THE GUARDIAN’S SPECIAL FOCUS ON FIFTY (50) VALUE-DRIVEN CEOs OF EXCELLENCE THAT POWERED NIGERIA’S ECONOMIC GROWTH IN 2022
According to experts’ report, inflation in Nigeria is rated to be one of the highest in the world, even before the Russo-Ukrainian War started in Q1 2022.The report also says further increase in inflation is a possibility, due to the rise in global fuel and food prices caused by the war.This has pushed more citizens below the poverty line across the country.1
Meanwhile, regardless of the IMF forecast of a decline in Nigeria’s inflation rate to 19% in 2022 and 17% in 2023, it has been established that investors are expectedly concerned more about the possible impact of the country’s 2023 general election on their portfolios and the capital market.
Thus, amidst political uncertainties and other security concerns, the consequences of this reality are manifesting on the nation’s economic environment and equally devastating on business organisations, whereby not a few have resorted to downsizing, laying off staff in order to cut costs, improve operational capacity, and effectively deliver on set target.
However, despite obvious daunting challenges, some proactive and result-driven Chief Executives have been able to navigate their organizations to optimal operational effectiveness, efficiency, and visibility.These, they have made possible, through the application of ingenious management practices, prudent management of resources, as well as, excellent and innovative solutions and ideas in achieving set goals and objectives.
For defying the apparent harsh economic environment by piloting the affairs of their companies to profitability, these exceptional men and women deserve recognition for their out-of-the-box innovations and enviable CSR interventions that have earned them awards within the country and beyond.Indeed, they deserve accolade in their efforts and contributions to the stability and growth of the nation’s economy.
In this concluding edition in The Guardian 2022 CEOs Series, we present five more eminent personalities whose sterling and visionary leadership qualities and invaluable contributions have further strengthen Nigeria’s corporate landscape and expanded the nation’s economic growth.The row call includes: Mr.
Ambrose Ovbiebo, Chairman/CEO, Tamrose Limited; Josephine Ehimen, Founder/CEO, Nett Pharmacy; Ms.Oyindamola Lami Adeyemi, Executive Chairperson, Still Earth Holdings; Engr.Mrs.Bisoye Coker-Odusote, General Manager/CEO; and Mr.
Kunle Ade-Ojo, Managing Director, Toyota (Nigeria) Limited
How tailored financial solutions to diversified clientele transformed Still Earth Capital Finance as leading African financial institution, by Lami Adeyemi
Oyindamola Lami Adeyemi is a Nigerian entrepreneur of international repute with a wealth of experience spanning Construction, Oil and Gas, as well as Finance sectors.She is the Executive Chairperson of Still Earth Holdings a company headquartered in Lagos, Nigeria, with interests cutting across Construction, Oil & Gas, Financial Services, and collectively represent a commitment to solving key infrastructure challenges, while sustainably improving lives and livelihoods in Africa.
A holder of M.Sc.in Political Economy and Governance, she is an alumnus of the prestigious Harvard Business School OPM Programme who is committed to creating value towards Africa’s development through the Still earth Group’s subsidiaries which include Tirex Petroleum & Energy, Still Earth Limited, and Still Earth Capital Finance.
From addressing power needs and bridging the gaps in basic infrastructure to providing resources that promote financial inclusion, Oyindamola is a steadfast champion of excellence in value delivery.
In this brief interview on her recognition as one of the “Fifty (50) Value-Driven CEOs Of Excellence That Powered Nigeria’s Economic Growth In 2022,”, the quintessential African amazon and accomplished wealth creator spoke to The Guardian on the Nigerian Financial sector landscape vis-à-vis the nation’s business and corporate environment, Still Earth Capital Finance Limited, innovation, the need to grow and support MSMEs in Nigeria, amongst other sundry issues.Excerpts …
An assessment of the Credit and Loans business in Nigeria
The credit and loans business in Nigeria has grown significantly in the last ten years.The credit and loan business has been an important catalyst in stimulating the growth of MSMEs in the economy and contributing to the financial inclusion agenda.
Most of the challenges of the business have gradually been overcome with technology, even though there are still a lot of gaps to be covered.
The Central Bank of Nigeria (CBN) has also laid down an improved system for information alignment between players within the financial system.Previously, it took weeks and sometimes, up to a month to process loans for customers, but today, instant loans can be accessed as customer validation has been made easier with the Biometric Verification Number (BVN) and other digital checks.The credit reporting system has also been improved with the collaborative intervention of the CBN and the International Finance Corporation (IFC) to strengthen the Credit Reporting System in Nigeria a few years back, thus speeding up the credit history assessment for customers.
Furthermore, there has been an increase in the number of fintech operators generally, not just in the business of credit and loans, with most Fintechs primarily focused on payments and lending, according to a McKinsey report (
harnessing-nigerias-fintech-potential).This and other factors have contributed to the reduced financial exclusion which reduced from 46.3% in 2010 to 35.9% in 2020 ( kpmg.Analysis).The current financial inclusion statistics however shows that there is still huge gap, which consequently shows that the access to credit gap in Nigeria is still wide.
Still Earth Capital Finance Limited’s set objectives, achieved milestones
Our goal at Still Earth Capital Finance Limited is to become a leading Pan-African Financial Institution, providing tailored financial solutions to a diversified clientele base.
Since being licensed in 2016, Still Earth Capital Finance has grown significantly.
Even though we have had our share of challenges just like several businesses, Still Earth Capital Finance has set its sights on shattering barriers as of 2023.Some of our goals consist of increasing our clientele by 50%, and using modern technology to improve the quality of our products and the way that we provide our services.
Some of our milestones at Still Earth Capital Finance include providing capital upliftment to a number of individual consumers and MSMEs and have successfully disbursed loans of up to N2billion to them.Other milestones include new products to meet our customers’ needs, new business application (Bank-One) to provide superior and real time services to clients, etc.successful loan disbursement totaling N1.5billion to over five hundred clients, launch of a brand-new Core Banking application.
Our Board of Directors have decades of experience as directors in the banking sector, construction property development & management, oil & gas industry and these diverse experiences are what we believe can drive the goals of our company.
Still Earth Capital Finance’s unique services, innovation, elevating the Nigerian Financial Industry
At Still Earth Capital Finance, we stand out and succeed often because our unique value proposition differentiates us from other competitors in terms of offering specialized financial services, having a unique approach to risk management, utilizing innovative technologies and strategies, and having a strong focus on customer service and satisfaction.
In addition to having a unique value proposition, we often keep up with emerging trends and technologies.This includes utilizing AI and machine learning to better analyze financial data and make more accurate predictions, implementing blockchain technology to streamline financial transactions, or incorporating sustainable and ethical investment practices to meet the growing demand for socially responsible investments.
Furthermore, we prioritize diversity, equity, and inclusion in our hiring and business practices which in turn benefit us from a wider range of perspectives and ideas, which can lead to more innovation and creativity.
Overall, there are many ways in which we at Still Earth Capital Finance have differentiated ourselves and also try to innovate in our field.This often requires a combination of our unique value proposition, a willingness to adopt new technologies and strategies, and a focus on meeting the evolving needs of our customers.
Government policies must support SMSEs, provide loan products to startups, to generate employment
Small and Medium-Sized Enterprises (SMEs) play a critical role in the growth and development of the Nigerian economy.To encourage the growth of SMEs and generate more employment opportunities, there are several policy and support measures that the Nigerian government can implement.
Some of these measures include:
– Access to Affordable Finance: One of the major challenges faced by SMEs in Nigeria is limited access to affordable finance.The government can address this issue by providing loan guarantees to banks and other financial institutions to lend to SMEs at low-interest rates.The government can also establish a dedicated fund to provide equity financing and long-term loans to SMEs.
– Tax Incentives: The government can provide tax incentives to SMEs, such as reduced tax rates, tax holidays, and tax credits for hiring and training employees.This will encourage SMEs to invest in their businesses, create more jobs, and contribute more to the economy.
– Simplified Regulatory Framework: The government can simplify the regulatory framework for SMEs, including reducing the time and cost of registering a business, obtaining licenses, and complying with regulations.
This will make it easier for SMEs to start and grow their businesses, reduce corruption and bureaucracy, and stimulate innovation and growth.
– Business Development Services: The government can provide business development services to SMEs, including training, mentoring, and advisory services.This will help SMEs to improve their skills, increase their competitiveness, and access new markets and opportunities.
– Infrastructure Development: The government can invest in infrastructure development, such as roads, power, and telecommunications, to improve the business environment and reduce the cost of doing business.This will also attract more investment, create more jobs, and spur economic growth.
In summary, to encourage the growth of SMEs and generate more employment opportunities in Nigeria, the government can implement policy and support measures that focus on access to affordable finance, tax incentives, simplified regulatory framework, business development services, and infrastructure development.
Still Earth Capital Finance’s projections, strategy for growth in Nigerian Financial Industry
The merchant banking industry in Africa is expected to grow in the next five years, driven by factors such as economic growth, increased demand for financial services, and technological innovations.As African economies continue to develop and expand, there will be growing demand for financial services such as corporate finance, investment banking, project finance, and capital markets.
Moreover, the rapid adoption of digital platforms and financial technologies (fintech) in Africa is creating new opportunities for merchant banks to deliver their services more efficiently and at a lower cost.
As Still Earth Capital Finance Limited looks to become a leading Pan-African merchant bank, we could benefit from these trends by leveraging our existing strengths and expertise in investment banking, financial advisory, and wealth management services to serve a broader range of clients across Africa.By expanding our operations beyond Nigeria and into other African countries, Still Earth Capital Finance could tap into the growing demand for financial services across the continent, while also diversifying our revenue streams and reducing our reliance on a single market.
To succeed in the competitive merchant banking industry, here at Still Earth Capital Finance, we will need to focus on developing innovative financial products and services that meet the needs of our clients, building strong relationships with key stakeholders, and attracting and retaining top talent.Additionally, we will keep up with the latest technological trends and invest in digital platforms and fintech solutions that can help us deliver our services more efficiently and cost-effectively.
Overall, the outlook for the merchant banking industry in Africa is positive, and Still Earth Capital Finance has the potential to become a leading player in this space by leveraging our existing strengths, expanding into new markets, and staying ahead of the curve on technological innovation.
KUNLE ADE-OJO: Dynamic Administrator, Astute Professional, Setting New Standards in the Nigerian Automobile Industry
Kunle Ade-Ojo, the Managing Director of Toyota (Nigeria) Limited, is a graduate of Mechanical Engineering from the University of Reading and also holds an M.Sc in Automotive Product Engineering from Cranfield University, both in the United Kingdom.
As a Global Management Associate, he worked extensively in different operational departments while at Toyota Motor Sales, USA.He has attended various Executive Management Programmes both at the Lagos Business School and the Wits Business School, South Africa.
He is a Member of Council, Lagos Chamber of Commerce and Industry, a Fellow of both the Institute of Directors of Nigeria and the Nigerian institution of Mechanical Engineers.
He returned to Nigeria as the Business and Strategic Development Manager of Toyota (Nigeria) Limited and rose through the ranks.He was the Executive Director until his appointment as the Managing Director of the Company.One of his outstanding achievements as the Managing Director within his second year of leading the company was seeing to the establishment of the Toyota Assembly Plant in Nigeria and his supervision and test of the first Hiace bus assembled at the plant.
Toyota (Nigeria) Limited was appointed by Toyota Motor Corporation as its sole distributor in Nigeria and it commenced operations in 1996 as a wholly indigenous and privately owned company.In partnership with its seven accredited dealers: Elizade Nigeria Limited, R.T.Briscoe (Nig.) PLC, Omoregie Motors, Germaine Auto Centre, Kojo Motors, Mandilas Motors and Metropolitan Motors Ltd, the company has consistently remained a forerunner and trailblazer in the marketing of Toyota products in the Nigerian automobile industry; focusing on the provision of exceptional services in auto sales, services, and genuine parts.
The company’s facilities and dealership network are spread across Nigeria; manned by a well-trained workforce of about 10,000.The company invested heavily in after-sales service delivery by constructing a global standard Service Centre in Lagos, and also doubles as a DOJO CENTRE, (a Japanese word for a place of immersive or experiential learning), which was commissioned by the Vice-President, Prof.Yemi Osinbajo in March 2022.Here, the company offers specialized services to customers and give on-the-job training to dealers.
Data garnered here helps to gain an insight into market trends to shape and create processes that best serve our customers and dealers.Our other investments are a parts depot, with a storage area of over 5,000 square metres, an assembly plant with two independent assembly lines and a solely body and paint training facility which is one of its kind in Nigeria and Africa.
In its early days in Nigeria, the Toyota brand had to strive for acceptance, particularly in the face of stiff competition from the established brands at the time.Thus, it is worthy of note that the ingenuity and resourcefulness of the board of directors under the indefatigable chairmanship of Chief Michael Ade.Ojo OON, coupled with his vision, industry, and tireless commitment to the brand for over fifty years, paved the way for the acceptance and success of the Toyota brand in Nigeria.
Complementing the hard work of the board is a dynamic management team under the leadership of the Managing Director, Mr Kunle Ade-Ojo, who has set new standards in the industry.This dynamic Administrator has injected renewed verve and a rare sense of professionalism into the entire team of Toyota (Nigeria) Limited.This has impacted positively on the fortune of the multiple award-winning automobile brand as it has continued to break new grounds in the industry to the satisfaction of its customers.
According to Ade-Ojo, “The auto industry globally and by extension Nigeria, is very diverse and has evolved over the years.I got involved in the industry as a teenager at the age of 15, observing and participating in servicing engines, changing tyres, paying keen attention to how customers were being served and so on.I have always been fascinated by the industry, technology, and artistry of making vehicles.
These fueled my passion to study Mechanical Engineering at the Reading University, United Kingdom and later did a Master’s degree in Automotive Product Engineering at Cranfield University, UK.”
He spoke further that “The experience I garnered as a Global Management Associate at the Toyota headquarters in California gave me a broader perspective of the industry and the limitless opportunities therein.I worked in different departments and that helped sharpen my skills in automobile sales, service, and management.I was in my 30s when I became the Managing Director of Toyota (Nigeria) Limited (TNL) and I immediately rolled up my sleeves to put the house in proper perspective.I started by putting our financial portfolio on a strong footing and making sure I cleared our debt burdens.
That gave me room to at least exhale and focus on growing the business.”
In his words, “The company was running on an auto pilot analogue model while the world had gone digital.We had to catch up with the world and that was my immediate focus; to digitalize our processes so we could do business easily and get faster results.Our operations became more efficient and innovative as a result and the company and work environment of staff was better for it.
Some of my contributions to the auto industry in Nigeria and by extension to the Nigerian economy are the auto plant we built at Ikotun, Lagos, our second-to-none body and paint facility at Oregun, Lagos, which is solely dedicated to body and paint training and the only of its type so dedicated to that aspect of automobile business in Nigeria and perhaps Africa.
Toyota (Nigeria) Limited blazes the trail in Toyota vehicles marketing and after-sales delivery in Nigeria, in partnership with our seven capable accredited dealers.We market winning products and own the largest after-sales service network across the country, ensuring excellent service delivery in every facet of the value chain.
Toyota (Nigeria) Limited blazes the trail in Toyota vehicles marketing and after-sales delivery in Nigeria, in partnership with our seven capable accredited dealers.
We market winning products and own the largest after-sales service network across the country, ensuring excellent service delivery in every facet of the value chain.
Essentially, we are proud to be the foremost auto distributor in Nigeria that is significantly contributing to the financial prosperity of our country through human capacity development, employment, tax returns, elevation of the auto industry in Nigeria, etc.
Our goal is to maintain a life-long mutually beneficial relationship with all our stakeholders and customers as we continue to ensure that they remain loyal to us through our delivery of excellent services to them.
“Community pharmacies, key players in Primary Healthcare System” – Josephine Ehimen
She is an extraordinary team leader with excellent problem-solving skills and a firm believer in the concept of goal setting and actualization of set goals.Josephine Ehimen, the Founder and Chief Executive Officer of Nett Pharmacy, is one of the women doing great things in the retail pharmacy space in Nigeria.She is a shining light whose professional and entrepreneurial acumen gives the younger generation renewed hope for a greater Nigeria.
A pharmacist with over 20 years of experience, she has vast experience practicing as a clinical and community pharmacist both within and outside the country.Josephine trained as a Pharmacist in Nigeria and is also a Certified Canadian Pharmacist.
Her desire to promote wellness and healthy lifestyles has meaningfully contributed to making a difference in community pharmacy practice in Nigeria and gave rise to Nett Pharmacy in September 2004.Nett Pharmacy’s culture has always been geared towards health and wellness promotion, as evidenced by many free community health outreach activities, and this has immensely endeared the brand to all its clientele who have been devoted to them for the past nineteen years.
“I would describe my journey into community pharmacy as very fulfilling because this is something I have always wanted to do and something I am very passionate about.As a community pharmacist, I know that I am the first point of call, when there is a health issue and I get the opportunity to interact with different patients on a daily basis, counselling them on the use of medications as well as lifestyle modifications, and I eventually become part of their healthcare journey.“In Nett Pharmacy, we have organically grown our brand presence over the years, from our first store in 2004 to several stores in various parts of the country,” she noted.
One of Nett Pharmacy’s core strengths is its array of services through strategic partnerships with other medical professionals.Some of these services include Vaccination services by certified medical personnel, free health screening outreaches, Community fitness workout programs, health education outreach programs in schools, and Specialist Derma skincare services.
Dogged and driven in her pursuit of excellence, Josephine, stated that the company implemented a strategy that puts the health of their clients as a priority, and this has earned the “trust of their customers over the years.
“In Nett Pharmacy, we continue to strive to bring our brand offerings closer to where our clients live”.Integrity is one of our core values at Nett Pharmacy, so we always strive to provide top-quality pharmaceuticals and services to meet the health needs of our valued customers.As their healthcare demands have grown over the years, we have had to extend our product offerings and services.We are able to do this primarily through collaboration with respected pharmaceutical manufacturers, wholesalers, and distributors.”
She emphasized the importance of the government fully funding universities and the National Institute for Pharmaceutical Research and Development in order to encourage the discovery of new drugs.
In her words, “Research and development in the pharmaceutical industry is very expensive, and it can take years to discover a new drug and obtain the necessary regulatory approvals.Various stories of novel drug discoveries waste away in these institutions because they require funding to progress.With the imminent opening of Dangote Petrochemical Industries, we hope to be able to produce some basic pharmaceutical ingredients locally,”
With the increasing cost of healthcare, more people are now embarking on self-medication with various medications, which could lead to some serious health consequences.As a certified Natural Products Advisor with the Alive Academy in Canada, she stated that herbal supplements are one of those products that people usually use without proper recommendation.
According to Josephine, “Herbal medicines are becoming more popular around the world, and they are usually available in pharmacies as non-prescription or over-the-counter medications.
People are increasingly turning to herbal remedies as self-care treatments for a variety of diseases.As pharmacists, it is our responsibility to educate and advise our communities on the safe use of herbal medicines.Pharmacists must be educated about the indications, dose, adverse effects, toxicity, and potential interactions of herbal medicines in order to provide adequate counselling to patients,” she advised.She did, however, emphasize that the use of all these natural medications must be in line and adhere strictly to Health Agencies’ regulations.
Proffering solutions on how to improve healthcare delivery in Nigeria, she appealed to the government at all levels to invest more in the healthcare system and infrastructure.
According to her, the healthcare system is poorly funded, and public health facilities cannot offer the average Nigerian the guarantee that they can handle common emergencies.“The current brain drain in the health sector doesn’t also help matters as medical doctors, pharmacists, and nurses are leaving the country daily for greener pastures.If the National Health Insurance Scheme is well funded and fully operational like in other developed countries, things may change for good.
Secondly, community pharmacies should be regarded as key players in the primary healthcare system and should be actively involved in activities like public health promotion, vaccination, National Health Insurance Scheme, centers for point of care testing for minor illnesses, and many more.This is because the community pharmacy is the first port of call for some patients when there is a concern with their health”, she advised.
The integration of community pharmacies into the primary healthcare system may translate into better access for patients to primary healthcare services, contribute to cost-effectiveness, and promulgate the sustainability of the healthcare system.”
Josephine holds a Bachelor of Pharmacy degree from the University of Benin and an MBA from Eaton Business School, UAE.She is a cohort member of the Growth Institute, Austin Texas CEO’s Program, a certified coach, speaker, and trainer with the John Maxwell Leadership Team, a Fellow of Vital Voices Global Partnership, an alumnus of the Lagos Business School, and a mentor at WIMBIZ (Women In Management Business and Public Service).
She is a recipient of a couple of recognitions and awards some of which are the 2019 Inspiration Award by Pharmalliance Group, the 2021 Distinguished Pharmacists Award by the Association of Community Pharmacists, Trek Africa 2022 Pharmaceutical Personality of the Year, and the University of Benin Alumni (Lagos) 2022 Award of Excellence, amongst others.
BISOYE COKER-ODUSOTE: Quintessential Amazon, Professional Strategist, Making A Difference At Lagos State Infrastructure Maintenance and Regulatory Agency
At the helm of leadership as the General Manager of the Lagos State Infrastructure Maintenance and Regulatory Agency (“LASIMRA” or the “Agency”) – a state body charged with oversight of utility (telecommunications, electrical, gas and water [over and under the ground]) infrastructure within Lagos State –, Engr.Bisoye Coker-Odusote was instrumental to the enforcement of standards and procedures for constructing lines and laying of cables across public lands and properties, expansion of utility infrastructure database for effective monitoring and maintenance, automation of permit application process and drastic reduction of illegal digging and vandalization across the state metropolis as well as capacity development for the monitoring and enforcement arm of the Agency; initiatives that were in line with the Agency’s vision to be a model technology-driven and innovative regulatory agency which seeks public safety.
In tandem with the T.H.E.M.E.S Policy Agenda of the present administration in transforming Lagos State to a smart city, she played a crucial role in fostering collaboration amongst key stakeholders – telecommunication, power, gas operators –, facilitated knowledge sharing platforms for the discussions of enabling factors from the public and private spaces and provided an enabling environment for the installation of over 3,000 km of fibre optic cables across the State for the successful development of the Lagos State Metro/Smart City Project.The installation of the fibre metro network cables and broadband infrastructure across Lagos geographical spread is set to drive effective, data-driven decision making, enhanced citizen and government engagement, safer communities, improved transportation, digital equity, amongst others.
Her innovative work at the Agency was impactful within the utility infrastructure space and well acknowledged amongst its stakeholders and the public, which saw LASIMRA won several awards for its contribution to digital infrastructure and smart city project.
Before assuming her current role as the General Manager at LASIMRA, Engr.Bisoye Coker-Odusote played vital roles as Deputy General Manager of the prestigious Agency through improved stakeholders’ engagements and execution of digital transformation projects.She previously served as the Head of Information Technology & Communication at Bate Litwin (an engineering company, a former subsidiary of Litwin, France) working on projects such as Chevron ESA (JV with Atlas).
Prior to this, with over 20 years working experience, she has held several key positions across different industries in the U.K.In Engr.Bisoye Coker-Odusote’s quest and passion to contribute to the economy through human capital development, she set-up a tech advancement initiative under the Bibi Coker Foundation which gives education grants for women studying Science, Technology, Engineering and Mathematics (STEM) related undergraduate degrees to encourage more women to join the male dominated industry.
AMBROSE OVBIEBO: Quintessential CEO, Purpose-driven Strategist, Driving Growth through Excellent Service Delivery in the Maritime Industry
Ambrose Ovbiebo is a multi-dimensional leader and astute entrepreneur whose simplicity and knack for excellence has seen him made name for himself in the Nigerian maritime industry.
He is the Founder and Executive Chairman of one of Nigeria’s leading marine logistics service companies with verifiable year-after-year success achieving revenue, profit, and business growth objectives within start-up, turnaround, and rapid-change environments.
Sustainability-minded, customer-centric and performance-driven, his extensive experience in highly competitive and tasking delivery terrain, which requires deep understanding of critical business drivers in multiple markets and industries, sets him apart, as evidenced by his ability to build successful relationships with upper-level decision makers, seize control of critical problem areas, and delivering on customer commitments.
In this interview, he discusses the focus of Tamrose Limited as a prominent player in the maritime industry, issues bothering on maritime security and how his company has been creating employment opportunities in the industry.
Growth strategies adopted at Tamrose Limited
Permit me to provide a background to my answer so as to highlight an often-ignored nuance that frame the success of every enterprise – the very precursor and foundation for all strategies and without which strategies will be meaningless – The goal to fill a need! Every great and successful enterprise starts with a simple “goal to fill a need”.At the time, Tamrose was founded, there was a void of reliable, not to mention excellent service delivery in the Nigerian offshore marine logistics industry dominated by foreign names like Bourbon, Edison Chouest, Tide Water and others.For Tamrose, it was a burning determination to build an indigenous organisation renowned for excellent, world-class services that can rival the very best in the world, and by God’s grace and providence, we are succeeding.
Basically, it was the “goal to fill a need”, pursued relentlessly via hard work, blessed by the grace and favour of God that has culminated in the challenging but rewarding journey we embarked on over 13 years ago.The Nigerian business landscape is very dynamic, with numerous moving parts capable of upsetting even the best-laid plans.So, today, I thank God for the providence that allows us to discuss strategies.
Based on the foregoing, one can say that the success of Tamrose has been anchored on four main pillars; customer-centricity, passion for excellence, continuous improvement and hard work.Since The Tamrose of our dream is a self-sustaining, performance-driven organisation renowned for excellence, it’s no coincidence that all four strategic pillars are mutually re-enforcing.
The Four Main Pillars
The first is customer-centricity (putting the customer first).
Every step we have taken has been in response to the clients’ needs – both the subtle and obvious ones.We take the time to listen to our valued clients and go above and beyond to understand their businesses better than most, if not all, of our competitors.
That provides us an advantage: we understand our clients’ businesses and demands, and we respond with a great resolve to exceed their expectations.
The second is our ‘passion for excellence’ that ties directly into how we deliver on our customers’ expectations.We will push ourselves relentlessly and sometimes at great cost, safely, to ensure we deliver nothing but excellence – in terms of safety, the conditions of our vessels (appearance and technical operability), and customer service.In whatever we do, we must set the gold standard.That is not negotiable! To be honest, most of our stakeholders have come to associate the Tamrose brand with a particular degree of quality that is simply ‘excellence at work’.In this way, our clients become addicted to our service standards, which, with all humility, they cannot obtain from our competitors.
The third is Continuous improvement.This is an attribute that runs deep in our DNA as an organisation, even in my personal life.Those who know me personally will assert that no matter how well I do today, I will strive to do better tomorrow.At Tamrose, we are in an endless conversation on how to improve our human resources, business automation technologies, performance management, and organizational structure.
Our mantra is simple “because better is possible, good is not enough” So, we are clear from the start that excellence is a journey, not a destination, and we continue to improve as we march toward our vision of dominance.The fourth and last pillar is ‘hard work’.Pulling things together requires a lot of effort in general, and even more so in Nigeria.
There are massive infrastructure gaps that must be filled in order for enterprises to run efficiently and for the necessary resources (people) to buy into your vision and stay committed to it with you.
My early dedication to hard work, cultivated throughout my banking days, has helped me to create the resilience and work ethics that allow one to continue pushing forward despite all odds – regulatory, financial, societal, and, most importantly, human.I strongly believe that hard work beats talent when talent refuses to work hard.
How NIMASA is supporting local firms with the acquisition and manufacturing of vessels
To make a success of any partnership, there has to be strong single-mindedness on the common purpose or set goal.Given that a government agency like NIMASA is not shielded from the Nigerian environment with myriad challenges exacerbated by political considerations which often complicate issues, I am pleased to say that the agency has been a worthy partner.The agency has done well in its regulatory duty of safeguarding maritime standards and operations in Nigeria, consistently raising the standards while exhibiting helpful awareness of the reality ship owners face.
It has not been simple, but the important thing to remember is that the agency has gradually done her best to take the industry forward.
And, with the recent presidential approval for the disbursement of the Cabotage Vessel Financing Fund (CVFF), the professed determination of the current leadership, and the commitment of other stakeholders such as the Ship Owners Association of Nigeria (SOAN), of which I am an EXCO member, I am optimistic that, together, we will continue to achieve greater strides, particularly on some of the industry’s notoriously knotty legacy issues.
Addressing maritime security in Nigeria
Maritime security is first and foremost the primary responsibility of the government because of its encompassing and multi-dimensional nature.To be honest, and despite the optics, successive governments have made incremental progress in this area via enhancing the capabilities of the various government security forces and agencies.
At this point, I would like to commend the Nigerian Navy, with whom we’ve been working effectively and successfully to move personnel and cargo across Nigerian waters while also protecting important offshore oil and gas infrastructure.
However, suffice it to say that the cumulative results of these coordinated operations have resulted in a huge drop in piracy incidents and other sea threats within Nigerian national seas.The onus is thus on the incoming government to not just maintain but also dramatically strengthen the existing security apparatus; otherwise, all of the accomplishments made thus far can be simply washed away.
Creating opportunities in the maritime sector aimed at reducing unemployment.
There are two levels here: the first is through direct employment of qualified personnel into shore base and offshore (vessel) positions.We have done very well here.Today, Tamrose boasts of a total of 210 Nigerian employees, across the industry, we would be talking of over 4,000 employees.
The second stage involves developing capacities to enable young Nigerians to take on various positions, particularly in the marine industry but also in allied fields.Apart from providing free training and exposure to aspiring seamen through the Maritime Academy of Nigeria (MAN), Oron cadetship program, we also have The Tamrose Foundation, which operates as an NGO to not only sponsor the education and training of Nigerian youths, but also to foster the impartation of moral and ethical values among youths.
Important lessons learnt in life
The exciting thing about being a Founder/CEO is that each growth phase comes with little lessons that prepare you for the next major step.
As a result, your capabilities and personal efficacy improve.Along the way, your worldview and some convictions are tested and, as a result, transformed or reinforced.
I will highlight the four lessons that have shaped my career as a CEO and as a professional:
– Own and believe in your dream 100%.
To have an unshakable faith in your dream and your ability to achieve it is the first step to success.As the great novelist Chinua Achebe of blessed memory said, “when a man says yes firmly, his chi concurs”!
– You require a strong and dependable workforce.Your success is heavily reliant on the calibre and devotion of your team.When you only have one vessel, you can nearly single-handedly operate the entire operation and deliver exceptional services.However, as the fleet increases, you will need employees to not just help monitor operations, but also to maintain the same high standards that drove growth in the first place.So, unless you have spent the time and effort to develop such a talented and devoted staff, you risk growth stagnation and eventual decline over time.
– Hard work pays.You’ve got to put in the work! There is no shortcut.As a business owner, and even with the best people working with you, you must be ready to be the hardest worker, leading from the front if you want your business to succeed.
You must retain an open mind to learning while keeping your eyes firmly fixed on the big picture.
This comes with humility: realizing and accepting that you don’t know everything and that every encounter in life is a learning opportunity! This is what drives constant development in both company performance and self-improvement, as well as allows us to enjoy life outside of work.
Future aspiration
In 2019, we tripled our fleet size from 4 to 12 vessels.Though, it took us four years to prepare for this leap, four years which competition misread for slumber, we felt the impact on operational efficiency and maintaining the excellent services we are known for took a toll on us as an organisation.It is another four years, and we are much bigger and wiser.
In the future, we intend to use our knowledge to fortify our service delivery platform in preparation for our next growth phase.In addition, we will launch the next chapter of our march to dominance..
