The notion of viewing Nigeria through the lens of a Public Limited Company (PLC) was introduced by a respected senior mentor during a session with myself and my business partners. Inspired by our collective experiences in leadership roles across various sectors and geographies, we decided to establish a leadership training business in Nigeria. With a blend of local and international expertise, we aimed to contribute to shaping effective leadership practices in both the public and private spheres of the country.
During one of our mentorship sessions, our focus turned to change leadership, prompting a profound discussion on the dynamics of leadership in Nigeria. Our mentor posed a thought-provoking question: “If Nigeria were a PLC today, would you invest in it?”
This question has lingered in my mind since, prompting me to explore it further during a recent television appearance. It’s a question that warrants a sober analysis, detached from emotional biases. While investing in Nigeria as a country involves multifaceted considerations, treating it as a PLC allows for a structured evaluation.
If Nigeria were a PLC grappling with economic and security challenges, potential investors would meticulously scrutinize various factors before making an investment decision. Chief among these considerations would be the quality of leadership and governance. Effective leadership is indispensable in addressing the country’s crises and instilling confidence among citizens and investors.
A competent and forward-thinking leadership would be capable of implementing strategic measures to address economic downturns and security threats. This may entail reforms to enhance fiscal discipline, expedite judicial processes while ensuring fairness, attract foreign investment, diversify the economy, and bolster security infrastructure and policies. Transparent governance, clear communication of policies, prudent resource management, and anti-corruption efforts are imperative for building investor trust.
Conversely, ineffective, corrupt, or directionless leadership would deter investors, exacerbating economic and security challenges. Therefore, evaluating Nigeria as a potential investment necessitates an assessment of both its current predicaments and the leadership’s capacity to navigate through them adeptly.
In conclusion, the viability of investing in Nigeria hinges not only on the severity of its challenges but also on the caliber of its leadership. Effective leadership that inspires confidence, implements requisite reforms, and prioritizes the welfare of its populace can transform Nigeria into an attractive investment destination, even amidst adversity. If Nigeria were a PLC, such leadership would undoubtedly enhance its appeal to investors, signaling stability, growth potential, and a commitment to excellence.
NB: Johnson Babalola is a Canada based lawyer, author, storyteller and leadership consultant.
