Report: Nigeria Environment Unsupportive For Business Operations
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Sixty-nine per cent of manufacturing companies in Nigeria are of the view that the Nigerian business environment is unsupportive of their operations, a study conducted by the NOI Polls, in collaboration with the Centre for the Study of Economies of Africa, has revealed.
The report for the manufacturing sector, which was unveiled on Tuesday in Abuja, stated that 78 per cent of sampled companies explained that the disparity between the official and parallel market foreign exchange rates was negatively affecting their operations.
In arriving at the figures, the report said a total of 205 manufacturing companies were interviewed in all the geo-political zones.
It said, “Overall, 69 per cent of sampled firms do not find the business environment supportive, including 74 per cent of small companies, 63 per cent of medium companies and 71 per cent of large companies.
“The lack of supportive environment is reported by 100 per cent of companies in North-Central, 88 per cent in South-East, 80 per cent in North-West, 67 per cent in South-South, 65 per cent in North-East and 35 per cent in South-West.”
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