foreword
I have seen many people find it difficult to move their ideas to reality because they seem lost on how to go about them. I have also seen a lot of entrepreneurs struggle with how to manage their businesses as they lack the information and capacity to manage their businesses with the resultant effect being that over 80% ofbusinesses fail to live up to 5 years. In the same vein, many persons including foreign investors have lost money using middlemen to get the licenses, certifications, and data needed for their business. All these plus the prevalent challenges Of doing business in Nigeria have contributed to lots of people being frustrated with the system. In my career, entrepreneurship journey, and as a consultant, I have also encountered lots of these setbacks and was forced to grind it out the hard way in order to become successful but I accept the fact that if there is a resource that can help people to navigate professionally, they stand a higher chance of succeeding and the economy would be much better for it. Now I am happy because there is a resource that will guide businesses in Nigeria and foreign investors who are interested in investing in Nigeria on how to be on the right path; there is a resource that covers
- building the rightentrepreneurial mindset,
- step by step approach to legalizing your business in Nigeria,
- understanding the Nigerian tax system,
- valuation of businesses,
- how to write your business plan,
- diagnostic tools for business owners and consultants,
- standardization of processes for improved productivity,
- practical steps ofbuilding to scale ofbusinesses,
- Importance, roles of HR and how to set up an HR Department in your Organization
- What Nigerian businesses and government need to do to posi tion themselves and take advantage of AfCFTA,
- DO it-yourself approach to regulatory compliance where
the procedures and requirements to register With the
following agencies were comp rehensively given
- NAFDAC
- SPECIAL CONTROL UNIT AGAINST LAUNDERING(SCUML)
- NATIONAL PENSION COMMISSION INDUSTRIAL TRAININGFUND MONEY
- THE NIGERIA SOCIAL INSURANCE TRUST FUND (NSITF)
- NIGERIAN EXPORT PROMOTION COUNCIL (NEPC)
- NIGERIAN INVESTMENT PROMOTION COUNCIL (NIPC)
- STANDARDS ORGANIZATION OF NIGERIA (MANCAP, NIS SONCAP)
- NIGERIAN COPYRIGHT COMMISSION TRADEMARK, PATENTS, AND DESIGNS.
- NIGERIA COMMUNICATIONS COMMISSION (NCC)
- PHARMACISTS COUNCIL OF NIGERIA
- NATIONAL INFORMATION TECHNOLOGY DEVELOPMENT AGENCY (NITDA)
- NIGERIAN MIDSTREAM AND DOWNSTREAM PETROLEUM REGULATORY AUTHORITY (NPRA).
- NIGERIAN UPSTREAM REGULATORY COMMISSION, NURC
This book is not just a theory but realistic synopsis of doing business in Nigeria and succeeding, hence I recommend thatyou read it for the guidance, and tools needed to help you smartly Start, grow, and scale your business in Nigeria.
Ibrahim Hussaini Doko
DG/CEO Raw Materials Research and Development Council
(RMRDC)
testimonial
The book, "START, GROW AND SCALE YOUR BUSINESS IN NIGERIA", is an excellent resource for anyone seeking to invest in the Nigerian business ecosystem, or desirous to learn more about how to thrive within it. This book is highly recommended to start-ups, small and middle-scale enterprises as well as unicorn industries seeking to expand their operations. The information contained within these pages will be of tremendous value to the reader, as a guide to their success journey. This book is a must-read, especially for entrepreneurs.
OTUNBA FRANCIS MESHIOYE
President, Manufacturers Association of Nigeria.
ACKNOWLEDGEMENT
This book wouldn't have been possible without the inspiration from God and to Him I give all the glory. I also wish to acknowledge the motivations and continuous encouragement from my Mum late Lady Gladys Ozurumba of blessed memory who stopped at nothing to ensure I always strive to be the best, Tabitha Erdoo Hemba the COO of the Manufacturers Resource center for her commitment to the project, my family, friends and associates for their immense contributions. I appreciate the Manufacturers Association of Nigeria (MAN) being the voice of all Nigerian Manufacturers, the Nigeria Export Promotion (NEPC) and SMEDAN and the Raw Materials Research and Development Council (RMRDC) for all they do to see to it that the Nigerian Manufacturing Sector is always improving and for agreeing to partner with me to pu blish this book. This book is not to be sold to ensure that it gets to many business owners in order to achieve the desired results. To make this possible, sponsorship from organizations such as the Bank of Industry, (BOI), Raw Materials Research and Development Council (RM RDC) etc. are highly appreciated. Experiences garnered from many of my clients directly contributed to the publishing Of this book and for that I remain grateful. Finally, thank you Divine Works Artron for your professionalism and dedication to the printing of this book.