There are myriads of problems facing the Nigerian entrepreneur. Attempting to mention them all will lead to an endless discussion. Among the various challenges facing Nigerian entrepreneurs, the following are obvious.
1. Security Issues - When there is no guarantee of security of lives and properties, it is difficult to run a successful venture.
2. Unstable Political System - The various crisis rocking the various governments at the three tier of government causes uncertainty and increases the risk associated with investments.
3. Energy Crisis - This need no further explanation. So many manufacturing firms have shut down due to their inability to compete with foreign products. The reason is not far fetched, it is expensive running a factory with generators. In organized societies, generators are used as back-up plants to avoid distruptions in production process whenever there is power failure. The reverse is the case in Nigeria. Generators are the main source of electricity for all and sundry. Constant electricity supply is still a fairy tale.
4. Poor Transportation System - The transportation system in Nigeria is quite poor. The roads are full of potholes, the railway system is not functioning anymore, the waterway is undeveloped while the air transport system is in crisis. It is therefore expensive moving both raw materials as well as finished products from one point to another.
There are several others, but I believe that if these ones are tackled first, the situation will greatly improve. The unfortunate thing is that most of these problems are not issues that can be tackled by the private sector. We simply need to get good leaders who are knowledgeable and are committed to the welfare of Nigeria into leadership positions at the various tiers of government. Starting from the local government level to the Federal.