Businesses do not exist in vacuums and before taking a leap into the world of entrepreneurship, there is a need for a socially, ethically, and politically stable environment. However, in Nigeria, it is quite the opposite and political instability seems to be a long-standing problem.
Over the years, assessments have highlighted the impacts of various regional conflicts on the business climate in the country and a report from Washington-based non-profit organisations, ONE Campaign and Center for Global Development, show that Nigeria’s tech sector is even more affected by this set of problems.
From the survey carried out by the two organisations, Nigerian tech businesses are constrained by a number of factors. The major ones include a reliable source of electricity, access to finance, corruption, and political instability. Though minor, labour regulations, taxes, courts, and tax administration are the other constraints cited.
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