Nigeria needs to improve the way it does business if it is to fulfil its potential to become one of the world’s top economies, a leading economist said on Tuesday.
Nigeria needs to make business efficient
Jim O’Neill, who has predicted that Nigeria could become one of the next global economic powerhouses, said the government needed to lead from the top to make doing business more efficient.
“What is clear is that it needs to be better,” the former chairman of Goldman Sachs Asset Management told a news conference at an Africa Finance Corporation (AFC) summit in Nigeria’s financial hub, Lagos, on infrastructure challenges.
Higher standards needed
“I think it’s incumbent on all of Nigeria’s 168 million people that the leadership of this country in terms of policy makers start to set themselves higher standards for the maintenance of their weekly business lives. “Start penalising yourselves if you don’t turn up for meetings on time. Don’t blame it on Lagos traffic or Abuja traffic. Africa and Nigeria are not the only places in the world with infrastructure challenges.”
Developing a way through Nigerian traffic
Early in the year we covered a story about a young Nigerian developer who created an app for Nigerian traffic so maybe there is no excuse for bring late. Can the Nigerian tech scene help solve a problem that plagues business in Nigeria, or do outsiders just have to accept this is the way it is in Lagos?