News & Insights

‘How Nigerian firms can bounce back after COVID-19 pandemic’

‘How Nigerian firms can bounce back after COVID-19 pandemic’

A view of the deserted central business district is pictured on the first day of a 14-day lockdown aimed at limiting the spread of coronavirus disease (COVID-19) in Lagos, Nigeria March 31, 2020. REUTERS/Temilade Adelaja – RC22VF961ZXM

A business and management consultant, Dr. Leesi Gborogbosi, has advised business owners in the country to be ready for general aggressive competitiveness in market re-entry after the wave of COVID-19 lockdown. Gborogbosi, in an article sent to Daily Trust where he gave the advice, stated that the companies that would quickly bounce back are those that depended more on local supply chains and home-based expertise. The expert, who premised his advice upon what is happening in other countries, also said the present situation across the world should be a great opportunity for Nigeria and African in contributing to the global quest for health solutions.

“Companies that depended heavily on foreign manpower and multinational consultants are the most disrupted in the present circumstance. Movement of manpower across the border is now eroded. Even then, virtual working across the regions has limitation. Even in our globalisation, distance still matters.” Gborogbosi also advocated: “Encourage local suppliers to develop their capabilities and the availabilities of their supplies. You can adapt the program of Contract Optimisation Review (COR) whereby companies work with their suppliers/contractors to remove waste from the supply chain and create mutual value. Other responsive strategies he canvassed for business owners include the need for them to invest in the development of local manpower, business and finance transformation with strong corporate governance and conduct strategy reviews in order to leverage their brand competitiveness in the post-COVID-19 era. He also advised medical experts and researchers to start researching into the local malaria herbs as a possible solution to COVID-19, having realised that the symptoms of the two look alike.