The Group Managing Director and Chief Executive Officer of Odu’a Investment Company Limited, Mr. Adewale Raji, has said that there are more opportunities in the Nigerian economic environment than challenges.
Raji, who made the assertion in Lagos on Wednesday during a business forum, said that as much as there were challenges of electricity supply, policy summersault and high cost of raw materials for small and large-scale enterprises, there were equally limitless opportunities that could be tapped into by any smart business owner.
He said, “The economic climate in Nigeria today is not very favourable to manufacturers for so many reasons like power supply and government policies. But then, there are businesses that have been surviving in Nigeria. While some could look at these as challenges, others see them as opportunities.
“A lot of companies in Nigeria today use natural gas to generate their own power supply. For them, the cost of diesel and running generators is too outrageous. So, many of them now run their businesses with gas turbines and they are doing very well. We have indeed seen people who have weathered the storm and overrode the tide to remain successful in business in Nigeria today.”
While unfolding the company’s plan to revive some of its ailing brands like the Lagos Airport Hotel and its interests in the foods and beverage sector, Raji said they were working tirelessly to achieve three-digit growth over the next five years to compete favourable with other established conglomerates in the country.
“We want to be a leader in our chosen sectors. We are working very hard to get the company competing at all levels and also become one of the most preferred brands in the sectors we currently operate.
“We have agreed that we want to see a sustainable hospitality business and when we look at the Lagos Airport Hotel and the rest, we are hoping to go through a transparent process to make sure that we have a recognised partner that we can work with. We have not chosen a partner yet but we are in the process already.
“The board came up with a three-digit growth target over the next five years. We are going for a 250 per cent growth in five years. We have shared our vision with our shareholders and are now hoping for the best,” he said.
Source:Punch
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