Former Anambra State Governor and Labour Party presidential candidate, Peter Obi, has said that globally celebrated entrepreneurs such as Steve Jobs and Bill Gates might not have attained their current level of success if they had operated within Nigeria’s business environment.
Obi made the remark while speaking at a public event, where he reflected on the challenges facing entrepreneurs in the country.
According to him, access to finance remains a major obstacle for Nigerian business owners. He recounted how he once walked into a bank in the United Kingdom and secured a loan largely on the strength of what he described as his intellectual capital.
“In Nigeria, they will ask you to bring collateral. They will ask for your father’s land and your mother’s land,” he said humorously while addressing the audience.
The former governor also disclosed that when one of his businesses recorded an annual turnover exceeding £5 million in the UK, he received letters of appreciation from both the British Prime Minister and the Queen, thanking him for contributing to the economy and creating jobs.
Drawing a comparison with Nigeria, Obi said he has never received a similar letter of recognition despite his business contributions, arguing that the country’s system does not sufficiently encourage or support entrepreneurship.
He maintained that Nigeria needs a more enabling environment for businesses to thrive, adding that many talented individuals are being held back by structural challenges within the country’s economic system.
