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Nigerians who invest, gain wealth

25 April 2016, 19:36

Lagos - Samuel Egube, Chairman of the Management Consultancy firm, AltAssist Limited, has stated that Nigerians need to further change their mindset with regards to investing to accrue wealth, Vanguard reports.

Egube said that for too long Nigerians as well as others across the continent have depended only on themselves to run a successful business and in doing so, many companies do not pass on from generation to generation.

Also read: Six Ekiti doctors die in car crash

The mindset of Nigerians, Egube believes has been too reliant on aspiring entrepreneurs believing that if they are not self-funded or are granted funding by banks, their business ideas are dead in the water.

He added that these entrepreneurs should invest their capital in each other and into companies rather than relying on the backing of banks to achieve wealth and success.

Vital to the development of confidence in investing however, is infrastructure, and more specifically power and logistics. These two things are needed to support new small businesses in being fully functional and sustainable.

A major stumbling block to the development of new businesses and wealth distribution is corruption. Corruption needs to be eradicated or minimised to enable business owners to have a fair opportunity in building successful enterprises.

For more on this story, visit Vanguard.

- News 24


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