A Breath Of Fresh Air

Most Nigerians are not afraid to take their fate in their hands and pursue an enterprise of their dreams no matter the odds stacked against them by a harsh and deadly economic and business ecosystem that often is the graveyard of many a fantastic idea. Here is an environment where you provide everything for yourself, and in the end, you are either over-regulated or overtaxed by institutions that add little or no value to the success of your business.

The question begging for an answer is why are Nigerians so successful outside our shores and not so successful in our environment? The answer is our ecosystem – a combination of our structures, systems, and processes. It may be a surprise that I did not lay the blame on Nigerians.

First, in Nigeria today, either there are no enabling institutions for growth, or where such exist, they are not fit- for-purpose or have collapsed completely. The lack of responsive institutions to drive development is the bane of Nigeria. Individuals are stronger than institutions, and if they have enough power, they subvert the institutions and cripple them to achieve whatever short-term goals they want. These influential individuals are not accountable to anything and anyone.

Thirdly, Nigeria has not been blessed with a critical mass of visionary and transformational leaders both in the political and corporate sectors to move the country to its rightful place in the comity of nations. This leadership deficit has created more harm in our ecosystem than any other factor. Only a dedicated leadership will create the enabling environment that will bring about development.

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