Govt Urged To Create, Implement Enabling Legislations For Business Survival

. Platforms Africa Sues For Improved Continental Economy

GOVERNMENTS across African continent have been urged to create and adequately implement enabling legislations that would aid the survival of businesses.

Speakers at the maiden edition of the Platforms Africa Continental Forum, Lagos 2022, said the harsh operating environment is posing grave danger to survival of business in Nigeria and some African countries including Ghana and Kenya.

A Nigerian Constitutional Lawyer and Former Chairman, Chartered Institute of Personnel Management (CIPM), Ikeja Branch, Jide Ologun, in his presentation at the forum bemoaned poor implementation of policies, which has further improverished the citizens despite huge natural resources inherent in the country.

He said Africa is so blessed with a population of 1.4 billion people, while Nigeria with a population of over 200 million has over $441 billion Gross Domestic Product (GDP) as at 2021.

Ologun added that “Nigeria is so blessed with abundant resources, but it is unfortunate that no fewer than 133 million, about 63% of the population are currently living in multi-dimessional poverty,”

Giving an example of Liz Truss who reigned as the prime minister in the United Kingdom having seen that her policies may not rescue the prevailing situation in that country, he challenged Nigerian legislators to ensure that the common wealth of Nigeria is utilised for the common good of its people.

He empahised the fact that Nigeria has oil in abundance but the masses can hardly state categorically the benefits enjoyed from the resources so far

Stating that Nigeria has bitumen in abundance, he said Nigeria should not suffer bad roads, because we have the resources in abundance.

He said Nigeria has flared enough gas that could provide electricity for about 8 million citizens.

“It is unfortunate that our assets are fast becoming a liability,” For example real cocoa is from Nigeria but the finest of chocolate cannot be traced to Nigeria.

Ologun said: “More than $3.3 billion has been lost to oil theft since last year and at a time when other oil producers are having a petrodollars splurge Nigeria can’t even meet it’s production quota.”

Describing oil theft as large-scale economic sabotage, he said this is to show that Africa does not lack resources, but Africa needs resourcefulness.

Being specific about Nigeria, Ologun said although the nation has laws to facilitate prosperity, but the implementation is very poor

“We need conscientious leadership. Legislations has a critical role to play in business survival in Africa, and committed implementation will is the vehicle for creating a prosperous continent and country that delivers value to it’s citizenry within the confines of good governance,” he said.

Ologun urged all arms of government to work relentlessly to ensure an improved standard of living for the citizenry.

Partner, Bloomfield Law Practice, Ayodele Oni, said business owners usually adopt different survival strategies during harsh times. In Nigeria a large percentage of start-ups die within a short period.

He said failure of start-ups has been linked to inconsistency of govt policies, the applicable regulations, and multiple taxation among others.

Oni said the ninth Nationals Assembly has tried to encourage businesses with the passing of start up law recently. He added that they have been prolific in passing bill into law such as the Civil Aviation Act, Petroleum Indutry Act, Terrorism Act, Electoral Act and the Start-Up Act, among others.

He said: “It is not sufficient to have laws without implementation,”

Oni said the 10th National Assembly should do more around the ease of doing business, insecurity which has largely affected businesses, and build infrastructure.

“They should also encourage the private sector, privatise some critical infrastructure, and rejig the educational system,” he said.

A top Ghanian government and public affairs analyst, Francis Kokute, said: “Our politicians don’t seem to understand what benefits democracy offers us. Unfortunately, our legislators think about their political party first before thinking about the larger society, but this is killing our democracy.

“I think that we were not prepared for democracy. It was like something imposed on Africans and it is hanging on our necks. Africa should be looking at a redefined democracy to suit us,” he said.

A renowned public Affairs analyst and journalist in Kenya, Bosire Japheth Ontiri said the same scenario plays out in Kenya where businesses struggle to survive due to lack of enabling environment.

Ontiri said political intrigues in Kenya has gone so deep that is currently eroding investors confidence.

He said there is hope for Africa because its resources are enough to feed the world.

He urged the legislators and everyone in public office to be transparent and dedicated to improving the standard of living of the citizenry.