Businessman tells alumni how to survive in challenging business economy

Nigerians have been urged to imbibe the culture of developmental strategies that will position them for the best opportunities, in order to survive and flourish, especially in the present staggering economy of the country.

This charge came at the 2019 Alumni Reunion of the School of Engineering, Yaba College of Technology, which took place recently at Finicky Hall, Yaba, Lagos.

The event was graced by old engineering students of the institution who came with the aim of achieving societal growth and collective development.

In his speech, the MD/CEO of Slot Systems Limited, Mr Nnamdi Ezeigbo, who is also an alumnus of the institution, explained that some businesses and entrepreneurs fail today in their careers as a result of lack of three key values: vision, direction, and knowledge. He pointed out that other businesses fail as a result of a lack of relevant internal factors that have to do with ethical behaviour.

He said: “In Nigeria today, there is a lot of competition in the business world. It is important to have a vision and direction that will help you strategise properly and avoid your ideas from being snatched by competitors. Again, it doesn’t matter how good your business is, if you do not practice integrity, ethical morals, and authentic leadership, you just might fail.”

He further advised entrepreneurs on the dangers of walking alone in the business world, emphasising on the need to engage in partnerships that could lead to a successful career. He also encouraged industrialists to invest in low marginal businesses, urging them to always make a profit from whatever they do and save for rainy days.

“In the end, if we all do our businesses properly, we will not only impact our immediate environment but also transform the world”, he said.

The President of the Alumni Association, Oluwafemi Martins, who appreciated all the alumni present at the reunion said: “The Alumni Association jointly constructed one of the biggest buildings dedicated to our alma mater, Yaba College of Technology, for conferences and seminars, we also celebrated the 70th anniversary of the founding of institution at the National Arts Theatre where we invited Mr Tunde Lemo, former deputy governor of the Central Bank, to facilitate a workshop on how to improve the economic growth of the country.

“Consequently, we have continued to award scholarships to students who have the passion for education but do not have the resources and, as a matter of fact, we are currently trying to agitate for more of technological education in the syllabus because of its importance in the development of the country. It is only a matter of time until we actualise our aspirations.”