Nigeria: The Marathon Path to Ease of Doing Business

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Acting President, Prof. Osibanjo

By Bukola Ogunyemi

Blessed with an abundance of natural resources, vast arable land, a temperate climate and a teeming population of young vibrant people, Nigeria has the potentials to be one of the biggest economies in the world. However, the potentials for greatness have failed to translate into any viable economic development due to decades of bad leadership, gross mismanagement of public funds, institutionalized corruption and infrastructural decay.

Nigeria has for a long time developed an unenviable reputation as one of the hardest places to do business in the world. The economic implications of a harsh business environment, however, have been mollified for decades by steady revenue from crude oil sales. This false dawn of economic prosperity, therefore, served as insurance against the repercussions of paying lip service to create an…

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