By Nnabugwu Chizoba
Job creation is key in improving
the well-being of all Nigerians, regardless of their personal circumstances and
location. It is indeed a key component of the country’s development agenda set
out in Vision 20:2020.
Following this development, good
governance, with regard to the establishment of effective regulatory reforms and
putting in place frameworks that promote institutional structures rather than
persons at both the federal and state levels are essentially critical for the strengthening
of the private sector and building a business climate that encourages inclusive
growth and sustainable socio-economic future for all Nigerians.
On the basis of the foregoing, therefore,
you will recall that
brought you a report on this
platform that the Deustsche Gasellschaft fur Interntionale Zusammenarbeit, which is translated
in English language as “German Agency for International Development”
(GIZ), working with the Corporate Affairs Commission (CAC), held a
workshop in Jos, the Plateau state capital, on “Business Registration, and Ease
of Doing Business in Nigeria”.
The workshop which from all indication
is the fall out of a World Bank report that ranks Nigeria 169 among 190
economies in the ease of doing business. The ranking of Nigeria improved to 169
in 2016 from 170 in 2015. It is important to note here, that Economies with a
high rank (1 to 20) have simpler and friendlier regulations for businesses. To say
that the rating of Nigeria in that report is quite disheartening, will only, mean
stating the obvious.
It is on the strength of these
that I consider the workshop organized by the GIZ as not only apt but also very significant
for obvious reasons. This is better understood if the 2017 World Bank report on
the Ease of doing business in Nigeria (briefly highlighted in this piece) is
considered as the motivation behind the workshop.
The GIZ workshop which centered on “Business
Registration and Ease of Doing Business” is healthy and in fact a welcome development.
To start with, Business Registration, is a key element of the assessment by the
World Bank Ease of Doing Business Report. It is under the head “starting a business”.
Until recently, when the federal
government of Nigeria, picked “Ease of Doing Business” as a Project and
constituted a council for it, headed by the Acting President of Nigeria, Prof.
Yemi Osibanjo, one can say that adequate attention has not being paid to the
World Bank report. This may explain the reason for this emergency development: the
constitution of the Ease of Doing Business team. The need for this can never be
over emphasized, especially if it is considered that the whole effort of the
federal government, in this regard is motivated by the urgent need for private
sector development, which obviously, is expected to create new jobs and throw
up more opportunities for the utilization of local resources for both industrial
and consumption purposes, in Nigeria.
The “Ease of Doing Business in Nigeria”,
as a Project, is appreciated, especially when it is considered that the Deustsche
Gasellschaft fur Interntionale Zusammenarbeit (GIZ): the German agency,
implementing technical cooperation projects worldwide on behalf of the German
Federal Ministry of Economic Cooperation and Development (BMZ) and other international
development partners, is the driver of the project implementation activities.
The other top priority regulatory issues
that affect the life of a business and are selected for reform and strengthening
in the project, tagged “Ease of Doing Business in Nigeria” are fundamental for
private sector development. They touch on five other stages of the life of any
business and include the following: -
1. Dealing with
construction permits
2. Property Registration
3. Getting
electricity
4. Getting
Credit and
5. Enforcing contracts
The importance of reforming and strengthening
regulations relating to the above, is what should spur the average Nigerian and
draw their interest, for strict monitoring of the entire implementation processes,
to ensure that the project is not derailed. The People must learn to hold leadership
at all levels accountable for their actions and inactions. Therefore, reforms necessitated
through this project must be seen to be implemented, and where lapses are occasioned
by the actions and inactions of office holders, appropriate sanctions must apply.
The same holds true for the private sector practitioners that may be found culpable.
Lack of political will, supported by inactive
citizenship activities in the past, has made it possible for the Nigerian
economy to lye prostrate in the midst of abundant human and natural resources.
That Nigeria, accounts for a
large chunk of the population of Sub-Saharan Africa is not a mere claim. It is also
a fact that Nigeria is the seventh most populous country in the world. It is
equally not in doubt that Nigeria is also blessed with arable lands, serene
environments, waterfalls and very beautiful landscapes. As if all these are not enough, the Country, has
a large domestic market.
The above has given rise to
postulations in the past, among them is the one that said “Nigeria is well
positioned to join the group of large emerging markets and be the continent’s
powerhouse”. It is on the basis of this, that Nigeria has been identified as
one of the promising “MINT” economies.
“MINT” is an acronym that stands for:
·
Mexico
·
Indonesia
·
Nigeria and
·
Turkey
Undeniably and profoundly so, is
the disturbing fact that Nigeria lacks a strong economic and political will, in
addition to a weak institutional base and lack of support structure necessary
to navigate through the systemic distractions that are not far from any
environment that the people are richly endowed.
The many years of operating a
mono economy that is hinged on oil, has ensured that the economy is not only
shaky but is hanging on a bloated platform sustained by wasteful and corrupt office
holders. This ugly trend has ensured that majority of her workforce are schemed
out of the few existing productive activities, with the attendant risks: youth
restiveness, robbery and other crimes on the increase.
Other pointers to the effect that
the human and natural resources of the country have not been effectively
managed, include, visible cases of rising inequality, widening gap and
disparities between the rich and the poor, high level unemployment and consistently
increasing poverty rate. Reports have it that more than 60% of the population
still live in extreme poverty, with 1 in 5 Nigerians unemployed. A clear
indication that; Nigeria is not maximizing her human and natural resource
potential.
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