Updated: Aug 17, 2020
Every business is born either to make a profit or impact as a profit-making entity or social enterprise in Nigeria following the orders of the business regulatory agency in Nigeria known as the Corporate Affairs Commission of Nigeria.
Recently, the federal government of Nigeria has made it feasible for business registration to be done seamlessly by the incorporating of online means to the business registration process which can be done from the comfort of anyone’s office or home and so, the ease of doing business in Nigeria has improved in the last few years. The paper trail for business registration is drastically fading away with time all thanks to the adoption of technology in the ease of doing business in Nigeria.
The recent review of the Companies and Allied Matters Act for business registration in Nigeria has provided a window of opportunity for the average citizen to be able to register a business without the input of a legal person may seem like a long shot at the legal profession pushing legal practitioners to innovate to remain relevant in their acts.
It is no news to Nigerian businesses that one government policy can mar or propagate a business’s lifespan as a result of several inconsistent government policies to abrupt decisions to end a venture. The average Nigerian business person has grown a thick skin to be able to survive the unpredictable nature of business survival in Nigeria’s terrain.
Over time, businesses have learned to either play in the favor of the government to win favors when policies are been made or get wind of the policies before it is made so the said organization can plan accordingly their operational strategies to scale effectively.
It isn’t out of place to say business and government in Nigeria are inseparable mechanisms for the Nigerian economy to grow.