Nigeria: 10 Richest Nigerian Comedians and Their Sources of Wealth

Photo: BasketmouthComedy

Basketmouth

Comedians are meant to be funny, right? Yes, the stand-up comedians dominating Nigeria's humour business landscape are funny quite alright on stage, but very serious in business.
With assets running into billions of naira, they are light years apart from the past crops of old comedians who wait on people for meager rations of life.
They may look funny and unserious, but they are cavorting to the bank and living their dreams. Ali Baba, the father of stand-up comedians in Nigeria, aptly captured in words, the profitability of comedy business when he said: "comedy is a funny business, a very big business."
After a careful study of the careers of these successful comedians, Showtime came to the conclusion that a number of them are outstanding. Here are the top 10 in this branch of entertainment in terms of their assets, the money they charge per show, the various products or corporate endorsements they did, and their established brands from which they make steady income.
Alibaba:
With over thirty years of performing on stage and hosting events for almost all Nigeria's former presidents and the present one, Ali Baba sits at the apex. Even President Olusegun Obasanjo once jokingly accused him of being overpaid for his performance. His Lekki mansion where he lives is said to be worth more than N300 million alone.
Alibaba makes his money through a chain of businesses in Lagos: as a reputed motivational speaker, a professional comedian patronised by almost all the big brands and political bigwigs in the country. His net worth is estimated to be over 3 billion naira. It is estimated that he performs in a minimum of two events weekly at an average rate of 4 to 4.5million naira per event. That would add up to about 400 million naira per annum!

Basketmouth:
He has been associated with many companies, signing different endorsement contracts in the last six years. He also has an impressive list of branding deals with Amstel Malta, Globacom Ltd. and a host of others. With his sold-out shows in South African, London, and even in far away America, and on his Basketmouth Uncensored platform, the comedian has been so consistent since he came to limelight.
His assets are estimated to be worth 2 billion naira. His annual income may be in excess of 192 million, while endorsement deals run into over 120 million annually. His international show, Basketmouth Uncensored, rakes in an estimated 100million naira. This artiste makes over 360 million annually.

I Go Dye:
United Nations Millennium Developmental Goal Ambassador, Amb. Francis Agoda, fondly called I Go Dye is the C.E.O of Revamp Construction Company, a property, real estate and road Construction Company. An estimate of his annual income stands between 350 and 500million naira, while his net worth is valued at over 2 billion naira. With properties in choice areas across Nigeria, and fleet of luxury cars, he is the man to beat. He also has a special performing relationship with almost all the governors in the country. His business empire is increasing every day. Presently, he is constructing a bottle water company, Franstel Natural Bottle Water.

Julius Agwu:
He made over 20 million naira alone from the launch of his book when he turned 40. He has properties scattered all over the country, a state-of-the-art audio and video studio, and more political affiliates than any other comedian.
For over a decade now, Julius Agwu has been organising two events: Crack Your Ribs and Laugh for Christ Sake. He is reputed to own properties in 3 states in Nigeria, and is also the C.E.O of Real Laff Entertainment Company which is an event management firm. His performance fee is between 2 to 3million naira per event, and his annual take-home is estimated at 180million while his personally organised events are estimated to be about 140 million annually. His net worth is valued to be 1.5 billion naira.
 

AY:
Since his foray into this money making business, he has risen faster than anticipated with a performance fee that is between 1 and 2 million naira per event, while his A.Y Live events organised annually rakes in 160 million annually. He is said to be earning 280 million naira annually. His net worth is put at 800 million naira. He is also working on his MVP club and also runs an event company. He also has fleets of cars and properties at Lekki area in Lagos.

Gbenga Adeyinka :
No comedian anchors more events than him presently. He is constantly busy and a top choice with politicians. He has properties and several business interests besides his Laffmattaz which is always a sold-out show with more than 5000 people in attendance every year. Gbenga Adeyinka:
No comedian anchors more events than him presently. He is constantly busy and a top choice with politicians.He has properties and several business interests besides his Laffmattaz which is always a sold out show with more than 5000 people in attendance every year

Okey Bakaasi:
He anchors upscale events steadily and must have made huge money from politics too as Senior Special Assistant on entertainment in Imo State. He has a mansion in Imo State and Canada.

TEE-A:
A highly gifted wedding MC, he has equipment and an events company. He anchors mainly heightened events and also does private businesses

BOVI:
He has made a lot of money lately from events, adverts and tours. He is probably the hottest kid right now.

YAW
Yaw is into the big league with a choice property in Lagos. He also makes money from MTN adverts, radio presentations, radio hypes, anchoring events, equipment leasing and other businesses.

We are not ashamed to be called the church of the rich – Oyedepo

We are not ashamed to be called the church of the rich – Oyedepo

The Founder of Living Faith Church aka Winners Chapel, Bishop David Oyedepo, in an interview with Saturday Punch said the reason there are so many rich people in 33 year old church is because they know better than others and understand the importance of tithe (Let's not start with this tithe talk abeg, if I start now, we will start fighting here...lol). Anyway below is excerpts from the interview...

Why are there so many rich people in Winners?

Because they know better than their contemporaries. If you don’t know what you have, you won’t know if you are deprived of it. The Bible is an open chequebook, it is by revelation we access what belongs to us; by faith we take delivery of it. Someone had access to our empowerment programme and she is a pepper seller, while others sell one basket a day, she sells six, seven. I learnt she had become the envy of all the pepper sellers in her area. Such person has an understanding that whatever she does, she prospers and she knows that when she pays her tithe, she experiences open heavens. But in case people don’t know, they perish for lack of knowledge, and in case they think when you are rich you miss heaven, then they perish for lack of knowledge.

So, it’s right when people claim that this church is only for the rich?

It’s for all the people who believe that Jesus already paid for them to be rich. And those who don’t believe, when they come they start believing when they see it happen in a lot of people’s lives. And we are not ashamed to be called the church of the rich. If they call your family poor, will you be excited? Nobody would be excited. Even when a family is poor, they hate to be called poor. No man in his right mind enjoys being called poor, and nobody truly wants to be poor, people may pretend. Which is more honourable between being a giver and a beggar? Most of us came in very poor, but the light of God’s word came on us and we walked out of poverty in grand style into wealth and riches. 

How come there is such wealth in the church despite the poverty in the nation?

The kingdom of God is funded by God’s resources. We are not funded by the economy of the world, but by the economy of the kingdom, which has a budget for all of its agenda on earth. We’ve been here since 1999 and we have never had power outage or water shortage. The main players are Nigerians, the builders are Nigerians. There is no building here that any foreign expert took part in. There is no foreign company’s presence here, including the tabernacle. Some of the revered foreign companies here in Nigeria are technicians in Germany, and they are all political contractors, not that they have something special to offer.

Read the rest of the interview on Punch

I’m richer as a farmer than as deputy governor –Paul Alabi

Chief Paul Alabi

Chief Paul Alabi was the deputy governor of Ekiti State during the regime of former Governor Niyi Adebayo. He shares his life experiences in this interview with TUNDE AJAJA

You seem to love farming so much; does it have to do with your upbringing?

Yes. I started farming at a very young age. At about five years or so, people used to come and hire me from my mother to work in their farms. That was even before I started going to school. My father wanted me to go to school but my mother wanted me to be a farmer. He was a trader and was always travelling, so my mother was in charge. She would hire me out to people and I started taking interest in farming.  I had my own farm when I was about six years old in 1950 at the back of our house where I planted corn and other things.

So, how did you manage to go to school?

My starting point in education was very rough because my father had two wives and my mother was the junior. The senior wife had a son who was 21 days older than me. My father decided that I must go to school like my step brother who started three years earlier. He said there was no way he would have two sons and one would be going to school while the other would be going to farm, but my mother insisted that I must be a farmer. So there was a big family quarrel in the house. One day, my father forcefully took me to Hossana African Primary School, Ijesa Isu-Ekiti and the only thing I was putting on was my mother’s wrapper with no pants. That was how I started going to school.

Have you always lived in Ijesa-Isu?

I am a native of Ijesa-Isu-Ekiti but I was born on 25th May, 1944 in Ikole-Ekiti. When I was five years old, my mother took me to my father in Ijesa-Isu where he lived. My mother lived in the palace in Ikole.

After your primary education, how did you proceed?

My father declared that he had no money and said he wasn’t interested in sending us to school anymore. He advised us to find our way. I got a teaching job in 1957 through which I was able to save some money. When I passed the entrance examination into Ekiti Parapo College, I wrote a letter to Chief Obafemi Awolowo and Chief Ayo Okusaga, who was the minister of education, for assistance. They both replied to say they couldn’t give me any personal assistance. I was 13 years old then. From my savings, I went to African Church Teachers Training College in Ikere-Ekiti where I did my Grades II and III. I left there in 1964 and went back to teach to raise money. I was admited to the University of Ibadan in 1966 where I studied Sociology. Through my savings from the teaching job, I finished the first year and I was able to find my way through the second and third years with the help of the scholarship programme introduced by Chief Awolowo under Gen. Yakubu Gowon, called Indigent Students Award, coupled with contributions from fellow students.

What were you doing after school?

When I left UI, I taught at Fiwasaye Girls Secondary School in Akure between June and December, 1969. In January 1970, I joined the Federal Civil Service as an Administrative Officer and I left as a director of budget in the Federal Ministry of Finance in May 1994. I wanted to vary my experience from public life, so I was hired by Church-Gate Group of Companies between 1994 and June 1997. When I became tired of city life, I resigned. They begged me and even promised to double my salary but I refused. So I left and came home to resume farming.

So, how did you end up in politics?

When I came back, I was looking for farmland to start planting cassava and other things. In November, 1997, I visited my cousin, the then Elekole of Ikole, Oba Adeleye. As I was descending the stairs, I met Chief Apara and Olu whose nickname was Cash and Carry. They said they wanted me to join DPN. I declined initially because I never thought of being a politician in my life. I personally detest the way politicians lie and their cunning way of doing things. I was confused so I went back to tell the Elekole, being my cousin. He advised that I should consider their offer. He said it was good to be inside to help than to be outside complaining. That was how I was lured into politics just as Otunba Adebayo dragged me into becoming his deputy.

How did you meet Otunba Niyi Adebayo?

I knew him when I was in the civil service. He used to come to the ministry as a lawyer and businessman. I wanted to contest for the governorship position and he too was vying for the same office, so in 2008, he came to my house on a Sunday afternoon with late Barr. Dayo Fajuyi and Akogun Ogunleye. We had formed the AD then. I asked if he had come to surrender, but he said he was sure of winning the election. He said he came because he wanted me to be his deputy and when he said this, I laughed. We were 28 contestants and when there was no progress on the selection, I presented my draft for N250,000 for the primary to the party and I withdrew. So the leadership of the party said I would be made the deputy to whoever emerged for taking such step. Eventually, after a serious screening, four of them went to the primary and he won. That was how I became his deputy.

After your administration, one would have expected that you would remain in the same party with him. What made you part ways?

The then leadership of the Action Congress at the headquarters had a chosen candidate for the 2007 governorship election which was not known to us and we were all seeing them as an impartial umpire. But when we found out that they were scheming to favour Governor Kayode Fayemi, all of us, including Senator Bode Olowoporoku and Prince Ayo Adeyeye left.

It was alleged that you said Otunba Adebayo did not do anything for your community when he was the governor?

The question you would ask is what did he do for his own community that would make me say he didn’t do for mine. In fairness to him, the hospital in this town was upgraded to a general hospital during our administration. He also rehabilitated this road that passed through my house before we left. But we are still very close.

But you were the chairman of the State Tenders Board which handled capital projects, one would expect you to have taken advantage of that.

If that is how things work in government, things would have been better than this everywhere.

Even some of your kinsmen said you didn’t do anything for them? What specific thing did you do for them?

What could I have done for them? I don’t believe such report.

You were once considered for ministerial appointment under this dispensation, what made you lose out?

I’m not aware, and that could have affected my life too. Do you know how many people I employ daily in my farm? People even come from neighbouring towns and states to work here. I feel fulfilled being of help to people in one way or the other. I believe that you can make a difference anywhere you are if you do things differently. So you don’t have to be a minister before you can impact people’s lives. Everyone of us cannot be minister at the same time; so if we have that kind of orientation, there would be less trouble in the land.

The youths of today are poised for white collar jobs, how do you react when they come to you to ask for money?

They always bombard me with applications and I counsel them to embrace farming. I also help them in any way I could.

What do you think makes them not to have interest in farming?

It is due to a generational gap and poor orientation because they are surrounded by people looking for appointment.

Having held such an exalted office as deputy governor, one would not have expected to meet you  in the farm?

As the deputy governor, I was still farming. I employed people and I made sure I spent my weekends here. I couldn’t attend most government parties and some avoidable  engagements on weekends because of my farm which is now my office and I am proud of saying that anywhere. Even when I was a civil servant in Abuja, I was still farming in places like Kubwa and some people knew me then. My farm is big enough as employment for me.

Would you say you are richer as a farmer than as the deputy governor?

Not only richer, but I am happier. What happens is that most people measure wealth in terms of naira and kobo, but that is not how I see it. I guess that’s why I said I am happier because being happy is more important than being rich. I don’t have any political ambition again and there is nothing I want that God has not done for me. I can’t build a house again, I won’t marry another wife or have more kids. So, I am happy and contented with what I have.

Don’t you think you are missing out in politics?

I am not missing out anywhere as long as I’m happy, fulfilled and convinced that I’m adding value to people’s lives, which is more than running up and down looking for favours. For me, politics is not the end of everything. I now regard myself as an elder statesman. I cherish my peace of mind. In fact, a day outside my farm is like a day in hell. I have joy here; I eat fresh things and impact people’s lives. My people are even happy that I returned home.

So you prefer being in the farm than being in any public office?

Yes. Comfort and contentment are the baseline. Money is not everything but that doesn’t mean it is not important; it is. Politics is not the only profession. We have been misled to think that someone cannot live a good life or contribute meaningfully to the development of the society except by holding a public office.

Does that mean if you had been made a minister, you would have rejected it?

They may not even make me one because I don’t know how to lobby. In this country, people who play good roles are not recognised as much as the noisemakers. Even when I joined politics, I didn’t lobby to be made the deputy governor.

Did you know that you would be successful in farming?

No. I couldn’t have. I was a child of circumstance because my father wanted me to go to school while my mother wanted me to be a farmer. So their separate wishes for me have been fulfilled, even though it pains me that my father did not live to see what I have become. But my mother was alive till 2008 and she saw me farming which made her happy.

In 2007, you went to Ado-Ekiti to sell foodstuff to workers; what was the motive?

It was to assist my constituency which is the civil service. I don’t take my produce to the market in Ado, I only take them to the secretariat where my people are being exploited by the middlemen who buy the produce and sell at exorbitant prices, so I didn’t want that for those in my constituency. I am not desperate for profit.

But some said it was political?

No, how could it have been political? As the deputy governor, I was selling yam and when I left office, I continued. The way I see things is different from how many people do.

When do you hope to retire from farming?

That is when I die because it is only death that will make me retire from farming. Even if I am invited to Abuja, Lagos or anywhere else, I will continue to farm. In fact, I will prefer to die in the farm than in the house because whatever interests you, gives you joy and happiness is your friend and you should always stay with it. My 8:00am to 2:00pm in the farm everyday, apart from Sundays, is important to me.

How do you relax?

There is nothing as relaxing as farming. It is the most relaxing thing I have ever seen in life. When you move from where you plant yam to where you plant plantain and from there you move to where your labourers are working, you are exercising yourself. And when I am home, I sit under the shade outside for natural air, what is more relaxing than all those?

Since you love agriculture so much, do you cook?

Yes. I cook very well. Who will cook for me in the farm? I cook in the farm but my wife cooks for me at home and I eat two times a day. Her food is so delicious and some of my workers have been beneficiaries and I’m sure they won’t forget the experience.

How would you want your farm to be handled after you?

I hope and pray that it will be well handled because not all the children of today have interest in farming. I believe in the ‘do your best and leave the rest’ theory.

Is any of your children interested in following in your footsteps?

Some are interested in it, especially the females who are medical doctors. And if they can’t run it, that is their headache. Mine is to run the place to my satisfaction while I am alive. What happens thereafter is left to them and I say good luck to them. If they want to sell it, good luck to them. If there is anything that I hope for in life now, it is good health.

How many years would you want to spend on earth?

That is something that you have no control over. I live everyday of my life as if I won’t know the second minute, so I don’t bother myself about death; it can come at anytime. My mother spent 105 and my father spent 84 years, so I tell people to add the two numbers and divide by two, if that is okay. It is not how long but how much you contribute to life itself. That is the way I run my life; my house is open; no security or exotic cars. I have nothing to hide because life itself is not hidden. I have shown my children where to bury me, beside my wife, which is also where my mother was buried.

How have you been meeting your financial needs since you claim you sell your farm produce at a reduced price?

I am a pensioner as a retired civil servant and as a former deputy governor. There was a bill that was passed by the Ekiti State House of Assembly which was signed into law by Governor Fayemi, which makes provision for pension for a governor and his deputy if they finish their tenure, and Otunba Niyi Adebayo and myself qualify for it. When you have moderate ambition, God can enlarge it for you. And as a farmer, I produce things like palm oil, yam, fish and palm kernel in good quantities and I still give out some of them and God blesses me more. I also have children who are grown who send money to me, so I am ok.

But one would have expected that the money you made as the deputy governor would be enough to last you for a lifetime?

(Laughs) Ask people around. I spent my own money even as the deputy governor. I had built my house and had cars before I became the deputy governor. You won’t believe it. People know that there is nothing extraordinary in what I have either before, during or after, both in lifestyle and properties.

Floyd Mayweather gets N5bn for Las Vegas win

 

After rolling over most of his recent opponents and defying the aging process, pound-for-pound champion Floyd Mayweather finally found himself in a fight last Saturday night in Las Vegas.

Fight week began with Mayweather talking retirement and buying the Los Angeles Clippers. By the end of the week, the fight was in jeopardy over a controversy regarding the Everlast gloves Marcos Maidana planned to wear.

The dispute was settled with too much money at stake for Mayweather to walk away.

When the fighters finally climbed into the ring at the sold-out MGM Grand, Maidana almost took the zero that Mayweather cherishes so much in his now 46-0 pro record.

Mayweather threw half as many punches as Maidana, but still managed to land more blows. Yet, the 221 punches Maidana landed were the most times Mayweather has been hit, according to data compiled by Showtime Stats from 38 of Mayweather’s previous fights.

Mayweather suffered a brutal cut over his right eye from a head-butt during the fourth round, but his cutman, Rafael Garcia, managed to stop the bleeding. Mayweather took some shots at Maidana after the fight for hitting below the belt, but was mostly gracious. ”It was a tough, competitive fight,” Mayweather said. “I gave the fans what the fans wanted to see. Normally, I box and move. Finally, I was in a tough, competitive fight. Tonight, I wanted to stand there and fight and give the fans their money’s worth.” Mayweather pocketed a guaranteed $32 million (N5bn), plus his share of revenue if the fight scores big on pay-per-view.

Saturday’s fight was so good that many were calling for a rematch for later in the year. “If the fans want to see it again, we’ll do it again,” Mayweather said.

Mayweather is expected to be back in the ring in September for the fourth fight in the six-fight, $200 million-plus blockbuster pact he signed with Showtime in 2013.

About Mayweather

Floyd Mayweather, Jr. (born Floyd Joy Sinclair; February 24, 1977) is an American professional boxer, currently undefeated as a professional. He is a five-division world champion, having won eight world titles and the lineal championship in three different weight classes.

Mayweather is a two-time Ring magazine ‘Fighter of the Year’ (winning the award in 1998 and 2007); he also won the Boxing Writers Association of America (BWAA) ‘Fighter of the Year’ award in 2007 and the ‘Best Fighter ESPY Award’ in 2007, 2008, 2010, 2012 and 2013.

He is a known spendthrift

Floyd Mayweather has a strong passion for cars, and it’s a well known fact. His rich collection of cars includes Bentley Mulsanne, Lamborghini Aventador, Rolls Royce Phantom, Ford Mustang, and a Mercedes Benz SLS AMG model. Recently, the American Boxer purchased the latest model of Lamborghini Aventador. Painted in pure white, it’s one hell of a fast roadster that has the capability of reaching 0-100 km/h mark in just 2.9 seconds. The ‘toy’ cost him £400,000 (N107m).

Floyd Mayweather recently posted picture of his newly purchased Mercedes-Benz SLS AMG model. The full white coloured lavish sedan is all class and style. One amazing feature available in this new roadster from Mercedes is the AMG Ride Control sports suspension.

Because of the presence of this suspension, the electronically-controlled dampers are allowed to choose from the three different suspension settings available during driving. The car starts at a price range of $196,100 (N31m).

The Bentley Mulsanne is one of Floyd Mayweather’s favourite cars and the champion boxer is known to own at least two of these beauties. Inside the ring, Mayweather has a reputation for being a showman, while outside it, his life maintains the aura of a circus with a vast entourage of hangers on who must be ready at any minute to do whatever he desires, even if that means playing basketball at 2am.

Other facts about Mayweather’s spending habit

• He has a single bank account with $123m (N19.7bn) in it. He’s obsessed with cash.

• He travels with Ziploc bags of hundreds, and is known for his crazy shopping sprees.

• He has two fleets of luxury cars including a $290,000 (N46.4m) Bentley. All his cars at his Miami house are white, and the cars at his Vegas house are black.

• He only wears shoes once. He leaves them in hotel rooms for the staff when he’s done.

• He spends $6,500 (N1m) per year on boxers. He throws them out after wearing them once.

• He owns a Gulfstream 5 private jet, but doesn’t let his full entourage ride on it.

• His bodyguards travel on a separate jet because Floyd is afraid of having two much weight in the cabin.

• He is known for making insane, seven-figure bets on sporting events.

• There was even a rumour that he bet $5.9m (N944m) on the Miami Heat in the playoffs.

• His Instagram account is full of money pictures.

• He spends millions on necklaces, and once had $7m (N1.1bn) in jewelry stolen from his house.

• He spreads the wealth. He bought his on and off fiancee Shantel Jackson a diamond ring worth $10m (N1.6bn).

• He can afford all of this because of the eye-popping amount of money he earns from his fights.

• Floyd earned $90m (N14.4bn) in 2013 alone. He’s the highest-paid athlete in the world.

• He earned a record $41.5m (N6.6bn) for his fight against Canelo Alvarez in 2013.

• The money will keep pouring in. He’s currently one fight into a six-fight, 30-month deal with Showtime that’s rumoured to pay him $300m.

• Floyd doesn’t have a single endorsement deal.

• He has an apparel company called The Money Team, but no deals with Nike, Adidas or Reebok.

• His entourage also calls itself “The Money Team.”

• For all of his wild spending habits, Floyd has a reputation for having a maniacal work ethic.

• He’ll often wake up at 3am and go work out.

• He’s also considered one of the most tactical boxers ever. He is 44-0, and a massive favourite to beat Alvarez and keep the mystique of “Money” Mayweather alive.

• Mayweather’s 22,000-square foot home in Las Vegas requires $3,000 (N480,000) in monthly gardening maintenance.

Sources: forbes.com, businessinsider.com, bornrich.com, en.wikipedia.org

"Jose Mourinho is a fool for questioning my age' - Samuel Eto'o

"Jose Mourinho is a fool for questioning my age' - Samuel Eto'o

Well, Sameul Eto'o can talk now because his contract with Chelsea is finished. He's finally responded to his former coach Jose Mourinho's comments about him being older than 33. Speaking with reporters in Abidjan yesterday, the 3-time African footballer of the year called Mourinho a fool for questioning his age

"I am 33 years old. And it is not because a fool called me an old man that you must believe it. And you may have noticed that the old man was better than the youngsters.'

Eto'o also hinted that he will play for a European club next season rather than sign a lucrative deal in the Middle East. "Some believe I am going to retire in the US or the Middle East, but I have regained the joy of the Champions League and I am going to carry on playing in the Champions League."

'Many Nigerian artistes lead fake lives' – Duncan Mighty

'Many Nigerian artistes lead fake lives' – Duncan Mighty

In an interview with Punch published today, Port Harcourt first son, Duncan Mighty, called some of his colleagues out, saying a lot of them lead fake lives and lie about their acquisition...

“A lot of Nigerian artistes’ lead fake lives. They claim to be what they are not, just because they want to meet up their peers and fellow artistes. I live in my own house (it has a swimming pool, lounge and studio) and I make bold to say I didn’t buy it. I built it from the scratch. But a lot of these artistes will claim they bought a house for N300m or N400m. But I didn’t spend up to that amount to build my house. If you have that amount, say N500m, you don’t go and buy one property. There are many things to do with money. They claim they have state-of-the-art cars, but that is not my priority. I have choice cars, but it takes a lot of money to maintain such cars.”

PICTURED: Kelly Rowland marries Tim Witherspoon in a secret ceremony in Costa Rica... joined by Beyoncé and Solange following their Met Gala controversy

Following the arrival of Beyonce and Solange fresh from their Met Gala controversy, they were no doubt hoping the wedding would go off without a hitch.

Thankfully, it seemed that Kelly Rowland and Tim Witherspoon managed to enjoy their nuptials drama-free, as they married in a secret ceremony in Costa Rica on Friday.

Kelly was dressed in a beautiful traditional white gown for her big day, which also saw Tina Knowles and Michelle Williams attend.

Scroll down for video

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You may kiss the bride! Kelly Rowland is seen marrying retired boxer Tim Witherspoon in a secret ceremony in Costa Rica last Friday

A report in UsWeekly claimed that the event was 'a quick, simple ceremony - only around 30 people'.

And judging by the pictures it seemed Kelly and her beau felt like it was just the two of them, as they romantically kissed on a deck overlooking the sea.

Tim - a retired American boxer - matched his bride wearing a tailored white suit for the occasion, while Kelly went for a traditional dress with a long flowing veil.

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Perfect moment: Tim matched his bride wearing a tailored white suit for the occasion, while Kelly went for a traditional dress with a long flowing veil

Hopefully Beyonce and her sister Solange would have had time to sort out any difference before the ceremony was under way.

Beyonce first dropped clues about the wedding, when she posted a picture on her Instagram account, showing what appeared to be a bridesmaids outfit.

Speaking last December, 33-year-old Kelly admitted she and Tim had been engaged for some time.

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Tearful: Kelly appeared to be overcome with emotion as she exchanged vows with Tim on the big day

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Idyllic: The Costa Rica setting proved to be the perfect backdrop for Kelly and Tim's nuptials last Friday

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Floral arrangements: The bride was joined Beyonce and Solange... following controversy at the Met Gala afterparty

Kelly Rowland and beau enjoy Miami Beach ahead of wedding

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No sign of stress: Beyonce posted this picture on Saturday in Costa Rica which prompted rumours she had joined Kelly Rowland for her secret wedding to Tim Witherspoon

She said: 'He put a ring on it. It's been a while. We've kept it very, very low - for years, to be completely honest.'

Kelly also revealed her boyfriend of four years proposed on Skype while she was in Bulgaria.

She said: 'He put a ring on it! He asked me first on Skype and I was like, 'We're so far away from each other.' But it was so late, I remember we were both just kinda like, honestly, just staring at each other.'

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Taking the plunge: Kelly looked lovingly at Time as they got married in secret in Costa Rica last week

Adding: 'And he asked me, and it was just that simple to say yes.'

The Kisses Down Low singer was previously engaged to footballer Roy Williams, but they split in January 2005 without making it down the aisle.

+9

Happy couple: According to UsWeekly, Kelly Rowland and her partner Tim Witherspoon tied the knot in a secret ceremony in Costa Rica on Friday

 

Congratulations to newlyweds Kelly Rowland and Tim Witherspoon. The ceremony looks beautiful, but we can't help wondering what the bride wore?
If her dressed down days are anything to go by, it was surely top whack designer. Here she's wearing some super chic espadrilles by (no prizes for guessing with those logos!) Chanel, to match her quilted bag, natch.
Espadrilles are up there amongst our favourite summer trends. They're the best way to give your feet a break from skyscraper heels and are perfect for going from beach to brunch when on holiday, or paired with boyfriend jeans back home.
And Kelly's not the only fan of the look. Kourtney Kardashian can't get enough of her Chanel numbers and only last week we spotted Coleen Rooney in some Christian Louboutin espadrilles too.
Unlike most Chanel items, you can actually buy Kelly's shoes now by clicking the link (right). But if you were looking to spend a whole lot less then check out our five high street favourites in the edit below.

+9

Still friends: Kelly Rowland was said to be joined by her former bandmates Michelle Williams and Beyonce (pictured here together in 2004) for her wedding on Friday

'How I got into the oil business' - Billionaire, Mrs Folorunsho Alakija

'How I got into the oil business' - Billionaire, Mrs Folorunsho Alakija

One of the world's richest black women, Mrs Folorunsho Alakija has opened up on how she got into the oil business that has made her a billionaire. Speaking during the Women Inspiration & Enterprise WIE event that held two weeks ago, the chairman of Famfa Oil & Gas, said she got into the business through perseverance and hard work

"It was not a planned thing at all. A friend actually contacted me that some people wanted to buy crude oil and she was wondering if I will be able to get them to make the purchase. I got an appointment with the Minister of Petroleum and he told me that it's not the way to go because there wasn't much profit in selling it and because it's a foreign company that Nigeria is imposed at selling its crude to international market. That it will be better to look at other things. I went back to my friend and told her what the Minister said. Then it seemed as if that door was shut but something else came up. I chose not to walk away so I went back to offer another service which was catering services. And yet again I was shut down. I did not give up, I just knew that something had to come out of it. I spoke again to some friends in the oil industry and I was told to ask to be able to supply transportation services for those who are purchasing crude within the country but I was shut down again by the minister.

Then the last time I went to see the Minister, he told me that the government wants Nigerians to be involved in Nigeria's exploration and production. That it has been the multinationals that have been taking advantage of the oil business in Nigeria. So I was like OK...probably this is not the likes of me. I felt like there was no point coming back but honestly, I'm not the type to take no for an answer. So I began to ask questions, I began to knock on doors, I began to seek information and in the long run, I applied for an oil bloc. But all through that time, the ministers have been changed 3 times so each time they are changed, it takes me back to the bottom of the ladder and I will have to start all over again but I still did not give up. The whole thing started in January 1991 till the end of 1993. I kept going, kept going, kept praying, in-between I became a born-again Christian. That was when I knew the lord. When I was 40, I decided to enter a covenant with the lord that if he blesses me, that I will serve him for the rest of my life and then I got the oil license. It eventually came after 3years but I did not get the one I wanted." she said

On her husband's role in all her business pursuit, she said 

"My husband was solidly behind me. There were many times that I will go back home crying and he would tell me to stop crying and he would tell me to stop crying that after all, we are not starving, we are very comfortable. I had his support financially, morally because I had a settled home. I had a balanced relationship with my Husband and my children. All that helped me to dare to make a difference" she said

Grades don’t determine success — Adeyinka

  

 

Adeyinka
| credits: File copy

Twenty-six-year old Adesanmi Adeyinka is the Chief Executive Officer of the Arena Group. He spoke to Tope Omogbolagun about his business experience

 How did you come about the name of your organisation?

Many years ago as a child, I was watching a programme on television then I was came up with the idea of owning a business of my own and later, a friend of mine brought the name and I came up with the idea of starting my own company. But at that point in time, I had no particular name in mind. The friend then suggested ‘D ARENA’. But I modified it to ‘THE ARENA’ because it translates everything I had in mind perfectly. So I adopted the name.

So what does ‘THE ARENA’ entail?

It’s a group business that ventures into satisfying the basic needs of human. Presently it’s into three aspects — The Arena automobile, The Arena Pets and The Arena Beauty Home.

Did you study anything related to business?

No. I studied law at the University Of Abuja.

How are you then able to manage three different businesses under the same name?

It has been God. I only read a lot of books on my own, browse the Internet and also learn from people. I read through people’s success stories and failures so as to know how to cross the bridge when I get there. I have been able to lift the burden off myself by getting other people to do the work for me.

Why did you abandon the dream of becoming a lawyer for business?

Law was a profession I loved dearly as I had always adored it as a child. However, there was this part of me that never wanted to work for anyone. I wanted to be a boss of my myself. It pained me greatly while growing up to see my mother wake up early for work and come back very late at night. This made me desire to be an entrepreneur. Unemployment was also another factor that made me venture into business. I didn’t want to join the league of those who walk around the streets, instead I wanted to create employment for people

How did you source funds to start your business?

‘The Arena motors’ started in 2010, while ‘The Arena Pets’ commenced in 2011. The funds were majorly from my personal purse. And all gratitude to my mother. She was also very helpful in raising funds. All wasn’t done without the help of God. I came to realise at the early stage of my life that there are just two categories of people who exist in life: Enemies and immediate family. That alone has kept me going and it has really made me a strong person. I grew up to learn that in this life, you are on your own, if you want to achieve anything and become a respectable person in life, you have to be independent because the more you depend on people, the more you get disappointed.

Is your business capital intensive?

My type of business is capital intensive, especially the automobile and the pets’ business. That doesn’t mean everyone who wants to start a business must necessarily start big. One can start a business small with maximum discipline, hardwork and overtime, it will expand.

What are the challenges you have encountered so far?

I face a whole lot of challenges daily. The thought of the month coming to an end every month is really a big challenge. Handling errant workers, competitors, customers, their suggestions, observations, and most times offensive comments and thoughts of how to move to the next stage are very challenging. Managing different types of business at the same time is also an endearing task.

How have you been able to overcome these challenges?

The only thing I do to overcome these challenges is prayer. Putting God first as the leader, keeping my head above the waters, focus on the goals and having the end in mind right from the beginning, that’s it.

What are your guiding principles?

I believe in possibility. When you believe that things can be done automatically, it becomes a driving force. Diligence is also another thing that has helped tremendously. When my companions slept; I was toiling upwards in the night.

How has the government been helping entrepreneurship in Nigeria?

Government presently has a whole lot to deal with and so has not been of much help or influence to young entrepreneurs. The question is, how many people will the government sponsor? We are in the dispensation where people should not think of what government can do for them but what they as citizens can also do for the government to make the nation a better place.

The truth is that Nigeria is nothing to write home about. It’s a place or the situation where that the rich are getting richer and the poor are getting poorer. It seems every opportunity out there is designed for the rich. The poor and those on the average cannot make a quick grab at any opportunity majorly because of lack of funds.

What is your advice to unemployed graduates?

It is good enough that you have acquired the certificate as stipulated by parents but the question remains. Certificate for which job? Education merely educates you, which is not enough for you to survive in Nigeria. School doesn’t test our knowledge, it tests our memory. So my candid advice is for them to keep the certificates and explore other possibilities, because institutions don’t teach us how to succeed in life or how to make ends meet, rather they impact us with knowledge and then we make the grade our parents desire. One thing I have realised overtime is that grades doesn’t make you successful, but grace. Think of multimillion naira ideas and meet with the right people. Prospective entrepreneurs should take time to study all I have said, discover themselves, be determined , be original and different, have a goal and above all put God first in all they do as He is the only way.

‘The difference between a rich and poor man is information’

  

Mr. Jeje Peter

In this interview, the Founder of Thoroughklin Services, Mr. Jeje Peter, 28, shares his success story with MOTUNRAYO JOEL

What is your educational background?

I studied geography at the Obafemi Awolowo University, Ile-Ife.

What is your business about and when did you start?

Thoroughklin is a facility-cleaning company. We offer services to homes, offices, organisations. I started on the sideline in 2011 but went fully into it in February 2012 when I completed my National Youth Service Corps programme.

What spurred you?

Back in 2009, I saw the situation of unemployment in Nigeria and I did not want to be caught in the web. So I got some information that sparked the idea of starting a business. The information really transformed my life. Also, I remember an old man who came to clear the weed growing in the gutter right in front of the house once in a while. I began to think how much this man could be making a week and a month. That sparked off in me new ideas of what to do and how to do it. By the time I eventually finished school in 2010, I had written down my business plan from start to finish. I realised that only information can transform a life. The difference between a rich man and a poor man is information. Before going for my NYSC programme in October 2010, I had gathered volumes of information to start.

Did you entertain any doubt?

There was no doubt in me. I rather drew a five-plan for the business. The plan stated the factors of success and failure but I was determined to come out well.

Describe the process you passed through in starting your business?

When I was younger I had a passion for doing things with my hands. Passion keeps you focused. I knew I needed more knowledge. During my service, I worked for a facility company where I was exposed to all I needed to know. I took note of the activities. I went through all the processes from one department to another. Also, I started saving from my allowance money to open a limited liability company. I saw myself very big and able to contribute in reducing the unemployment market.

What is the impact of technology positively on the entrepreneurial environment?

Technology has done a lot, especially the social media. These days, I visit the ‘University of Google’ to study. The platform has enough information to turn your mind around. I read a lot from the Internet.

Did you use social media to develop your client database?

Yes, if you really need to get customers, make the Internet your number one resort. My phone has really helped me a lot. One can search for business names, numbers and addresses. From there, I created an excel sheet for the names of organisations, hospitals, and schools across the country.

What are some of the challenges have you faced so far?

A lot! Some have to do with clients, others with staff. One of the challenges in business is managing people. We also face technical issues but in all, we understand that without problem we won’t be offering our service. Challenges help us to improve on service delivery.

What is your annual profit like?

We just started about a year and some months ago and already we have hit the six digit figure in profit and it is getting better by the day.

What measures have you put in place to stay ahead of your competitors?

First, don’t look at your competitors; just stay focused.  Run your race at your level. Create a unique path, develop yourself and be better in your service delivery. Some are ahead of you while others are just joining; so study those ahead and see how they grew their customer base and you can improve. I believe if you can start at your level and improve yourself daily, customers will surly come and you grow the database.  If you want to be successful in business, you must study what your clients want.

Were you born with an entrepreneurial spirit or did you develop it?

I believe no one is born to be an entrepreneur but the choice we make as we grow. The area we find ourselves matters. A person born within the market will do well when it comes to selling than someone born in an academic environment. I desire a change in Nigeria. I want to solve problems and bless mankind. It was this desire that led me into starting a business. I also wanted to be independent and to serve God with my time. My mother is an entrepreneur and love to do business. Maybe I got the spirit from her.

Do you think the mindset has anything to do with success?

Yes, our mindset has everything to do with our success in life. If you are poor in mind you can’t imagine big things. Man is made up of body, soul and spirit. The mind is where the real work is. Our mind is the field of life; where every battle takes place. A lot of people fail because their minds are poor. They cannot see the big picture ahead of them. The mind is the engine room where thoughts are processed. Even the Bible says in Pro. 23:7, “For as he think in his heart so is he.” Success in business begins in the mind. If you can get it straight from your mind, you won’t have any difficulty succeeding. I remember I read a book by Paul Y Cho (pastor of the world largest church), Secret of Church Growth. I took the principle, digested it and it worked. So my mind was set and ready to achieve. I will like to say this, if it’s not God backing you, it will be difficult for you to succeed. So feed your mind with relevant and current information. Your mind can do so many things. Be positive in your thinking. Great stories came from bright minds.

If you could turn the time, what would you love to do in regards to your business?

If you have a business and employ people, you will pay for their services and they will help you to carry out your vision. I once told my mummy that if I was not doing what I am doing now, I would be selling food. I understand that food is a business that sells every day regardless of the season. People eat daily. I will sell to schools, higher institution; create my own idea and packaging. I said I would sell noodles, plantain and gizzard and have this moving van stationed in different areas with drinks and other ideas will open up. Back in school, a friend opened an eatery. He understood that the school had many canteens; so he decided to bring a difference. He introduced grilled fish and was selling with rice. That was unique and people fell for it. Business needs new ideas, techniques, and branding. I love to go into food business too. The Dangote Group is a chain of businesses and they are doing well. If you don’t buy cement, you buy sugar or something else. Agriculture is another area; we need people to give more attention to agriculture. It will boost our economy.

Where do you see yourself in the next five years?

I see myself transformed; breaking new grounds, creating opportunities all around the country, and improving the market. I also hope to sell my ideas overseas. I hope to do all these with the help of God.

Do you think you have acquired expertise?

We are only one year and a few months. These can’t be the yardstick for measuring expertise. I believe experience comes with the years a person has been on that same job. I am learning and improving my service delivery. I am sure adequate information is a vital key in any business. We have done some jobs and we get referrals both from multinational and private firms.

What advice would you give to young people like you who are willing to start a business?

Believe in yourself. Get down to resourceful information, materials, and see yourself achieving great things. There are times it will be so difficult; never give up. A castle is not built in a day. Don’t rush into things; money is not the first thing but passion.

What are your thoughts on entrepreneurial ship of young people especially in an economy where jobs are hard to get?

There are lots of opportunities that are yet to be harnessed. I remember when I attended a programme organised by After School Graduate Development Centre. I discovered a lot I can play at the value chain of each business. I realised I can do so many things like painting, plumbing, and others. What we need is information to explore our world. If our generation can go for the right things, Nigeria will be a better place. There are still opportunities out there. We should create more platforms to encourage and help this generation to see their potential in the business world. That will create jobs and reduce robbery, kidnapping, killing, and corruption. I think it’s time to open up centres for young people to develop their skills and relate their dream to people who can help them find their way through.

‘Doubt kills dreams fast’

   

 

Chief Executive Officer, Lepus Global Contractors, Lawal Oluwapelumi

The 29-year-old Chief Executive Officer of Lepus Global Contractors, Lawal Oluwapelumi, speaks with MOTUNRAYO JOEL on how to translate one’s dreams to reality

What is the focus of your business?

Lepus Global Contractors is an environmental interior and exterior beautification company. The interior part of our business focuses on corporate blinds while the exterior part focuses on landscaping designs and maintenance, supply of flower pots, supply and installation of artificial grass and environmental cleanup.

Did you study Interior Design at the university?

No, I studied Geography at the University of Lagos, although I have always had a special interest in environmental beautification.

When did you start your business?

I started the business on June 6, 2012.

Why did you venture into that type of business?

The major drive for me in this business is my passion for beauty. Prior to starting the business, I attended LEAP Africa in 2005 and carried out a project in my community called Save a Scavenger where I visited a slum area and started creating awareness on a clean environment. In 2008, I started a community project with my mum called Initiative for Clean Environment which focused on environmental cleanup in which we would go out voluntarily on sanitation day to clean up the streets and encourage people with songs and slogans to keep Lagos clean. After this, I developed a new love for the environment and tried to analyse the knowledge, attitude and perception of people to waste management. In my final year, my project was an analysis of Geography education in waste management.

After my National Youth Service Corps programme in 2010, the fear of unemployment set in and I had to begin a new life in the landscaping and beautification business.

How did you start the business?

I started this business with my brother in-law. The business was to start in Abuja but I decided to return to Lagos because it is a familiar terrain as advised by my mentor. I managed to open a small office and went out to showcase what I do but I realised I needed some job samples to convince people. So, I got little contracts here and there with reasonable charges, printed catalogues of the jobs I had done and the rest is history.

My first contract was to supply six flower pots with the installation of an artificial grass round a swimming pool measured at 17sqm; it was a small job but a rewarding future profile. It was challenging but fun. I loved every bit of it.

Did you ever have any doubt about the business?

I have never doubted its success. Doubts and fears are the first killers of dreams; they are the viruses that spread to other connecting potential of the human makeup.

Do you agree technology has positively changed the entrepreneurial environment?

Yes, of course. Technology is the future of any country; industries need it the way we need water to survive. One major aspect of technology that helped me most is the real time landscaping software that opened my eyes to the modern trends of landscaping designs and management.

Did you use social media to develop your client base?

Social media is a tool of contact. I remember posting a window blind picture on facebook with my phone number and a client made an order from Abuja immediately; I was thrilled. Social media has been of great help.  I exchange a lot of business contacts on my BlackBerry Messenger. Even on the World Environmental Day, I sent a broadcast via facebook and BBM and I received calls for future business; this has given me a great hope for the future.

What are the challenges you have faced so far?

Challenges are part of everyday business. They are movers of the wheel of success. The major challenge I face is in the area of getting the government to believe in me. I’ve applied for so many contracts concerning community landscaping. I keep writing proposals but I have not got any government job. I will continue to try. I don’t plan to give up anytime soon.

Another challenge is that people do not value landscapers in Nigeria. They regard them as flower people. But since I have my own brand with a unique business face, I tend to change the perception.

Reeducating people that landscaping isn’t like farming has been a challenge too. They think because we dig the ground and plant flowers; we are farmers, but they fail to realise that both hard-scapes and soft-scapes are involved. Nevertheless, I believe business is all about packaging. One has to package one’s service well in order to win clients, especially because a typical Nigerian will think of his  belly first before thinking of flowers to beautify his home.

How much profit do you make yearly on this business?

The profit of the business so far has been reinvested. By the end of the year, the potential will determine how much will be declared.

What measures have you put in place to stay ahead of your competitors?

I try to offer my best even when I get a little in return; I believe one day someone will appreciate it. Sometimes, I use up my resources just to ensure that my clients are satisfied. In August 2012, I landscaped and beautified a portion of the road along old Ota Road at Oke-odo community in Lagos with my own resources since this was a corporate social responsibility. This goodwill earned me a letter of recommendation from Lagos State Packs and Garden Agency through the state Ministry of Environment. This award has given me an edge over my competitors as I am recognised by this agency and eligible to a contract in the future and other green initiative projects of the future.

What makes you different from others in this business?

The difference is based on my creativity and unlimited passion for the green future as I can go to a great length to sow a seed for the environment.

What are some steps you took early on to become recognised?

The biggest step was the CSR I did at my community to boost my profile and create awareness for the public.

What advice will you give to people wishing to start their own business today?

My advice for people who want to start this type of business is that they should first understand their chosen industry and have a mentor that understands and has experience in the industry. They should also understand the various business principles. Most business principles are applicable in all industries. They should also start gradually, as a little drop of water becomes a mighty ocean. Though I haven’t reached my mighty ocean, I believe I’m on the way. Above all, they should believe in their dreams with a great faith in God.

What are your thoughts on entrepreneurship for young people, especially in an economy where jobs are hard to find?

Young people are the hope of the nation. The problem of unemployment is affecting our dreams. That’s the reason many young people with talents travel out of the country. Hence, the need for the government to give loans to young people who want to set up small and medium scale businesses. Also, youths should start thinking technically because not everyone is destined to get white collar jobs.

Challenges are a vehicle to success — Olayeni

Mr. Kayode Olayeni

The Founder/Chief Operating Officer, Solution Point, Mr. Kayode Olayeni, tells IFEANYI ONUBA his experiences in a number of businesses including farm support, forex trading and Internet marketing

How did you get into the business world?

I started my business life with forex trading in 2008 and later ventured into a livestock/farm support business. Later that year, I became the sole distributor of an innovative product called D-skin protective disc skin. I was saddled with the responsibility of appointing major and sub-distributors in all the states in Nigeria.

In 2011, I started a brand development and an Internet marketing company for small and medium organisations. We provide advisory services for start-up companies, class branding, marketing and creative services for our clients without the kind of price tag charged by large agencies. We also offer services such as logo/brand development, web design and development, interactive/media presentations, business registration and online marketing.

Why did you decide to go into business and not a paid job?

My passion for creativity is the first reason for starting my own business. Secondly, I have always had the desire to proffer solution to challenges and problems around me at any given time.

The desire and determination to be in control of my own life and work in a company where I can apply and maximise the return of my most valuable asset also spurred me into setting up my own business.

How do you manage your business?

I have been in business since 2008. We make it our topmost priority to retain the interest of all stakeholders including our clients and vendors in order to operate a successful business. Our business efforts and activities are geared towards marketing. This is meant to bring in new clients. We also develop and deploy strategies and business models to grow the business. We try as much as possible to maintain good relationships with our clients, partners and manage them well. We develop and maintain winning business processes, procedures and systems.

Who are your target clients and how do you get them?

Our target clients range from established small businesses to new enterprises that cut across all sectors. Depending on the industry, we win new clients using a wide range of marketing approaches such as referral systems, joint ventures, advertising, direct mail, telemarketing and endorsement.

Is your business capital intensive?

I will say yes.  Every business requires a takeoff capital. But for me, I started out with almost nothing. There is a general belief that one needs money to start a business. But my opinion is that you need to possess the right knowledge and have the perseverance and dedication for a business for you to succeed. Being prepared to fail a few times is also vital to the ultimate success in any business. Most of the capital that will be needed is in marketing and for the expansion of the business.

What is your advice to graduates in search of paid employment?

Our school system has somehow narrowed the thinking of students, making them to believe that education only ends with the acquisition of good grades and using the certificate to look for jobs.

Our graduates should stop hoping that government will give job to everyone; rather they should put on their thinking caps and come up with ideas. No matter how small it may be, we should be thinking about generating jobs. The fact remains that every multi-national company existing today started with an idea and that idea became bigger over a period of time. So my advice is that they should engage themselves in such ideas and watch the ideas grow. The essence of being educated is to proffer solutions.

How can government encourage young people to embrace entrepreneurship?

There are several ways the government can encourage young people to embrace entrepreneurship but the most important aspects are through financing and giving opportunities. A lot of young people have ideas but limited opportunities have been the major constraint. For instance, if a young man who has his idea penciled out tries to approach a government institution for finance may be turned down, not because his idea is bad, but because the agency is asking him for documents that he will never be able to produce. He may be requested to produce tax documents for five years; some certificates for his properties and so on. All these make things difficult for people who want to go into business.

A lot of young people have started their businesses but got stuck midway because of limited funds with which to continue. Financial institutions in Nigeria will not give out loans to young entrepreneurs; rather they prefer to give loans to multi-national companies.

Since government is also responsible for formulating policies that will grow the economy, there is the need for government at all levels to be more involved in youth empowerment programmes such as skill acquisition, the creation of friendly business policies and micro-credit programmes that will help to provide funds after acquiring skills. What I have seen in my few years of being an entrepreneur is that a lot of people have the required skills but they do not have money to start their business. Some do not even want to acquire any skill because they do not know where to source for money after training. So, I think there should be a programme that can guarantee some form of funding for young entrepreneurs. It is only through this means that the government can discourage the people from spending years looking for white collar jobs instead of creating jobs for themselves and others.

What are the challenges that young entrepreneurs like you encounter and how do you tackle them?

Without challenges, there is no entrepreneurship. Business is born out of challenges; it is the bedrock of great entrepreneurs. So, I see challenges as a springboard to success. In Nigeria, there are many challenges for any entrepreneur. In my case, I faced and I am still facing a lot of challenges; but the biggest of them is finance. Financial challenge can derail the company’s expansion plans and lead to reduction in quality of products (commodity goods and house products). You are denied the opportunity of employing additional hands.

These challenges can be addressed by looking inwards and thinking up ideas of how to raise capital from friends, family members and other people in your areas who are financially buoyant.

I will advise that government’s policies should be geared towards making it easy for small businesses to get loans from banks and other financial institutions.

What are the key investment principles young people in business and those aspiring to go into business should imbibe?

Well, the first thing I will say is that you should not eat all that you have got; there is the need to save some for the ‘dry season’. A lot of young people have some money in their bank accounts and they go to their banks to withdraw every time they run out of cash. This is a wrong thing to do. You should spend the profit that accrues from the invested sum to expand the business. Entrepreneurship is not an escape route from skilful work; it is more about developing the business skills to be able to survive in this terrain. Entrepreneurship involves hard work and creativity.