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By Vera Anyagafu & Prisca Sam-Duru

FOREIGN companies operating in Nigeria, yesterday, tasked the federal government to improve the business environment, stressing that business cannot thrive in a hostile environment.

The Austrian, German and Switzerland (AGS) Business Outlook for 2017, described the business environment in the country as negative noting, however, that they are optimistic the situation will improve by 2018.

The AGS survey was conducted by WFO Rodl and Partner Advisor Limited while the report was presented at the AGS 2017 Business Outlook in Lagos by Olanrewaju Yusuf, Associate Director, Advisory Services, WFO Rodl & Partner Advisor Limited. The report also noted that, poor electricity supply is the major challenge undermining the businesses in Nigeria while foreign exchange, security, corruption, oil price and transportation remain additional challenges to doing business.

Consul General of Switzerland in Lagos, Yves Nicolet, said the challenges Swiss companies faced in Nigeria were similar to those faced by Austria and German companies. He said, “It is really important to know how Swiss see the future of economy in Nigeria and through this survey we received a lot of information which can help us try to improve our businesses and also counsel new companies that would like to penetrate the Nigerian market.

I’m very happy that Swiss companies participated in this survey. Switzerland has over 45 companies in Nigeria and most of them registered in Lagos, in many sectors. I thank Swiss companies who informed us about their conditions in their host country and their efforts in trying to improve Nigeria and Swiss relationship in the economic sector. We are also helping Nigerians who are trying to establish companies in my country.”

Also, Consul General of the Federal Republic of Germany, Lagos, Mr. Ingo Herbert stated that despite the challenges the companies are cautiously optimistic about the future of Nigeria’s economy through mid-2018.

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