By 
Dr. Muda Yusuf, Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), has raised serious concerns about the increasing regulatory challenges facing investors in Nigeria. He highlighted issues such as overbearing regulatory practices, disproportionate sanctions, excessive fines, intimidation, and heavy-handedness.
Yusuf pointed out the growing prevalence of multiple regulatory fees, duplicative responsibilities, and inadequate stakeholder engagement as key issues. “There are also concerns about regulatory repression and the lack of coordination among agencies,” he said.
He urged regulatory bodies to exercise greater discretion in their operations, aligning with the current administration’s goal of creating a supportive environment for investment. This includes boosting domestic production, reducing reliance on imports, conserving foreign exchange, and enhancing investor confidence.
Yusuf stressed that while regulatory agencies must fulfill their core responsibilities—such as protecting consumers, ensuring fair competition, and maintaining standards—they should not stifle investment in the process. He warned that harsh regulatory measures and public statements could inadvertently harm local businesses, countering efforts to increase domestic production, attract investment, and expand exports.
“The context in which Nigerian businesses operate is fraught with challenges,” Yusuf noted. “Many companies are facing severe difficulties due to exchange rate fluctuations, high energy costs, inflation, and insecurity, among other issues. Adding regulatory burdens only exacerbates these problems.”
He emphasized that regulatory agencies should understand the severe economic pressures faced by businesses and avoid exacerbating these challenges. Instead, they should support investment growth and sustainability. “Regulatory agencies should view investors as partners in the country’s economic development, not merely as sources of revenue,” Yusuf concluded.
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