‘How local content can cushion impact of fallen naira, oil prices’

The Executive Director of Royal Mills and Foods Limited makers of De-Royal Instant noodles and table water, Engr. Tunde Olaleke in this interview says the usage of local contents and raw materials will cushion the effects of the falling global oil prices and depreciating naira value.

hat has your company been doing to involve the distributors and customers in its scheme of things?

We have a national customers’ forum, where we interact with our distributors, get feedback from them and also to intimate them of our plans for the growth of the organisation.

Before this event, had there been any other meeting point?

Barely a month ago, we gave out three cars and many other consolation prizes for our distributors. Two people got Kia Cerato each and one person got Kia Picanto the way many other distributors got consolation prizes to appreciate them.

What has been the reactions of your customers to your products?

The feedback from our customers has been that of encouragement as compared to others in the market and our quality has never been in doubt.

What makes you different from others in the market?

Firstly, we have been able to assemble a team of dynamic people who have worked in various companies to pioneer this place. We have put hands together to make this place unique and we have moved from importing raw materials to using the local resources for our products and this gives us a unique taste and our unique taste is our selling point.

What are the major challenges your company is facing in its operations?

The major challenge is that there are some things that are to be produced in Nigeria that we wish could have been produced here. We are looking at a couple of years where we shall be able to say that everything involved in the production of noodles are from Nigeria, proudly Nigerian.

How are the dwindling oil prices and falling naira affecting your business?

We have already thought about that, this is why from the outset we set up a research department to ensure that every of our content is locally produced. Whatever the foreign currency situation is it does not affect you and your business as much or not at all. Once you are able to export, you even start earning foreign currency for the country. So we are prepared.

What other impact is your organisation making in the country?

In the head office, we have over 500 staff. We are present in 22 states across the country with big and mini depots. There are over 4000 staff working for the company and they are all Nigerians. We are just 18 months in the market and we are already in 22 states, there are plans in advance to get to the remaining states. We are also receiving requests from some West African countries including Ghana and Togo.