Royal C. Investment CEO Urges Strategic Federal Tax and Energy Reforms to Stimulate Nigerian Industrial Growth

Royal C. Investment MD Royal Asianya urges the Federal Government to fix electricity and review tax policies to boost Nigerian business and economic growth.

By: AXL Media

Published: Mar 20, 2026, 4:36 AM EDT

Source: The information in this article was sourced from Independent Newspapers

Transitioning from Apprenticeship to Market Leadership

The professional trajectory of High Chief Royal Ifechukwu Asianya serves as a blueprint for grassroots entrepreneurial development within the Nigerian automotive sector. Beginning his journey in 1993 as a trainee at the Nkwo Nnewi spare parts market, Asianya progressed through a traditional apprenticeship under Basil Obinna before launching independent importation ventures. His early success in the motorcycle parts trade was facilitated by the strategic financial backing of Chief Cletus Ibeto, who provided the necessary guarantees through Ibeto Community Bank. This foundational support allowed Asianya to pivot and expand his operations as market dynamics shifted over the following decades.

Evolution Toward Digital Commerce and Global Logistics

As the domestic market for motorcycle components faced volatility in the early 2000s, Royal C. Investment Company successfully diversified its portfolio into the importation of heavy duty vehicles and passenger buses. Asianya notes that the shift from analog to digital business models has fundamentally altered the competitive landscape, allowing Nigerian firms to project their services to a global audience. Currently positioned as a primary importer of used buses from Asia and the United States, the company leverages digital visibility to streamline international procurement and domestic distribution, highlighting the increasing importance of technological integration in modern Nigerian commerce.

Critical Call for Fiscal and Infrastructure Reform

Despite the perceived potential of the current economic environment, Asianya argues that the Federal Government under President Bola Ahmed Tinubu must prioritize specific structural reforms to ensure long term sustainability. He identifies the existing tax regime as a significant hurdle for investors and local manufacturers, advocating for a comprehensive policy review to encourage industrial production. Furthermore, the CEO emphasizes that the twin pillars of energy and transport infrastructure remain the most critical bottlenecks for business growth. Without a stabilized power grid and an improved national road network, the cost of doing business will continue to stifle domestic entrepreneurship.