Firm seeks support for backward integration investors to aid development
An indigenous firm with interests in laboratory furniture and equipment, pharmaceuticals, chemicals, among others, I.N Venatius Nigeria Limited has advocated the need for government to encourage investors in the backward integration chain for sustainability.
According to the firm, many investors who engage in backward integration are not being supported through local patronage despite their investment in the country.
The Chief Executive Officer of the firm, Iheanacho Nwaokorie lamented the lack of patronage for the company’s services despite the investment and product offerings in the Nigerian market.
He said: “We currently have over 25 permanent staffs, part-time staffs, additional staffs in the sales department and we take about 3-5 interns annually.
“Nigerians need to look inward. When you make your money in marketing or in trading, you should go back and do some backward integration; do some production in the country. People really recognize the level of expertise in Nigeria as we have the manpower here, our labour force is good, the market is large due to the population but the only problem is with the lack of constant electricity and security”.
Although I.N Venatius Nigeria LTD has its headquarters and operates mainly from Lagos, he lamented that the company gets the least level of patronage from the state.
“We have been around, Lagos has been our base, we have been paying our tax and doing activities in Lagos, we want consideration and patronage from the state. The Services rendered by I.N Venatius extends beyond states in Nigeria to Ghana. The company has carried out services for many highly ranked schools and companies in the country”, he added.
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