The Managing Partner, Baileycole Consulting, Mr Ola Tubi, has urged the Federal Government to create a business-friendly environment for rapid economic transformation.

Speaking on Saturday in Lagos, Tubi said that Nigeria lacked viable economic structures.

He also observed that the country was endowed with enormous potential and creative ideas but the process of executing business was cumbersome.

He also noted that there is too much administrative bottlenecks adding that protocols in government hindered business operations in the country.

According to him, for a nation to remain economically viable, its processes of running business must be simplified. “Too much of protocols and administrative bottleneck hinder growth of businesses.

“Government needs to set up good policies and say this is the position I want everybody to follow.

“The policy must be simplified as much as possible and backed by law.

It is easy for people to get things done in compliance with laid down rules.” Tubi noted that the government was not doing enough in terms of business encouragement.

He urged government to be proactive in the process of economic transformation by reviving ailing infrastructure.

“To achieve a sustainable economy the critical sectors such as power and transportation, among others, must be functional,” he said.