Hostile business environment impeding us from setting up factories, US-based Nigerian industrialist

A US-based Nigerian industrialist, Emeka Chinaka, has said that a hostile business environment in Nigeria is an impediment to most interested investors who want to set up factories. He noted that an enabling business environment is essential to enable investors set up factories that would generate employment for teeming youths.

Speaking at a press conference in Lagos recently, Chinaka, the CEO of Princi Wines Nigeria, said his company which currently imports Princi Pinal, Princi Cabernet Sauvignon and Princi Merlot Wines from Bordeaux, France, expressed sadness that a hostile environment has impeded him from setting up a similar factory in Nigeria. He implored the government to address those challenges which are driving investors out of the country like insecurity.

“We import these wines from France, but it would be better for us and the government if set up similar factories here. We are in Partnership with Ginestet in France, and in the nearest future we shall bring home the technical know-how home, by so doing, we are creating jobs and adding to GDP, but the government must create that atmosphere for businesses to thrive, for now, we are in Abuja, Lagos, Imo and Port Harcourt,” he said.

Chianka revealed that many Nigerians in the Diaspora are not coming home to Invest and do business because the cost of doing business in most countries even within African countries are cheaper than cost of doing business in Nigeria.

He added that he deploy his wealth of knowledge especially in the pharmaceutical sub-sector to impart towards the health of Nigerians

‘I run a pharmaceutical company in United States, but shall replicate same here, because the number of pharmaceutical companies in Nigeria is insufficient,’ he assured.

(Daily Sun)