Every Entrepreneur Must Cultivate The Habit Of Savings---Chief Ubogu

In Spite of the present economic hardship in the country, some creative Nigerian entrepreneurs like High Chief Michael Orobosa Ubogu,Chief Executive Officer of Micura Services Limited and African Award-winning Entrepreneur still believes that the economy will pick up in no distance if all economic indices are put in place by President Buhari-led administration.

Speaking at his palatial office with Mindset Team recently, Ubogu said every businessman must cultivate the habit of savings and strive for success. Today, Micura Services Limited is growing fast not because we are the best in the Maritime Industry but we are always creating new ideas to grow our company and beyond. Every business must think out of the box.

He revealed that Nigeria is where it is today because our political leaders failed to save for the rainy day when our oil was booming. We cannot totally blame this present administration because corruption was highly perpetrated in the last administration. The concession of the ports by the former President Oluesgun Obasanjo brought sanity and stabilization in the maritime sector and the economy generally.

Speaking further, Ubogu said every businessman must have focus even making losses at a critical time like this.Precisely, last year, I lost over 60 million naira to a contract but I never loosed focus in life. If you lose focus and money, then you are already a failed businessman but if you are focused and lose money, you become a great businessman with progress.

In Entrepreneurial leadership, many went into it and abysmally failed in the sense that be a graduate as a businessman does not make you financial management guru.Knowlwge of business makes you do well in the means of hard times. You must separate your business from personal spending not to end your company in bankrupt.

He went further to lend his entrepreneurial voice on the recent advice of the African business mogul, Alhaji Dangote to federal government to sell off Nigerian Liquefied Natural Gas Plant(NLNG) to generate funds for critical infrastructural projects. I want to say here that, Dangote once sold off his own company and went to rent another office before he later stabilized in his business. Most of our government corporations are doing nothing to contribute to the Nigeria economy than encouraging massive corruption in the country. In business; you must build trust and integrity.

Any entrepreneur that lives above his or her means might not survive this economic recession. For over the years, I try to live averagely and prefer Nigeria-made goods and wears. Living a fake lifestyle to impress people is not the best for growing entrepreneurs like me. President Buhari meant well for Nigeria in spite of the growing hardship faced in the country now, he said.

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Articles by Godday Odidi