Uche Akwuegbu, a businessman and President General of the Council of Nigeria Traditional Prime Ministers, wants businessmen to invest at home. He bares his mind to Special Correspondent Jenarius Ezeru.
Why he built BAWAS mall in Umuahia
As a man who loves his home and development, I decided to establish this mall in Ibeku, Umuahia. In Umuahia people, don’t have standard relaxation centres apart from hotels.
The mall is a conglomerate of businesses. We have a restaurant, a bar, hall with 2,000 sitting capacity, pharmacy, VIP lounge, diamond lounge, and a Shaman where we produce ice cream and cakes, cosmetics department and a boutique for both men and women’s wears.
The overall aims are to create jobs for youths, beautify Umuahia, and get a relaxing place for the people of Abia and Nigerians as a whole.
Operating the mall
The mall is nearly two years old. For now, we are not talking of progress because of the business climate generally in Nigeria but my happiness is that we have not shut down.
I believe that with time, the business will make progress. Abians are happy for the establishment of the business.
The greatest challenge is the short supply of electricity by the Enugu Electricity Company. The generator set serving the mall consumes 100 litres of diesel daily because of inadequate supply of electricity. This has increased our expenses.
With the power reform, one expected optimum supply of light but the reverse is the case. The government should refurbish all power stations in Nigeria and replace moribund transformers to ensure adequate generation and supply of electricity.
Nigeria is seen as the giant of Africa but is suffering power problem. If it is personnel, the government should overhaul them and bring in better people to manage the power sector.
Another problem is pilfering by workers. In the Western world youths working in this type of establishment do not steal, but here financial leakage is a problem.
I advise Nigerian youths to avoid bad conduct so that investors can make use of them for their own good.
Government assistance
There has not been any government financial assistance. I single handedly sponsored this business and if I have financial problem, I will approach my bank.
The only areas we need government assistance is security and power supply.
Advice for South East businessmen who do not invest at home
Even though the risk is 50-50, investment at home is more rewarding. During crises, businesses outside their home would be abandoned.
The government at all levels cannot provide employment for all unemployed youths. Businessmen should come home and invest to help create jobs and develop the South East.
In Abia State, industries should be established for youth employment and creation of wealth. An idle mind is the devil’s workshop, they say.
Youths roaming the street doing nothing may take to kidnapping, robbery and other social vices. Once employment is created insecurity in Nigeria will reduce to a manageable percentage.
Unemployed youths should diversify by engaging in various skills and depend less on white collar jobs.