Made-In-Nigeria Festival Harps on Improved Business Climate

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By Raheem  Akingbolu

In what looked like a practical move towards building a favoured destination for foreign

direct investments, organisers of the Made-In-Nigeria (MaIN) Festival are putting together activities to promote the ease of doing business in Nigeria on the front burner of discourse.

These and many other subjects would form the basis of a special: “Ease of Doing Business session” that will take place at the Made In Nigeria (MaIN) Summit – a component of MaIN Festival taking place this month in Lagos. Over 600 delegates are billed to attend the summit that would run from September 26-29.

The session, which seeks to promote the ease of doing business in Nigeria, would feature updates from various agencies and local, state and federal government functionaries, while providing a platform for the

private sector to share their experiences. A special investment desk and one-stop-shop will also be provided for intending investors to obtain information, documentation and advice on establishing or expanding their businesses in Nigeria.

Underscoring the need to promote and sustain initiatives that would ensure the ease of doing business in Nigeria, MaIN Group – organisers of MaIN Festival – in a statement, revealed: “Economic development, growth and prosperity can only occur where there is an environment that supports both foreign and domestic investment.”

These investments, it added: “are expected to occur in a hyper-competitive global economic environment where countries and their citizens compete for limited resources available to investors.

Naturally, investors will most likely gravitate towards those economies that offer them the best value for money and economies that are backed by well-researched legislation, policies as well as strong and transparent institutions.

According to a statement issued by the organisers, “The policies that make it easy for people to transact their legitimate business without hassle or political interference are perhaps the greatest indicator that a country is ready and open to growing its economy.”

Nigeria, the MaIN Group noted, currently ranks 169 in the index of doing business in the world, with Rwanda taking the top berth in Africa. The group commended the current administration for taking concrete steps to address the issue.

With the theme: “Innovate. Connect. Power The Future”, MaIN Festival, is an international festival of ideas, designed to stimulate the economy and

bring the world to Nigeria to explore and engage the best it has to offer – in five key sectors of the economy.