Nigeria is still one of the poorest country in the world because most Nigerians that have money are spending it to show the world that they are rich Including celebrities.
Nigeria public space is jam packed with public figures, personalities parading themselves as brands.
Most Nigerians believe in living large as a show of wealth without investing in a diverse industry to expand the shores of the economy while most Nigerians think because they live a certain lifestyle, then that automatically makes them brands, so they end up making money and spending a lot of it maintaining what they think is their brand.
If more Nigerians can understand what a brand means, then we will individually begin to invest more in building brands than personalities and wrongly tagging it as a brand.
It’s fine to be a popular person and a public figure, but that is not the qualifications of a brand.
There is a difference between a brand and a public figure or personality. The reason why poverty is building its capital in Nigeria is because of private interests conflicting public interest.
Nigerians preferred to own personal and private properties instead of investing in public brands that can grow into cooperation and empires that will create more jobs and wealth for more people.
The monopoly of private enterprises and lack of proper regulation to carry the ordinary Nigerians along will continue to be the problem of Nigeria.
The reason why most Nigeria Brands are struggling is because their owners are diverting the power of the brand to build their personality.
I get to know about ovation magazine through the owner of ovation. DELE MOMODU. I got to know about Sahara reporters through OMOYELE SOWORE. In the same way I got to know about OTEDOLA through forte oil and DANGOTE through his Brand.
Now can you understand why the brands is bigger than the person. These are two different ventures.
If you divert your brand power to build your personality, that is a conflicts of interests, that is what is affecting some of the Nigeria entrepreneurs. they want to live large while draining the resource that could have doubled their brands, products or service.
before Donald trump became the president of America, he own much bigger brands and made more money before he decide to join politics.
In Nigeria, once a brand owner become comfortable they always want to rush into risking their brand resource to service their personal ambition.
Its true that the private sector is a better a employer of labor, but how many cooperation’s like Nestlé, Coca-Cola or others bigger international brands like that from Nigeria? lest begin to imagine the future and start building global brands that will not just be for induvial wealth but to help the public as well.
The Nigerian administration led by Buhari is talking about lifting Nigerians out of public, the question is? what kind of sustainable model are they building to archives their goal? I feel like building the industry that will develop more products, goods and services, and promote local brands into international standard is a way that can take Nigerians out of poverty because with a big industry and big brands, Nigeria youth will be gainfully employed and the tax rate will be remitted in a more standard formula that can define every Nigerian becoming an income earner from the government because if the private sector is given the chance to work with the government to create more jobs to build a strong economy, encourage brands and local product, then Nigerian will quickly move up from the poverty ration that its currently at.
Nigeria can build a more stronger economy if the private sector adopt some very functioning models that clearly distinguished and encourage private cooperation’s.
The present young generation Nigerians are cut up in this confusion because everyone is trying to get out of poverty and immediately you find your way out, then the next thing is to show the world that you are no longer poor.
The danger of this factor is that, more Nigerians will remain poor in a longer period if the wealth is not channel properly through redistribution.
The mentality have been critical cripple for a long time and it will take a longer time to reorient the mentality of Nigerians in ways that will help Nigeria.