Business
Sokoto-based entrepreneur urges Nigerians to tap opportunities on innovative businesses
Mr Umar Idris, Founder and Chairman of the 21st Century Entrepreneurs Hub, on Sunday called on Nigerians to embrace innovative enterprises in order to facilitate robust economic growth in the country.
Idris, a Sokoto-based entrepreneur and member of panelists at the Innovation Support Network Hub’s Annual Gathering 2020, stressed the need for government at all levels to ease business registration hiccups.
He underscored the need for Nigerians to start thinking towards filling up all the empty cargos leaving the nation’s shores with Nigerian made products.
He said that relevant authorities should create sustainable solution to stimulate demands for homegrown solutions in the country.
“The Federal Government could look into the activities of its agencies in charge of business registrations such as Corporate Affairs Commission, National Agency for Food, Drugs Administration and Control.
“Standard Organisation of Nigeria, Export and Promotion Council, Federal Inland Revenue Service and others as a mapping process to capture start up at entry levels with emphasis on quality over quantity ” Idris said.
According to him. the agencies should facilitate soft registration fee, easy registration processes and a waiver of at least six months to one year tax, to enable businesses settle in the market.
“If successful, through the growth and maturity phases, then the Government should come for their taxes.’’ he said.
He expressed dissatisfaction with Nigeria’s listing on the 2020 World Bank’s ranking of countries ease of doing business, where Nigeria missed the 100 list in Africa.
The entrepreneur listed countries such as Rwanda ranked 38th, Kenya ranked 56th, South Africa, 84th, Zambia, 85th, Togo, 97th while Nigeria was ranked 131st.
He urged Nigerians to embrace innovative businesses and tap into opportunities and potentialities that would propel the economic growth of the country.
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