Businesses in Nigeria are created to escape personal poverty- Feyi Olubodun
By Amechi Obiakpu
The reasons why brands in Nigeria do not outlive their founders have been attributed to the focus of the founders.
Feyi Olubodun, an advertising expert and former Managing Director/CEO of Insight Publicis Nigeria, of the Troyka Group said this at the 2018 LAIF Awards MASTER CLASS, held in Lekki, Lagos on Wednesday.
He spoke on the theme: “African Brands Revolution: Why Global Brands Dominate Africa”.
Feyi Olubodun, who recently bagged the 2018 Brand Journalists Association of Nigeria (BJAN) Best Manager in Core Advertising Industry in Nigeria Award, said: “A lot of people who start businesses in Nigeria, do that to escape personal poverty and once that is achieved that may be all about the business.”
According to him, “it goes beyond the immediate gratification and that is why brands which outlive their founders are founded on a structured plan.
“You don’t build global brand in a day. It takes years of planning, nurturing and growing for it to get global recognition and attention this is what is lacking in some of our Nigerian businesses,” he said.
He however advised that, Nigerian brand owners in particular and African brand owners in general should rise up to the challenge of the population explosion by working hard as a continent to meet the demand which the population will throw up and thus grow the brands.
