Interview with the Chief Executive officer of Kabiyesi Motors, Mr Jaiyeoba Folajoba on the automobile business in Nigeria.

Interview with the Chief Executive officer of  Kabiyesi Motors, Mr Jaiyeoba Folajoba on the automobile business in Nigeria.

Question: Why car business?

If you look at the Nigeria of today you will know that you need something to motivate you to push on with life otherwise you will easily get discouraged.
For example, if you are to go for a contract appointment and you get there late or you do not have a good car in place to take you it could mean the end to that opportunity.
When you are driving your own vehicle ,there is always a feeling of joy as it allows you to be able to think with a clear cut mind set.
In this part of the world due to our prevailing circumstances ,owning a car is considered as a status symbol  and I tell you that no matter how brilliant you are if you go to an event on mere foot you will not be recognized .

Question: How long have you been passionately attached to the automobile sector?

When you move  around you see a lot of cars that have broken down, I used to wonder whether there was no quality car  available in Nigeria.
It was in  the course of my study on the automobile industry that I discovered that Peugeot  was the best. The fuel efficiency is very high  and at 1.5 litres of oil it can drive you to a distance like Ibadan in Oyo State.
I  began to tell myself that if Peugeot can give up this unique selling point  then I do not mind going into the trade on a full time basis.
Most of our top line executives travel by air because they feel that the roads are very bad but I tell you that if you use a good   car like a Peugeot you do not need to go by air at all cost.
I wanted to study aeronautics engineering but for poor funding and this was why I now decided to venture into auto -business .

Question: How has it been setting up your own business?

If you do not have an asset  or loans  then you will not be able to get to the top, the kind of system we run does not really look at what a man has to offer.
Recently , the Federal government started a project called “YOU WIN” and I submitted my application towards the project  and was eventually shortlisted .
We went for the seminar for a week in Abuja but after this we heard that they will give us a loan worth N10 million   but after this I did not hear from them again.
In setting up a garage ,you will need  a  good land facing a  main road ,you will need at least N5m to acquire your license from a manufacturing automobile company  and maybe you will have to put aside another N2m for workers welfare in the first year.

Question: Have you gotten any form of support so far?

All I have with me now is our company’s certificate of incorporation, though I have heard of people saying that some people may want to invest as venture capitalists but I have not gotten such a break through  yet but am still praying and searching.

Question: What is the future of the automobile sector in Nigeria ?

It has a bright future as a lot of people want to be mobile ,as you are bringing in new products and services you will need a transport platform to distribute them into different locations.

Question :Are there people like you who started the hard way?

I will not like to mention names but there are so many out there in the market place that started with absolutely nothing.
I know that the Federal government  was sponsoring people for training at Peugeot Automobile Nigeria Limited and from there onwards the graduands were given soft loans to start up a business on their own.
But nowadays things have changed as the reverse is the case as you now have to fight for yourself.

Question: Your interest seems to lie in Peugeot ,why is this so?


This is because they actually trained me and if I decide to sign any form of agreement with them I will have to display their products in front of my show room or warehouse.

Question: Is it possible to do other auto-deals ?

It is very possible and in our current proposals we are looking at Nissan, Kia, Toyota and Ford vehicles.



Question: How do you intend to market Kabiyesi Motors?

We intend to be special ,our first strategy is that we want to visit all the palace in the Federation and meet with all the major monarchs for networking sessions.
Our agenda is that we will want to bring back the glory of Peugeot to Nigeria , we want to make sure that every Nigerian has a Peugeot brand in his garage.
It is a vehicle that I do know that is good for somebody   that is coming up very strongly in life as it will help you to save for other things.
We want to partner with the press so that all the potentials inhibited in us will be revealed to the general public ,we intend to organize auto-fairs  which will help us to raise our profit margin.

Question: Are there Non-governmental organization that are willing to support your philosophies?

I am not aware of any charity organization that is supporting budding entrepreneurs in the field of automobile.
How do you intend to survive the politics of the automobile sector?

Since Peugeot is an Federal government  assisted project ,it then means that we will be working with vital security organs of the state in the course of carrying out our business and with that in mind we can do our auto affairs without any form of hindrance.
We are also thinking of how we can partner the GSM providers  and see how we can do things together .
Question: when do you hope to open your garage to the general public for business?

As soon as we have a breakthrough in the field of   finance we will be able to open up our own garage, the source of our financing at the moment is personal.
Apart from what I put in on a personal basis, I also get support from some of my close friends purely due to goodwill.

Question: Are you frustrated by what you have seen so far?

I am not in any way frustrated because am not the only one that has passed through this rough road before ,if God opens a book for you it will remain on but if you help him to open a book then you will regret it.
Latex Foam fights Vitafoam for Nigeria ,West African market Vitafoam Nigeria will have to brace up for a fierce challenge on the local and the sub-regional market due to the assault of Ghanaian manufacturing giant ,Latex Foam.
Investigations on the matter in Lagos, Nigeria revealed that the Ghana firm has finally decided to confront the business strength of their rivals.
A source at Sunbird African Media who will not want his name in the print said in a terse reply to enquiries on the matter that Latex Foam indeed was renewing its strength to battle for a chunk of the Nigerian market and the sub-regional market as well.
Vitafoam Nigeria Plc owns at least 90 percent of Vitafoam Ghana Limited with the company producing flexible, reconstituted and rigid foam products to the consumers, Latex Foam Ghana Limited on the other hand has presence in Niger Republic and nearby Burkina Faso where they have maintained a strangled hold on the respective markets aside from their pole  position in the Ghana market where they are the undisputable market leader.