The Day Obasanjo Banned Biscuit Importation, My Life Never Remained the Same Again
creating jobs for young people to change their lives. It means more than just a business. It’s a statement of fact that we can do it. It means a full accomplishment of a change, a convergence of ideas that if young people put their minds to it; they can rise up above the odds.”
Reacting to America’s Microsoft boss, Bill Gate’s hard-hitting critical and structural assessment of Nigeria’s economy, he expressed his view in these words: “It is not enough to criticise the government. The Nigerian private sector is working in tandem with the government to help see what they need to do to help our country. As a member of the Industrial Council, what you don’t know, you can’t change. What Bill Gates said is apt and it’s the truth. The question is what do we do? Alhaji Aliko Dangote did not sit down to complain, he’s taking the problem of Nigeria one after the other to provide a solution. In doing that, government now sees the need to make policies to make those things work. So let’s stop this excessive criticism of government. It’s okay to say times are hard, there’s corruption but everyone is talking about the problems but no one is solving it. For Nigeria to move forward there must be a synergy between the political and the business class. The private sector also needs to be strong, and create jobs for young Nigerians.”
On August I, 2016, for the first time, Ezeude’s Beloxxi divested minority shareholding to German prime investment bank, the KFW-DEG, a share value of $80m. The German Investment Bank with the 8Miles of London bought the shares that enabled Beloxxi commence its latest expansion to nine production lines from an existing six production lines and an allied packaging factory in Oregun which has commenced operations.
Having explored the Nigerian market, when asked what opportunities he might be looking to expand outside Nigeria, he hads this to say: “We have a goal strategy. We have been exporting to Ghana for about seven years, I can’t really remember. We export to Liberia. We used to do Angola, and now United States. Now, we want to be able to support the domestic market first before expansion. We want to be in control of our domestic market and then move across the West African sub- region. The strategy is not to do multiple plants all over Africa but our objective is to consolidate the Nigerian position and make Beloxxi the authentic cream cracker brand of Nigeria.”
Sharing his experience on how he has weathered the storm during the recent recession as a manufacturer, he explained. “We try our very best to live above the economic level. One of the things we tried to do is monitor the micro and macro-economic situations. I knew in 2015 that the economy was headed for a tail spin. Lots of international private equity investment firms approached me that they want to invest in 2016, we decided to wait for it and we raised funds to the tune of $80million from a bank in Germany, United Kingdom and then African Capital Alliance, a Nigerian-owned private equity firm. We were able to come up with a product that is cheap, tasty and suitable for consumption and that gave us the cash flow we needed. We expanded in Agbara and as the first in West Africa; we installed five state of the world’s best equipment, trained our staff very well and so far we have maintained consistency in producing quality products. These strategic moves make us stand out today.”
When asked to talk about President Buhari and his role in the economy, and if he is good or bad for business, he was elusive, yet tactical in fielding the question. “I can’t comment on that because I’m a member of the Industrial Council and we give some of our ideas to them so it will not be fair for me to comment on the pages of newspaper.”
The highlight of his manufacturing career was about the best advice he received transitioning from importing to owning a manufacturing plant. “The best advice I received in 2003 was from Alhaji Aliko Dangote. We met in South Africa at a summit and I requested that I wanted to see him. I planned to talk to him for 30 minutes but we ended up spending an hour. The first question he asked was where I was going to site my factory. He asked me about my objectives and I told him: to make the best crackers. He then told me the story of how he emerged in the sugar business. He advised me to choose quality over quantity and that I should make sure I get the best equipment, be the best quality in the market and forget about what people have to say. He helped me advertise. Till date, I maintain a robust relationship with him. We are in the Industrial Council together. He’s our big boss and he inspires us. We always talk but in a formal way of communication.”
The entrepreneur says the biggest mistake he thinks he made in business and career, was not starting early enough. Did he see himself doing this earlier on, his response says it all: “Yes. The greatest mistake was doubting one’s capabilities and listening to people. Today we employ over 400 young graduates. I’ve motivated a lot of young people. Today, the Agbara plant afforded me opportunity to prove to them that every young kid in Nigeria can. There is a canteen that feeds them and a clinic too. Everybody working for Beloxxi is full staff. We do not have casual workers. I don’t contract third party. I do all my interviews and staffing myself. So that everyone will have equal access. No ‘connection’. All my friends know me; they don’t send CVs to me I don’t collect it. Everybody must go through the recruitment process. I don’t have any relatives working for me. I don’t know my staff from anywhere.”
If there is anything in the world that gives him a sense inspiration, it’s the black race and most populous black nation, Nigeria. The nation motivates him. He says, “Nigeria motivates me because that’s the only country I have. Everybody is a product of something. The only thing that motivates me is the enormous capabilities I see in this country and my job is to discover those capacities. The problem of this country is that we have diamond but the problem is to get a rag to clean it.”
The two persons who fit the bill of being called his heroes are his parents. “They always tell me to work hard. They believe in me.” And from all indications, he heeded that advice. And it paid off, handsomely.