Mr. Jonathan Irafor (FIOG) is the chairman of Lakewood Development Company, a Facility Management company in Nigeria.
In this interview with Tobi Adetunji he spoke about the challenges and opportunities of entrepreneurship especially under the President Bola Tinubu led economy – Tinubunomics – looking at the cost and ease-of-doing business in Nigeria. Mr. Irafor also charged the government to do more in simulating the Economy.
Question: Can we meet you sir?
My name is Jonathan Irafor, from Edo State. I am the Chairman, of Lakewood Development Company, a leading Facility Management company in Nigeria.
We specialize in property development, facility management, industrial and commercial janitorial services among others numerous to mention. We are also certified by relevant international bodies and in Nigeria, making us a seasoned international professional of worth.
How many years have been in Business?
I have been in business for close to two decades, navigating Facility management, Property development to hospitality management among others.
What has been your greatest challenge doing Business in Nigeria?
My greatest challenge is the instability of government policies which affect government in a great measure.
How have you been able to navigate the “Tinubunomics” era among other challenges associated with Entrepreneurship?
As a company, we have seriously gone into 100% local content, this drive has helped to cut down costs. We have also had to downsize employees to reduce our overhead costs. The unstable government economic policies are a real deal.
Your advice to the government and upcoming entrepreneurs?
My advice for upcoming entrepreneurs is to be resilient, focused, and be contented in their drives towards their area of specialty.
The government should stabilize the economic policies, give incentives to companies that create employment opportunities, and build infrastructure that will help to improve commerce.
Furthermore, the government should create a long-term solution to security problems and Tax reform that can help to avoid Double accounting. The government should give a Tax moratorium to new Startup businesses.
