From Fred Ezeh, Abuja
Coalition of Societies for the Rights of Older Persons in Nigeria (COSROPIN), has identified why corporate companies, firms and family businesses in Nigeria never exist longer than few decades.
Its President, Senator Eze Ajoku, who revealed the information at a press conference in Abuja, on Thursday, submitted that many of the companies and big businesses that had gone into extinction in Nigeria were established on faulty ground and objectives, hence they easily deviate from their objectives within a short time.
In addition to that, he said that some of the companies allegedly engages in “short cut” in terms of service delivery and other fraudulent activities to enrich themselves to the detriment of their customers that often pay hugely for services.
He said: “In Nigeria, many private/family viable businesses do not survive generational transit. Many of them lose steam and die off after the death of their founder. Only a handful proceed from one generation to the other. Very few pass through two generations, and as such need to be encouraged to plan for sustainability.
Senator Ajoku, however, announced an award opportunity tilted “National Corporate Senior Citizens Award”, to appreciate companies that have operated in Nigeria for 60 years and above, as well as corporate individuals above 60 years of age that had contributed greatly to the growth and development of Nigeria.
He said: “The award initiative will help create a standard of reference and response for them on how they have impacted on our employment generation, skill transfer, poverty reduction, taxation, corporate social responsibility; even diplomacy.”
He explained that the award initiative is a national strategic innovative initiative with international focus, designed to help create and develop institutional memory, reference and award protocol for corporate senior citizens of/from 60 years and above.
“The aim is to appreciate their sustainability, capacity, service delivery framework, partnership, and their innovative skills that has kept them running over the decades.
“Undoubtedly, the world business eco-system need to know pioneers of Nigeria corporate world, where they are and what has happened, in terms of their contribution to the country’s social economic development, their challenges and current operating status.
“We also need to know their operational success and survival strategy, present a research and case study for business schools and tertiary educational system, and also, to clear doubt of misrepresentation, distortion and devaluation of Nigeria business community.
“This will create a need for reward, appreciation and recognition for them as to create classification, branding and possible rebate/waivers, special privilege and protocol to them, in addition to aspiration bank and competition need to get to be a member of privilege Nigeria Corporate Senior Citizen.”
Meanwhile, President of International Federation on Ageing-Nigeria (IFAN), Ike Willie-Nwobu, in his remarks confirmed that companies/businesses are life wire of countries.
“They represent bloodline and watering protocols of countries in diverse ways including but not limited to employment generation, knowledge/skill transfer, poverty reduction, innovation/research, investment, diplomacy/foreign relation, among others,” he noted.
He encouraged government to provide conducive environment for the SMEs to thrive, create employment, and contribute to the Gross Domestic Product (GDP).