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'Business climate in Nigeria still not friendly to entrepreneurs'

26 November 2013, 19:14

Lagos - The Nigeria Association of Small and Medium Enterprises (NASME) says the nation’s business climate is still not friendly to indigenous entrepreneurs.

NASME spokesman, Nerus Ekezie, made the observation in an interview with the News Agency of Nigeria (NAN) in Lagos on Tuesday.

Ekezie said that the business environment was not friendly as should be due to over regulation by the Federal Government.

“We are going through a lot in terms of regulation as most of the businesses are finding it difficult to make sustainable profits.

“The growth rate of our business is being hampered by the obnoxious laws in place,” he said. 

According to him, many of the indigenous entrepreneurs are being challenged daily by multiple taxes by the various tiers of government.

“Our members are paying large chunks of their working capital as taxes to different agencies of government.

“Nothing will be left for the development of the businesses if we have to pay so much as taxes,” he said.

Ekezie described as unfortunate Nigerians’ high expectations from local entrepreneurs in terms of quality goods and services in spite of the hostile business environment.

“Producing locally has been very expensive as raw materials and other factors of production like finance, labour and machinery remain high,” he said.

-    NAN


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