Co-founder of payment firm, Flutterwave, Iyinoluwa Aboyeji, has stated that Nigeria is more business friendly when compared to most African markets.
But Ripples Nigeria findings show that the country is missing among top Sub-Saharan countries in this regard.
Citing a yet to be published report, the co-founder of Future Africa said he reached this conclusion following a study on the African startup investment landscape.
In a statement made available on his official Twitter account on Sunday, Aboyeji said the report contradicts popular opinion of Nigeria being hash to entrepreneurs.
In his words, the serial investor said, “I’m going to get ratioed for this, but just did a study on the African startup investment landscape and you know the surprising thing?
“Nigeria is actually more free market and entrepreneur friendly than most other African countries.” Aboyeji said.
He, however, stated that the more friendly business environment in the country is not linked to any administration, “Despite that it can and should get better and I don’t think this is because of any specific administration. Nigerians are just natural black Republicans.”
Political instability, inconsistent policies, and government clampdown have always been factored as major setback for the growth of Nigeria’s business environment.
However, findings by Aboyeji showed that Political risk is worse in other countries, the tech enthusiast said in response to a comment questioning his study.
Aboyeji buttressed his point by citing how a President’s child can takeover a business without any implication or fight back, “At least here they have to provide some excuse and there will be noise.”
“In some countries the President’s son can just take your business and nothing will happen. In most countries you can’t even start without being politically connected.”