Crasvenit Horizon Legal Practice (CHLP), a multidisciplinary law firm, has empowered business owners with strategies to build a legal landscape for growth in Nigeria through its Law and Business Conference held in Lagos on June 11, 2024.
The Conference themed “The Nigerian Business Terrain: Structuring Businesses in a Fast-paced Economy,” spanned three sessions — Corporate Structuring, Tech, and Real Estate — providing strategies for navigating the legal complexities of business formation and growth in Nigeria.
“Corporate structuring entails adopting or creating appropriate legal structures and the related business systems that ensure stability and drive growth. However, in properly structuring a company, it is non-negotiable to have a strong management team backed by a diverse, functional board of directors,” a statement from the firm’s address said.
Partners of the firm; Folarin Oloyede and Oheji Iji with guest speakers and penelists which included Abiola Babatunde-Ojo, MD, Prudent Energy and Services Limited, Courage Obadagbonyi, CFO, APM Terminals, West Africa, Olusanjo Fawole, Partner, Ubosi Eleh & Co., Olumide Balogun, Director, Google West Africa, Dr Dede Lori, CEO, Doj Gaminz, Oladeinde Nelson-Cole, GM, Legal & Compliance, Ardrova Plc, and Oladotun Oloyede, MD, Rolad Properties and Allied Services Ltd. did justice to the theme.
Abiola Babatunde-Ojo, managing director of Prudent Energy and Services Limited while making her presentation emphasised that the key challenges businesses face in the Nigerian Business Terrian are regulatory challenges, economic instability, infrastructure deficits, and corruption.
“Despite all the challenges, opportunities still abound in Nigeria because Nigeria is a large and growing consumer market. Innovation and increasing adoption of technology, continuous consumer spending on goods and services, increased demands for FMCG, natural resources, and being a strategic location are key opportunities businesses have in Nigeria,” she added.
“Proper structuring attracts investments and transparency in businesses. Establishing effective governance is crucial even for small businesses because every business no matter the size benefits from good governance,” Babatunde-Ojo added.
As a business start-up in a rapidly changing business environment, it is important to understand your market and get involved in market research to achieve success, Courage Obadagbonyi, Chief Financial Officer of APM Terminals West Africa said.
“Most businesses need to understand the purpose of their business and spend more time on resources to help them understand the diverse market trends. Leveraging social media platforms is also an important tool needed to succeed in a fast-paced economy. It helps to connect with larger audiences,” he said.
According to Olumide Balogun, Director of Google West Africa, businesses can structure for benefit by understanding how to not only satisfy their customers but also delight them. Dr Dede Lori discussed the funding opportunities available for the gaming industry in Nigeria.
Olusanjo Fawole made a case for players in the real estate industry and the cogent need for the government to enable the industry more while Oladotun Oloyede bore his mind on the hindrances to reducing the housing deficit in Nigeria.
CHLP is thought leader in the legal industry in Nigeria helping businesses grow from ideation to scaling and profitability.
