Nigerian businesses deserve tax rebate – Nnazor, CEO, Ken-Benz Auto

Chikelu Luke Nnazor is the Vice President of Berger Business Community in Lagos and Managing Director/Chief Executive Officer of Ken-Benz Auto Limited. He spoke with Dada Jackson on the impact of the fluctuating exchange rate on business, among other topical issues

What exactly do you do at Berger Suya Heavy Trucks Spare Parts Market?

We sell spare parts mainly for heavy duty trucks and marine equipment. In addition, at the Berger Suya market, we don’t sell spare parts meant for saloon cars or SUVs but only for heavy duty vehicles. Some people have asked me if we sell Suya (roasted meat) and I tell them emphatically that we do not sell such things here. Also, the difference between us and those at the Ladipo spare parts market is essentially in the weight of the kind of spare parts we sell here.

Why did you choose to go into the sale of heavy duty vehicle spare parts and not the saloon or luxury cars?

Let me say that it runs in the family. For instance, you would see a doctor, lawyer, or engineer whose children take after them Even some military men want their children to be soldiers. But to answer your question directly, one of my relations introduced me to the business. It might interest you to know that for you to learn the business, you would spend at least seven years. Another interesting thing about learning this business is that any body who is interested in learning this business must have passion for it. It is not about the amount of money you have but the knowledge you have for the business. Also, it requires little or no capital. Even if you don’t have money, you can go into the business and before you know it, you’ve hit it big. Let me make abundantly clear here that if you don’t have the faintest knowledge of the business and you think because you have money and you dabble into it, you may get your fingers burnt.

What are the challenges that you face in doing this business?

As far as life is concerned, we can’t do without having one form of challenge or the other but what matters is our ability to overcome these challenges. It is important to point out here that any man who in the journey of life has not encountered any challenge should reexamine his lifestyle. In a nutshell, we have challenges confronting us in the course of our business but they are no doubt surmountable. Let me mention here that the major challenge for me is betrayal. How do I mean? A situation where you entrust someone with your goods and such an individual now shortchanges you or refuses to release such goods to you. What more could be a betrayal than this. There are so many challenges but as for me, I put my trust in God; incidentally, that’s our company’s motto.

How has the exchange rate affected your doing business?

Let me say unequivocally that the fluctuating exchange rate has affected our business negatively to the extent that most times we run at a considerable loss. For example, if the rate of the Naira to the Dollar is N450-$1 and you now place your order, by the time the goods arrive in the country and the rate has gone up, tell me what wound be the profit margin; absolutely nothing because what such an individual would be thinking of is how to recoup his money and not about making any profit. The exchange rate of the naira to the dollar is very high and this has slowed down our business activities. In a nutshell, it has done more harm than good to our business. I appeal to government to cushion the effect by giving us tax rebate.