Frustrations Of A Business Owner In Nigeria

@BOMANY

system makes people work on/ with it.
smart people who know how to work the system

both comments stated above in my own opinion are inter-related and mean the same thing

For example china has a very dominate centralised political govt. liberal economic reforms is a front they protray to the outside world.
However Corruption in China is concentrated in sectors with extensive state involvement, such as infrastructure projects, real estate, government procurement, and financial services. Chinese govt has many laws, rules and directives against corruption, however implementation is ineffective. Govt officials in the regional and local levels are very corrupt due to the economical reforms in place hence making corruption a high return, low risk activity. smart people who know how to work the system A SUCCESSFUL SYSTEM

if we are not careful will make Nija a failed state
I disagree! Why?

Nigeria is a country that has experienced war in the 1960s and everybody knows that is not the way forward. Most Nigerians under the age of 50
are educated to high school level. We are very entreprising and business oriented. We have got a very large informal business sector which is
the back bone of our economy. This system has existed for centuries b4 the colonist came. This is one of the reason the british could not run the
country by direct rule because we are self sufficient people. Govt or no govt people will survive.

That is why the yard stick the West are using to evaluate and measure us flaws. In the UK, The citizens are heavily reliant on govt policies. The
country is heavily regulated. What they have is a welfare system which covers the govt policy blunders in real terms. 40% child Poverty rate. They have a 10 million work force population. over the last 12 months nearly 350 thousands lost their jobs making the economy shrink by 4.5%. Do you
know the cause ? Govt policies that favoured the financial sector which was exploited by the city guys.
smart people who know how to work the systemA SUCCESSFUL SYSTEM


The system makes things up side down, we need to correct it but HOW

John F. Kennedy And so, my fellow Americans(Nigerians), ask not what your country can do for you; ask what you can do for your country


Naijas  must invest in their own country to create employment.
Increase investment in Manufacturing
Diversify business activity in other sectors - Agriculture, fashion, textile, etc
Stop re-electing politicians with bad track record
Be more law abiding
stop nepotism and favourtism
stop celebrating ill gotten wealth.

The mentality must change.

@yommyuk, I wish all nigerians will become as open minded as you are. In my last comment on this topic i said alot about depending on ourselves but Nigerians are not quite ready to stop blaming the government and take their destinies into their own hands. Sooner or later, things will happen that will force everyone to become self reliant and only then would we start growing.

Oga Author, R u not a Nigerian? This one you are referring to Nigerians as them,  and your location is port-harcourt na wa oh!

tru talk Mr gold.

We get choice?

the problem is that there are so many scams and 419 people out there that even legitimate businesses are seen as one. its too bad but we are 90% corrupt

Thanks to all you great guys! and ladies ! on this thread . I am new to the link but would like to salute you all for your various contributions . To you Nuclearboy! well done for your thought provoking write up .Nuclear boy you may not appreciate or believe this but I can tell you confidently that you are not a 'Nigerian' if you know what I mean. You sound more like Chinese to me . You are 'Wicked' boy and you should keep this up . The game is not for the average business man or the average investor otherwise you lose out . You have to be the top of the range to Excel which you have clearly demonstrated by your approach and mind set which says loads about you.
I was opportuned to visit The people's Republic of China recently on business trip . It was my first trip to that part of the world . Shanghai is a beautiful city and also travelled to Zhenghzhou capital of the Henan Province as I was told ,more on this to come later ! . The business trip was successful but I was Angry and sad  for Nigeria and was crying in my heart for Nigeria throughout my one week stay in China.
All you see and feel and smell  around you is industry, hardwork and determination  of young men and women! It tells you loads about the mindset of the people hence the point about Nuclearboy!
From what I saw during my trip young people essentially drive the Economy mainly between ages 18- 28/30 . Boy if you are 35yo you are too old and I think this is serious . Every where you go. Airports, duty free shops , the hotels,restaurants ,businesses the yYoungpeople are at the frontline smartly dressed,active and full of Energy and courteous .I Suspectthe big guys are behind the scene.
There is a lot more to be said but in summary a people can achieve a lot by simply switching their 'MINDSET' and be ready to do the hardwork as exemplified by the 'Chinese boy' in the House Nuclearboy!

Later Guys !

BigstuffWhen the student is ready the teacher appears! - Robert Kiyosaki

Can you tell me it is easier to setup legitimate biz in this 9ja?

I took time to read this thread from beginning to the end, and quite appreciate the fact that my time was not wasted. But why? Why cant we do business in Nigeria like every other places.

In 2005, I was invited by a friend to come to Nigeria and invest in Fish pond, he said so many beautiful things about it. Showed me, the feasibility, a land I can lease etc… I thank God today that I didn’t lease that land, but bought one. Built a pond and started the fish pond. 3 years down the line nothing to show for the whole investment; economy problem, bad employee, power, etc. I had to close the business. My only gain was the land appreciation. So I decided to keep the land. Only this year I heard some omo onile were thinking of selling the land, had to rush to Naija to sell the land off. I kept the money in one of the banks in Naija. Now with all this news about the banks in Naija, I am now thinking of moving my money out as soon as it matures. If my money is with me I can sleep with 2 eyes closed.

But then, should it be like this? I love my country,  I wish to invest in it and help the economy, I wish to bring in more fund and invest more but now even the little I have, have to be moved out again. It’s just too bad.