As the lockdown is being relaxed in Lagos, Abuja, and Ogun, experts have charged business owners and policymakers to stay ahead on their operations while being up to speed on trending developments during the coronavirus pandemic.
Experts, who gathered at an online webinar meeting organised by the Franco-Nigerian Chamber of Commerce and Industry (FNCCI), titled, “Staying ahead in a pandemic,” urged businesses to fine-tune their policies in relation to the pandemic guidelines while including safety procedures.
Director, Advisory, KPMG, Mrs Dolapo Adeosun, said business owners need to show concern and compassion to their staff in this period. As humans are the key resources to organisations, there is a need to check up on them and see how well they are faring with the pandemic.
Adeosun noted that competition as a strategy is critical for growth at this time, but innovation by start-ups on value chains are areas of new opportunities.
She said small and medium enterprises should come together and leverage collaboration as a strategy as there are a lot of options entrepreneurs can tap into at this period.
Country Director, International Finance Corporation (IFC), Eme Essien Lore, said 2020 will be a challenging year for businesses across the globe, as they would need to prepare for worst-case scenarios.
According to her, there are opportunities in crisis especially in some sectors like the telecommunication industry, as it affects the lives of the unbanked at this time.
She said Nigeria has a vibrant ecosystem, which has an impact on the private sector and expressed the hope that the authorities would allow private players to come in with their experience in problem-solving and grant them space to operate.
