Delivering his speech during the 2nd Anniversary Lecture of AnaedoOnline, Chief Chukwuma said that he has gotten loans from Nigeria Bank of Industry more than ten (10) times.
While speaking, he noted that there are a lot of opportunities in Nigeria that young people can take advantage of, using their creative knowledge and skills.
“I advise our young entrepreneurs to make research, there are a lot of things that can be exported out of Nigeria”
“Nigeria is a land of opportunities, I started business during the days of my youth, I have used different creative concepts to build my businesses, I gave motorcycle spare parts business shape in Nigeria, when I ventured into manufacturing, I started with plastic manufacturing, after that, I moved into motorcycle tyre manufacturing, then later upgraded to vehicle manufacturing”
“I succeeded because of the innovation I brought into my businesses. In Africa today, my plastic company is number one, when I was trading on motorcycles, I reduced the price from One Hundred and Twenty Thousand (120) Naira to Sixty (60) thousand Naira”
“When I went into vehicle manufacturing, a lot of people told me about the stories of many vehicle manufacturing companies that have collapsed, but due to my research and study, I was able to understand how and why they failed, the lessons I draw from their failures and also my research, helped me to build what you have told as the First Vehicle Manufacturing Company in Nigeria”
While urging young entrepreneurs to use their creative knowledge and skills to develop and build businesses, he encouraged Nigeria entrepreneurs to leverage on the loan facility of Nigeria Bank of Industry (BOI), noting that he is one of the beneficiaries of BOI.
“Young Nigeria entrepreneurs should apply for loan facility in Nigeria Bank of Industry (BOI), since I started my industry I have collected loans from BOI more than ten (10) times, when I pay, they will give me another loan, the problem is that most entrepreneurs don’t pay back their loans, when they burrow, they will use for another business”
“I advise young people, when you borrow to grow your business from any source, always make sure you pay back the loan“
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