ENTREPRENEURSHIP EDUCATION WILL HELP TO BUILD SUCCESSFUL BUSINESSES IN NIGERIA, FRANCIS OGBORO ADVISES
by Oki Samson
Alh. Francis Ogboro in an exclusive chat with Oki Samson; Editor, Trek Africa Newspaper
The name Francis Ogboro is a household name among the crème de la crème of the Nigerian society. The reasons for this is not farfetched. His forays in the world of business and commerce has been attended by success in the past three decades. His love for horse-riding as led him to push Polo as a top sport in the country attracting wide support base among the high and low, high patronage and sponsorship of international and local corporate brands. He is currently the President of Nigeria Polo Federation, a position he has held since 2010.
The high-ranking industrialist, reputed for his robust erudition and free-spiritedness to associate with people of varying spheres, cultures, and religions, is an ally of many political bigwigs, notably Gen. Ibrahim Babangida (retd.) amongst others. He was recently conferred with the coveted Dan Darman Kabi chieftaincy title of the Argungu emirate by the Emir of Argungu, His Royal Highness, Alhaji Samaila Mohammed Mera.
The conferment of the chieftaincy title is more so unparalleled for the illustrious son of Igarra, Edo state as he is the first non-native of the kingdom to be donning the title after about 530 years. This is no doubt a great attainment in the life of the business mogul as he states ‘It is a recognition which I very much cherish.’
The man who is simply an interviewer’s delight provided useful tips for enterprising youths in this insightful interview with Oki Samson of Trek Africa Newspapers.
This is worth reading for young entrepreneurs. Enjoy!
L-R: Alhaji Francis Ogboro Receiving Award of Lifetime Good Leadership from Project Director, Trek Africa, Mr. Oki Samson at his Victoria Island Office, Lagos.
Trek Africa: Can we meet you?
Ogboro: I am Alhaji Francis Ogboro, Dan Darman Kabi of the Argungu emirate.
Trek Africa: You are undoubtedly a successful entrepreneur, how can youths maximize their potential for economic growth?
Ogboro: I have had opportunities to advise Nigerian youths on entrepreneurship but I found out that many of them want to get rich quick. As a result of that they go into ventures that will tarnish their image and ruin them for life. Some that have tried to emulate us have become successful people in Nigeria today. I have not just mentored youths around me alone, every time I get the opportunity to talk to youths I have always told them to open their eyes to possibilities that can make them better their lot, and I always charge them to be honest and hardworking in their endeavour. Those two factors contribute a lot in bringing about success in business, the element of luck contributes too.
Alhaji Francis Ogboro Honored with “Lifetime Achievement Award In Good Leadership” by Trek Africa Newspaper.
Trek Africa: Is finance a key factor to starting a business?
Ogboro: It is definitely a key factor but the drawback to that in Nigeria today is the interest rate. No beginner can pay an interest rate of 28% – 30% and be able to cope. The government has tried in many ways to help the startups and young businesses to have loans at about 9% from Bank of Industry but even that is still high for a starter. I hope that government will be able to come in other ways to help the youths especially if they go into agriculture and the Bank of Agriculture is able to give loans of low, single digit. There is also the issue of banks asking for collateral, where does a startup get property to use as collateral.
Trek Africa: What is your advice to youths aspiring to entrepreneurship?
Ogboro: You start small on your own, and if you are able to prove your track record in the business you will get bank support. I will also advice that they look at avenues like Bank of Industry and Bank of Agriculture.
Trek Africa: Do you think entrepreneurship should be part of curriculum in tertiary institutions?
Ogboro: It has become necessary because it will benefit students in universities, polytechnics and colleges, as many people that are in business today do not have the proper studies in business. It will help greatly because you will see some youths work for three years on a job and tell you they quit to start their own businesses, some are lawyers, accountants, and so on and have gone into various businesses because they believe they will do better running their own business. The studies are important in view of this.
Francis Ogboro: I’ve eye for quality and good things…
Trek Africa: Tell us about the turbaning?
Ogboro: I thank the Emir for conferring on me the title. It is a title that started in the Kano emirate and that is usually conferred on the sons of the Emir and that is like the position of the Minister of mineral resources. In the olden days, they traded in metals, gold, diamond, that is what Dan Darman stands for. It was conferred on me in Argungu, Kebbi state. I am not an indigene of Kebbi, travel from my town to Kebbi is probably two days by road well over 1000km. So to be recognised in such a faraway place means a lot because I do not hail from there, yet they find me worthy to have the title. It is a position that has never been given to anybody outside of the emirate, the last time that was done was about 530 years ago.
It is a recognition which I very much cherish. I express my gratitude to the people of Kebbi state. I will try and contribute to the state especially in the area of trade. As I speak to you, we are looking at availability of land for us to grow tomatoes in commercial quantity to boost economic activity in the state. We will support and create employment opportunities there.
Francis Ogboro: We’re looking at availability of land for us to grow Tomatoes in commercial quantity to boost Economic activity
Trek Africa: A lot of people know you as socialite?
Ogboro: I think I do a lot more than socializing. I am known for my business life than socializing. The socialising that I do is when I honour friends and business associates at weddings, birthdays and so on.
Trek Africa: I am talking about your fashion sense?
Ogboro: Well, maybe that’s what catches people’s attention. I have the eye for quality, I like good things.
Trek Africa: How do you relax?
Ogboro: I relax with my friends, we watch football. I still ride horses from time to time. I wear my track suits, take a stroll across the Ikoyi link bridge. That’s relaxation for me.
