Business
Nigeria business environment over-regulated – NESG
The Chairman of the Nigerian Economic Summit Group (NESG), Asue Ighodalo, said on Tuesday the Nigerian business environment is over-regulated by the Federal Government.
Ighodalo, who disclosed this at a forum in Abuja, said the tight regulation is affecting the Nigerian market and preventing foreign investors from coming to the country.
He was reacting to the decision of the microblogging platform, Twitter to locate its African headquarters in Accra, Ghana.
He said Nigeria needs to encourage investment by going back to the drawing board.
READ ASLO: Buhari’s govt discourages investors into Nigeria –Atiku
The businessman said: “The economy of Nigeria is overregulated. The overregulation of the Nigerian economy and private sector participation affects investments.
“It is a chicken and egg thing. As a developing economy, you want people to bring money to invest, create jobs, pass on technology and skills. If there are jobs and people are earning, income is being distributed and redistributed.
“We have to go back to the basic. We need to encourage and attract investments into Nigeria.”
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.