by Sodiq Oyeleke
The Project Leader, Business Chain Hubs, Dr. Sam Egwu, has said that building positive relationship will aid the growth of businesses in the country.
He said this while speaking on the theme, ‘Building business chains for a better Nigeria – a practical opportunity to invest and market your opportunity nationwide,’ at a forum organised by the Institute of Directors in Lagos.
According to Egwu, importance must be placed on market development through business expansion.
He said, “The development of business chain is the only way out for businesses to grow. Nigerians must learn how to do business and tap potential that will build the economy.”
He wondered why many stakeholders had failed to initiate new ideas into the financial market, adding that this was the reason the Nigeria market was dominated by foreign investors
“The Nigerian market is ripe for competition but there is little opportunity for banks to raise money. So, businesses have to develop chain to enhance its expansion and growth since there is little opportunity for raising fund,” he said.
The President of the IoD, Mr. Thomas Awagu, represented by the first Vice-President of the group, Mrs. Eniola Fadayomi, said most investors failed because they lacked adequate knowledge about investment in the country.
He said, “It is common knowledge that one of the greatest challenges facing investors and entrepreneurs today is inadequate access to information on investment decisions. There may be dozens of strategies to choose from, but you need relevant data to guide you.”
He noted that investors’ decision played a great role in the development of businesses in the country.
Awagu said, “The Nigerian market, based on its size and current reform effort of the government, is ripe for modern, ethical and competitive business chains needed to systematically transform every sector of the Nigerian economy. The outcome of your decision could lead to putting your investment and business on the fast track to growth and expansion or the other way round.”
Source: The Punch Newspaper
Written by NEWSTRAWL ONLINE UPDATE
Sodiq Oyeleke is a Media, Human Resources, Project Management and Public Relations Practitioner
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