Industrialist urges FG to make educational materials duty-free
From NWABUEZE OKONKWO, OnitshaBy PETER ANOSIKE
Thursday, June 04, 2009

A frontline industrialist, Chief Donatus Madumere, Managing Director/Chief Executive Officer (CEO) of Domarth Trading Company Limited and Vinval Industries Limited, Onitsha, Anambra State, manufacturers of exercise books and dealers of printing materials has urged the Federal Government to make importation of educational materials duty-free, to help eradicate illiteracy in the country.

 He also identified the current electricity problem as one of the major constraints militating against industrialization in the country.
 In an interview with Daily Sun in his office in Onitsha, Anambra State, Madumere spoke extensively on the need to boost power supply, so as to enable industrialists survive and contribute their quota towards the much desired economic recovery.
Excerpts.

You deal on educational materials, what are the problems confronting that line of business?
 The major problem is that import duty on printing materials and raw materials are so high that dealers always run at loss. Education materials should be made import duty-free, so as to help wipe out illiteracy. Making it duty-free will surely boost education up to university level.
 
How do you see the privatization of our ports?
 Privatization of our ports is a better option because it will make things easy. But I must emphasize that those handling our ports now are making things costly. Government should check the excesses of our port managers to help bring down the cost of imported goods. In summary, printing materials are scarce and costly because of high import duty. If we must promote education in Nigeria, we have to look into the high import duty issue which started during the military regime.

Another thing that is stiffling business activities in Nigeria is high interest rates, but the power problem is the greatest of all. If government could improve on power sector, I bet you, Nigeria will join the league of industrialized nations in a maximum of two years.
 
How did you start your business and with how much?  
 In the first place, I am from Urualla community in Ideato North Council area of Imo State. I started as an apprentice trader and started off with N30 those days. I then started trading on printing materials and exercise books. At a stage, I established manufacturing industry on exercise books and at the moment, we are building paper industry which will take off soon. For now, I am financing the project myself but it is likely I will involve banks at a later stage.

I am the sole distributor of high quality printing inks being used by printing and publishing companies, including The Sun Newspapers.
 
Can you compare doing business in Nigeria and doing business overseas?
There is no comparism at all. But as a Nigerian, I am under obligation to accept whatever happens in the business industry in the country. You can’t compare business environment in Nigeria with those of the industrialized nations, but we have to accept whatever business climate in Nigeria as we see it.
If we want our economy to grow and if we want to create jobs for our teeming youths, electricity supply has to improve. If we improve on electricity supply, then anybody can establish businesses in any remote area, become self-employed and even employ others.

With steady electricity supply, no matter what you are doing, no matter wher you are doing it in Nigeria, you will succeed and people will no longer have to depend on only government to create jobs. You can even create one  yourself.
 
What is your vision in venturing into business?
My vision in venturing into business is to build an empire, so that other people will have jobs in the empire. I am still on my way to build the empire. Dormath Trading Company is into printing materials with more than 25 staff and by the time Vinval Industries takes off with paper mill before the end of 2009, we will employ more workers. The structures are on ground and our next stage is to install the manufacturing machinery, according to our arrangements.
 
How about the recapitalization of banks? 
The recapitalization of the banking sector is one of the best things that has ever happened to this country. One, you can now put your money in the bank and sleep with your two eyes closed. 

Finally, How would you assess the recent South-East Economic Summit organized by the management of The Sun Newspapers? 
We hope The Sun economic summit will ginger both the government and the Organized Private Sector (OPS) to work harder and agree in concrete terms to work together and change the face of the nation for good, both economically and otherwise.