Nigerian forum seeks to stem businesses leaving Rivers State
By the AFREEQUE newsroom, based on Businessday
The Rivers Entrepreneurs and Investors Forum was created to stem the departure of businesses from Nigeria’s Rivers State, which are facing tax pressure and administrative harassment in particular. Its president Ibifiri E.C. Bobmanuel said several companies were then considering moving their operations to Lagos, according to Businessday.
The Rivers Entrepreneurs and Investors Forum (REIF), an organisation bringing together entrepreneurs and investors from Nigeria’s Rivers State, wants to prevent businesses from leaving the southern Nigerian region. Its president, Ibifiri E.C. Bobmanuel, told Businessday that several companies were considering closing their operations or transferring them to Lagos because of rising taxes and administrative pressure.
According to Mr Bobmanuel, one company had already secured a site in Lagos to relocate its operations within three months. He also cited the case of a major dredging company based in Port Harcourt whose leader had made the same decision despite having lived there all his life. The REIF wants to create an environment favourable to investors by keeping these companies in Rivers State, while public bodies responsible for supporting the sector have been accused of prioritising a transactional approach, according to Businessday.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
