A group of foreign companies operating in Nigeria, Tuesday tasked the federal government to improve the business environment, stressing that business cannot thrive in a hostile environment.
The Austrian, German and Switzerland (AGS) Business Outlook for 2017, described the business environment in the country as negative noting, however, that they are optimistic the situation will improve by 2018.
The AGS survey was conducted by WFO Rodl and Partner Advisor Limited while the report was presented at the AGS 2017 Business Outlook in Lagos by Olanrewaju Yusuf, Associate Director, Advisory Services, WFO Rodl & Partner Advisor Limited.
The report also noted that, poor electricity supply is the major challenge undermining the businesses in Nigeria while foreign exchange, security, corruption, oil price and transportation remain additional challenges to doing business.
Consul General of Switzerland in Lagos, Yves Nicolet, said the challenges Swiss companies faced in Nigeria were similar to those faced by Austria and German companies. He said, “It is really important to know how Swiss see the future of economy in Nigeria and through this survey we received a lot of information which can help us try to improve our businesses and also counsel new companies that would like to penetrate the Nigerian market. (Vanguard)
