Special Assistant on Media to the President of the Association of Nigerian Licensed Customs Agents (ANLCA) and Chief Executive Officer of Sula Marine Services Limited, Ayokunle Sulaimon in this interview with Shulammite Olowofoyeku and other journalists shortly after the commissioning of his multi-billion-naira Sula Royal Premium Complex Limited in Ikorodu, Lagos on Sunday explained the motivation behind his investment.
He speaks on business diversification, the challenges encountered during construction, the role of professional mentors, plans for expansion and the employment opportunities created by the project.
Excerpts:
You have celebrated two major milestones today: the commissioning of this impressive complex and your conferment with a religious title. What inspired you to diversify from customs brokerage into the hospitality and recreation business?
It is not far-fetched. For every businessman, diversification is one of those things you cannot avoid.
If you are dealing in seasonal products, your survival depends on having other products that can sustain you outside the peak season. For instance, if you are into the production of rain boots, your business will naturally experience higher demand during the rainy season. You must, therefore, think of other products that can sustain the business during the dry season.
Clearing and forwarding, or customs brokerage, is no different. Sometimes business booms, but there are also periods when activities decline. At a certain stage of maturity, when your business is doing well, there is nothing wrong with investing wisely to prepare for the lean periods.
This investment is also connected to some of the things our leaders have consistently encouraged, particularly Prince Olayiwola Shittu, President Emeritus of ANLCA, who has always emphasised the importance of fitness and wellness.
Our job as customs brokers is largely field-based. Sitting in the office is mainly for planning but the operations usually take place outside. After going through the demands of the job, you need facilities where you can relax your muscles and maintain your physical fitness.
That informed our decision to establish a massage centre, a modern gym and other wellness facilities. You must remain fit to continue performing effectively; otherwise, you may retire before your time.
We also introduced a spa, particularly to cater to the wellness and beauty needs of our female customers. We have made provision for discounted rates for all ANLCA card-carrying members. Once you are a registered member, you will enjoy reasonable discounts.
Our objective is to encourage members of the association and other professionals in the industry who are considering diversifying their investments.
Which individuals within the maritime industry have particularly inspired and encouraged you to venture into this business?
There are quite a number of them, but one of the foremost is the Vice President of ANLCA, Prince Segun Oduntan. He is a motivator par excellence.
During the construction of this facility, he visited more than 20 times. His visits were primarily to encourage us to keep going. Even when the prices of building materials skyrocketed, he advised me not to look back but to keep pushing until we reached our destination.
What we have here comprises almost seven buildings, each serving different purposes. Without encouragement, there are times when it could become difficult to continue.
Our President, Sir Emenike Nwokeoji, whom I serve as Special Assistant on Media, also visited several times and consistently encouraged us. He is a sportsman and an accomplished golfer who believes in encouraging not only me but other upcoming ANLCA members to diversify their investments.
There is nothing wrong with diversifying into other businesses or becoming an importer. In fact, in the Funcity section of this complex, I am both the importer and the customs agent. I ensure that the appropriate duties are paid to the government. I will not shortchange the government.
Other industry leaders, including Prince Taiwo Oyeniyi and Oye Ariyo, have also demonstrated that there is life beyond customs brokerage by investing in other business ventures.
Given the volume of maritime activities in Apapa, are there plans to establish another facility there to serve members of the association and other customers?
For every forward-thinking businessman, expansion should be one of the cardinal objectives.I am already considering expanding to Port Harcourt because Sula Marine is not a new name in the system. I believe our members will patronise us.
Apart from Ikorodu, we have plans to establish similar facilities in Apapa, somewhere around the airport and in Port Harcourt. These are part of our long-term expansion plans.
This is a multi-billion-naira investment. When did the project begin, and how much did it cost to bring it to completion?
The acquisition of the land and other initial processes began immediately after the COVID-19 pandemic, around 2021. Today, we are grateful to God that we have reached this stage.
As for the actual cost, honestly, it is not something I can readily put a figure to at the moment. We encountered several additional expenses and unbudgeted costs during the construction, which we had to accommodate along the way.
What were the major challenges you encountered during the construction of the complex?
One of the major challenges came from the state government. We encountered difficulties even while we were still at the foundation stage, despite having gone through the necessary processes and procedures.
Meeting all the requirements for building approval and documentation was quite demanding. At some point, the Kabiyesi had to intervene, appealing that we should not be subjected to unnecessary difficulties because the project would bring development and create employment opportunities for the community.
He encouraged the authorities to allow due process to take its course, and we complied with the necessary requirements.
Another major challenge was the constant fluctuation in the prices of building materials. The inflation became so severe that it could discourage anybody from continuing with such a project.
However, we remained determined, kept pushing and, by God’s grace, we are here today celebrating its completion.
Now that the project has been completed and commissioned, how do you feel?
I feel blessed and happy. I feel that we have survived the challenges, and I am grateful that we have come this far.
I also believe that after this achievement, greater things will follow.
What advice would you give to customs agents and other entrepreneurs who aspire to invest in businesses outside their traditional areas of specialisation?
During our feasibility study, we discovered that the facilities we intended to establish were largely absent in the community.
For instance, there was no modern facility combining a gym with a swimming pool, where members could enjoy the benefits of both activities. When you register as a gym member here, you also have the opportunity to swim twice a week. Swimming is an aerobic exercise with several health benefits.
Our spa is also designed to provide quality wellness services. Bringing all these facilities together in one complex was something we believed the people of Ikorodu needed.
That was why we conducted a feasibility study: to understand the needs of the community before deciding what to invest in.
My advice to anyone aspiring to establish a similar business is to conduct a proper feasibility study. Identify the needs of the people and do not venture into competition with businesses or facilities you cannot sustain.
When we started, some people questioned the wisdom of bringing all these facilities together and wondered how we would sustain the business.
Even I sometimes wondered whether we would eventually get to the stage of commissioning the project. But today, by God’s grace, we have overcome the challenges.
You have also been conferred with the title of Allakoso Adeen of Igbogbo Central Mosque. How do you intend to use this position to contribute to the development of the wider community, beyond the Muslim population?
You could see that during the opening prayer at the commissioning, we had representatives of the Muslim community, the Christian community and the traditional institution. This facility is not meant for Muslims alone. It is for everybody, irrespective of religious affiliation.
Even in our recruitment process, we did not give undue preference to either Muslims or Christians. We recruited based on competence, while giving priority to qualified people from the immediate neighbourhood.
Our intention is to ensure that the facility serves the entire community and contributes to its development.
How many people have been employed so far, and what is the employment projection for the facility?
We have a projected workforce of more than 200, but the first phase of recruitment has commenced with 45 employees.
The second phase is also in the pipeline. As the business grows and expands, we intend to create more employment opportunities.
We are equally looking at acquiring additional locations as part of our expansion plans. That is the direction of our vision.
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