Lawrence Nwimo, Awka
Business experts and investors in Anambra State have expressed deep concerns over the escalating insecurity in the state, lamenting the significant decline in their businesses and investments.
They made their feelings known at the BON SmithCity 2024 Business Summit held in Awka, Anambra State Capital, Friday.
Experts who spoke at the summit attributed the decline in patronage to their businesses particularly Real Estate to the existing insecurity in the state.
According to them, customers now prefer to invest their resources in other places like Asaba in Delta State due to the rising kidnappings, cult clashes and general insecurity in the land.
“Our businesses are being affected. The Real Estate business has dropped in Anambra and Asaba has taken over. Asaba is gradually turning into the Lagos of the South-East.
“Insecurity has gotten to the extent that when someone calls for a potential business, you begin to think twice before answering the call. We can’t operate effectively in an environment where lives and properties are constantly at risk.
“By natural default, we are negative and even the environment prepares us to be negative. But in Anambra State, we are minus negative because of the present insecurity in the land.
“Where we are today, we struggle to sell one or two properties unlike before. That is why the majority are shifting from the environment. Government should help us to secure the state so that businesses could thrive to develop our state,” they stated.
Ikengaonline reports that the Summit themed: ‘Business Ethics & Sustainability in the 21st Century,’’ is an annual event of BON Hotel Smith City in Awka organised to help support the investment agenda and drive of the state government. It is also to foster developmental growth, boost the economy of the state and country at large.
During his presentation, Mr. Jude Obiekwe, CEO of Catchline Group (CG), emphasised the crucial role of entrepreneurship in building a thriving African economy. He stressed that problems in Nigeria are opportunities for vision and growth.
According to Obiekwe, one of the biggest challenges facing Nigeria’s business environment is leadership. He argued that entrepreneurship must precede business, as business is essentially the commercialisation of created value. To maintain focus on this value, Obiekwe said entrepreneurs must prioritise structure for growth.
To overcome challenges in business, Obiekwe advocated for creating partnership webs. He noted that Nigerians are individually strong but corporately weak, emphasising the need for collective effort.
“In Nigeria, we are individually driven and not corporately driven. We are more rich when we work together than when we work individually.”
Mr Uchenna Ajator, CEO of Unique Rentals, in his address on “Business and Legitimacy,” emphasised that the core purpose of entrepreneurship extends beyond profit maximisation. Instead, he stressed the importance of providing meaningful solutions to people’s needs.
Ajator advised participants to establish a professional corporate identity by registering their businesses, obtaining a corporate address, and fulfilling other essential formalities. He underscored that legitimacy encompasses not only legal compliance but also adhering to high moral and ethical standards.
Furthermore, he highlighted the significance of innovation and customer-centricity, encouraging entrepreneurs to embrace feedback from their clients to drive business growth and improvement.
Chairman of the Real Estate Developers Association, Mr. Martins Nwafor, addressed participants on the pivotal role of effectively utilising their key resources for wealth creation. He stressed the significance of establishing meaningful connections, emphasising that success rarely occurs in isolation.
Martins also highlighted the importance of cultivating social capital through strategic relationships, underscoring the critical role human relations play in sustaining business growth and longevity.
Renowned entrepreneur, Benjamin Ezemma, Developer of Dubai Estate, shared invaluable insights with aspiring business leaders. He emphasised the importance of resilience in entrepreneurship, stating that overcoming challenges is a crucial aspect of success.
He also encouraged entrepreneurs to cultivate innovative thinking, foster internal growth, and adopt a scalable approach to business development, summarising his philosophy as “think big, start small, and expand.”
Hon. Amb. Gabriel Chukwunwendu, another Estate Developer, offered sage advice on the importance of balance in business, cautioning against the pitfalls of greed and advocating for contentment as a key factor in long-term sustainability.
The State Police Public Relations Officer (PPRO), SP Tochukwu Ikenga, encouraged the participants and the public to establish a sound working relationship with security agencies in the state for the sake of security updates and emergencies.
Ikenga who represented the State Commissioner of Police, CP Nnaghe Obono, urged participants to eschew trouble in their business dealings, noting that there would be nothing like insecurity if all imbibed existing business and professional ethics.
Dr Edith Anyakwo, a clinical Pharmacist at Nnamdi Azikiwe University Teaching Hospital, advocated for proper management of mental health while doing business. She said sound mental health could be achieved by reducing stress levels and cutting out unhealthy lifestyles.
Earlier, the BON General Manager, Anthony Zuokemefa explained that the event was to support the government of Anambra State in her cry to attract investments, encourage investors both intending and the already established as well as create a symbiotic business relationship and healthy business network in the state.
