‘Nigeria, a country where a man can turn N500,000 into $20bn’

Sijibomi Ogundele is the Chief Executive Officer of Sujimoto Construction Limited. At 34, he is a billionaire with various investments, and entrepreneur with a difference. He speaks in this interview with DOYIN ADEOYE about his business and style. Excerpts:

You recently delivered luxury estate, Medici Terraces, in Ikoyi, just within few months of your operations in Lagos. What did it take to put it all together, judging from the fact that it was sold out in record time?
The Medici Terraces was a successful project because we were true to our words of setting high standards, paying attention to details and not compromising on quality. We used the best raw materials, the best team and inputted outstanding features in the property. The facility management and concierge service, which is a subsidiary of Sujimoto Group, handles the day to day running of the property, giving residents the ultimate experience that cannot be derived anywhere else.
Our business mantra is “Build It, Sell It, Manage It.” So we always aim to exceed expectations in all three aspects. My main focus was to create the most beautiful town-house property in a choice area on the island in Lagos, and I dedicated all my effort into generating quality and value; ignoring immediate gratification.

What exactly would you say are the setbacks to the development of the real estate industry in Nigeria?
A few things come to mind as the setbacks to real estate development. The craftsmanship, lack of technical know-how, the significance of expertise and proper training are undervalued in Nigeria. As a result, finishing, quality and attention to detail are compromised.

If we want to compete with foreign developers such as the Germans, Lebanese and Italians that have spent decades mastering their craft, we will need to raise our standards in the Nigerian construction market. When people refer to quality as being expensive, I always correct them saying it’s not; what is expensive is our intention to deliver quality.

How would you describe LorenzoBySujimoto?

Lorenzo is an unveiling of world class hospitality, bringing a redefinition in high value residential structures, comprising of two to four bedrooms and a fascinating addition of penthouses with private swimming-pools.

Nigeria is fast growing as one of Africa’s ideal locations for investors and this is a big focus for us at Sujimoto Construction. With “LorenzobySujimoto,” we cater for those looking for a property that suits their lifestyle, and investors aiming to yield high returns. The project promises to be the first of its kind, delivering a plethora of top class quality and design. Very few properties would be comparable to the Lorenzo in terms of architecture, finishing and features. Off-plan buyers would gain the opportunity to buy at a fraction of the prime market price, propelling their return on investment.

You recently met with the Prime Minister and Vice President of the United Arab Emirates and Emir of Dubai, Mohammed bin Rashid Al Maktoum. What was the defining moment of the meeting?

The defining moment for me was the advice and words of encouragement I received directly from a man of great vision who I have looked up to for so long. He made me understand that the sky should be my starting point and I should never limit my dreams if I’m ever to embark on something. It is an encounter I will never forget. I had previously shared my dream for Lorenzo with someone and the advice I got was “...be careful, this is Nigeria, this your dream is too big, take it easy...”, yet a King who knows virtually nothing about me gave counsel that has filled me with hope and encouragement to go beyond the limit.

You’re looking forward to seeing business tycoon, Aliko Dangote, as the richest man in the world by 2020. What influenced this prediction?

Because I believe it is very attainable for a man that has demonstrated such an industrious capacity. He was able to utilise the resources and opportunities available to him beyond measure to succeed which cannot be said about a lot of wealthy individuals who may have found themselves in his position at some point in their lives. He is an uncommon individual that did not rest on his oars but kept pushing till he got to where he is today.

What do you think are the most important personal skills someone must have to be successful in business?

Diligence; the ability to constantly push yourself to be ten times better. One must also have the capacity to set priorities and execute responsibilities. I have applied it to everything I do and I must say that my life changed totally.

What would your business advice for young entrepreneurs be?

Young entrepreneurs should take hold of their destiny and start looking for opportunities surrounding them. Nigeria has been highlighted as one of the next economic giants with reference to the MINT Nations analysis by Goldman Sachs. We come from a country with a vibrant population of 170 million people who are natural entrepreneurs.

Nigeria is a country where a man can turn N500, 000 into $20bn. It is very simple. You have to be relentless, unwavering, hardworking and determined to achieve business success. One of the biggest causes of failure is distraction and allowing the wrong people influence you. Can a Mechanic advice a Doctor in affairs of medicine? You have to constantly remind yourself that people’s opinion are far from your reality and God’s extraordinary plan for you.

One would think that having acquired this much at 34, that you were probably born with a silver spoon. What kind of upbringing did you have?

On the contrary, I was not born with a silver spoon. I was born in the suburbs of Agege and grew up in the ever busy Idumota market where my mother was a trader. I am blessed to have been brought up by a woman who is an astute business woman. At a young age she was sent to Cameroon as a sales girl and rose to become one of the top 5 distributors in Nigeria for Nestle Plc.

Having this kind of mother who achieved more with less, inspired me to become the kind of individual I am today. I have zero tolerance for failure; hence my broader understanding of true possibility and optimism.

How do you indulge yourself?

I love reading and learning new things every day. It has become a habit. I push myself to expand my knowledge and capacity in order to be best that I can be. I am also a lover of chess; I believe it is the game for champions.