• Sunday, September 15, 2024
businessday logo

BusinessDay

Why FG needs to support talented individuals, indigenous firms promoting Nigerian brand

How to elevate your brand’s positioning as 2024 draws to a close

Many Nigerians are displaying talents in different corners that rub off on Nigeria positively. Daniel Obi writes these Nigerians, both indigenous firms and individuals need government support to drive the message of nation branding.

In the strategic position of Africa lies Nigeria. When African map is juxtaposed with structure of a gun, Nigeria is placed in the trigger position. Is it divine?, perhaps.

Again, the 210 million population country with about $400 billion GDP has enormous resources and talents, much of which are yet to be tapped.

Indeed, many amazing Nigerians within the country and in Diaspora and several local firms are pushing the frontiers, flagging Nigeria’s flag, in spite of socio-political and economic challenges. Those who have elevated their skills are undeniably re-writing the poor narratives of the country through their talents, investments and innovations.

Read also: Which Comes First: The brand or the product?

Nigerians are really displaying their talents in various fields, from sports to music, literature, fintech, fashion, start-ups, agriculture, entertainment, and to industries. These individuals and industries have impacted the nation as they have become “ambassadors of the Nigerian spirit, embodying resilience, creativity, and a drive to succeed against all odds”.

Government and stakeholders support is therefore crucial so that they will continue to push ahead, as their effort are impacting the nation in many fronts including employment, enhancing Nigeria perception, product diversification and skills display which are positively rubbing off on the nation .

For instance, in sports, many individuals like JJ.Okocha, Kalu Nwankwo, Daniel Omakachi, Victor Osihmen, Chioma Ajunwa, Blessing Okagbare, Mary Onyali-Omagbemi, Asisat Oshoala, Tobi Amusan and many more are flying Nigerian flag so high. They have become inspiration to Nigerian youth with their immense contributions to Nigerian sporting landscape. Many youth want to be like the achievers, but they are constrained by infrastructure for training, funding, exposure and mentorship.

“In recent years, Nigeria has emerged as a key player in Africa’s burgeoning tech scene, with Lagos often dubbed the “Silicon Valley of Africa.” Startups like Flutterwave, Paystack, and Andela have not only garnered international attention but have also provided a platform for young Nigerian developers, engineers, and entrepreneurs to showcase their skills. Yet, for every success story, there are countless others whose ideas never see the light of day due to a lack of funding or access to global markets”, says a source.

The entertainment industry which emerged without much government support is another successful story that government needs to leverage to enhance Nigerian brand. The Nollywood industry said to worth over $10 billion and which is promoting Nigerian culture and image can grow further with government assistance.

Like the fashion industry, local companies like, Rite Foods in the FMCG , Emzo in the pharmaceutical sectors, Innoson Motors in auto industry, Aba shoe industry, Kano leathers and other hubs have put Nigeria on the global map proving that Nigeria has the entrepreneurship, zeal and creativity to compete with multinationals on international space.

But, in many instances, some of the start ups and the established ones which can push Nigerian brand with their ideas are chocked with unnecessary taxations, levies and multiple taxations, regulations, poor infrastructure, poor electricity system and policy reversals that create burden on them, thereby hindering them from more employment and global competition.

Read also: Exploring the impact of business analysis on corporate strategy: A case study of Nigerian-based brands

Sometimes, regulatory authorities wait on the side-lines for any shop to be opened to tax them without considering their status.

These local companies like Rite Foods, Innoson Motors and Emzo for instance that employ thousands of Nigerians have made enormous investments and need encouragement to sustain their investments and thrive. Rite Foods, an indigenous firm, which entered a CSD space dominated by multinationals, has over 3,000 employees apart from indirect employees.

These local companies are pushing their products from Nigeria, exhibiting Nigerianness. It is interesting how Rite Foods, a local firm is favourably competing with multinationals with its array of products.

With the importance of the private sector in unlocking the full potentials of Nigeria’s economy, generate employment, feed Nigerians and calm tensions of agitations and insecurity, the players in the private sector need support in promoting Nigerian innovations and Nigerianness instead of stifling them.

Government can support the private sector, especially the start-ups with tax rebates.

While government can encourage mentorship and funding opportunities, it can also encourage Diasporans to return and invest in Nigeria.

Nigeria must find a way of celebrating indigenous investors. Nigerians must celebrate and promote their own talents and innovators.

For Nigeria’s future to be bright the potentials must be tapped but this requires collective effort. Nigeria also needs to support those flying Nigerian flag as nation image is benefiting from their skills.