By Ayo Alonge

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Ace entrepreneur and  MD/CEO of O’Naphtali Company Limited, Eniola Fayose   believes  every entrepreneur worth his salt must keep upgrading himself on latest trends in his chosen industry. This is the driving force of   the Ekiti State born businessman and University of Ibadan graduate who is also a custodian of degrees from NIIT, Lagos Business School and the Netherlands. He’s a Fellow, Quality Management Development Institute, Fellow and Council Member, Institute of Direct Marketing, Fellow, Institute of Chartered Management Accountants and Fellow, Institute of Brand Management of Nigeria.

In this interview, Fayose, who sits atop a conglomerate, says he’s not related to Governor Ayodele Fayose of Ekiti State contrary to the rumour mill. He tells his success story in business, while baring his mind on issues bordering on entrepreneurship, business and the economy.

Going by your qualifications, you seem to be more interested in academics than business. Correct?

Yes, I go on acquiring knowledge just to make myself better positioned with trends in business. Well, in education, I still see myself as far below a lot of sons of Ekiti. I remember that my HOD in school who is also my uncle told me that with a university degree, you are just a little above an illiterate. You know that’s what an average Ekiti indigene is known for. In the industry, I have found out that if you are not up to date, you will be lagging behind and that’s why you see me bagging different certifications, just to be up to date with latest trends in the industry. 

The name Fayose rings a bell. Are you related to the incumbent governor of Ekiti State?

Well, the name Fayose is an Ekiti name. But then, I am not in any way related to the governor. I am from Ikere-Ekiti and his Excellency is from Afao-Ekiti.

How has it been for you, sitting atop a conglomerate, and a household name within the business clique of this country?

Sometimes, it appears rosy and sometimes it looks quite tough. The Nigerian factors are there including the environmental factors too. We have been sailing on smoothly but not without the corresponding challenges.

Could you tell us some of these challenges?

You must always put a lot into consideration. The major challenge we face is power. Ours is an industry that thrives on power. Other challenges that stare us in the face include unstable exchange rate and importation of raw materials, because most of the materials we use are petroleum byproducts. The problem arises when the necessary infrastructure doesn’t allow those that would have started up to do so, maybe due to one unfavourable government policy or so.

When you were starting up, what impact did you hope to make on the economy?

On this particular aspect of the business, that is the scratch card printing hologram application. We started in 2004, when the government banned the importation of scratch cards, asking us to look inwards. I did not have the needed funds but I realized I could actually do this locally by tapping into my knowledge base as a Java and SQL certified programmer. I then partnered with a friend. For the first order we got, we used local inputs and that was how the demand started coming in gradually.

Would you like to talk about the stages of growth you had to pass through before today?

As I said, I started small, but then, I can’t start comparing myself to some others, because I wouldn’t know what others have passed through, but it’s more of determination and dedication. In spite of all the challenges, you are glad you are able to keep climbing up the ladder.

Most investors complain about the recession and they soon close shop and probably relocate to another country. Is there a likelihood of you closing shop too should the recession persist?

No, we can’t because we keep launching into different possibilities. We don’t rest on our oars and we keep trying to do better. For instance, there is a level of scratch cards usage that hasn’t been explored and that’s the direction we have just delved into, apart from scratch-and-win promos, telecoms cards, examination online registration scratch cards, and so on. We have also launched the lottery and gaming scratch cards, authentication label cards for medicines and also the peel off cards. We have been sustaining this line of the conglomerate for years now.

One is tempted to believe that the present recession is not adversely affecting your conglomerate. Is that true? 

Well, if we say we are not being affected by the recession, how about the people that we provide the service for? We are a service provider and we are not an island on our own. 

You were once quoted to have employed over 150 people in this particular line of business. How did you achieve that?

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In fact, we could have employed more but for some challenges. We could have employed over 500 people but then, we are achieving that very soon, so we can reach out to many. We can conveniently employ 1,000 people and we are achieving that very soon.

What’s worth knowing about the scratch card manufacturing industry?

It’s a growing industry. Another of our printing plant is moving on well. That focuses on the hologram, authentication and graphics for pharmaceutical companies and other sectors too. So, many aspect of scratch card production is very ripe, right now, but then, the potential is yet to be fully satiated.

As a country, do you think we have the necessary technology to promote the industry in this part of the world?

If there is ease of importation of inputs we can always do better. Only that it’s capital intensive. It could be much better but we are getting there. A lot is happening already.

What enduring lessons can young entrepreneurs learn from your success story?

Number one is that once you have a plan B or an alternative, you have already failed. Focus creates blindness and once you fix your eyes on other plans, you have failed. You must be ready to always give it what it takes, when you know the value of little beginnings. At each stage you pass through, you must avoid cutting corners and by that, you gradually move to success. Failure arises when people start cutting corners. Stop comparing Nigeria to America. We are not there yet. And when God is by your side in your youth, you can overcome all the challenges on the way. The business is capital intensive but can be very profitable.

What does the future hold for the scratch card vending industry?

Oh! The future is very robust for it, especially now that we are gradually getting out of recession.

Would you mind talking about other line of businesses you are into?

A whole lot of them but recently, we started up a flexography plant where we do labels for beverages, engine oil and bottles. We have a line for airline tickets, boarding passes, baggage tickets, flow lines and so on. We keep trying to expand, so we don’t get caught up in the sea of the recession. We are bringing in experts from abroad and we will also employ more Nigerians in the production process. This is our country you know and we must always employ our people. 

What’s your take on the tendency of most Nigerians patronizing more of foreign goods and services than made in Nigeria brands on the excuse that they’re superior?

You see, I laugh when people say China produces more of substandard products. That’s not true. It’s what you want that you get. The problem is that quality seems to be eluding Nigeria because we don’t have a solid internal quality control regulatory system. When we have a parameter for measuring quality, there is no reason anyone would not patronize made in Nigeria products. I am a staunch believer in Nigerian products and that’s why I have not left this country to invest elsewhere. We have to pour in our energy here so as to get adequate returns on investments.

As a country, how do we begin to address the goal of trying to promote made in Nigeria brands given the aforementioned?

It’s through an efficient quality control system, enacting right laws and policies, adequate empowerment, creating an enabling environment, which includes helping SMEs to thrive. That’s how we can get there.

What don’t people know about you, aside being in the limelight as a core entrepreneur?

I think most people don’t know that aside being a core businessman, I am a deacon in church and again, I don’t drink milk.

Would you ever dabble into politics any time in future?

Well, for me, I believe in divine direction. If I hear a voice behind me saying “this is the way” and I confirm it is the voice of God, of course, I would gladly follow it but for now, I would rather stick to what I know and keep excelling in it. 

Where do you see yourself in the next five years?

I want to be a thousand times bigger; at least, a thousand times bigger.