13/05/2024
A Lagos based business man who deals in the importation of household products into Nigeria, such as LP gas cylinders has appealed to The Federal Government to put an enabling policy in place, that will help the cottage industry to thrive amidst fierce competition faced in the hands of foreign investors, especially The Chinese.
Dr. Chief Monday Syracuse Akunna who is the Chief Executive Officer of Sibeaku International Limited made this appeal recently during a media chat with members of the fourth estate of the realm.
The internationally acclaimed business man who decried the inadequate support received from The Government said that lack of a conducive business environment has been the bane of the cottage industry’s survival in Nigeria. He particularly frowned at the undue advantage The Chinese Investors have over Nigerian business owners as the former have access to loans from their their home country at little or no interest.
According to the Sibeaku CEO, The Chinese come in their drove to Nigeria as manufacturers but covertly build warehouses instead, for the goods they import from their home country with minimal charges attached. ‘This is in contrast with The Nigerian business owners who get loans at say 28 percent from the government, as such we can’t compete with them’, he said.
Chief Akunna who is also known as Ukwaachinaka of Ihitenansa- a dealer in copper wire, rewinding equipment, refrigerants and LP gas cylinders to mention but a few averred that if the activities of The Chinese Investors in particular are not properly monitored by the government, those into his type of business may find it tedious to survive and may sink into oblivion.
Speaking on the state of the nation, while applauding the numerous efforts put in by The Governor Babajide Olusola Sanwo-Olu’s led Administration to cushion the effect of the high rate of inflation in the country, through the various ‘Ounje Eko Projects’ appealed to The Presidency to go the extra mile to address the issue of hunger prevailing in the land.
Ukwaachinaka who got the sobriquet attached to his name in 1998 due to his business acumen and who has about twenty six years of experience as a business man to his credit, vehemently denied that he is not a politician when asked if he was one.
However, he revealed that he has a strong affinity with politicians due to the sensitivity of his role as The Chairman of the estate he resides in.
According to him, ‘as a community leader it is important to have a good relationship with politicians in order to fast track growth in the community’.