Experts seek security, enabling environment for businesses to thrive

FOR businesses to thrive in Nigeria, the government must provide security, viable policies and an enabling environment for the promotion and development of industries, experts have said.

Given the current challenges of foreign exchange scarcity, irregular government policies among others, they said businesses should show resilience and value as this will serve as a step in the right direction.

The experts spoke at the Economic Summit and B2B event as part of the French Week 2022 organised by the Franco- Nigeria Chamber of

Commerce ( FNCCI) in Lagos yesterday, titled, ‘ France economic presence in Nigeria: leveraging the opportunities.’

Partner Audit, Mazars, Osamudiame Adams, said there are challenges everywhere, but feels the biggest thing is value for businesses coming into Nigeria.

Adams said: “If you are sure of the value you are bringing to the table and you have the resilience to follow through, it fronts every challenge faced. There are companies in Nigeria doing exceptionally well, which boils down to value, impact, resilience and also ready to play by the rules.

“There are a lot of opportunities and we believe so much in looking at the positives and making sure that your value is there and you are resilient enough and have the right partners to help you through the right process,” he said. Director for Nigeria at Business France ( Export), Igor Chlapak, said, it is quite a challenging environment and markets in oil and gas countries especially Angola but that of Nigeria is different, it is enormous.

Chlapak said the private sector is extremely performing and developed here in comparison to Angola or Libya adding that the ease of doing business is sometimes hard in those countries, which might be strange.

“The private sector is expecting some reforms that would encourage day- to- day business, especially when it comes to basic infrastructure like roads, logistics and energy, which are determinants for running businesses in a country,” he said.

Speaking on how to identify businesses in Nigeria, Country Director of PROPARCO, Jean Guyonnet, said identifying business is not really a problem in Nigeria; it is a very dynamic economy so a lot of business opportunities are there.