I have an offer: Minerals in Nigeria!!

George Mtonga | June 20, 2008 - 5:48 pm

Tags: business, Money, Nigeria, United States

 

"Business Not As Usual"

 

I'm sitting at a restaurant in Harlem and there comes my  friend saying he was just given a proposal to get some cash out of Nigeria and make "300 percent" profit. Obviously the "too good to be trrue" framework comes into play. He  brings me the papers and I look at the logistics and the intended operational activity and the whole thing is a shum. The gentleman was proposing mining in Nigeria for Rhodium, a mineral that is ahigly lucrative, but he didn't do his work properly and gave fallacious documents regarding the market worth of the mineral. In addition, he only provided  provided the idea that Rhodium is a good go in Nigeria without  looking at teh potential costs of the venture in terms of the risk associated with the whole thing!!

 

Why i'm I writing this. Well, because I want to fret!! This is not what I call business and this what i  censure even when I went home. Business without protocols, without regulations looks like the above. And when i speak of regulatiuons I mean a formalized way of doing things such as having a company email, office, chain of management, without that the whole thing is nothing but freaking nuts!! I'm totally against this and very unhappy with the position a country such as Nigeria occupies!!!

 The guy who was offered the venture is a restaurant owner, very nice.  But i know that he is strapped for cash and trying to stay above water thus making him vunerable to these  guys.  Minerals  in africa are there; and it is one area of business life I actually would advocate nationalizing because trhe private sector does not seem to know how to deal with this business very productively. It sickens me. The purpose of business is to forces innovation, to force ingenuity and force structural progress which often is seen as a business need. I do not see why these guyts can't view business like that!!!! They give a bad name to business as well as those of us, who are Africans, and are engaged in business with the continent!!!

 That is why international laws should also be implemented because we can't deny that in africa, the national governments are very money-attracted and wil compromise the integrity of government for a few dollars!! This is just pathetic and they give a bad name to the whole system. International laws can put these guys in check. Under Nigerian law or international law, the proposed business by the guy from Niigeria would no legitimacy; but the guy from the restaurant did not know at all!! This is just wrong!!!