Business climate in Nigeria still not friendly to entrepreneurs – NASME


The Nigeria Association of Small and Medium EnterprisesThe Nigeria Association of Small and Medium Enterprises (NASME) says the nation’s business climate is still not friendly to indigenous entrepreneurs.

Thank you for reading this post, don't forget to subscribe!

NASME spokesman, Mr Nerus Ekezie, made the observation in an interview with the News Agency of Nigeria (NAN) in Lagos on Tuesday.

Ekezie said that the business environment was not friendly as should be due to over regulation by the Federal Government.

“We are going through a lot in terms of regulation as most of the businesses are finding it difficult to make sustainable profits.

“The growth rate of our business is being hampered by the obnoxious laws in place,” he said.

According to him, many of the indigenous entrepreneurs are being challenged daily by multiple taxes by the various tiers of government.

“Our members are paying large chunks of their working capital as taxes to different agencies of government.

“Nothing will be left for the development of the businesses if we have to pay so much as taxes,” he said.

Ekezie described as unfortunate Nigerians’ high expectations from local entrepreneurs in terms of quality goods and services in spite of the hostile business environment.

“Producing locally has been very expensive as raw materials and other factors of production like finance, labour and machinery remain high,” he said. (NAN)

Babatunde Akinsola
Babatunde Akinsola
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

Share post:



More like this

IX Africa Launches Kenya’s First Hyperscale Data Centre in Partnership with Schneider Electric

July 16,2024. IXAfrica Data Centres has launched East Africa’s first...

NECO releases 2024 examination results for Unity schools

July 16, 2024. Azonuchechi Chukwu. The Federal Government has released the...

Nigerian Singer Wizkid celebrates 34th birthday

July 16, 2024. Azonuchechi Chukwu. Nigerian singer and songwriter Wizkid triggered...

Chinedu Ikedieze celebrates wife on her birthday

July 16, 2024. Azonuchechi Chukwu. Nollywood actor Chinedu Ikedieze popularly known...
× How can I help you?