I couldn’t agree with you more. Sir Richard Branson’s indictment of the prevailing business culture in Nigeria, taken together with the pervading insecurities, mock the Government’s much-talked-about drive to attract “foreign direct investment”, and from the Diaspora.

 

It goes without saying that a business culture such as Nigeria’s, as experienced by Sir Richard in his eleven years of failed business sojourn in Nigeria, will only continue to be attractive to “the crooked (foreign investors)” mostly from China and India; and the callously rapacious multi-national oil companies.

 

Apart from the fact that these two groups of foreign investors “don’t care about corporate responsibility” as they voraciously line their corporate pockets “off of the sweat (and natural resources) of hapless Nigerians; the one group routinely denies employment to Nigerians in preference to own nationals; the other wantonly and devastatingly degrade the environment and decimate livelihood of the people, with the government’s tacit acquiescence.

 

Dr. Chukwuemeka Chukwuma-Eze Obiajunwa       

 

“dAme jOo”

Branson’s negative business experience in Nigeria is rather unfortunate.
It appears the only foreigners thriving in the Nigerian business
environment are mostly the crooked ones; who don’t care about corporate
responsibility and who simply want to make a quick buck off of the sweat of
hapless Nigerians. Some of the Chinese and Indian “investors” in the
Country take the lead in this regard.

Our officials lack the patience for the typical gestational period of a
business investment. Instead, they prefer money-doubling (quick return on
investment- at 100% ROI), the kind they get through oil blocks or
embezzling the common wealth.
Instead of creating a more viable business environment for corporate
Nigeria and foreign investors, the government continues with the ‘business
as usual” mentality. And the same government claims to spend a lot of time
and resources seeking foreign direct investment, while failing to encourage
local/diaspora investors and small business owners in the Country.
Nigeria has a long way to go with the culture of greed firmly practiced by
the (s)elected officials and their acolytes.

Saludos,
jOo

RICHARD BRANSON VERDICT ON DOING BUSINESS IN NIGERIA

Richard Branson the chairman of Virgin Atlantic alluded to a number of issue
bordering on doing business in Nigeria:
“…we have virgin’s ill-fated footsteps by setting up a new airline in
Africa in conjunction with Nigerian government…the details of the doomed
attempts to crack the Nigerian market in the 2000s is better imagined…we
put …together a very good airline-the first airline in West Africa that
was ever IOSA/IATA operational safety audit accredited but unfortunately it
got tied down to the politics of the country…we led the airlines for
11years…we fought daily battle against government agents who wanted to
daily make fortune from us, politicians who saw the government 49% as a meal
to seek for all kinds of favour…watchdogs(regulatory body) that didn’t
know what to do and persistently asking for bribes at any point…Nigeria
people are generally nice but the politicians are very insane…that may be
irony because the people make up the politicians…but those politicians are
selfish…we did make N3billion for the federal government of Nigeria during
the joint venture…realising that the government didn’t bring nothing to
the table/partnership except dubious debts by the previous carrier, Nigeria
Airways…The joint venture should have been the biggest African carrier by
now if the partnership was allowed to grow, but the politicians KILLED it..
Nigeria is a country we SHALL NEVER consider to doing business again..”.