Pastor Sam Adeyemi once posited in one of his books that the reason he started the success power series, was to enable him teach his members how to make money so that they could have something to give for the work of God and the church.

" It is pointless asking people to give when they have nothing to give. " He elucidated.

I have always wondered how come the Nigeria e-commerce sector and by extension the economy was not attracting as much FDI as it ought to.

Tech-giant Google on Monday announced plans to invest $10 billion in India over the next 5-7 years by way of equity investments, partnerships and other arrangements to “accelerate digitisation” in the country.

The announcement assumes particular significance given the impending gap in the country’s tech investment ecosystem following the Centre’s clampdown on Chinese technology firms.

India’s antitrust watchdog recently gave its blessing to Facebook and Reliance Jio Platforms for their $5.7 billion deal. This simply means Facebook is sinking additional $5.7billion into the India economy.

Nigeria has all the parameters to attract huge FDI of this nature into the economy, most especially Lagos state that is over ripe, willing and ready to set the trend in this sector.

What then is wrong with our dear country and why are we not taking advantage of abundant investment and job opportunities available in this sector?

There is no other culprit than 'Instability in policy making'. This is one of the major cancer killing the Nigeria e-commerce sector, and by extension the economy.

In 2015-18, Lagos was discussing the possibility of regulating Okada usuage in Lagos. This gave the impression that Okada hailing business could thrive in Lagos market.

Lagos State took a further step by issuing licenses and guidelines for Okada hailing business. This was a prima facie evidence that she has opened her doors to the nature of business.

There is no gainsaying that this policy eased the stress of business and reduced the man hour wasted in traffic everyday. The figures were looking good and enticing to investors.

Go-kada raised funds, acquired it's license and started business. Opay saw Go-kada's success story and lunched into the Nigeria market with his competitive edge.

They offered premium services at rediculous price that saw Go-kada gasping for breath.
Soon, other smaller Okada hailing start-ups followed suit and doing business suddenly became heathy in planet Lagos.

Lagos reversed the decision to ban Okada hailing business without lengthy notice or a consideration of how it will affect her economy, investors funds and the numbers of job created in that sector.

People's investment and jobs flew through the windows, and business genius suddenly saw their ideals became useless, worthless but disturbing like the Hamarthan haze.

Opay's Okada hailing play book was buried deep into the Lagos lagoon, and Go- Kada finally gave up that ghost like a patient on life support. It was quite painful.

The question is why did Lagos State government issue license if she knew the policy had a short life span?

Trust is paramount in today's business world. And when that trust is broken, words means nothing.

I wish investors will one day sue the Government of the day for these policy flip flops.

Adieu Fahin Saleh. Shits happens but life must go on.

If you have seen the movie titled 'Start-up', you will understand why I am so pained.

We should do something about these policy flip flops. We could make as much money as we do from oil, if we decide to plan long term and stick to the plan.

This will create more IGR and will limit the tax burden on the citizens. There is a limit to madness, let's not become another Mali or Sudan.

I rise.
Cc:
Seun, Mynd44, lalastic'lala and Uboma.

How do we settle this matter?

Good writeup bro; same thing I thought about on Tuesday. Our government could care less about the plight of investors.

olaric:
Good writeup bro; same thing I thought about on Tuesday. Our government could care less about the plight of investors.

That's the main issue. They want FDI but they do not care about those bringing FDI.