How To Reform Nigeria’s Business Environment

The Nigerian business environment has been described as one of the most challenging in Africa as industry experts look at regulatory environment in creating an enabling environment for businesses to strive.The regulatory environment is crucial to the operations, viability and profitability of businesses in the country, a lot of business owners face grueling situations in complying with some of the harsh government policies that exist in Nigeria’s business clime.

Some of the focus areas that the government has achieved are driving registration for utilisation of the National Collateral Registry to facilitate access to credit for SMEs, clearance of all pending NAFDAC registration applications to improve efficiency; and creation of a strengthened single joint cargo examination interface in all airports & seaports for import and export to reduce the time spent at the ports.

“NAP 4.0 will focus on initiatives such as enforcing compliance with SLAs across all indicators/focus areas, driving the passage of the CAM Bill 2018 for improved effectiveness of company law in Nigeria , enhancing efficiency in the small claims court, and enhancing the application and approval system for visas on arrival, to mention a few.

He explained further that businesses are generally burdened with the challenges of infrastructural deficiencies and macro-economic shocks. He noted that the association also aimed to further influence the modulation of economic, industrial, trade and other policies that were germane to the survival of the manufacturing sector in Nigeria.

“We are of the view that the challenges arising from poor road infrastructure and difficulties in ease of doing business and acquisition of land may be responsible for the slow growth experienced in the agricultural sector.

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