‘Why Nigerians should create truly indigenous brands’

Nations are known for their brands and contributions to the world. Nigerians have been called upon to stop complaining and start tapping the opportunities in the nation to create truly Nigerian brands that will be a pride of the nation, boost the economy and alleviate poverty.

This was the submission of Group Managing Director of Genesis Group, Dr Nnaeto Orazulike, on behalf of the recipients of honorary doctorate degrees from the University of Port Harcourt recently. Orazulike noted that the fact that foreigners continue to establish new businesses or expand existing ones in Nigeria is a testimony that they see what we don’t see in our country and economy.

According to him, “We need to change our perception about our country and start looking at the opportunities and how to harness them. I am not saying that the challenges are not real, but beneath every challenge lies legitimate business opportunities. It was this desire that inspired the Genesis Group.”

Orazulike frowned at the tendency of many Nigerians to focus only on the negative side about their country and hype them without looking at the positive side, noting, “We are inundated daily with a lot of negative news and feelings about our great nation. News about Nigeria both within and outside the country is awash mainly with the difficulties and challenges of doing business in the country. The list of the challenges is endless, ranging from infrastructural deficit, to near absence of power, insecurity, low ranking on some global indices like ease of doing business and transparency issues etc. These, unfortunately, have impacted negatively on the psyche and perception of many of our young people such that many of them have accepted defeat even before graduation.


“On the other hand, many fail to see, from the same media that the multinationals already in the country are increasing their investments and deepening their shareholdings in their various business interests in the same Nigeria.

“Amidst the same challenges, you would observe a number of foreign businesses opening shops every day, and the existing ones extending their reach in many more cities. Look at what is happening in the retail landscape of our economy and the great inroads being made by the likes of Shoprite and Spar. It is much the same in the telecoms industry where MTN, Glo, Airtel and Etisalat have continued to grow and excel. The opportunities were not created by these businesses. All they did and, continue to do, is take them where many did not see the opportunities neither did they dare to even take them when they saw them.”

It was the same spirit that made him start the Genesis brand at the age of 21, Orazulike said. Today, the brand which started as Genesis Restaurant in Enugu, has grown to become a conglomerate spanning different sectors and employing about 2,500 people. Within the Genesis brand are to be found names like Genesis Restaurant, Genesis Deluxe Cinemas, Genesis Fill-up, Genesis Bread, Genesis Sojourner and more. Interestingly, the Genesis brand – which currently spans restaurants, hotels, catering, cinemas, real estate, bakery/confectioneries, facilities management and lifestyle centres started shortly after he graduated from the university.

For full report, visit source: The Guardian