• What Kalu, Okonkwo told Ndigbo in Lagos
From Magnus Eze, Enugu
Deputy Speaker of House of Representatives, Benjamin Kalu and Chairman, United Nigeria Airlines, Prof. Obiora Okonkwo, on Friday, July 14, told Igbo traders in Lagos State the home truth. The duo urged them to always maintain good relationship with their host communities, while retooling their business model by making it sustainable through innovation and technology.
They spoke at All Markets’ Conference 2023, organised by NdigboAmaka Progressive Markets Association, an umbrella body of 58 major market associations in the state. The theme was “Catalysing partnership with traders through innovation, technology, analytics and sustainability.” Kalu harped on the dying Igbo apprenticeship system otherwise called Igba-Boi, noting that this time-honoured tradition, which had played pivotal role in the growth of capital formation in Igbo land, especially during the challenging post-civil war recovery period, must be sustained.
He enjoined them that this shining example of excellent venture capital in the world should be reformed in line with the prevailing situation across the world. He said the Igba-Boi could be adopted as a national apprenticeship system and combined with the conventional education system in Nigeria to optimize the benefits for the teeming youth.
He also tasked Igbo traders to be more innovative in their use of technology: It can improve your businesses in a number of ways, including increasing efficiency, reducing costs and expanding their reach.”
He lamented that Igbo businesses hardly outlived their founders unlike the Chinese, the American, and the British family businesses that had thrived for centuries: “We need to build businesses that can thrive for generations to come.
“We must learn from them and adopt their strategies to improve our business style. The people and families behind the enterprises in Igbo land either micro, small, medium or large must think out-of-the-box and craft out processes for the longevity and sustainability of their businesses.”
Kalu urged them to focus on building progressive business ecosystems that supported small, medium, and large-scale enterprises among the Igbo community in Nigeria: “This requires reforming the Igbo apprenticeship system, which should include the establishment of innovation hubs, enabling modern financing options like listing on moderate stock exchanges, and establishing commodity exchanges for improved liquidity and trading of goods.
“You must also be open to equity investments and venture financing, fostering an environment that encourages risk-taking and innovation. About N4 trillion has been lost to the weekly stay-at-home imposed on the South-East in the last two years by Biafra agitators.
“As individuals in positions of influence, both in the government and the private sector, we have a responsibility to create an enabling environment for businesses to thrive. One of the key priorities of this current administration is the decongestion of our seaports and investments in key infrastructure including roads, rail, other logistics and storage systems. I will ensure that as the Deputy Speaker of the House of Representatives and a leader in the 10th National Assembly, we expend all the legislative and oversight powers in our capacity to ensure that all of these enabling developments for the growth and sustainability of our businesses are carried out.
“The existential threat to Igbo entrepreneurship and businesses now is the insecurity and sit-at-home problem in the south-east. The mutation of this problem is largely unfathomable. It is becoming a cankerworm that is eating deep into our collective fortune as a people.
“We have to rise up to nip the problem in the bud. We must find lasting solutions to the security challenges in Igbo land, addressing them collectively with innovative strategies.”
Okonkwo, who is also National Grand Patron of the markets association, recalled: “The promise that we made to Governor Sanwo-Olu was not born out of selfishness. Rather, it was made on our conviction that he judiciously used his first term to positively impact lives, irrespective of where those lives originally come from.”
He decried the occasional diatribe between the Yoruba and Igbo in Lagos State: “The only people, who foster, revel in and benefit from such conflicts, are crisis merchants. We must rethink our association with them if we must maintain a decent relationship with our host communities.”
“We invest in any place that we are welcome. Lagos State welcomes Igbo people and that is why we are able to help develop capacities and expand the economy. However, that Lagos State welcomes the Igbo does not in any way suggest that the land called Lagos (Eko) belongs to the Igbo. Geographically, the Igbo people have their homelands and that is why the ‘aku luo uno’ (bringing the wealth home) philosophy must also appeal to our hearts.
“I will implore our Igbo brothers living and operating in Lagos as in other states of the federation to always remember that ‘ana enwe obodo enwe’ (every community owned by a set of people).”
He advised the Igbo to always respect laws of the land while making themselves available to serve in any capacity the states they live invite them.
Okonkwo extolled the efforts of Chairman, South East Governors’ Forum, Hope Uzodimma (Imo State), Governor Alex Otti (Abia State) and the leadership of Ohanaeze Ndigbo under Chief Emmanuel Iwuanyanwu, in seeking better relationship and understanding between Ndigbo in Lagos and their Yoruba hosts.
President of the group, Chinedu Ukatu, called on government to also look the way of traders and ease some of the policy restrictions that affect import and export trade. He lamented that in spite of the huge contribution that traders make to government coffers through taxes and other levies, no government in the country has recognised and given them a pride of place.
He disclosed that their trade has taken over 500,000 youths out of job market. He urged government to lift import restrictions and make it possible for traders to transact business with ease: “Permit me at this point to note that even the industry where we transact 80 per cent of our businesses, the relevant agencies of government saddled with trade still find it difficult to recognise and give us the necessary business protection and neither seek collaboration with us on some policy decisions.”