BY FRANCIS KADIRI
The Chief Executive Officer, Gembu Mining Development Company, Emmanuel Omije, has expressed concern that Nigerian businesses are not rapidly developing to become global brands as is the case with commerce of some other countries, saying that “in a population of over two hundred million, Nigeria has only Aliko Dangote as its global brand in the mining sector.”
While describing the situation as “un-encouraging,” he called on stakeholders to rise up to the task of facilitating the development of the Nigerian private sector in a way that they will grow to become global brands.
“Every country has a big brand, and I ask, ‘has Nigeria been able to raise a big brand in the private sector?’ If the answer is ‘no,’ then let’s ask ‘why,’” he said.
According to the CEO, “Nigeria needs to take a cursory look at how big brands like Glencore, Rio Tinto, BHP, Caterpillar, Samsung, General Electric, Hyundai, Toyota and Honda evolved,” adding that the policy support of the respective home governments of the big brands was indispensable.
Discussing the criteria that must be fulfilled before local mining sector brands can become big global companies, the former member of the Diplomatic Corp said, “If indigenous operators will develop a product that will be globally recognized, the private sector must be allowed to lead the way, while the government regulates the industry,” stating that government should not be involved in running mining business.
He explained that policy summersaults will work against the realization of set goals, noting that any law that does not augur well for private sector development should be repealed.
He said, “The Ministries, Departments and Agencies are not cut out to do business, they should only create enabling environment for the private sector to thrive,” adding that government should be primarily concerned with law-making and enforcement of best practices, not engaging in mining business or purchase of any solid mineral commodity.
He explained that “in the mining sector, for example, there will be clashes of interest when government agencies or departments get into buying of gold, training and all that.”
“Somehow, they will begin to see those in the private sector as competitors instead of collaborators, and this will not augur well for the good intention of the government,” he said.
“So, my advice to the government is that they should not be involved in buying and selling, if they do, it is a contradiction of the policy of a private sector-driven economic system that they are trying to build.”
“All over the world, governments prefer that their economies be driven by the private sector, and I have no doubt that it is the best for Nigeria,” he added.
