Chidi Iwuchukwu, Head Investment Banking West Africa, Rand Merchant Bank has said that Nigeria needs a consistent policy and regulatory framework as well as inward investing in its business ecosystem.
He said this while speaking at the just conclude Doing Business in Nigeria Conference on Saturday, during a panel session.
Iwuchukwu emphasized the importance of understanding the nuances of Nigeria’s investment landscape before diving in. He highlighted the need for “inward investing,” stressing that patient capital is what the country requires. He advised investors, both local and foreign, to be patient as quick returns, especially within five years, might pose challenges due to the country’s economic cycles.
Speaking on inconsistent policy and regulations influenced by changing political systems in a place like Nigeria, he said.
Iwuchukwu stated evident that the challenges facing investors in Nigeria, particularly in terms of consistency of policies, security concerns, and economic volatility, require a strategic approach.
By recognizing and planning for the cyclical nature of economic and political events, investors can better navigate risks and optimize their operations. This includes strategies such as localizing supply chains, integrating backward, and managing costs more efficiently.
While uncertainties persist, proactive planning and a patient approach to investment can help mitigate surprises and pave the way for sustainable business growth in the face of Nigeria’s dynamic landscape.
