1-POOR FUNDING-A problem most young African entrepreneurs face is poor funding. There are young people with ideas but these ideas end up in the slumps where they are created because the government is not ready to render financial assistance.
2-EPILEPTIC POWER supply- Most businesses require electric power to function effectively. The reverse is the case in Nigeria. The poor electric power supply has led to the downfall and shutdown of most businesses.
3-CORRUPTION - Before a contract is awarded, some officials inflate the prices of goods to be purchased. Some organisations require the contractor to pay a fee before a contract is awarded to him or her. This contract might then be awarded to an incompetent company because of the greed built into most African men.
4- THEORY TAUGHT IN MOST AFRICAN SCHOOLS RATHER THAN PRACTICALS - in most Nigerian schools, practicals are not taken seriously. Students are only taught the theory aspect other than the practical aspect. Without practical knowledge, students would not be able to practice what they are taught effectively. The students would rather cram definitions to pass exams. This has led to backwardness in the Nigerian economy and Africa in general. You are free to add your own opinion in the comment section. Thank you
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