Nigeria has been regarded as one of the most difficult places to do business according to BMI’s July Operational Risk Report.

Deteriorating domestic security, terrorists’ attacks and severe fuel shortages are some of the factors that had made the country a dangerous place for business people in Sub-Saharan Africa (SSA). According to the report: “Nigeria offers investors one of the most difficult and dangerous operating environments in sub-Saharan Africa.

The major risks to businesses stem from the deteriorating domestic security situation, which is characterised by rampant criminal activity and frequent terrorist attacks, along with the country’s severe fuel shortages.” Out of 48 SSA countries that were reviewed, Nigeria placed 14th position and is behind Kenya, Ghana and South Africa and scored 37.9 percent in its Operational Risk Index According to the report, “inherent operational risks pose dangers to the safety of foreign workers and business interests, and also cause disruption to the country’s utilities infrastructure and transport network, both of which are struggling to meet the needs of an expanding economy and population.” “Pervasive corruption across both the public and private sector serves to further complicate bureaucratic procedures, raise legal costs and deter foreign direct investment.”

The report however identified the country’s low labour costs as a plus for investors and the availability of “a large pool of labour with increasingly diverse skills sets.”

Source: https://www.naij.com/878408-beware-read-nigeria-one-dangerous-places-business.html

Lie Mohammed come and defend your boss..

Go and tell that to dangote, otedola or other billionaire tycoons running flourishing businesses in Nigeria. Nonsensical nonsense!!!