Category: Business Day

Bolaji Balogun, CEO of Chapel Hill Denham, has shared strategic guidance for entrepreneurs aiming to build sustainable businesses in Nigeria and Africa.

He presented the growth strategies at a recent Worldwide Alumni Celebration of the London Business School (LBS), Nigeria chapter in Lagos, themed ‘Africa’s Builders: What it takes to start, grow and scale.’

He noted that Africa’s demographic advantage lies in its rapidly growing young population, which he says can boost economic growth by creating wealth through entrepreneurship.

Balogun shared the insights based on his 35 years of inspiring entrepreneurial journey and working with other successful entrepreneurs who built from scratch to big conglomerates on the continent.

In starting a business, he advised start-ups to have a big vision, clarity about the unique problems they intend to solve, discipline, financial prudence, and lots of experience.’

‘You must have a big vision and be clear about the problems you are solving when starting a business,’ he said.

‘The other thing that you’ll find common is that you need tremendous discipline around consistency in execution. It’s about financial prudence, operational rigour, and you will also need a lot of courage when you start,’ he explained.

He emphasized that starting a business requires experience, urging start-ups to have working experience before launching into entrepreneurship.

‘Experience is important as it helps you learn the business and the fundamentals properly. It helps you understand the structure, margins, customers and markets and how brands are built,’ he said.

In growing a business, Balogun says that growing a business in Africa requires the ability to identify, hire, and retain high-quality people over a long period. He noted that aggression is needed to grow any business, saying, ‘When you look at the entrepreneurs that have succeeded around here, they all have a mean streak around them, whether it’s Aliko, or Aigboje and the late Herbert of Access Bank, or Tony of UBA. Every single person who has built something here invariably has a bit of aggression.’

‘If you don’t have a bit of aggression, go home. Aggression is necessary for three simple reasons. It’s about the ability to make decisions quickly.’

‘It’s about the ability to process a lot of information and be clear-minded through that process and to be able to make the right decisions quickly.’

He stressed that having aggression ensures not making a mistake because it provides the ability to pivot when necessary and the swiftness to react to opportunities that are available all the time.

He urged startups to establish structures that promote accountability, transparency, ethics, and governance discipline.

In scaling a business, Balogun says the business must have had a significant community impact and now be focused on a broader stakeholder community.

He urged entrepreneurs who want to scale their businesses to ensure that their corporate governance is stronger, they understand the power of the capital market, they understand sustainability, increase employee training, reinvest in the business, think long-term, and continue the quest for excellence.

The event also included a panel discussion on what it takes to build a regional and continental business in Africa and practical advice on how to grow and scale businesses successfully was offered.

The panelists include: Adedotun Sulaiman, chairman, Parthian Partners Ltd; Roosevelt Ogbonna, group managing director, Access Bank; Kathleen O’Connor, clinical professor, LBS and Olumide Soyombo, co-founder, Bluechip Technologies and Voltron Capital. It was moderated by Rolake Akinkugbe-Filani, CEO, EnergyInc Advisors.

ýTo mark Nigeria’s 65th Independence anniversary, Ademola Adeleke the governor of Osun State has granted amnesty to 36 convicts currently serving sentences at the Nigerian Correctional Service facilities in Ilesa and Ile-Ife.

ýThe gesture, according to a statement by Mallam Olawale Rasheed, the governor’s spokesperson, was made in line with the powers conferred on the Governor under Section 212 of the Constitution of the Federal Republic of Nigeria (1999 as amended), follows the recommendations of the State Advisory Council on Prerogative of Mercy.

ýAdeleke, in a proclamation issued under his hand and the Public Seal of Osun State, dated September 24, 2025, declared that: ý’WHEREAS, the Governor of Osun State of Nigeria has granted amnesty to the convicted persons listed and attached hereto, who are subject to the jurisdiction of Osun State; NOW KNOW YE THAT I, Senator (Dr.) Ademola Jackson Nurudeen Adeleke, the Governor of Osun State of Nigeria, in exercise of the powers conferred upon me by Paragraph (a) Subsection (1) of Section 212 of the Constitution of the Federal Republic of Nigeria 1999 (as amended), and acting in accordance with the Advisory Council of State designated under Subsection (2) of the said Section, am graciously pleased to extend my mercy to the said thirty-six (36) convicts.

ýý’By this act, I remit and release unto them all pains, penalties, and punishments whatsoever that may have accrued from their convictions, and I hereby require all to whom it may concern to take due notice thereof. AND FOR SO DOING, this shall be a sufficient warrant. Given under my hand and the Public Seal of Osun State, Nigeria, this 24th day of September, 2025.’

ýOlawale further revealed that the beneficiaries include men and women convicted mostly of minor offences such as stealing and conspiracy, many of whom had served substantial portions of their sentences. ýFrom the Ilesa facility, those pardoned include Kehinde Ganiyu, Isiaka Mohammed, Oluwatosin Femi, Adebisi Adeniyi, Rotimi Paul, Oyewole Sunday, Ojo Adewale, Tajudeen Ridwan, and Jokotola Quadri, Akinola Taofeek, Onibukun Adebisi, Azeez Afeez, Abdulgafar Quadri, Udoh Monday O., Babawale Saheed, Olasunkanmi Wasiu, Adetoro Toheeb, Mudashiru Lawal, and Ismaila Wahab, as well as Yinka Oyeniyi, Olaniyan Taofeek, Sheu Mumini, Ololade Bashit, Musibau Abdulkareem, Jamiu Sulaeeb, Jeremiah Ayuba, Abimbola Samad, Oladeji Tosin, and Mathew Samuel.

ýFrom the Ile-Ife centre, the amnesty covers Yusuf Ola, Oyedeji Sunday, Ojo Olaoluwa, Ogunola Rafiu, Ayomide Amos, Usman Adefisan, and Adedigba Abiodun.

ýThe governor emphasised that the decision reflects the spirit of compassion, justice, and renewal which Nigeria’s Independence Day represents.ý

ýHe added, ‘As a government of the people, we remain committed to upholding justice while extending mercy to deserving citizens. This amnesty is not only a gesture of freedom but also a call for true rehabilitation, reintegration, and a fresh start for these individuals.’

Shabana Mahmood, the United Kingdom’s (UK) Home Secretary, has confirmed that the path to Indefinite Leave to Remain (ILR) will soon be doubled to a ten-year qualifying period and subject to new ‘contribution-based’ requirements.

In her inaugural conference speech as home secretary, the Labour MP confirmed the significant policy shift, arguing that the public’s loss of faith in the immigration system was creating an environment where Britain could no longer afford to be ‘open, tolerant and generous’. End of automatic settlement

Mahmood further outlined plans to introduce a series of new, stringent ‘good citizen’ tests which migrants must pass to earn permanent residency.

‘We will soon increase the time in which someone must have lived in this country to earn indefinite leave to remain from five years to ten,’ she said.

‘And as part of that consultation, I will be proposing a series of new tests.’

These new conditions will reportedly include:

Being at work and making National Insurance contributions.

Not claiming a penny in benefits.

Attaining a high standard of English.

Having no criminal record. Demonstrating that they have truly given back to their community, such as through volunteering. Mahmood stated that those who fail to meet these new conditions should not be automatically granted ILR. The new system will allow high contributors to qualify for settlement in less than ten years, but others could face a longer wait or be barred from ILR entirely.

‘Time spent in this country alone is not enough,’ she asserted. ‘Just like my parents, you must earn the right to live in this country for good.’

The announcement was immediately followed by confusion over whether the stricter rules would apply to migrants who have recently arrived in the UK.

While sources initially indicate that the policy would not apply retrospectively to those already in the country, reports later suggested the government is wrestling with how to prevent a large cohort of recent arrivals from securing automatic ILR under current rules.

Mahmod is considering an emergency retrospective law, changes that could affect around one million migrants, including Nigerians who entered the UK after 2021 under the post-Brexit immigration system.

Insiders suggested the government was prepared to defend the expected legal challenges

However, it has been confirmed that the new ‘good citizen’ tests themselves would be too complex to impose on those already here.

Instead, ministers will seek a separate, faster mechanism to prevent migrants who arrived after 2021 from securing settlement after five years, though this mechanism is expected to be less demanding than the planned new ILR system.

‘Across this country, people feel like things are spinning out of control,’ she said, pointing to the arrivals of small boats and widespread illegal working as key drivers of this distrust.

The proposed changes are subject to a public consultation, following which the government is expected to make its final legislative decisions.

South Africa has been plunged into shock following the death of Nathi Mthethwa, its ambassador to France, who was found dead in Paris after what French authorities described as a fall from a high-rise hotel.

French daily Le Parisien reported that the 58-year-old diplomat is believed to have jumped from the 22nd floor of the Hyatt Regency Hotel in the French capital. The Paris prosecutor’s office confirmed that Mthethwa’s wife had raised the alarm after receiving a ‘worrying message’ from him on Monday evening, prompting her to report him missing.

A room registered in his name was later found in the hotel. According to investigators, its security window had been forced open. The circumstances of his death remain unclear, and French prosecutors have opened an inquiry. A duty magistrate was dispatched to the scene on Monday night, while the city’s Brigade for the Repression of Personal Crime, part of the judicial police, has taken over the investigation.

Ronald Lamola, South Africa’s foreign minister, described Mthethwa as a ‘distinguished servant of the nation,’ saying his death was not only a personal tragedy but ‘a national loss’ that would be felt within the diplomatic community.

Mthethwa had been appointed ambassador to Paris in December 2023 and also served as South Africa’s permanent delegate to UNESCO. His political career stretched back decades: he chaired parliament’s committee on mines and energy from 2004 to 2008, later becoming police minister, and subsequently sports, arts, and culture minister.

He was a prominent figure within the African National Congress (ANC), the party that brought an end to apartheid under Nelson Mandela in 1994. He was also known as a close ally of former president Jacob Zuma and was implicated in the state capture inquiry, which investigated systemic corruption during Zuma’s administration.

News of his sudden death has rippled through South Africa’s political and diplomatic circles. Mthethwa was widely regarded as a seasoned politician, and while his career was not without controversy, he remained a central figure in the ANC and in government for over two decades.

The details surrounding his final hours remain uncertain. French investigators have yet to confirm whether foul play was involved, stressing that all lines of inquiry remain open.

Nigerian Senior Government officials and the European Union (EU) on Tuesday held a meeting to assess existing vibrant economic partnership, to chart a way forward.

The EU bloc made this known in a statement by Modestus Chukwulaka, the Press and Information Officer of the EU Embassy in Abuja.

According to Chukwulaka, the inaugural Nigeria-EU Senior Officials Trade and investment Dialogue (TID) was anchored by Amb. Nura Rimi, the Permanent Secretary, Ministry of Industry, Trade and Investment.

He said that Jumoke Oduwole, the Minister of Industry, Trade and Investments, and Gautier Mignot, the EU Ambassador to Nigeria and ECOWAS, welcomed the launch of the Dialogue.

According to him, the senior officials’ meeting marks an important step in strengthening the trade and investment partnership between the EU and Nigeria.

‘It provided opportunity for the officials to exchange views on areas of mutual interest; address potential challenges and explore opportunities for further collaboration.’

Chukwulaka said that the discussions at the meeting focused on a range of issues, including trade and investment policy, cooperation on market access barriers and requirements.

He said that preferential trade and investment arrangements and collaboration within the World Trade Organisation (WTO), regulatory measures could impact trade and investment.

‘The highpoint of the meeting was that both sides expressed their interest to continue the dialogue, with the second TID billed to take place in Brussels, Belgium, in 2026, on a date to be jointly decided.’

Recently, the Federal Airports Authority of Nigeria (FAAN) faced criticism for allegedly lacking insurance coverage for federal government-managed airports.

Edward Boyo, founder and CEO of Overland Airways, publicly expressed concerns at an industry event, stating that FAAN’s failure to insure airports across the country exposes airline operators’ equipment to potential damage.

Boyo urged the National Insurance Commission (NAICOM) to engage with relevant authorities to ensure that all airports in Nigeria are properly insured, lamenting that poor airport infrastructure has resulted in significant damage to aircraft, with airlines bearing the financial burden.

Boyo highlighted the need for proper insurance coverage for airports, citing issues such as inadequate wildlife control and runway deterioration, which have caused damage to aircraft. ‘These infrastructures are not insured,’ he emphasised. ‘The government would have to meet its own responsibility.’

However, Olubunmi Kuku, managing director of FAAN, debunked Boyo’s claims, stressing that all federal government’s airports managed by FAAN are insured, with the insurance coverage up to date.

‘Derubberization and runway hygiene have been maintained; records are available. The only area I would concur is habitation and community issues that have impacted wildlife/bird strikes, and we have been working closely with relevant stakeholders to control,’ she stated.

According to Kuku, historical runway issues based on structural and engineering problems on some of the runways, along with those exceeding their lifespan, are being corrected gradually with complete overhauls and maintenance.

Some stakeholders have raised concerns about why airlines still pay substantial sums of money for damage resulting from poor infrastructure at the airport, such as bad runways, bird strikes, broken conveyor belts, and tight parking spaces, among others. They argue that if the airports are truly insured, FAAN should be liable for damages caused by its inefficiencies.

Insurance experts, however, clarify that airport insurance does not function in this manner as individuals and companies are responsible for insuring their own properties.

Sunny Ateba, an airline insurance expert, explained that operators and agencies have the responsibility to insure their own equipment against damages and should therefore have their own insurance coverage.

‘FAAN owns the airport terminals, so they are responsible for providing insurance to cover public liability and terminal buildings against damage,’ Ateba said.

Ateba provided an example, stating that if an airplane or moving equipment damages another plane parked on the tarmac, a third-party claim should suffice. He noted that airlines are also expected to insure their passengers in case of crashes or incidents.

‘If you rent a shop from FAAN to sell shoes, it’s your duty to insure your shoes. Similarly, if your aircraft hits the runway and the tyres are damaged, you can make claims for insurance to cover the damages, provided the aircraft is fully insured,’ the aviation expert explained.

Ado Sanusi, managing director of Aero Contractors, corroborated this view, stating that when airline operators insure their equipment, any damage would be covered by the insurance company.

‘If I insure my airplane and damage it due to poor infrastructure, my insurance company would cover the damage. Insurance is a stabilising factor in everyone’s business, and everyone is expected to insure their properties,’ Sanusi emphasised.

He added that FAAN’s insurance coverage does not extend to individual airline operators’ equipment, and each party is responsible for insuring their respective assets.

‘As FAAN insures its assets, so do the airlines, vendors, ground handlers, and airline operators,’ Sanusi concluded.

Social media has become deeply involved in debates and disagreements surrounding the imbroglio between PENGASSAN and the Dangote Refinery. While some support PENGASSAN, citing the right to free association and assembly, others argue for the refinery’s economic contributions.

Until PENGASSAN’s threat and directive to its members in seven firms to withhold essential feedstock from the refinery.

People now reference Abacha’s proscription of PENGASSAN on 18 August 1994. They also mention laws they suggest the president utilise to resolve the conflict.

The Nigerian Trade Disputes (Essential Services) Act of 1976 grants the President power to proscribe trade unions or associations in essential services that engage in disruptive activities or fail to follow dispute settlement procedures. Key provisions include the power to refer disputes to an Industrial Arbitration Panel, penalties for disrupting the economy, restrictions on forming new unions after a proscription, and the forfeiture of property and cancellation of registration for proscribed unions. Officials of proscribed unions face permanent barring from leadership positions.

Key Provisions:

Power to Proscribe Unions: The President can order the proscription (dissolution) of any trade union or association whose members work in an essential service if they are involved in industrial unrest or actions that disrupt such services.

Referral to Industrial Arbitration Panel: The Act permits the special referral of trade disputes in essential services to an Industrial Arbitration Panel for resolution.

Penalties for Disruptive Acts: There are penalties for acts calculated to disrupt the economy or the smooth functioning of essential services.

Restrictions on Proscribed Organisations:

Property Forfeiture: Proscribed unions forfeit their property to the Federal Government.

Loss of Legal Status: The proscribed organisation ceases to exist.

Formation Restrictions: Members are prohibited from forming or joining another union for a period of at least six months.

Official Disqualification: Officials of a proscribed union are barred from holding leadership positions in any other union in an essential service.

Property Registration: The Act includes provisions for the registration of property and indemnity related to these disputes.

Detention: Individuals involved in acts prejudicial to industrial peace after a union’s proscription may face indefinite detention.

Comrade Festus Osifo, national president of PENGASSAN

Ramifications and implications of the PENGASSAN versus Dangote Refinery conflict

The dispute between the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Dangote Petroleum Refinery has escalated into a major crisis with immediate nationwide consequences. The federal government has stepped in to mediate, aiming to prevent severe economic disruption and energy shortages.

PENGASSAN’s Position

a. Dismissal of over 800 workers for joining the union, violating constitutional rights to freedom of association.

b. Accuses the refinery of replacing Nigerian workers with foreigners and providing poor working conditions.

c. Nationwide strike; directive to cut off crude oil and gas supplies to the refinery.

Dangote Refinery’s Position

a. A ‘minimal number’ of staff were let go during an internal reorganisation to improve safety and efficiency, denying that it was due to union membership.

b. Union’s actions are ‘lawless,’ ‘economic sabotage,’ and ‘terror tactics’.

c. Accuses PENGASSAN of a history of sabotaging national projects and serving the interests of its leaders over Nigerian workers.

Immediate National Implications

The strike actions have moved beyond the refinery’s gates and are now affecting the broader Nigerian economy and populace.

Operational Shutdown: The Dangote Refinery has reportedly been ‘100 per cent shut down,’ and operations at its fertiliser plant have also been significantly halted. The union has also directed its members across all oil and gas installations to go on strike.

Threats to Fuel and Power Supply:

Fuel Crisis: The disruption risks a return of fuel scarcity. The refinery has been supplying an estimated 17 million litres of fuel daily to the Nigerian market; cutting this supply could spark a 32% shortage and drive up prices.

Electricity Instability: The Nigerian Independent System Operator (NISO) has warned that the dispute poses a serious risk to the national grid. As the grid relies heavily on gas-fired power plants, any sustained disruption to gas supply could lead to widespread blackouts.

Severe Economic Loss: Nigeria risks a daily loss of $110.8 million in crude oil export revenue and an estimated N14.7 billion in domestic losses, exacerbating existing economic pressures.

Alhaji Aliko Dangote, founder and CEO, Dangote Refinery

Government Intervention and Legal Context

The federal government is taking urgent action to mediate the dispute and prevent a national emergency.

High-Level Mediation: The Minister of Finance, Wale Edun, chaired a meeting of a steering committee to address the issue, reaffirming the government’s commitment to the naira-for-crude policy and energy security. Separately, the Minister of Labour, Muhammad Dingyadi, has appealed to PENGASSAN to suspend the strike and has called for a conciliation meeting with both parties.

Broader Labour Movement Stance: The Trade Union Congress (TUC), an apex labour centre to which PENGASSAN is affiliated, has condemned the refinery’s actions. The TUC has demanded the immediate reinstatement of the workers and has placed its affiliates on ‘red alert,’ signalling readiness for a wider industrial action if its demands are ignored.

Legal Perspectives: A public interest lawyer analysed that while the dismissal of workers for joining a union ‘falls short of the provided constitutional safeguards,’ PENGASSAN’s directive to cut off supplies might itself be unlawful as it affects ‘essential services,’ which requires a 15-day notice for industrial action.

What to Watch For

The situation remains fluid. The key developments that will determine the outcome are:

The result of the conciliation meeting called by the Minister of Labour.

Whether PENGASSAN will heed the government’s appeal to suspend the strike to allow for dialogue.

Whether Dangote Refinery shows flexibility regarding the reinstatement of the dismissed workers.

Deeper Dive: The Legal and Constitutional Tension

The conflict lies at the intersection of constitutional rights, labour laws, and national economic security, creating a complex legal landscape.

The Core Legal Violation: PENGASSAN’s main argument is that dismissing workers for unionising violates Section 40 of the Nigerian Constitution (1999, as amended), which guarantees the right to freedom of association and assembly. Additionally, it breaches Sections 9(1) and 12(1) of the Trade Unions Act, which safeguard workers from victimisation for joining a union.

PENGASSAN’s ‘Nuclear Option’ – A Legal Grey Area: While Dangote Refinery labels the directive to cut off crude supply as ‘economic sabotage,’

PENGASSAN’s action is a classic, if extreme, form of sympathy or solidarity strike. The legality of this is murky:

Against PENGASSAN: The refinery could be classified as an ‘essential service,’ and the Trade Disputes Act requires a 15-day notice before industrial action in such sectors. By acting immediately, PENGASSAN may have technically acted outside the strict letter of the law.

For PENGASSAN: Unions argue that the right to strike is a fundamental corollary to the right to associate. By allegedly engaging in mass anti-union dismissals, Dangote Refinery is perceived as having provoked an unprecedented situation that demands an equally unprecedented response, justifying immediate and widespread action to protect the very existence of union representation within the critical refinery.

The legal battle, if it proceeds to the National Industrial Court, will likely centre on balancing the company’s operational prerogatives against the fundamental rights of workers to organise.

A Pivotal Moment for Nigerian Industry

The PENGASSAN vs. Dangote dispute is more than just a labour disagreement. It serves as a crucial test case for Nigeria’s goal to shift from a crude oil exporter to a refined products powerhouse.

The resolution will set a critical precedent on several fronts:

1. The Power of Labour: It will define the limits of union influence in the ‘new’ Nigerian oil industry, which is controlled by private entities such as Dangote.

2. Investor Confidence: The balance between protecting workers and ensuring operational stability will be a key factor for future investments, both foreign and domestic.

3. Governance: It assesses the government’s capacity to mediate complex disputes without resorting to heavy-handed force that might escalate tensions.

The central conflict is between the ‘right to manage’ claimed by a private enterprise and the ‘right to organise’ claimed by labour. How this conflict is resolved will influence every major industrial project in Nigeria for years to come.

As Nigeria celebrates 65 years of independence, writer and social commentator Keem Abdul offers a timely reflection on leadership and democracy through two books that examine the country’s most recent presidents.

Together, the works provide a thoughtful look at the past and present, inviting Nigerians to consider the lessons of leadership as the nation charts its future.

In Scorched Earth: Anatomy of the Buhari Years (2015-2023), Abdul explores the life and presidency of Muhammadu Buhari, from his days as a military ruler to his two terms as a democratically elected president.

The book reflects on Buhari’s reputation for integrity, the challenges he faced while in office, and the lessons his leadership leaves behind.

Abdul writes: ‘The story of Buhari is the story of a man who became the symbol of integrity in Nigeria, but whose government eventually became a byword for competence tested by enormous national challenges.’ (p. 9)

He adds: ‘The Buhari years will be remembered not only for the change they promised, but for the lessons they leave behind for a country still seeking its democratic balance.’ (p. 313)

While Scorched Earth looks back, Abdul’s The King Maker: Chronicle of a Roller Coaster Life turns to the present. This volume follows Bola Ahmed Tinubu’s remarkable journey from his early years and career abroad, to his achievements as Governor of Lagos State, and his pivotal role in building political coalitions that led him to the presidency.

It highlights Tinubu’s resilience and strategic brilliance, while also addressing the controversies that have accompanied his career.

The book observes: ‘Tinubu’s genius lies not only in winning power for himself but in constructing platforms that made others possible.’ (p. 12) It concludes:

‘The question now before Nigerians is whether the skills that brought Tinubu to power are the same ones that can

rescue a fragile Republic.’ (p. 280)

Taken together, the two books form a companion study of leadership at a defining moment in Nigeria’s history.

Buhari’s years in office serve as a reflection on service and the weight of expectations, while Tinubu’s ongoing story raises questions about the future of governance and the meaning of political mastery in a young democracy.

Keem Abdul, the author of both works, is a Nigerian writer and social commentator who focuses on politics, governance, and society.

His books are not written in the language of praise or attack, but as chronicles that encourage Nigerians to reflect deeply on their leaders and on the

Republic itself.

Scorched Earth: Anatomy of the Buhari Years (2015-2023) and The King Maker: Chronicle of a Roller Coaster Life are both available on Mainstack and Selar.

Bolaji Balogun, CEO of Chapel Hill Denham, has shared strategic guidance for entrepreneurs aiming to build sustainable businesses in Nigeria and Africa.

He presented the growth strategies at a recent Worldwide Alumni Celebration of the London Business School (LBS), Nigeria chapter in Lagos, themed ‘Africa’s Builders: What it takes to start, grow and scale.’

He noted that Africa’s demographic advantage lies in its rapidly growing young population, which he says can boost economic growth by creating wealth through entrepreneurship.

Balogun shared the insights based on his 35 years of inspiring entrepreneurial journey and working with other successful entrepreneurs who built from scratch to big conglomerates on the continent.

In starting a business, he advised start-ups to have a big vision, clarity about the unique problems they intend to solve, discipline, financial prudence, and lots of experience.’

‘You must have a big vision and be clear about the problems you are solving when starting a business,’ he said.

‘The other thing that you’ll find common is that you need tremendous discipline around consistency in execution. It’s about financial prudence, operational rigour, and you will also need a lot of courage when you start,’ he explained.

He emphasized that starting a business requires experience, urging start-ups to have working experience before launching into entrepreneurship.

‘Experience is important as it helps you learn the business and the fundamentals properly. It helps you understand the structure, margins, customers and markets and how brands are built,’ he said.

In growing a business, Balogun says that growing a business in Africa requires the ability to identify, hire, and retain high-quality people over a long period. He noted that aggression is needed to grow any business, saying, ‘When you look at the entrepreneurs that have succeeded around here, they all have a mean streak around them, whether it’s Aliko, or Aigboje and the late Herbert of Access Bank, or Tony of UBA. Every single person who has built something here invariably has a bit of aggression.’

‘If you don’t have a bit of aggression, go home. Aggression is necessary for three simple reasons. It’s about the ability to make decisions quickly.’

‘It’s about the ability to process a lot of information and be clear-minded through that process and to be able to make the right decisions quickly.’

He stressed that having aggression ensures not making a mistake because it provides the ability to pivot when necessary and the swiftness to react to opportunities that are available all the time.

He urged startups to establish structures that promote accountability, transparency, ethics, and governance discipline.

In scaling a business, Balogun says the business must have had a significant community impact and now be focused on a broader stakeholder community.

He urged entrepreneurs who want to scale their businesses to ensure that their corporate governance is stronger, they understand the power of the capital market, they understand sustainability, increase employee training, reinvest in the business, think long-term, and continue the quest for excellence.

The event also included a panel discussion on what it takes to build a regional and continental business in Africa and practical advice on how to grow and scale businesses successfully was offered.

The panelists include: Adedotun Sulaiman, chairman, Parthian Partners Ltd; Roosevelt Ogbonna, group managing director, Access Bank; Kathleen O’Connor, clinical professor, LBS and Olumide Soyombo, co-founder, Bluechip Technologies and Voltron Capital. It was moderated by Rolake Akinkugbe-Filani, CEO, EnergyInc Advisors.

In Nigeria’s fast-paced world where vehicles are not just a convenience but the lifeblood of movement, trade, and connection, engines are the unsung heroes. From taxis weaving through Lagos traffic to long-haul trucks powering interstate commerce, the performance of an engine can mean the difference between efficiency and frustration. And at the heart of every great engine lies one essential element: quality lubrication.

This is where Ardova PLC, one of Nigeria’s foremost energy companies, and Shell Lubricants, a global pioneer in advanced motor oils, converge in a partnership that has redefined engine care in the country with the creation and distribution of Shell Helix motor oil. Ardova is the sole distributor of Shell Lubricants in Nigeria.

A Meeting of Expertise and Innovation

As part of our efforts to increase visibility and drive relevance for Shell Lubricants in Nigeria, we have organized two editions of the Power Conference to engage with industry players in the power sector, and position Shell Lubricants as a leader in that space.

We have also launched the ‘Keep It Running’ campaign, alongside other marketing efforts, to further strengthen this commitment.

The Science Inside Every Bottle

What sets Shell Helix apart isn’t just the brand name, it’s the technology within. Formulated with active cleansing agents, Shell Helix motor oils are designed to go beyond basic lubrication. They:

– Actively clean and prevent sludge build-up.

– Reduce friction for smoother performance.

– Protect against wear and corrosion, even under Nigeria’s demanding driving conditions.

Think of it as giving your engine a spa treatment ,cleansing, protecting, and rejuvenating it with every drive.

Why This Matters for Nigerian Drivers

Nigeria’s driving environment can be unforgiving. Heavy traffic, fluctuating weather, rough roads, and long-distance journeys all put engines to the test. Cheap or substandard oils often fail under these conditions, leading to breakdowns, higher fuel consumption, and costly repairs.

With Shell Helix, the Ardova-Shell Lubricants partnership provides a lubricant engineered to withstand these pressures, ensuring engines run smoother, last longer, and give drivers peace of mind.

More Than Oil: A Promise of Reliability

When motorists pick up a bottle of Shell Helix from an Ardova or Enyo filling station, they’re not just buying motor oil. They’re investing in a promise: the promise of a cleaner engine, improved performance, and the backing of two trusted names in the energy sector.

It’s a promise that every journey whether it’s the daily school run or a cross-country delivery will be powered by excellence.

Shell Lubricant Solutions

Shell offers a wide range of Lubricants across all industries, from automotive, fleet, general manufacturing, construction, mining and quarrying, agriculture, marine to power. Following decades of collaboration with the businesses that help shape our global industrial sectors, located across every corner of the world, we’ve come to help unleash untapped sources of power: potential.

At Shell Lubricant Solutions, we help unleash this potential:

– The potential for equipment to perform better and last longer

– The potential for people to face new challenges and stay safe

– The potential for businesses to adapt to change and for industries to be both profitable and responsible.

We believe in the potential for positive change, by empowering businesses, reducing negative impact, and improving lives.

Because potential is only a promise until you add action, we’re committed to helping you transform your own business, so we can all make a real difference to the world.

Our mission is to put potential in motion and that drives everything we do.

The Road Ahead

The Ardova-Shell partnership reflects a shared vision to elevate the standard of machine/ equipment care in Nigeria. By marrying innovation with accessibility, they’ve turned Shell into more than just a lubricant, it’s a movement toward smarter, more sustainable operations.

For Nigerians, this means every turn of the key isn’t just the start of an engine, but the continuation of a journey powered by trust, science, and collaboration.

Shell Lubricants are formulated for passenger cars, heavy duty engines, gas engines, hydraulic systems, industrial gears, turbines, compressors, transformer oil and marine applications.

Available nationwide in Ardova and Enyo filling stations as well as through authorized reseller stores.