Recently I read a piece about the way business is done in Nigeria and the damning statistic that only 1 in every 10 businesses in Nigeria stays financially viable after the first 3 years in business. Well, that’s true and a couple of reasons were listed as factors that contributes to this outcome, some of these factors includes: Power generation, Security, Lack of access to funds, Lack of local patronage, Lack of skilled labor, Multiple taxation and lots more. While I am not denying these factors, I have come to realize that there is also a trait that seems to play a prominent role in the business polity in Nigeria and this trait is “Destroy the competition syndrome”.
In Nigeria just as it is in most African countries, one of the major constraints to effectively kicking off a startup company is “funding”. Trust me, I am one of those who believe in “starting small and growing from there” but I also believe that though it worked for some, for some others, sourcing for finance is a factor that determines the “sinking or floating” of the proposed company. So roughly looking at the cost of setting up a business in Nigeria (Lagos to be specific)
A lot of us have been faced with the dilemma of what to do next when one of our ever faithful and loyal friends (our personal computers/Laptop) suddenly and without notice decides to “bit the dust” or a freak accident such as a drop, spill of water or fire results in its damage. I know that some of us cry, and possibly say “why didn’t I hold the computer more firmly”
We live in a world driven and powered by intellect and technology, a world where we see nations rise and fall as a result of its embrace or neglect of Information Technology… i would be the last to say the future of ICT in Nigeria is all rosy and bright… but like every other things in life, we expect challenges and road blocks especially when the government of the day pays lip service to the growth of ICT in Africa, a nation where the growth of Information Technology is powered by young and industrious youths…