President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele Oye, has called on the federal government to overhaul its approach to handling investors.
Highlighting issues faced by companies like Nestle Nigeria Plc and the National Sports Lottery Regulatory Commission (NSLRC), Oye emphasized the need for improved regulatory practices to attract and retain investments.
In a statement titled “Economic Management and the Presidential Dilemma: The Case of Nestle Nigeria Plc vs. NSLRC,” Oye critiqued recent governmental actions that have deterred investment. He pointed to the illegal raid on Nestle’s offices by the NLRC, which was deemed unconstitutional by a Federal High Court ruling.
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Despite this, the NLRC has sought to delay the judgment, raising further concerns about Nigeria’s investment climate.
Oye advocated for a stable, transparent regulatory environment, urging the government to implement policies that support business growth through simplified tax regimes and protection of investor rights.
He stressed that regulatory clarity and respect for judicial rulings are crucial for enhancing investor confidence and fostering a thriving SME sector in Nigeria.
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