By Felix Khanoba
The Chairman of Santabella Group of Companies Limited, Lawal Oladipupo, has expressed serious concerns over barriers confronting aspiring entrepreneurs in Nigeria, saying there is a need for radical change in the nation’s business environment to boost the Small and Medium Enterprises (SMEs) sector.
In a statement shared with journalists on Thursday, Lawal said the poor ease of doing business in the country, hinders the growth of startups and young businesses rather than encouraging their development.
He also criticized established industry players for exploiting startups of their much-needed capital, making it extremely challenging for newcomers to succeed.
According to him, “Instead of fostering a supportive ecosystem, many existing players engage in practices that stifle competition and innovation.
“We are witnessing a concerning trend in Nigeria where startups and budding entrepreneurs are being suffocated rather than nurtured. This is detrimental not only to these small businesses but also to the Nigerian economy as a whole. We should be fostering an environment where innovation is encouraged, and new players are given a fair chance to thrive.”
Lawal made a fervent appeal to the federal government of Nigeria to step in and implement measures to level the playing field for all businesses, regardless of their size.
He stressed the need for policies that encourage fair competition, transparency, and the protection of startup businesses from predatory practices.
He continued, “The government has a pivotal role to play in shaping the future of our business landscape. It is time to create a more equitable environment where startups can flourish, and all players can contribute to the growth and development of our nation.
“Santabella Group of Companies Limited stands with their Chairman, Lawal Oladipupo, in advocating for a more inclusive, equitable, and supportive business environment in Nigeria.
“Together, we can empower entrepreneurs and startups to drive innovation, job creation, and economic growth in our great nation,” he said.
