Doing business in Nigeria remains fantastic but highly risky and very tough; this was how the Chief Executive Officer of Slot Systems Limited, Nnamdi Ezeigbo, described business operations in the country.
Ezeigbo, while celebrating Slot’s 20 years of operation in Nigeria, used the occasion held at the weekend in Lagos, to launch his book titled: ‘Entrepreneurship The Slot Way: Succeeding in a Tough Business Environment.’
Ezeigbo said he had gathered wealth of experience in handling Slot business in the last 20 years and decided to share part of his experience in a book. He recommended the book for burgeoning and aspiring entrepreneurs, saying it will guide them adequately.
Speaking with journalists, the Slot CEO said it took him discipline, shrewdness, resilience, dedication and the grace of God to have survived the last 20 years as an entrepreneur in Nigeria.Boasting of over 65 Slot offices across Nigeria, he said the firm has been able to employ over a thousand people in the last few years and managed competition adequately, adding: “we also ensure we put customer first and sells genuine products.”
According to him, challenges confronting business development in the country are many including inconsistency in government and policies, poor and inadequate infrastructure; lack of skills; economic downturn, forex instability, among others.
Ezeigbo is however, optimistic that Nigeria will get better soon.Commenting on the book, Political Economist and Management expert, Prof. Pat Utomi, described the book as a valuable case study that would benefit and guide entrepreneurs in their business decisions.
He said every entrepreneurial venture does not come easy and needs some useful tips that will guide entrepreneurs, which are highlighted in the book. He commended Ezeigbo for handling a successful business in 20 years, and also commended him for his imaginative initiate to put his 20 years of experience into a book for up-coming entrepreneurs.
Former Chairman, Nigerian Economic Summit Group, Sam Ohuabunwa, who chaired the occasion, said: “Mortality rate of start-up businesses in Nigeria is alarming and Ezeigbo needs to be emulated for building a successful business in IT for the past 20 year, an experience that must be read in his book to encourage and guide up-coming entrepreneurs.”
Serial Entrepreneur, Leo Stan Ekeh, said: “It takes a large heart and high level of spirituality to succeed in business in Nigeria and the story of any successful business must be told to the younger generation.”
The Ooni of Ife and traditional ruler of the Yoruba race, Oba Adeyeye Enitan Ogunwusi, challenged Ezigbo to look inward among the Igbo youths and invest in some them as a mark of legacy to boost entrepreneurial ventures in the country. According to him, Nigerians have several youths who do not have support and are looking up to other Nigerians for support. “Nnamdi must give back to the society, not only in Lagos where his business is headquartered, but also among the Igbo race where he hails from. He should be able to raise several entrepreneurs that will take after him,” the Oba said.
Speaking about his inspiration to author the book, Ezeigbo said he wanted to make a difference in the entrepreneurial space because most of the books on entrepreneurship, were written by foreign authors who do not understand the Nigerian market place and do not focus on the peculiarity and challenges of doing business in Nigeria. According to him, the book was written out of his 20 years of experience in doing business in Nigeria and tailored towards a better way of doing business in Nigeria.