Doing business in Nigeria is like committing suicide – Peter Obi

Presidential candidate of the Labour Party, LP, in the last general election, Mr Peter Obi has lamented the neglect of government in supporting commerce, industry and wealth creation, describing the idea of doing business in Nigeria as suicidal.

Obi further lamented that other companies in parts of Asia that were quoted along with Nigerian companies in the Stock markets are leaving in affluence, while their counterparts in Nigeria have either closed shops or are still grappling with the challenges of remaining afloat.

Obi disclosed this at the 40th Anniversary of Cutix Plc and Grand Reception organized by the company for its co- founder and immediate past Chairman of the company, Ambassador Obi Nwosu, who retired last Friday.

Mr. Obi who was a former Governor of Anambra State, noted that the problems of the country stems from having people who have not created wealth or employment at the helm of affairs of the nation.

According to Mr. Obi, “Unfortunately in Nigeria, it is difficult doing business, and embarking on the business activities in the country is like committing suicide, you will be frustrated in everything that aid business.

“When Cutix Plc was first quoted in the Nigerian Stock market other companies in the world like in parts of Asia were also quoted, but today those companies are living in affluence compared to those here in Nigeria.

“Unless the Federal government decides to do the right thing by supporting these companies, they cannot go far and they need support because they are those that create jobs, they are the ones that will turn around the economy and they need all the government supports.

As Governor of Anambra State, my administration and Cutix Plc constructed the road to the company, Cutix provided half of the cost of the project, while government provided half and the total sum was given to the company to construct the road.

“I also recall being instrumental to the appointment of Chief Odi Nwosu as an Ambassador to Republic of Burundi by former President Goodluck Jonathan, and at this point, I must congratulate him and the Founder of Cutix Plc. Engr Dr. Ajulu Uzodike for holding the company fort for 40 years.