A chief cable producer and President of Zobis Electric Wires and Cables Restricted, John Ezeobi, has defined why his corporate continues to be making an investment closely in Nigeria regardless of financial demanding situations.
Ezeobi stated that some of the a number of causes he helps to keep making an investment within the nation’s financial system is that it’s more straightforward to ascertain and nurture a trade in a single’s personal nation.
The industrialist mentioned this in an interview with reporters in Onitsha on Tuesday, noting that Nigeria, with a folk of over 200 million, has a immense marketplace for any trade to thrive in.
He identified that Nigeria’s building sector is utility about $106 billion and rising, including that they’re positioning the corporate to faucet right into a multi-billion buck rising marketplace.
He stated, “As an entrepreneur, it’s more straightforward to reach your nation. I’m really not looking to say that marketers don’t achieve international locations alternative than their very own; I’m announcing it’s a lot more straightforward to reach your personal nation as a result of you already know the soil and you have got a community you’ll simply leverage on, you already know leveraging is essential to trade accomplishment.
“I’m really not certain Aliko Dangote can be this a hit if he began in other places alternative than his personal nation. Nation like Blameless Chukwuma, Femi Otedola, Tony Elumelu, and so forth.
“Nigeria is an overly immense marketplace, the biggest in Africa, with over 200 million family. The price of Nigeria’s building sector is ready $106 billion and rising, subsequently we’re positing our corporate to faucet right into a multi-billion buck rising marketplace.
“With the type of marketplace we’ve got in Nigeria, it’s simply so that you can create constituent issues and consider me in case you don’t have capability, you could now not be capable of catch up with calls for. Our folk is a superior merit for trade. Now we have opened liaison workplaces in virtually all of the primary towns in Nigeria.
“We found a niche in the electrical components manufacturing because our country is still a construction site with immense opportunities for companies in the building sector, such as wire and cable manufacturers.”
He mentioned that the development marketplace measurement in Nigeria used to be $105.8 billion in 2023, and it’s anticipated to get up in 2025, explaining that Nigeria is anticipated to proceed to dominate the cable marketplace in Africa
“Nigeria will proceed to be the fastest-growing department within the Africa Wires & Cables Marketplace. This enlargement is propelled via fast urbanization and infrastructure building. It’s projected to achieve $500 million via 2024.
“These opportunities are for people who are ready and prepared. I counselled young entrepreneurs to believe in the country. Apart from the government, only entrepreneurs can bring solutions to myriads of problems facing the country.”