New Telegraph

Business In Nigeria Suicidal – Peter Obi

…Commends CUTIX PLC.

Presidential candidate of the Labour Party (LP), Mr Peter Obi has described the idea of doing business in Nigeria as suicidal lamenting the neglect of government in supporting commerce, industry and wealth creation.

Obi further lamented that other companies in parts of Asia that were quoted along with Nigerian companies in the stock markets are living in affluence while their counterparts in Nigeria have either closed shops or are still grappling with the challenges of remaining afloat.

Obi who disclosed this at the 40th anniversary of CUTIX PLC and grand reception of the co-founder and Chairman of the company who is going on retirement Mr Obi Nwosu noted that the problems of the country stem from having people who have not created wealth or employment at the helm of affairs of the nation.

“Unfortunately in Nigeria, it is difficult doing business and embarking on the business is like committing suicide here.”

*When CUTIX PLC was first quoted in the stock market other companies in the world like in parts of Asia were also quoted but today those companies are living in affluence compared to those here in Nigeria ”

“Unless the Federal government decides to do the right thing by supporting these companies they cannot go far and they need support because they are those that create jobs, they are the ones that will turn around the economy and they need all the government support,” he said

Obi recalled when as the governor of Anambra state his administration and CUTIX PLC constructed the road for the company adding that CUTIX provided half of the cost of the project while the government provided half and the total sum was given to the company to construct the road.

He also recalled being instrumental to the appointment of Mr Odi Nwosu as an Ambassador while congratulating him and the Founder Engr Ajulu Uzodike for holding the company fort for 40 years.

Speaking earlier the Co founder and immediate past Chairman of CUTIX PLC Amb Odi Nwosu expressed his happiness over the success stories of the company describing the Founder Engr Ajulu Uzodike as a brother and friend whose interest in the company is to creat an avenue for all and sundry to creat wealth through partnership.

“The story of CUTIX PLC in embedded in that trust and I’m the last 40 years I have trusted Engr Ajulu Uzodike and CUTIX PLC and the trust was never misused and want to assure you that yes I am seventy years old now if I am there or not or that I am no more my spirit would remain in CUTIX PLC ”

Also speaking the Founder Engr Ajulu Uzodike noted that “what we are doing today is to say thank you to Amb Odi Nwosu for what he has done for us and the company and when he was in Bendel Cement and I called him to come and join me build CUTIX PLC his answer was unequivocal and he came without collecting salary and when he was asked to start taking salary he chose to invest his salary by buying the shares of the company”

“We are using him to celebrate the 40 years anniversary of CUTIX PLC and celebrating success and if Odi Nwosu thinks that he is done I tell him not yet because he is also going to join me to manage the affairs in the shareholder’s sector of the company,” he said

Sen Victor Umeh representing Anambra Central District noted that CUTIX PLC is a gift to Nigeria in general and the South East in particular adding that in all his dealings he has always patronized CUTIX PLC.

He urged the staff and management of the company not to relent in ensuring that the establishment grows from strength to strength despite the harsh economic challenges.

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