Organised Private Sector of Nigeria (OPSN) Urges Tinubu To Improve Business Environment To Attract FDIs

By Clement Alphonsus
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Segun Ajayi-Kadir (Director-General of the Manufacturers Association of Nigeria (MAN)

The Organised Private Sector of Nigeria (OPSN) has advised the President Bola Tinubu to improve the business environment to effectively attract foreign direct investments (FDIs).

This was disclosed following Tinubu’s recent business trip to the United Arab Emirates (UAE), claiming that he was busy jetting out of the country seeking investors, whereas Nigeria has many investors who could generate the needed investments when given the enabling environment.

OPSN expressed worries on how toxic the country’s operating environment is, which has led to many local businesses relocating to neighbouring countries. It further argued that if the country’s operating environment was favourable for businesses, both local and foreign investors would invest and the nation would seamlessly attract FDIs and generate more revenue.

The former president of NECA and Chief Executive Officer of Neimeth Pharmaceutical, Samuel Ohuabunwa, however advised the investors and others who are doing business in Nigeria not to look at how harsh the operating environment is.

The Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, noted that Nigerians needed much from its leaders, stressing that what shapes a country is when the leaders take bold steps and initiatives to impact positively on the citizens.

He said, “We run an economy where the environment is not conducive for business but you see a resilient investor and you see people against all odds believe in Nigeria.

“We are gathered here to ensure that Nigeria, even as it is operating far below its potential, takes its place as a leading economy in Africa."

Also, the Director-General of NECA, Adewale-Smatt Oyerinde, explained the challenges of regulatory barriers, multiplicity of taxes and threats of strikes and protests, stating that despite all, organised businesses remain persistent.