Speculated parallels are playing out but the government keeps taking away jobs and opportunities -By Issa Babatunde Ahmed

It is an indispensable fact that SME (Small and Medium Enterprises) is  key to vast economic growth of a nation and hence, needs people with great versatility, creative ideas and relevant academic learning and exposure to implant it particularly in a developing country like Nigeria.

Nigeria is obviously one of  the world’s next great growth market, it’s young, fast growing, and with a high number of youths, it’d soon be one of  the largest working population, with all this, Nigeria can lead Africa in competing with likes of China.

A tangible reason why many youths are with a vision, a vision of becoming an established, outstanding, seasoned and successful business owner, managing chains of businesses such that their operations and survival will be well implemented, monitored and guaranteed. Delivering quality services to the society, an outstanding future many are endeavouring to build for themselves in their chosen areas. 

Despite being regarded as a poverty capital, Nigeria remains Africa’s largest economy with a population of over two hundred million, the prevailing problem of not creating the right business environment by the government  is worrying. With a myriad of investment opportunities in the country, Entrepreneurship has become inevitable for many though low-level economic development has also made anyone who wish to survive and not just exist an entrepreneur, while those with resources invested in streams of internationally acquired experience and exposure to be able to do things differently.

From tech, which is fast becoming an integral to the growth and development of the Nigerian economy, to entertainment industry to transportation. Therefore, these sprinkles of investment success have reinforced many resolve to stick with entrepreneurship then attract foreign investors, create opportunities, wealth and increased interests in the near future to invest more thereby exploring and creating employment.

With the speculated parallels playing out in Nigeria,  it’s  not just about the growing  population but also the level of energy and enthusiasm of the youths to put the continent on a global radar despite lack of basic resources to thrive by its government, there are tendencies the development will probably take a different shape and form, the young population will drive the development on a different scale because of the availability of technology. Where Nigeria is at the moment in terms of resourcefulness was where China was 25 years ago, which can actually be leapfrogged with technology and that opens up more opportunities that many may not have prognosticate.

The country was recently highlighted as the latest African country attracting numerous investors in the tech world with Nigeria-founded startup Flutterwave, becoming the fourth Africa’s $1bn unicorn status after raising $170m in a Series C round joining another Nigerian payments company Interswitch to have reached such landmark.

Despite all the prospects, the environment has made it difficult for foreign investors to set up a base in the country instead they chose neighbouring countries. Twitter has about 39 million Nigerians on its platform but chose Ghana whose entire population is about 32 million as it’s first African headquarters is a clear evidence that the most populous black nation is hostile and toxic with investors.

Deliberate mislay of technocrats and appointments of incompetent hands in sensitive government positions led to stifling regulations, cruel or illogical policies and political instability is  discouraging investors, the ban of commercial motorcycle from core business and residential areas of Lagos is still schocking  to the internationally funded ride-hailing platforms like Gokada, ORide and Max.ng.

The federal Government neoteric action to ban the micro blogging site reaffirms twitter  statement and decision to choose Ghana over Nigeria as claimed in a statement praising  Ghana “as a champion for democracy a supporter of free speech, online freedom and the open internet.

A country that has been through multiple recession in the last six years in the fourth quarter of 2020, had over 33 percent of the labor force unemployed, according to the Nigerian methodology. A figure projected to increase further in 2022 but the best a government that has failed to perform its constitutional duties has done is to regularly  take the few jobs and opportunities away from the youths who are trying survive in the midst of the hardship while their only concern is to either remain in office unchecked or winning the next elections, stockpiling their foreign bank account with zero concern about the national integration and general service to the people.

The fear complex in the country is absolutely terrifying as the country is fast becoming a suicide route and nothing rather than mismanagement of the funds and resources supposed to be used for the creation of job opportunities but the recent thread of taking jobs and opportunities away from the people will definitely take a massive toll on people who are already frustrated. From crypto ban to suspension of twitter on reasons influenced by personal interest and not of the country’s.