Mr Oyefusi Olayemi Samuel is the Chief Operating Officer (CEO) of Salyemic Ventures. In this interview with TOPE SUNDAY, he speaks on why some local paints can’t compete with other international brands.
For your years as a manufacturer or industrialist, what are the challenges you encounter in terms of government policy?
Firstly, lack of capital to start manufacturing cannot be overemphasized. I could remember vividly when I got my first contract to produce varieties of colour within a specific time but because of lack of capital, I could not meet up with the time limit because of no fund to get the necessary equipment to work.
As for the government policy, it has not been favourable, government should reduce the criteria for getting registered as a manufacturer, it took me close to two years before I could get all the necessary registrations done. This will make more talented youth to come out and contribute to the growth of the nation.
Having checked for the quality of spray which made it of international standard and the dryness of Precious coat is of good quality which has made the Standard Organization of Nigerian (SON) to certify the products for use in homes and organisations. We focus more in Abuja and its environs to see that the product is well acceptable before we spread to other part of the country.
Our products have been used in the Supreme Court of Nigeria, US embassy and Gwarinpa Estates to mention a few. This feat has made our product to be acceptable.
How do you cope being a local paint manufacturer?
Well, I made my product to be of international quality just like Berger paint, Dulux etc. People value international products because of the quality of materials being used to make it, while Nigerian products, not that they are not good, but we make use of cheap materials to maximise cost.
We have as many quality paints money can afford. I can tell you with just.
Meanwhile, it is not that Nigerian products are not good but people value foreign products more than Nigerian products because of the quality. This has made Nigerian products to be valueless which has caused some manufacturers to add some cheap substances to their products just for them to make money.
But with our product we will give you the best with your money because our product is the best in town.
I believe in God, so in the next five years, I see Precious coat to be well acceptable for global use with the support from people around me and the government so that I can give back to the less privileged.
Nigeria is gifted with best resources which will fit in for international standard, so I believe Precious coat come five years, we will be of international standard.
As a young industrialist, what do you think the government should do to encourage people like you?
During my school days, there was one of my school mates who was working on solar panel satellite dish whereby the dish could capture solar from 6am till the sun rise but eventually he became a photographer. This was because nobody wanted to sponsor his innovative idea.
There are many talented youth out there but because there is no room for encouragement from the government they become wasted.
Government should make provision for empowerment to encourage these youth so that the country can be a better place for us to leave and perhaps we can meet up with the developed countries in term of standardisation.