I can’t accept a N500,000 monthly salary - Salisu, 22-year-old entrepreneur
Muhammad Abdullahi Salisu, 22, emerged one of the top 10 leading entrepreneurs out of the 50 shortlisted small and medium enterprises owners in the 2014 edition of the Etisalat Easybusiness Millionaires Hunt, winning N2m in the process. In this interview, Salisu explained how studying BioChemistry in the university and passion for providing solutions to the problem of waste management triggered his interest in the recycling business.
What informed your venture into waste recycling? I studied Bio-Chemistry at the Ahmadu Bello University (ABU), Zaria and graduated this year. While in the university, we developed interest in the chemistry of waste materials - that is, the main recycling process.
After graduation, three of my friends - Sufiana Habeeb from Bauchi, and Idris Mansha and Ahmad Abdulkadir Koroso from Kano State - and I decided to source funds and start this recycling business. We realised there is a lot of opportunities in the business. In Kano State alone, there is waste of about 9000 metric tons that we are recycling.
How long have you been in this business?
Our business
is now 20 months old. Our medium-tolong term plan is to expand the business to industrial conversion of plastic waste to agricultural materials like plastic baskets for farmers. We also want to establish other two recycling centres - one in Azari, Bauchi State and the other in Zaria, Kaduna State.
We hope within the next 10 years to become one of the best waste management companies in the world.
How lucrative would you say the recycling business is?
The recycling business is very lucrative because the return on investments is about 65 per cent. We were able to generate N2.5 million in the first year we started the business. Now, even if am offered a job that can fetch me N500,000 per month, I won’t accept it because I already have a stable business. Of course, I can’t leave this business for any white collar job.
How do you think the Etisalat training would impact on your business?
I am very happy participating in this Etisalat entrepreneurial training. I have gained a lot because I didn’t have this kind of training in school. Now, I have been equipped
My advice to fellow Nigerian youths is that they should start doing something meaningful
on enterprise while in the university. For example, we developed our own idea while we were in the university. Students shouldn’t wait until they graduate before they can start doing
something productive
with the knowledge that can help our business grow.
In the course of the training, I have met other people who are in the same kind of business both here in Lagos and beyond and we are looking at the possibility of partnering together. I have also been made to know other tools peculiar to the business which I didn’t know before.
What challenges?
The main challenge has been funds. But with the N2 million Etisalat gave me, we have some capital to ginger the business. I intend to buy a recycling machine; already I have got land. We will use the money to buy machinery, machinery that can be used continuously for two to three years. We will source raw materials locally within communities around us.
have
been
the
What is your advice to Nigerian youths, especially the undergraduates, on entrepreneurship?
My advice to fellow Nigerian youths is that they should start doing something meaningful on enterprise while in the university. For example, we developed our own idea while we were in the university. Students shouldn’t wait until they graduate before they can start doing something productive.
After finishing their degree programmes, they can start expanding their business ideas. There are lots of opportunities in the country and they should look into them and find where their ideas fit in to be self-employed, rather than forever look for jobs that aren’t just available.