Steady power supply to attract foreign investors – Min

Smith Min, CEO, Lion King Integrated Synergy.

Smith Min, CEO, Lion King Integrated Synergy.

15 August 2015, Lagos – Smith Min is the Chief Executive Officer, Lion King Integrated Synergy, a subsidiary of Lifemate Décor Industry. Interestingly, he is one of those Chinese investors in Nigeria who are committed to ensuring progression in Nigeria-China bilateral relationship, by contributing his quota to growing the economies of both countries.

In this interview with Vera Anyagafu & Vivian Okafor, he advises Nigerian government to solve the issue of power supply and offer more favourable foreign investment policies that would promote foreign investment into Nigeria.

His experience on the job.
My name is Smith Min, and after my graduation, my team and I have taken up the interior design and building construction for 15years. I got my masters degree fifteen years ago in one of the National Key Universities in China and I majored in Construction Engineering. I have undertaken many big projects which have been successfully constructed and our customers speak highly of us.
What informed the concept of King Lion Integrated Synergy in Nigeria?
I want to describe what informed the concept with just one word, and that is, ‘Share’. Our King Lion Ltd is trying to share our excellent quality products and perfect services with local people. We are trying to improve the living circumstance in Nigeria and also show the new International fashion type and taste and how it would be different through professional interior design and construction.
What are the major challenges facing your operation here?
The government’s policy for foreign companies is not good enough. The support for immigration, tax and customs is little. Also, the work efficiency is not fast enough and the power situation is not good either. Essentially, I think the Nigerian government should offer more favorable policy for foreign companies and as well solve the power problem in the country.
What would it take one who wishes to be in your position to attain such?
I suggest they acquire professional skills in building construction and interior design. It is important for them also to understand how to lead a team to taking successful projects that will last the taste of time.
How many factories does King Lion Integrated Synergy have in Nigeria?
We are planning opening a factory here and intend opening 5 more showrooms within 5 years.
Where do you see Nigerian economy in the future and what do you think will bring about lasting solution to unemployment in Nigeria?
I think Nigeria economy will get better and better only if the domestic situation remains steady, because Nigeria is rich in many various resources, such as nature and human resources. In addition, Nigeria should use more of foreign investment, giving more favorable policy to foreign companies.
What percentage of your company’s raw materials is got in Nigeria?
Over 80 per cent of our company’s raw materials are got in Nigeria. It is cheaper, quicker and of good quality, and as such, we prefer getting them from here.
How much does your company spend annually on power generation?
The power situation in Nigeria is not very good. However, the company spends over three hundred thousand naira (N300, 000) per month on power genera-tion.

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