Energy costs, FX volatility impeding business expansion in Nigeria, says Femi OkenlaEnergy costs, FX volatility impeding business expansion in Nigeria, says Femi Okenla
Femi Okenla, the owner of Ibis Hotels franchises in Lagos, says rising energy costs, foreign exchange (FX) volatility, and structural challenges in Nigeria’s business environment are slowing investment expansion.
Speaking on The Builders, a podcast hosted by Kemi Adeosun, Okenla said he had initially planned to build 10 hotels within a decade but has completed only two after more than 10 years due to operational constraints.
The cable
