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Doing business in Nigeria requires potentials, good ideas and resources —Oscar Odiboh

Dr. Oscar Odiboh, Managing Consultant Newsletters Limited. He bagged his doctorate degree in the new area of Philosophy of Marketing Communication in University of Lagos. He has worked in companies like Lintas, Insight and Solutions before establishing Newsletters Limited years ago. He has written books on marketing communication which are recommended to higher institutions in Nigeria. He presently lectures part-time in University of Lagos.

Dr. Oscar Odiboh: Explained what it takes to do business in Nigeria
Dr. Oscar Odiboh: Explained what it takes to do business in Nigeria

In this interview he voiced his opinion on the sack of the five Bank CEOs and their banks.
As a managing Consultant, Newsletters Limited, may we know its activities, contributions in Nigeria?
Newsletter is a full fledged marketing communication outreach. By that we handle all those element of marketing communication such as advertising, public relations, publicity, marketing public relation, direct marketing, sponsorships, educations, displays, barter etc. These are the tools we use in our businesses in Nigeria, thereby contributing in our quota in the growth and development of Nigerian economy.

With stiff competitions in marketing sector of the economy, how do you see marketing in Nigeria?
Marketing in Nigeria has developed and is still developing. There has been some kind of deregulation. Self-involving deregulation in the marketing segment of the Nigerian economy, what do I mean by that. The market exists, new products come in, product can come, product can go out. For instance, you see new detergent coming into market while old ones going out.

You have imported brands coming in and the local brands fighting competition. It’s involving, anybody can come into the Nigerian market, although it’s always say that you don’t leave the market to every Dick,  Tom and Harry. While the door is open for everybody, there got to be some kind of regulation that would ensure that bunkery is not gloried. So far I can say that marketing in Nigerian has grown. For us we have our own strategy for survival. The company came to being 11 years ago, we have weathered the storm, so we’ve a strategy for survival put in place that is giving us the confidence there is hope for the future.

On a general view, how do you think we can develop entrepreneurship in this country, considering our economic environment?
The first thing we must admit is the fact that all businesses or entrepreneurship in Nigeria are operating under a stiffening environment.

It’s highly competitive. But there is doubt that there are potentials here. That is why you have South Africans coming here, Americans, Indians, the Chinese are everywhere and Nigeria is like a second home to a lot of them. There are potentials here but basic amenities needed for business progressions are not just available. Just like a friend of mine said recently, that every company in Nigeria is a local government of its own, thereby you have to provide your power supply, water, contribute money for repairs to the road that leads to your company is in good condition.

I’m not saying that government is not trying, but what we have had is the challenge of business that forces you to provide these things for yourself. Instead of you to concentrate on core competence, business, you are also saddled with the responsibility of ensuring that these basic utilities, facilities needed for running business are in place because without them business cannot run. There’re a kind of digration that makes you lose focus. It’s stiffening environment, there is no doubt about that. But how do we survived, it’s a survivalist environment, you just got to have the distinct of survival.

And how do you do that, you first have to got the idea that can withstand the test of time. You got to have the creative ability for that particular business, so that no matter how terrible the situation is it will not outwit your idea. Your idea has to be enduring and elastic. Ideas that can pull people along and accept it.

However, with the ideas, you got to have the resources, the capital and the know-how and your experience counts. Moreso, government participation. Government has to wake up to its responsibilities as it were. There are some state governments that are doing well now, ensuring that the roads, water supply are getting


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Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.