By Prince Osuagwu
Most often local innovators are wont to giving foreign tags to their innovations so that they would either attract patronage or mass appeal. This was mainly for the reasons that most Nigerians prefer products developed or produced abroad.
But, Executive Director, Business Operations and expansion of Appzone Limited, Mr Emeka Emetarom has said that this worldview must change if Nigeria must join the league of innovative countries of the world.
He said that most things produced in Nigeria, are superior to their foreign equivalents, adding that “it is only the courage to showcase what we have in Nigeria that would attract the world to us”
He also advised the government to keep an eye on the Micro Finance banks with a viewing to ensuring their survival as the informal sector forms the taproot of every viable economy.
He said: “The recession has hit the microfinance industry hard as it has all other sectors. The reduced economic activity almost directly translates to increased loan default rates for MFBs and ll banks actually. However, I believe we are beyond the worst point now.
The job losses, increased dollar exchange rate, and the general fighting spirit of the average Nigerian all combine to create an atmosphere of new opportunity as small cottage industries start to spring up again, producing local equivalents of imported items we can no longer afford.
“An example is a lady I was inspired by recently. She produces leather belts out of her backyard. The quality felt like the kind I would expect to see a made in Italy sticker on, but to my surprise and total delight, it said made in Lagos.
Such start up ventures will find a huge market out there for their goods and will need the support of microfinance banks to grow. This will be a huge opportunity for the financial services sector, in general, and for MFBs in particular”.
The post Local inventors should be proud of their innovations – Appzone boss appeared first on Vanguard News.
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