Wiifarm Woos New Members
Mr. Abdulazeem Abdulazeez is the General Secretary of Wiifarm Cooperatives Society. In this interview with Entrepreneur Excellence magazine, he discusses the opportunities available in his cooperatives and how the public can benefit.
Tell Us About Wiifarm Cooperatives Society
Wiifarm Cooperatives Society was inaugurated to share opportunities with its members in the agricultural sector. We have recognized that Nigerians have been locked down from numerous viable opportunities that exist in the agricultural sector of the economy; that’s why we have together a number of solutions to make those opportunities accessible to Nigerians.
What Opportunities Are We Talking About
We set out to partake in the agricultural sector of the Nigerian economy. Currently, we are most active in the rice sector. We have partnered with Integrated rice mill to procure rice paddy for milling and distribution in Lagos. We bring opportunities to our members in the form of participatory interest where they contribute to a fund and earn a return from the proceeds of the rice paddy purchase and milling operations under what we call the rice paddy aggregation programme.
What Are The Criteria For Membership
The process of becoming a member is so easy. Our membership fee is N1,000 and that entitles you to participate in our investment opportunities, earn from the returns of cooperatives and share from the annual surplus of the cooperatives.
Can We Consider This As An Investment Opportunity For Potential Members
As I have said earlier currently, our partnership is with a milling partner who is going to get rice paddy supply from us, mill and distribute through its distribution networks. The opportunity we bring to the people is just to express interest in this scheme because this is a cash-flow business. Cash flow in the sense that rice paddy goes to the mill, it comes out as edible rice. It goes to the distributors, money comes back, and everybody earns from the share of this process, and this continues to repeat itself. We have made participation in this scheme so easy, as easy as N10,000 per slot. We believe this is an easy entry point against the high ticket offering that is commonly found in the market. We promise our members a monthly return of 2% for 180 days after which their capital will be paid back to them.
What Inspired This Concept
The motivation behind creating Wiifarm Cooperatives is that we as a community can come together and put resources together and achieve things we might not achieve as individuals. There are a lot of opportunities in the Nigerian agricultural sector. We recognize these opportunities and we believe that together we can achieve great things. We can break down the barriers that are hindering people from getting access to opportunities in the agricultural space, and we have proven that by putting together this first initiative. This one will not be the first of its kind in our programmes come up in the future in other sub-sectors of the agric sector. We are not looking at only rice but other crops like cocoa, beans, palm oil, and many more, where there are numerous viable opportunities for people to benefit.
What Are Your Challenges
We have several challenges. Currently, we are still young and trying to bring the numbers together. We believe there’s no challenge that we cannot surmount. The moment we can bring many people, ideas and resources together as a community, we will be able to solve our problems.
What Problems Is Wiifarm Trying To Solve
We are trying to solve food sustainability problems in Nigeria. We believe that when we come together as a community, we can contribute to solving the huge gap in food insecurity and food sustainability in Nigeria. We believe we can build the huge amount of resources that is required to produce what Nigeria will eat and even for export. So, these are the values of Wiifarm Cooperatives. We pride ourselves on the value of community, self-help, and self-sustenance, and this is the bedrock of all the programmes we roll out and the activities we embark on.
What Encouragement Do You Need From Government
In most cases, Wiifarm Cooperatives is not looking directly at the government. We are looking directly to the Nigerians to come and join this laudable and viable initiative to ensure we gradually roll out our solutions. We believe that government cannot do everything for its citizens. The citizens also have the responsibility of coming together to innovatively solve their problems. So, we rather call on Nigerians to join hands with us to solve the food sustainability problem and, in the process, build sustenance for themselves.
How CBN Policy Frustrated My Efforts – Edward Akinlade
Edward Akinlade
Mr Edward Akinlade, the Group Managing Director of Haldane McCall Plc is a seasoned entrepreneur who has built a reputation for his unwavering humility, remarkable generosity, and unrelenting commitment to hard work and persistence. His outstanding achievements in the Nigerian real estate and hospitality sectors are a testament to his exceptional business acumen and unyielding spirit.
In this exclusive interview with Entrepreneur Excellence magazine, Mr Akinlade revealed how government policies have had a crippling effect on his business. Despite the challenges he has faced, he remains passionate about entrepreneurship and a strong advocate for Nigerian youths to embrace the spirit of enterprise and seize every opportunity to succeed.
Introduction
My name is Edward Akinlade I am the Group Managing Director of Haldane McCall Plc, based in Lagos. We run two key operations, we are into hospitality and real estate.
Has Haldene McCall replaced the brand Suru group?
Yes! We needed to list our company on the Nigerian stock exchange, so we wanted a name rather than just being local but more international; that’s why Suru was transformed into Haldane McCall Plc.
Did you consider the fact that the Suru group is already a household name in Nigeria?
No! We have not removed Suru; as I have said, Suru Express Hotel is still there, Suri Homes is still there, and people know us in those areas. Suru itself does not do an operation, it doesn’t buy, and it doesn’t sell. What does the business is Suru Express and Suru Homes. So, it’s only the holding company that we rebranded as Haldane McCall Plc.
Tell us more about your listing on the Nigerian stock exchange
Well! It’s a process that we have been in for over 3 years. It’s one of those cases of failures and retries. You fail and continue trying again and again.
When I came to Nigeria in 2006, I decided that I was going to borrow money that set up this operation and after a few years I was going to list on it the Nigeria Stock Exchange, I should have done this in 2006, but by the time I was ready, Sanusi Lamido became the CBN’s governor and he killed the Nigeria stock exchange and that was my first failure in 2010 and 2011 because we couldn’t do it.
In 2013, I packed my load, went to Germany and got the company listed, but the German authority said they didn’t want any more open markets, and you have to do a full listing. Like in Nigeria, you have a secondary market and the full listing, so, the German authority closed down the secondary market.
In 2014 and 2015, we decided to do it again through Real Estate Investment Trust. We started, but the election of Jonathan and Buhari killed it.
Our main objective is to have a global impact. Particularly, to have a chain of our hotel and real estate businesses all over Africa.
The other one for us is to have access to funding. We are not doing an IPO; we are doing listing by introduction, and then later on, we come up with the bond programme. We will use that as an opportunity to speak to our friends worldwide to partner with us.
What should potential shareholders be expecting?
Well! As a shareholder, expectations are in folds – dividends and capital growth, evaluation and also bonus issues. Most companies in the Nigerian stock exchange are not paying any dividends. We have a dividend policy of a maximum of 30% of the shares of our net profit will be distributed among shareholders consistently. Since I have been operating this company we have always come up with profits. As we perform very well our share prices will go up, and capital appreciation.
You have achieved this much in just about 15 years in business. What is the secret of your success?
Well! It is a combination; the main one for me is the grace of Jesus Christ, which I depend on for success because, in Nigeria, you can know everything. If God is not with you, you’ll fail. We have had so many degree holders who have failed over the years.
Secondly, my experience. I grew up in the city of London. I have worked in real estate in the city of London. I have worked in the bank in London, and that is what I brought to the replicate in Nigeria. Also, I am a chartered accountant both in the UK and in Nigeria. So when I’m making any investment decision first thing that runs through my mind is cash. Is there profit at the bottom? If not I’m not going to do it. So it is the combination of all that that makes what I do stand out.
Are you fulfilled today as an Entrepreneur?
No! There can be more, I can still do more. The original business plan for this business was to have the Suru Express brand all over Nigeria and to have Suru homes all over Nigeria, but we have not done that, the reason for that was that Sanusi Lamido made cash scarce; the recession came; covid 19 surfaced, but hopefully we are still here. We will continue pushing. So, I will say maybe 10% of all that I want to do is what I have done.
The low-income earners in Nigeria are facing a big challenge in terms of accommodation affordability. How can this be addressed?
Well! It is an area that we have looked at carefully. I remember in 2006/2007, a report came out regarding the Jakande housing deficit of about 16 million. Now you can see the influx of people in Lagos at the moment, you can see the rent that they are not affordable to any low-income person. We have looked at it carefully and we came up with the idea that our government needs to change its style. We have been doing the same thing, we are not getting the result, and we need to change the style. So, we suggested to them to give the land we will build with our own money and give the government back some units, we will sell our own and make a profit, while the government can then rent or sell their own to low-income earners. That does not cost the government anything, also, it doesn’t cost anything. It is a win-win situation. So, imagine if the Lagos state government brings land and calls maybe about 1000 developers and says here’s the land, fo and build, and when you finish, give us some finished homes back. Imagine if that is done all over Nigeria. Lagos state government doesn’t need to be building homes. All of what we see today is just to create opportunities for the boys.
Have you ever proposed this idea to the government?
Well! Not directly, but the idea is out there. We have done so many press interviews on it over the years even though I haven’t proposed to them officially. The idea is so simple and noble that during the days of Fashola, he was thinking about it. Remember Fashola was the Minister of Housing for 8 years. He spent 4 years thinking of the type of units he needed to build all over Nigeria. That’s a waste of time. I
don’t think Fashola built one thousand units throughout his 8 years in office as minister. For the current minister, we haven’t seen what he’s up to. We haven’t seen anything. Don’t also forget that we have a Real Estate Association of Nigeria that these people are supposed to be tapping into.
Does anybody need to tell you what sort of homes are needed in Lagos, Kano and other cities? Why are you wasting time for 4 years telling us you cannot build high rise or bungalow in Kano or Lagos? Our Politicians know all these things but FAAC allocation is blocking their eyes.
Won’t it be a good idea if you officially propose the idea to the government?
Well! You just made a view, we will look at that after our listing. We will go to them, here is our money, give us the land for free, when we finish building, we will give it back to you, but, as I said, I know what I’m going to face because our Politicians are not interested in that.
Some developers use substandard building materials just to make excess profit without considering the lives of the people. What is your opinion?
You discover that the developer may not be at fault. Remember the case of Lekki Garden, which is a combination of developer, builder and engineer; they wanted to pile more to a land that cannot carry more than 4 or 5 floors. Also, the history of all other buildings falling. So, it is whoever is doing the construction that should be held responsible. In some instances, you are not doing the piling you are supposed to do, while in some instances, you’re not doing proper foundation, and in some instances, you can only do 3 floors, but you end up doing 7 floors. So, it is a combination. Another thing is that you contracted a developer to build a house for you say about N15 million per unit, and the builder is now asking N30million and as you can understand that prices of all materials have gone up, even sand that is local, the seller will tell you that they are using diesel for their truck. Diesel today is around N1,100. So, you can see that everything you want to use in construction has that impact of inflation into it.
When we started to develop the the 34 units we are building in Ketu, we were supposed to sell for N35m when the builder told us it was going to cost us N15m including all other costs. Our profit would have been between N5m to N10m per unit, but the contractor came back to inform us that we cannot build at N15m again and that he would only do it for N30m. So, we looked at the cost and agreed because everything in the market has gone up to about 300 to 400 per cent. So, our price of N35m is now N50m in the market. You can see that inflation has affected everybody. Now, if you ask the contractor to cut corners so that we can still do for N15m, that means that you’re looking for a building that will fall or have substandard finishing.
Recently, the Lagos state government demolished structures claimed to be built on illegality; what is your take?
Building laws must be followed. Over the years, we have cases of ‘Omo Onile’ selling lands that do not belong to them or the lands that the government has not released. So, the root of all those things is illegality. If the Lagos state government sold the land to you and you built it with approval, will they come and demolish it? No! But if they do what will happen to you is that they will compensate you.
My advice to the people is that before you buy land, investigate very well; property without a title is a no-go area anywhere in Nigeria because the government can just wake up one day and say they didn’t give you a title, and your building will be brought down, also, get your building plan approval.
Lagos state also has a problem in the sense that building plan approval is taking ages. In the UK, building plan approval takes a maximum of 8 weeks, but in Nigeria, it can take as long as a year.
To achieve this, Lagos state needs manpower. If the population of Lagos is about 20 million, don’t expect number of the houses to be less than 10 million. You can imagine how many applications are coming on a daily. So, the Lagos state government should employ more people.
We’re about to commence development in Owode at the moment and the Lagos state government said that before could give us the approval we need to go and pay a new levy called IDC, an Infrastructural development levy that used to be paid only in the high blown areas like Ikoyi, Banana Island, Ikeja GRA, etc for massive infrastructure has now been introduced in the low-income areas. The meaning is that for any number of units you want to build you will pay about N500,000. I’m not even talking of planning fees, that is, if you’re building a block of 4 flats, you’ll pay about N2m additional.
What are your challenges?
We have faced a lot of challenges over the years; some you can deal with, and some can be overwhelming. The biggest one in business is multiple taxation. Taxation right, left and centre.
Recently, President Tinubu set up a committee and came up with over 200 different types of taxes that businesses are facing in Nigeria. Now, they are working to make it a single digit in number. Another one is the issue of interest rate. Nigerian banks must charge you up to 30 per cent of you’re borrowing from them. In the advanced countries maximum is 5 to 6 percent. If you’re using the money for social infrastructure like homes, you’ll get it even cheaper. We have issues of staff not being properly trained, when you train them, they run away. Rogue staff who want to steal your money rather than work. We have issues with FX, as I said earlier. Cost of construction. Competition from the people who are using corrupt money. You came to the industry with stolen money to compete with the people who brought their hard-earned money.
How would you rate the hospitality sector in Nigeria?
Well! It was growing and Covid came and slowed down everybody. But, now, activities are back in the industry. So, I will say that as Timubu’s government settles down we will start seeing the impact of the Renewed Hope policy. The hospitality industry, particularly in places like Lagos, Abuja and PortHarcourt, will grow. It is a growing market and a lot of people are also coming to invest in the sector, but survivors are the specialists in the area. Some will just want to dump money, build hotels and put one charlatan man to run it. In our organisation, we have professionals who run our operations. So, hospitality is an industry I will encourage serious players to join, it’s indeed lucrative.
If you’re opportune to meet the President, what advice would you offer to him regarding the present economic situation?
When I meet him, what will be in my head is that Nigeria is broke, just like the NSA has said, so I will offer him some words of encouragement. Remember, he said he’s ready and that’s why he applied for the job. But, the challenge is that there’s no money to meet the needs of Nigerians.
In the short run, things will be difficult, but in the medium or long term, there will be light at the end of the tunnel. I am assuming corruption does not come back to come and take it away. Like we have an issue of fx, there’s no short-term solution. The solution can only be in the medium and long term. Remember also that the Fx problem is not just about the physical dollar, it’s more about people’s perception. If people are confident that this administration is going to perform the money in the hands of Nigerians all over the world can transform this nation, but they have lost hope. They would rather say oh! If we bring this money our leaders will squander it on unnecessary projects like refurbishing their homes, expensive cars, increasing their salaries and many more. So, if I meet the President, I will tell him to cut costs; I will tell him to change the perception of the people. You don’t need to go about borrowing money, just cut all those excessive staffing and ministries, but instead, he’s increasing them, so there won’t be a solution.
What is your advice for young Entrepreneurs?
My advice for them is that nobody makes money by working for someone else. The Bible says that there is time for everything. Our youths should spend time learning, getting experience and then setting up their operations and helping to employ the unemployed in Nigeria. Don’t be looking for work because there’s no work anywhere.
How I Lost 500, 000 Dollars – Saheeto
After several attempts, I finally secured an audience for an interview with him. I did everything I could to ensure that nothing jeopardized this opportunity. He is a bit difficult to see, not for any particular reason, but because of his busy schedule. Otherwise, Honourable Saheed Kekere-Ekun, widely known as Saheeto, is jovial, respectful, accommodating, lively, and generous.
On the day of our appointment with the king of Small Chops, I denied myself several things to ensure I arrived on time. I also managed to navigate the notorious Lagos traffic congestion I encountered on the way. A few minutes before our scheduled meeting, I arrived at Saheeto Place on Lewis Street in Obalende. While waiting in the front office to be attended to by the multiple-award-winning entrepreneur, I couldn’t help but admire the beautiful, world-class interiors of his office. The professional demeanour of his staff made the entire office atmosphere inviting and enjoyable.
After a brief wait, the Initiator of Finger Foods in Nigeria entered, and it was clear that he exuded motivational energy. I quickly utilized the few minutes he had allocated for the interview, as it was obvious he had a lot on his plate. Please take a moment to enjoy the excerpts of his interview with Entrepreneur Excellence.
Introduction
My name is Saheed Kekere-Ekun, popularly known as Sheeto worldwide, the founder of Saheeto Group Incorporated, United States, Saheeto International Limited, Saheeto Catering outfits, Saheeto Suites and Hotels and Saheeto Investments. I have been in business for about 30 years.
What Inspired You Into Small Chops Business
Before my offer to the higher institution of learning, I saw a colleague of mine with Forty naira; then, it was a lot of money; at the time, I was taking 30 kobo to school. I was curious to ask him where he got this huge sum of money from, he said he was waiting and I asked what was he waiting for, he said he was a Waiter and I said to myself that I better join this waiting for a thing too, in as much you are not stealing, so, I started the waiting job and the rest is history. So, that is what brought the inspiration. Number two is because I wanted to survive. Initially, It was just for survival, to be able to attend to my basic needs and to further my education, not knowing it was going to be a good turnaround and going to be my life. I thought I was going to do it part-time, but when God has His way, nothing one can do. I wanted to be a banker or a lawyer, but, God said Hey! Boy! That’s not your way. So, initially, it wasn’t a planned journey, it was a called journey. God called me and that’s why I followed my path. I thank God Almighty for what He gave me, the vision and everything.
What Are Your Initial Challenges
When I started, there were a lot of challenges like the fear of the unknown. When you are starting a business, you don’t know where it is going, and then there is the fear of failure. Another one was that you are new to the society, you are new to the clientele, they don’t know you, they won’t trust you as such. Then, I was going from house to house, but God has always been on my side with referrals; when people referred me to their friends and families, that’s how I started. Remember, there were no phones then, only landlines. No financial support. One-man business. No staff. No proper coordination. All those things were not there. So, those were the initial challenges. There were a lot of trials and errors because I was just trying to succeed, but in all, I thank God for those challenges because I put them together to make my strength. When you have challenges, put them together, and don’t run away from them. You face them, study them, look at what you have done wrong, and you should improve on it.
Saheeto Small Chops Is a household Name Today, Tell Us Who Has Not Eaten Your Small Chops
Even newly born babies I am sure they must have eaten it somehow right from the womb. I thank God Saheeto is now a household name; by now, I am supposed to be collecting royalties, but we thank God. God used me to invent a small chops business in Nigeria in the 1980s. Nobody knew of this. Do you know how many jobs that have been created now? Do you want to talk about the opportunities for the new entrants, opportunities for the new business owners and all that, in all, I thank God Almighty.
Talking About Creating Job Opportunities. What Is The Size Of Your Workforce
We thank God. We have a fleet of businesses, like I told you: we have hotels, we have catering, we have real estate, we have investments. So, the workforce is relatively big; we have both full-time and part-time staff. I mean, coming from one theory when this man was just standing alone by himself over thirty years ago. Now, we thank God and we will keep thanking Him and working harder.
Are You Fulfilled Today As An Entrepreneur
Well! Thank God Almighty that you are a fulfilled man because when you can take care of your needs, you know, human needs are unlimited. You have to look at the hierarchy of needs until you get to self-esteem. So, from one ladder to another. From one step to another, although I am not there yet, there is still a lot of work in progress.
As a Christian, you have a fulfilled life, most especially when you get to a certain age. Everything is not money, you have to look back at where you are coming from. Those days, I couldn’t afford some basic needs but now I can afford whatever I want. But, in business terms, we still want to touch everybody’s life, so I want to tell you that we are not fulfilled in business; we are still going bigger until we get there. Until we are number one in the world in providing finger foods, that’s our vision. At least in every part of the world you go to, you should be able to see small chops; it might not necessarily be from me directly, but if it is small chops, somehow it’s Saheeto. It is not how much money that is coming to your pocket, but, how many lives you can touch. So, directly or indirectly, if that can be done, it’s part of our mission, and God Almighty will guide us there.
What Is Your Biggest Disappointment
There are a lot of disappointments in business; friends will disappoint you, and business associates will disappoint you. Those days, I would work for people without being paid. But, the one I think was the biggest, and I need to mention it because whenever I flashback, it still pains me; it was when I had a catering contract to cater for a political rally across Nigeria; the job was going to about 500,000 dollars. So, I was giving about 40,000 dollars to start with, and all of a sudden the job was cancelled after the second supply. That was my biggest disappointment ever since I have been doing business. It was early in the year, and you can imagine when you get a 500,000 dollars worth of contract early in the year, and you lose it, I tell you, that will torment you throughout the year and even many years after. So, that’s on the financial aspect. On the human capital aspect, it was when I lost my staff in a car accident. That year, my staff were coming from Ibadan from a job, and they were involved in an accident, and their vehicle caught fire; I lost them. It was a very bad experience. I pray it never happens again.
Your Advice For The Young Nigerians
A lot of our young ones don’t want to work; they want to do Yahoo and all that. Perseverance is very important. A lot of them don’t have patience, they want quick money. Imagine when you are 25 years old and you want to drive a Phantom, so tell me, what do you want to drive at the age of 50? There should be stages in life. For the new business entrants, get to know that the first thing is fear of God. Whatever you want to have let there be fear of God. You don’t need to cut corners. The second one is determination to survive, you have to be courageous. There will surely be disappointments, and the third one is whatever you do, you have to do it well and make people look for you wherever you are, even if you are in a hole. I remember when I started, I was living in one local area and people were coming there to look for me. People knew what I was doing was great and they wanted to see me. I started a small chops business; there was no other small chops business in Nigeria; I started this business not only in Nigeria but in West Africa. I am not only the small chops king but the Inventor, the Initiator of finger foods in West Africa. The opportunities a lot of them have now I never had as the creator. Just like musicians, the ones that founded music, where are they? They might not make money like the younger ones who took after them. That is life; it’s in stages, some started, and some will take it to another level because it has to be continuous. So, whatever you do, do it well, be prayerful, be focused and be consistent, the sky will be your starting point. The young ones should be steadfast and know that miracles don’t come just in one day, you have to work for it.
Your Advice For The Government
Government needs to encourage small and medium businesses; it’s very key. When you support and fund those businesses because they are the heart of the economy. When there are small businesses there will be little pressure on the government. So, the government needs to support them. There should be accessibility to loans. There should be a proper credit check and all that. You don’t have to go through hell before you get support from the government or the bank.
Why I Dropped Out Of School To Learn Mechanics – Onwuakpa
Dr Obi Onwuakpa is nothing short of a trailblazer in the Nigerian financial landscape! As the dynamic Chairman of Goodgate Group and a co-founder of e-Barcs Microfinance Bank, his journey is a testament to the power of determination and hard work. With a wealth of experience as a director in various organisations, his impressive accomplishments undoubtedly piqued my interest in this interview.
What a revelation it was to spend time with the Ojichukwu of the Ukpo Kingdom! Our conversation unveiled the many layers of this extraordinary individual. He exudes joy and warmth, paired with a deep-rooted patriotism for Nigeria. A true optimist at heart, he’s incredibly accommodating, humble, and refreshingly open-minded. To top it all off, he is proudly an ordained Pastor.
During our interview, he shared fascinating insights about his early life, his perspective on President Tinubu’s administration, and his inspiring vision for a thriving Nigeria. It was an enlightening experience that left me eager for what lies ahead in our nation’s journey!
Dr Obi Onwuakpa
Introduction
My name is Dr Obi Onwuakpa, the Ojichukwu of the ancient kingdom of Ukpo in Anambra. I am also an ordained Pastor. I was born a little over sixty years ago in Enugu. I went to Enugu State University, where I had my first degree in Insurance, including my master’s degree in Human Resources Management. I worked for several companies before I started my own.
Were you born with a Silver Spoon in your mouth? Tell us about your early stage in life
I wasn’t born with any silver spoon, not even with an iron or a wooden spoon in my mouth. Growing up was tough and rough. My father, a great man, had nine of us. I was in class 4 when he passed on. Things became so difficult, being the sole breadwinner of the family. When he passed on, people insinuated that it was finished for the family, and indeed, it was tough for us, and it was almost finished, but we thank God, God helped us. It was so tough that I had to drop out of school to learn mechanics, but, thank God, at last, I was able to furt her my education. I passed out and worked for several organisations before setting out my own. Today, I am a member of several professional bodies at a fellowship level. To God be the glory.
As a board member of several organisations, are you fulfilled?
Well! Looking back on where I am coming from, I remember those days, while helping my mother in fending for the family, I had to trek about 40 kilometres every day to sell plantain before going to school.
So, fulfillment may be relative. For me, the fulfillment I have is not the things you can see; my fulfillment is that I received Jesus Christ as my Lord and Saviour. I am fulfilled in Christ. If you’re looking for fulfillment in material things, even some of these politicians who are moving with billions still act like they have nothing. Their pursuit of money is still very aggressive. So, you can’t get fulfillment in anything.
What is the biggest bold step you ever took?
The biggest bold step I have ever taken is giving my life to Christ. I remember those days when I moved to Lagos from Enugu. Those days in Festac, every Sunday was drinking and partying; it was women and all of that. So, this day came when a young lady came around and preached to us. None of my friends wanted to listen to her. But, I don’t know what came over me that day that I just gave her attention. She preached to me and invited me to her church, I went to the church, a Cathedral Church. Panam Percy Paul was ministering that day. So, when it was time for the alter call, I went and gave my life, and that’s the biggest bold step of my life.
What qualities should one possess to build a successful business?
First and foremost, you should be able to understand the business you want to do. You should have an appreciative knowledge of the business you want to do. You have to have integrity, be trustworthy, and be straightforward; your yes must be your yes, and your no must be your no. Maybe I am mentioning these qualities from a Christian perspective. Of course, there’s no other way to go as a Christian businessman. If you’re crooked in business, you won’t go far. Just like the bible says that your sins will soon find you out.
There are cases of businesses liquidated after the passing on of their founders. How do we build a business that outlives us?
That’s unfortunate. It’s still happening, even till tomorrow. Recently, I drove through Surulere and I saw one of the hotels that were thriving those days owned by a famous musician. The hotel has become dilapidated. Mind you, I am just using this as an example, there are a lot of businesses like that.
To avert such things, I believe when a business begins to grow, you look for staff who have contributed to its growth and are still employed by the company; you can give them some shares of the company and make them part of the owners of the business. It is not good to run a sole shop where people just come and earn salaries. Somebody working in a company for 10 years to 20 years should become a part owner. Look for like minds, partnerships, and joint ventures. Companies that are going down are the ones who run a sole shop. Many big companies are still running a one-man show business. When you give people shares in your company, even if you are no more, others will be alive to carry the business.
You are a role model to many; who is your role model?
I don’t know of any role model. Maybe, you know of anyone and what we have in common. But, all the same, I am just trying to live a simple life, a life that glorifies God. Each day I wake up, I say, God, let my life bring glory to you.
Anywhere I stand, I walk into Aso Rock, whatever meeting, you can be anybody; I tell them where I stand. So, my role model is Jesus Christ. I want to do as much good as my capacity can do. I feel like everyone who is in dire need comes across me, and I’m able to help. Don’t mind the abuses people bring into it these days. I want my life to pleasing to God.
What is your biggest loss ever?
When I left paid employment, I remember with some nostalgia, a friend of mine just came to me and introduced me to oil and gas business. I knew next to nothing about the business. Can you imagine investing about 200 million Naira in a business I knew nothing about? That was about 15 years ago. It’s only God that has just sustained and kept us going. Maybe if I was as old as I am today, it would have resulted in a terrible situation. But, thank God, we were still young then.
My wife and I never knew things that are involved in the oil and gas business; we just took the money and invested in it. It was really bad, and that’s why I always insist that before you venture into any business, forget who’s doing it and the way it’s flourishing. You need to understand it. Sit down and study it. Ask questions about the business you want to start.
How do you relax
Holiday is good; taking time off from work is good. A few minutes before we started this interview, you overheard my wife during our phone conversation asking me to take time to rest because I just came back today from a trip, and I’ll be off again tomorrow for another trip. For me, every Monday, I go off work. I do one on one with God. I rest. Before, I used to switch off my phones just to be alone. I also go to the Airport and spent about 3 to 4 hours relaxing in their lounge.
How has the present economic situation in Nigeria affected you?
It is a tough situation for the people who are into genuine business. It is affecting the manufacturers, it’s affecting my own business. The Central Bank’s policies, NPR, have moved up. Most people are not able to borrow. What business will you do to be able to pay back? The Naira has been devalued. Our value as a business has been devalued also. If you were worth 10 million Dollars last year, what is your worth now? You’re not even worth 1 million Dollars this year. So, it’s a tough situation. It’s only God that can take us out of this wood. Maybe those in government now are saying that they are not the cause of this problem, I always say that if your boat is going the wrong way or people before you have been going the wrong way when you get on to the boat, the best thing to do is to turn and begin to go the right direction. But, if you’re still heading the same way people we are blaming were headed, you didn’t reverse, then there’s a problem. Well, let’s be hopeful and see what will happen before the end of the year 2025; I pray God will help us in this nation.
Do you believe that there will be light at the end of the tunnel regarding President Tinubu’s economic policies?
Well, let me not even narrow it down to President Tinubu, because it’s not even about Tinubu. I remember the story in Samaria; it wasn’t about anybody, but it was all about God. A town where women were killing their children and sharing as food, and the Prophet of God said by this time tomorrow things will turn around for good. It wasn’t anybody’s policy, it was all about God, and that’s why I still have hope in this country. I’m not against this government, but, when I go to Abuja, I see the carriage, the posture, the language. Recently, I met one of our leaders at the Airport; if you see the way he arrogated himself, he raised his shoulders, and he carried himself as if he were a god. About 15 Policemen were attached to him. This is just one of the President’s lieutenants, and there are many of this kind working with him. That’s why I said it’s not all about Tinubu. For crying out loud Tinubu will not be everywhere to see what these people are doing. So, I went to the Policemen and asked them if they were all there guiding just this one man. The policemen began to laugh and told me that they were going to where they were asked to go. So, President Tinubu is doing his best, considering his age. There’s a limit to what he can do. People around him should put in their best and make him succeed. Remember Moses, the bible says that when those men lifted the hand of Moses, they had victory.
The democracy we practise in this country needs to be reviewed. It shouldn’t be all about a single person. There must be decentralisation. In Nigeria, governance is too attractive, let’s make it less attractive. I went to my village the other time, come and see how my people were struggling to become local government Chairman. One even said that we are now autonomous, and the money will come to us. So, I said, is it money that you’re looking at or the service you’re going to give to the people? Sometimes I feel like talking to these politicians, this life is too short. You pile up all the money, buying properties at home and abroad. Riding the most expensive cars. Keeping money for your kids that you won’t know what they will turn out to be after you have passed on. What we are telling you is to affect lives when you’re in office. See it as an opportunity to render service and not an opportunity to make money for yourself. Well! I see light at the end of the tunnel because we have hope and trust in God. Our hope is built on nothing else, but, in Jesus Christ, our righteousness. How I wish the government would declare a day of national prayer in Aso Rock. Solomon asked God for wisdom to rule over his people. So, in that manner, if people in the Aso Rock pray and ask God for wisdom to lead over 200 million Nigerians in the right way. If they are not praying this prayer, then we are not going anywhere. Things are very tough, there’s hunger in the land. If you know the number of phone calls I receive each day. Issues upon issues. Driving around the streets, you will see hunger on people’s faces in our land, which is so blessed. The Bible says when the righteous are in power, people rejoice. We have never seen it this bad; people are suffering.
If anybody told me that the Dollar would be exchanged for five hundred Naira, I wouldn’t believe it, but look at where we are today. One Dollar exchanged for One thousand, seven hundred Naira.
My tenant, who is from Cotonou has abandoned tiling work, he said to me, Oga, I now buy things from Nigeria, take them to Cotonou to sell and change the money to Naira. So, I said to him that I have a tiling job for him and the guy said no, I’m not doing tiling again. And that is how bad our situation is presently.
What is your advice for Nigerian youths?
Some time ago, somebody advised them that if they had an opportunity to leave the country, they should. But, I can tell you that it’s not easy out there too. Where you can have some sense of relief is when you have some relations there who can give you a soft landing. However, the Naira has been devalued; a Dollar exchanged for one thousand and seven hundred Naira, so if you’re able to make a thousand dollars, that will give you one million and seven hundred thousand Naira. You can see some of them are bringing in money to do one or two things. So, my advice for the youths is if you can stay here, work hard, and put your hope and trust in God. Find a legitimate service you can render to the people. Those youths into IT, programming and so on are making good money. Also, if you have the opportunity to go abroad, you can go, acquire some skills and come back and practise it here. Don’t get into crimes such as cyber crime and others. How I wish those guys indulging themselves in those crimes divert their knowledge into something legitimate, they’ll still make it gradually. And finally, give your life to Jesus Christ, and allow Christ to lead you. The Bible says that there is an end to a matter. Stay out of trouble.
