{"id":15361,"date":"2017-07-11T12:08:26","date_gmt":"2017-07-11T11:08:26","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=15361"},"modified":"2017-07-11T12:08:26","modified_gmt":"2017-07-11T11:08:26","slug":"fix-bureaucracy-make-nigeria-business-ready-elumelu-charges-federal-govt","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/fix-bureaucracy-make-nigeria-business-ready-elumelu-charges-federal-govt\/","title":{"rendered":"Fix Bureaucracy to Make Nigeria Business Ready, Elumelu Charges Federal Govt"},"content":{"rendered":"<p>Chairman, Heirs Holdings, Tony Elumelu has charged the public sector to urgently fix bureaucracy and the process of doing business in Nigeria to promote, attract and retain willing investment partners in the country.<\/p>\n<p>He made this call Monday while discussing the topic \u201cNigeria Open for Business\u201d at the 2017 National Insurance Conference organised by the Insurance Industry Consultative Council (IICC), which held at Transcorp Hilton, Abuja.<\/p>\n<p>In his speech, Elumelu commended the Buhari-Osinbajo administration for their efforts so far in stabilising the Nigerian economy, but noted that much more still needs to be done to transform Nigeria into a country capable of attracting the right investments.<\/p>\n<p>He stated that bureaucracy is a major challenge that needs to be tackled with a sense of urgency to curb excessive losses. Citing a personal example, he mentioned that the delays in the public sector led to a negative return on investment that forced his proprietary investment company, Heirs Holdings, to suspend the pursuit of its insurance license despite meeting the eligibility requirement and capitalisation benchmark.<\/p>\n<p>\u201cThis bureaucracy is a cause for concern and if not tackled, will discourage otherwise willing investors from within and outside the country,\u201d he said. \u201cHeirs Insurance Limited is an example where despite focused attempts to finalise a licence, the delay in processing has cost our company significantly in terms of resources and return on investment.\u201d<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>Elumelu proposed that Nigeria\u2019s transformation can only be achieved when the government and private sector work together in \u201cshared Purpose,\u201d to create the economic and social wealth for the people. He defined shared purpose as an alignment and commitment to 3Es &#8211; employment, empowerment and economic opportunity, where the government partners with the private sector to, not only design a business climate that creates job opportunities for the youths as in the case of the Tony Elumelu Foundation, but prioritises small and medium businesses.<\/p>\n<p>In response to the speech, the representative of the Deputy Governor of the Central Bank of Nigeria (CBN), Dr. Okwu Joseph Nnanna, commended Elumelu on the points raised, stating that the sector will proactively address the issues raise.<\/p>\n<p>Elumelu ended his speech by calling on the government to define policies that ease the process of doing business in Nigeria. \u201cPredictability and consistency of policies must be embraced by our policy makers. We need the public sector to be willing partners in establishing the right, investment-worthy business environment we need in Nigeria. This is the only way Nigeria can be truly open for business,\u201d he concluded.<\/p>\n<p>Other guests present at the event included the Commissioner for Insurance, National Insurance Commission (NAICOM), Alhaji Mohammed Kari, and Dr. Okechukwu Enelamah, Minister of Industry, Trade and Investment (MITI).<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Chairman, Heirs Holdings, Tony Elumelu has charged the public sector to urgently fix bureaucracy and the process of doing business in Nigeria to promote, attract and retain willing investment partners in the country. He made this call Monday while discussing the topic \u201cNigeria Open for Business\u201d at the 2017 National Insurance Conference organised by the &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":11,"featured_media":12952,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[908],"coauthors":[2392,2393],"class_list":["post-15361","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-elumelu"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fix Bureaucracy to Make Nigeria Business Ready, Elumelu Charges Federal Govt - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/fix-bureaucracy-make-nigeria-business-ready-elumelu-charges-federal-govt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fix Bureaucracy to Make Nigeria Business Ready, Elumelu Charges Federal Govt - National Wire\" \/>\n<meta property=\"og:description\" content=\"Chairman, Heirs Holdings, Tony Elumelu has charged the public sector to urgently fix bureaucracy and the process of doing business in Nigeria to promote, attract and retain willing investment partners in the country. He made this call Monday while discussing the topic \u201cNigeria Open for Business\u201d at the 2017 National Insurance Conference organised by the &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/fix-bureaucracy-make-nigeria-business-ready-elumelu-charges-federal-govt\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-11T11:08:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/05\/Official-Picture-of-Chairman-of-UBA-Plc.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"1440\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dayo Emmanuel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/fix-bureaucracy-make-nigeria-business-ready-elumelu-charges-federal-govt\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/05\/Official-Picture-of-Chairman-of-UBA-Plc.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2017\/05\/Official-Picture-of-Chairman-of-UBA-Plc.jpg\",\"width\":960,\"height\":1440},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/fix-bureaucracy-make-nigeria-business-ready-elumelu-charges-federal-govt\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/fix-bureaucracy-make-nigeria-business-ready-elumelu-charges-federal-govt\/\",\"name\":\"Fix Bureaucracy to Make Nigeria Business Ready, Elumelu Charges Federal Govt - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/fix-bureaucracy-make-nigeria-business-ready-elumelu-charges-federal-govt\/#primaryimage\"},\"datePublished\":\"2017-07-11T11:08:26+00:00\",\"dateModified\":\"2017-07-11T11:08:26+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/fix-bureaucracy-make-nigeria-business-ready-elumelu-charges-federal-govt\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/fix-bureaucracy-make-nigeria-business-ready-elumelu-charges-federal-govt\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/fix-bureaucracy-make-nigeria-business-ready-elumelu-charges-federal-govt\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Fix Bureaucracy to Make Nigeria Business Ready, Elumelu Charges Federal Govt\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\",\"name\":\"Dayo Emmanuel\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/dayo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Fix Bureaucracy to Make Nigeria Business Ready, Elumelu Charges Federal Govt - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/fix-bureaucracy-make-nigeria-business-ready-elumelu-charges-federal-govt\/","og_locale":"en_US","og_type":"article","og_title":"Fix Bureaucracy to Make Nigeria Business Ready, Elumelu Charges Federal Govt - National Wire","og_description":"Chairman, Heirs Holdings, Tony Elumelu has charged the public sector to urgently fix bureaucracy and the process of doing business in Nigeria to promote, attract and retain willing investment partners in the country. 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