Businesses Don’t Feel Secure Investing in Nigeria

Lagos_nigeria Nigeria’s business environment is now considered as unsafe and insecure. This is according to many international businesses that are pulling away from working with specific business and distribution companies in Nigeria until further notice.

As of mid-November, Africa Tiger Brands, the largest distributor of fast-moving consumer goods (FMCG) in Sub-Saharan Africa has decided to cut off funding to its Nigerian unit as it struggled to make profit.

Aside from businesses pulling out, some of the more chronic issues facing Nigerian businesses in country stifles economic growth. These issues include high interest loans from banks, a confusing tax system, inadequate power, and an insufficient infrastructure (lack of properly built roadways) that does not lend to mobility.

Until stability in Nigerian politics and Nigerian markets occurs, it is possible the country will continue to remain one of the most hostile environments for business in the region.