Which do you think is sweeter, Ghana or Naija jollof? A question you must have come across on social media at least once in your life. Nigeria and Ghana are like siblings who share a healthy rivalry on almost everything ranging from food to even music and usually if there is a social media poll, one always expects Nigeria to win because we have the numbers and we never allow disrespect or shade from without.
However, yesterday Nigerians were shocked that the founder of Twitter, Jack Dorsey announced that he was setting up his african twitter headquarters in Ghana. This amazed some who could not fathom the logic behind the decision, especially because Nigeria has a thriving tech industry that has gained international recognition. So why not Nigeria which has more people with access to internet and more presence on twitter?
Some have opined that it might just be a thing of choice and nothing more. Few have said Nigeria lost a rare opportunity to house the tech giants due to the unpredictability of the country’s security situation. While others feel the country failed to properly woo twitter to Nigeria and should have done more.
As reactions continue to trickle in, one cannot help but notice that the most common complain and reason as to why some feel twitter chose Ghana over Nigeria is mainly because of what they called “a volatile business atmosphere and the constant policy shapeshifting that often makes it more difficult for business growth”.
As we speak, there are those who feel the tech industry currently carries a target on its back, thanks to the media’s constant reference to it as “the new crude”. This perception is strongly held by those who have been affected adversely by the ban on cryptocurrencies in banks and the very recent central bank ban on the use of Bank Verification Number (BVN) validation by fintechs and thrid-party partners in the country, a move widely regarded as a major set back for the said industry.
Despite these very loud and unpleasant complaints, the federal government in February claimed it has been taking deliberate steps in improving the ease of doing business in the country through various strategic reforms that would boost rapid economic recovery. This is as the minister of finance, Zainab Ahmed said the finance act of 2020 has provided the impetus and the much needed business friendly environment for the MSMEs by mitigating double taxation risk, limiting the deductible interests paid by Nigerian companies on loans from foreign lenders.
She also claimed providing tax-free period for the agricultural sector incorporates thin capitalization and exempting small companies from CIT and VAT is a step in the right direction.
In all fairness to the minister of finance, the World Bank report on ease of doing business 2020, saw Nigeria’s ranking jump from 146 to 131, representing its second-highest annual progress of 11.45% in a decade. If this is true and if indeed the finance act of 2020 has worked miracles, I mean since the stats show we are becoming a better business habitat, then why then did Jack of Twitter pick Ghana over Nigeria? The truth is only Jack can answer that question.
While some Nigerians are still livid about twitter’s decision to find its home in Ghana, one thing is clear. It will be harder to score points against our Ghanaian friends in the jollof wars of the future.