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THE EASE OF DOING BUSINESS IN NIGERIA  

 

Tony Okonta
(@tonero)
Member Moderator
Joined:2 years  ago
Posts: 2
13/09/2018 4:22 pm  

 

THE EASE OF DOING BUSINESS IN NIGERIA

Many have argued that the three key factors that affect the ease of doing business in Nigeria are non availabilities of adequate and uninterrupted suppliers of electricity and access of finance among other factors such as lack of infrastructure and security.

 

But another school of thought argued that the greatest problem is government regulation and enforcement of the regulations that determines the effectiveness of regulatory reform in achieving better economic result.

 

This school of thought posited that the gap between regulation and enforcement of government regulation due to political, religious and ethnic patronage has drastically reduced the drive to improve national competitiveness in an economic increasing integrated world.

 

This has created unfair monopoly and have created an unfavorable business environment for entrepreneur to venture.

 

What is your thought.

 


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idris adekunle
(@eedrisadekunle)
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17/09/2018 2:08 pm  

While i appreciate the importance of government regulation to ensure a fair competition, i feel that the greatest problem to ease of doing business in Nigeria is access to finance.

Finance is the life wire of business that will help the entrepreneur to venture into business.

You need initial capital to be able to register the business, make research and engage other hand that will help run the business.

Even the infrastructures like adequate power supply has to be paid for with finance


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ngozi rita
(@ngozi-rita)
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18/09/2018 3:42 pm  

I agree with you completely. Finance is the Major factor that affects ease of doing business in Nigeria because without capital you cannot even venture.


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michael okonma
(@michael)
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Posts: 1
08/10/2018 12:41 pm  

Nigeria is one of the world's leading locations on the  African Continent but there are several challenges confronting the typical Nigerian business. First, is access to Capital and Credit, lack of financial capital is the single most important challenge when it comes to doing business in Nigeria. Secondly, is the Poor state of electricity and Power Supply - Getting access to constant electricity and  power supply is a major concern for businesses in Nigeria. As of June 2018, an average household in Nigeria can only have access to 6 hours uninterrupted power supply out of 24 hours that exist in a given day.

This hurdles confront every business in Nigeria today


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Tony Okonta
(@tonero)
Member Moderator
Joined:2 years  ago
Posts: 2
09/10/2018 6:19 pm  

Thanks Mike Ngozi and Idris for your contributions. You both seems to suggest that the most important factor that affects ease of doing business in Nigeria is access to finance.

While i agree with you , i want to state that even if you have all the capital you need for business without infrastructures that will cushion  your operational cost, your business will not be competitive. i therefore posit that all the factors equally affect the ease of doing  business in Nigeria.


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