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WHY ARE BUSINESSES FAILING IN NIGERIA? A LOOK AT ARIK AIR AND ETISALAT



The sole reason why businesses fail in Nigeria is lack of leadership. Business leaders in Nigeria are sometimes incompetent, not tested and therefore not trusted.
Many people rise to positions in the business world not because of merit and hard work but because of connections. There is  the problem of lack of integrity where board members share the company's profit amongst themselves instead of channeling it to further grow the business. There is also another problem of taking huge loans from banks without a well thought out process of how to pay back or even completely mismanaging the funds.
Arik air is owing large sums of money and so is Etisalat...
A lot of employees depend on these businesses for their livelihood. Why don't they think of the impact on the economy before allowing greed and selfishness take over. This is really disheartening.

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