts have urged Nigeria to develop stronger policies for converting short-term capital inflows into long-term productive investment. The call comes amid efforts by the Federal Government to improve economic stability and attract investment into the country. Short-term capital can provide liquidity and support financial markets, but it can also leave quickly when economic conditions change. Long-term investment, by contrast, can support factories, infrastructure, agriculture, technology and other productive sectors. Experts therefore argue that Nigeria needs policies that encourage investors to commit resources for longer periods. Macroeconomic stability is an important part of that process. Investors generally consider inflation, exchange-rate conditions, interest rates, fiscal policy and political stability when deciding where to place capital. Reforms that improve predictability can make Nigeria more attractive to investors seeking long-term opportunities. The country has significant economic potential because of its large population, natural resources and growing consumer market. However, challenges including infrastructure deficits, high operating costs and financing constraints can make investment more difficult. Addressing these issues could increase the productivity of existing businesses and encourage new investment. Infrastructure is particularly important. Reliable electricity, efficient transport networks and telecommunications reduce the cost of doing business. Businesses that spend heavily on generators, logistics and other basic requirements may have less money available for expansion and employment. Public and private investment in infrastructure can therefore improve the wider investment environment. Financial markets also have a role to play. Pension funds, insurance companies and other institutional investors can provide long-term capital when appropriate investment opportunities exist. Strong regulatory frameworks are necessary to protect investors while directing capital toward productive assets. The government can also use incentives carefully to encourage investment in sectors considered strategically important. Agriculture, manufacturing, technology and renewable energy are among the areas with potential to create jobs and diversify the economy. Nigeria's dependence on oil revenue makes diversification particularly important. A stronger non-oil economy can provide more stable sources of employment and government revenue. Small and medium-sized enterprises also need access to long-term financing. Many Nigerian businesses rely on short-term and relatively expensive credit, making it difficult to invest in machinery, research or expansion. Financial institutions can help by developing products suited to the needs of growing businesses. Policy consistency is another requirement. Investors need confidence that rules governing taxation, foreign exchange, licensing and other areas will not change unpredictably. Frequent policy changes can discourage long-term commitments even when the underlying market opportunity is attractive. The government therefore faces the challenge of balancing reforms with predictability. Attracting capital is not enough on its own. The quality of investment matters because capital directed into speculative activities may produce less lasting economic benefit than investment in productive capacity. Policymakers will therefore need to focus on the sectors and projects capable of generating employment, exports and productivity gains. Nigeria's large domestic market gives it an advantage if investment barriers can be reduced. Long-term investment can also help develop local supply chains and transfer technology. If businesses expand, demand for skilled workers and supporting services can increase. Converting short-term capital into long-term investment will require cooperation among government, financial institutions and private investors. Economic reforms can create the conditions, but businesses ultimately determine whether opportunities are converted into productive activity. The broader objective is to build an economy in which capital supports sustained growth rather than temporary financial movements.