Solutions to some of the challenges faced by Nigerian entrepreneurs

There are myriads of problems facing the Nigerian
entrepreneur. Attempting to mention them all will lead
to an endless discussion. Among the various
challenges facing Nigerian entrepreneurs, the following
are obvious.
1. Security Issues - When there is no guarantee of
security of lives and properties, it is difficult to run a
successful venture.
2. Unstable Political System - The various crisis
rocking the various governments at the three tier of
government causes uncertainty and increases the risk
associated with investments.
3. Energy Crisis - This need no further explanation. So
many manufacturing firms have shut down due to their
inability to compete with foreign products. The reason
is not far fetched, it is expensive running a factory
with generators. In organized societies, generators are
used as back-up plants to avoid distruptions in
production process whenever there is power failure.
The reverse is the case in Nigeria. Generators are the
main source of electricity for all and sundry. Constant
electricity supply is still a fairy tale.
4. Poor Transportation System - The transportation
system in Nigeria is quite poor. The roads are full of
potholes, the railway system is not functioning
anymore, the waterway is undeveloped while the air
transport system is in crisis. It is therefore expensive
moving both raw materials as well as finished
products from one point to another.
There are several others, but I believe that if these ones
are tackled first, the situation will greatly improve. The
unfortunate thing is that most of these problems are
not issues that can be tackled by the private sector. We
simply need to get good leaders who are
knowledgeable and are committed to the welfare of
Nigeria into leadership positions at the various tiers of
government. Starting from the local government level
to the Federal.