10 killers of Business Environment in Nigeria

For any nation to be stable, socially, politically and economically, there must be good   empowerment programs for the active population of that particular nation. For instance, population of Nigeria constitutes about 70% of the youths. Thus, all resources should be geared towards improving the lives of all the youths in Nigeria. Unfortunately, enabling environment for many youths to exhibit their potentials and turn these innate entrepreneurial skills for productive use in good business environment has been deformed by series of Nigeria peculiar shortcomings which affect any business. Even, majority of Nigerian youths doing business in their father’s land, especially the vibrant  youths and promising entrepreneurs, with business acumen are facing many social and economic problems of yesteryears.


Most of these young business people had not seen a constant electric supply for a complete full month without any interruption from the power company since they were born. Due to lack of social and economic infrastructural facilities, many of these new-generation Nigerian youths had relocated abroad and found juicy greener pastures. This singular act had resulted in brain-drain on a daily basis; Nigeria is lacking real human power to revitalize her economy.

Hence, this article highlights 10 major killers to business environment in Nigeria. These 10 killers are below:-

Nigeria Factor:

This is very unpalatable and a wicked phase to describe the social control disorder in the Nigeria domain. This ‘Nigeria factor’ came from yesteryears, where tribalism, nepotism, favourtism, economic sabotage had been imbibed in the Nigeria society by many past political leaders. The results of this so called Nigeria factor are political sluggishness, lack of unity among different tribes and the federating states, unfavourable social and economic policies, lack of national focus and non-implementation of key social and economic policies to revamp the economy for Nigerian people, especially the young entrepreneurial youths.

Nigerian mentality:

An average Nigerian strongly believes in the mutilation of Nigeria state. This produces disunity among the people due to one reason or the other.  These mentalities will always affect Nigerian youths with full potential powers to revamp the misfortunes of Nigeria as a nation. Each major tribe does not see one another as one, thus, fuelling the act of distrust and disharmony. Even, past political leaders did not help matters by promoting acts of disunity subtly embedded in their past social and economic policies. To fully correct this stronghold on Nigerian youths, there is an urgent need to create conducive business environment and empower youths  in one or the other.

 Government Policies:

Social and economic vibrancy lie in the hand of a good government with high public repute. Government policies may mar the hope and aspirations of the people or make the best use of human resources at a point in time. Basically, the rating of government falls in its effective implementation of key policies that are people-oriented. Unfortunately, young enterprising youths have been marred and disoriented by the various government policies of many years with the effect of undervalue the potential powers of real owners of Nigeria State. This is because, 70% of Nigeria populace are entirely young people.

Cartels:

Generally, cartels are of economic value, in a sense, either to influence decisions within their industry or to influence government’s decisions as regard businesses in such industry. Unfortunately, cartels in Nigeria or what is now known as ‘Mafia’ has been used to intimidate Nigerian young people in form of oppression, suppression and repression. Thus, this form of group damages economic pattern of a nation and induces slow economic recovery, poor social control order, corruption and negates the true federalism principles.

Visionless Leadership:

A true leader takes into consideration the power of the people, mostly, the power of the young people in a democratic setting.  Nigerian youths are with vibrancy and must be bridled to take the mantle of leadership in the nearest future. As sad as it may be, many of the Nigerian past leaders lack the vision to take Nigerian youths as a reference point of their leadership models. 80% of these leaders were often featured on ministerial appointments ‘lists and senatorial posts without any meaningful impacts on the lives of these vital human capital. The political -position seekers are visionless with almost zero-achievements in their respective constituencies. No wonder, they often seek position of authority year-in and year-out with aimlessness and uselessness.

Leadership Quality:

The quality of a good leader will speak for him or her, as far governance is concerned. In the recent past, there were so many leaders with no quality leadership styles. Many of these so-called leaders could not differentiate their left hand from their right hands. These types of leaders do not have any plan for Nigerian youths, except to loot and manipulate politics against the young enterprising youths. This is an era, where enabling business environment is a trait of a well-democratic state for youths.

Severe Wastage:                                                                                                         

Where there is no vision, knowledge is wasted. Where there is no dream, people grope in the midst of surpluses. A visionary leader optimizes all the resources available to him or her. He or she minimizes wastages and maximizes people’s potential in all ways possible. The resultant effect is to prepare young people to be empowered and productive in all walks of life. But, there are signs of wastages over the entire nation. These signs show that, the numbers of visionless leaders in all vital areas in Nigeria are large.  You should critically be noted that, lack of vision will often result to wastage.

Education:

It is often said that, KNOWLEDGE IS POWER. In a nation, where 80% of the people are educated, there is high tendency that, the rate of social and economic development will be stable and business activities can always be increased. However, in a situation, where 40% of the population are educated and cannot differentiate their reasons from emotions, then there will be serious problem as far as the business activities of their nation are concerned. Planned education brings multiple gains for national growth and unity. As bad as it may be, majority of Nigeria populace are not educated. This situation encourages leaders to break laws and loot the nation’s treasury at will. The effect of this is no business activities will be done effectively.

Technology:

It is very hard for a nation that is involved in severe wastage of all resources to fully develop technologically. Knowledge brings innovations innovation brings the desired technology. This effect of technology can obviously be seen, when the rate of social and economic development is perfected by advanced nations in the world. However, foreign technology cannot effectively work for business and economic activities, except the indigenous technology. Nigeria foreign imports of technology are very high, without developing local ones which will be relatively cheaper to that of foreign ones. Nigerian leaders will always find technological advancement a mirage due to this reason. Lack of home -grown technology makes business activities to be very expensive.  Consequently, kill the spirit of home-based young entrepreneurs.

Security:

Security of any citizens of a nation is guaranteed by that nation. Similarly, a good leader must provide effective security systems that will make people to be business and people-oriented. This security may come in form of food, good business environment and so on. Annually, security votes are being allocated, but many Nigerian youths have taken to different social vices because of lack of planning for such votes. It is very important to note that, security of a nation is directly proportional to empowerment of the youths.