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Tony Elumelu has said that Nigerian entrepreneurs need a business environment with predictable policies and real access to financing in order to scale their ideas and drive national growth.
Speaking at a recent economic forum, Elumelu explained that small and medium sized businesses remain the backbone of the country’s economy, yet they face persistent barriers created by shifting regulations and limited credit options.
He noted that policy inconsistency often disrupts business planning, discourages investment and creates uncertainty for founders who operate with already thin margins. Many entrepreneurs, he said, spend more time navigating changing requirements than building their companies.
Elumelu also highlighted the difficulty of securing affordable loans, pointing out that high interest rates and strict eligibility rules keep many viable businesses from accessing the capital they need to expand or invest in technology.
He argued that a stable environment would not only attract more private sector investment but also empower Nigeria’s growing youth population to build sustainable ventures. He emphasized that entrepreneurship is a proven engine for job creation and poverty reduction.
Economic analysts agree that predictable policy frameworks in areas such as taxation, regulation and trade can significantly improve business confidence. They also note that widening financing channels through banks, development institutions and private investors would relieve pressure on startups.
Government officials have said they are working on reforms aimed at improving the ease of doing business, but entrepreneurs continue to call for faster, firmer and more transparent action.
Elumelu reiterated that unlocking Nigeria’s economic potential will require more than rhetoric. It demands structural support that allows businesses to plan long term and access capital without prohibitive barriers.
Speaking at a recent economic forum, Elumelu explained that small and medium sized businesses remain the backbone of the country’s economy, yet they face persistent barriers created by shifting regulations and limited credit options.
He noted that policy inconsistency often disrupts business planning, discourages investment and creates uncertainty for founders who operate with already thin margins. Many entrepreneurs, he said, spend more time navigating changing requirements than building their companies.
Elumelu also highlighted the difficulty of securing affordable loans, pointing out that high interest rates and strict eligibility rules keep many viable businesses from accessing the capital they need to expand or invest in technology.
He argued that a stable environment would not only attract more private sector investment but also empower Nigeria’s growing youth population to build sustainable ventures. He emphasized that entrepreneurship is a proven engine for job creation and poverty reduction.
Economic analysts agree that predictable policy frameworks in areas such as taxation, regulation and trade can significantly improve business confidence. They also note that widening financing channels through banks, development institutions and private investors would relieve pressure on startups.
Government officials have said they are working on reforms aimed at improving the ease of doing business, but entrepreneurs continue to call for faster, firmer and more transparent action.
Elumelu reiterated that unlocking Nigeria’s economic potential will require more than rhetoric. It demands structural support that allows businesses to plan long term and access capital without prohibitive barriers.