The Chief Executive Officer of a renowned business establishment has lamented the harsh economic environment across the nation, which is contributing to a high percentage of the problems of business owners.
Daniel Newman, Chief Executive Officer, SBI Limited, expressed pressing concerns over Nigeria’s high cost of doing business in Nigeria.
This is as contained in a statement released to newsmen on Sunday, September 1, 2024, after a four-day conference organized by the company, and the unveiling of its stem cell simulator, Allemax.
Newman decried the tight operating terrain which is currently affecting production cost and product distribution.
In the statement he said, “According to reports, the harsh business environment in Nigeria is having significant negative impacts on the manufacturing sector, decreasing productivity and competitiveness and leading to an estimated ₦1.5 trillion in losses for the sector
“We know that the government cannot do it all, but once there is an opportunity like this that pays and creates wealth and employment opportunities for youths, the federal government must create an enabling environment for these businesses, giving single digits loans for businesses to compete with foreign brands.”
Speaking at the conference Newman mentioned that, the conference theme tagged, “The New Oil Well: Towards Total Wellness and Financial Freedom” focuses on the call for the need for diversification of Nigeria’s economy other than just crude oil which is the major source of the country’s financial stream.
He also said that, “Our organisation, Straight Business Integrated (SBI), is a divine mandate, originating from the Zed Fate Foundation International. This initiative, conceived as my brainchild, serves as a platform for positively impacting the lives of individuals.”
“We place significant emphasis on corporate social responsibility which underscores our commitment to giving back to society through the provision of complimentary health services to our host community in Ikeja.
“This aspiration led me to delve into extensive research on therapeutic products with the potential to enhance the health and well-being of our communities.
He also highlighted on the fact that the company’s vision and aspirations moves beyond improving the living conditions of Nigerians to encompass other African countries, targeted at empowering Africans in wealth creation and mitigation of poverty.
Speaking further, he said : “In collaboration with partners from Israel, India, England, and a fellow Nigerian, our research endeavors commenced in 2018. Substantial capital investment was channeled towards aligning our projects with international standards. Since 2018, a significant portion of the proceeds generated by our ventures have been reinvested in business development and expansion,” he averred.
“From a business perspective, SBI offers a robust multilevel platform that empowers ordinary individuals to engage in our multilevel marketing framework, thereby engendering sustainable wealth creation opportunities. This framework ensures income generation and financial autonomy for Nigerians across all strata, ultimately mitigating poverty”.
Read More
