WEBVTT

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Hey, hello everyone. Now,
welcome to another evening with Me Kalu.

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This is a X basis with Me
Kalaaja. This is where we talk money,

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the economy and of course finance,
and I want to make the topic,

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you know, personal to you.
How do the economic topics of the

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week affect your wallet? That's what
we're talking about here every week. This

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week we have an interview. Right, I'm speaking to mister agi Uluatbi.

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He is the MD, the chairman
and the CEO of Nord Automobile Limited.

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I'm trying to get him to come
on here and I'm so so pleased that

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he's able to join us, just
when we can talk around the issues of

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SMEs manufacturing. He's on the ground. He's making stuff. This is not

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services. He's making stuff on the
ground in Nigeria. So without much for

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her doing. It's gonna ask me
to welcome to on me introduced himself and

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then we can go from there.
Thank you so much. Do on mute,

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sir. How are you doing today? I'm doing very well. Good

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evening here in Nigeria and so Nigeria
this evening year. Good evening everyone listening.

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I really appreciate this and I feel
privileged to be here on this space.

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Like he explained earlier, my name
is the Lord Vir Jerry. I'm

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the founder of not Is, one
of Nigeria's what too manufacturers are assemblers,

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Yes, so that's what we do. We make cars. Were semble cars

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in Nigeria. Excellency. Yeah,
you've been very more sad. I think

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that's that that just to sit at
alone, just the fact that you can

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make cars in Nigeria, I mean
with a lot that's going on, that

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is just so you're being very very
humble, but welcome to the space.

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Like we won't just basically learn about
what you do and we'll just pick a

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few lessons as to do the interviews
guys, So let's just go on the

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street real quicker. So just my
first question to you, why cars?

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Right? What is it in your
background? And I prepared you for this

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role? I mean, did you
want to do this? Is this what

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you were to do? You want
to make cars? Or you saw the

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opportunity, let's put it that way. Okay, So so what I've always

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wanted to be an entrepreneur. I've
always from a very young age, I've

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always repent entrepreneur. And that's also
because that's my copy mechanism for Nigeria.

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I grew up in Nigeria at school
or my life in Ningeria like call it

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me do or black class. You
know. Family, and I saw a

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lot of my uncles. Even though
as as we were with my most of

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my uncles and my parents were boding
legals and suerary, and even as well

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as the new people, they found
it very hard to get jobs. After

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I saw this happening, I didn't
want this to be my own side of

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the story. I don't want this
for myself. So I said, okay,

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what was I gonna do them?
Is I have to try and create

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jobs. I have to look for
a way to make things, and I

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look for something I was very easy. We have a lot of farm from

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both side of my family and my
dad's side my mom's side, so I

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said, okay, Nigeria also has
a football. I was thinking about all

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these things when I was aving a
teenager before I don't going to university,

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so I knew Nigeria has a very
big food problem. Even til now,

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I knew how that it is that
a lot of our problems will be solved

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if Nigerians can be able to get
enough food at good price. So I

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said I was going to be a
farmer. I was. I used to

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do people I would did those days
when I was a teenager, when I

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was really really young, that I
don't worry. I'm going to feed a

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million people. I'm going to crush
the price of food in Nigeria. I'm

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gonna be very popular. I'm gonna
be this. But I did not think

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it was going to be automobile.
It was going to be farming in my

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opinion, So so I did.
I started farm meorchanization in school. After

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that I came to Legos for NYC. I saved in my Cities Bends.

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Now, after my Cities Bends,
I really liked the place. It was

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a lovely environment. Like I said, at schooled in Nigeria, I thinking,

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imagine how and then I joined universtity. The culture wasn't so nice.

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So going to my Cities Mens Nigeria, seeing how well I was really treated,

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well, I just said, you
know, I'm at I'm going to

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be farm anymore. So I decided
to focus on the automobile side of things,

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and I decided to stay at me
Cities Bends and I left the farming

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for a while so when we are
doing that because I've always wanted to,

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I'm trying to summarize because I'm always
want to be an entrepreneur. Somehow,

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even though I didn't do farming and
produced food, now I produced cars.

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I just still found myself producing something, even though life moved me away from

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what I initially wanted to do.
So even though to move you, I

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had or find the opportunity still Seeing
the problem of Nigeria, which is we

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cannot keep buying two combo vehicles,
a look of our effects go out because

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people buy Nigerians. Nan is a
very big market for cars. We spend

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with two one point one three llion
to one point eight three llon dependent on

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the year buying cars. On the
sad parts is that less than five percent

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of that volume is brown new to
ninety five percent and little or even more

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of our vehicle purchase and Nigeria are
used vehicles, so that we don't create

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any jobs. It doesn't take anything
to sell use vehicles. That's what I

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want or two sales people and I
once more, even if the children sell,

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just having cannot and selling cars vote
to for a market. That side

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is about that one point one three
or one point eight three yore like one

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point five three llion in two dollars. You said, as the big big

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markets depend on If maybe three point
five billion, maybe four billion you does

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dollars, that kind of should be
creating thousands of jobs, tens of thousands

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of jobs. And that's what I
wanted to do. I was a messities

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bends. I thought how these people
were just you know, sending very goods

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to the Nangeria and selling out,
opening them to sell. And I said,

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you know what, we can take
these things ourselves. We can create

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more jobs, we can add more
value, we can help Nigeria, we

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can improve the GDP of Nigeria.
And one of many other reasons. I

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have many other reasons why the celebrity
I can't talk about if you ask me,

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but one of the major reasons was
to solve some of the problems we

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have in Ageria. So it was
it was more like so it was cars

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specifically for the employment. I'm just
trying to figure out why it was cars.

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Toby, can hear me, Okay, can hear me? Yeah?

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Yeah, so it is so,
yeah, yes, great, So specific

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to cars, it was was it
the need or the opportunity did something happen.

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Did the policy happen or did you
have because of the backgrounding mercedies bears,

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you knew about that line of business. We try to go into it.

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What was the trigger for cars?
So a policy happened, something happened

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very right, So it's about it's
about a drive for entrepreneurship, a drive

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because I always feel entrepreneurship is creating
value, solving in need in exchange for

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financial gain in that order. That's
always my idea of entrepreneurship. So of

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course, as I want to solve
that problem, it problem has to have

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been there, then you see the
opportunity and the policy has to be there.

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So in twenty fourteen the policy a
policy came about in Nigeria called the

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National Automotive and Industry Development Policy any
ID P Twenty fourteen. It's encouraged local

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manufacturing in Nigeria. It increases arey
for fully built vehicles. For commercial vehicles,

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it's increased it for I can't remember, maybe ten percent or two retires

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to teny five percent. Then increase
those for passenger cars from I think twenty

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percent to thirty five percent duty,
thirty five percent levy, so a total

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of seven two percent. Then for
semi knockdown semi knockdown that is an assembled

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part. But the semi which means
that the parts are already painted, are

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they already welded, but they're still
they're still not together. You still need

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to come and put the put the
actus together, put the engines together,

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putting transmissions together. Semi knockdown and
pay ten percent for public knockdown, which

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is the same thing you find anywhere
in any factor in the world, whether

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in the city is based in jagoua
range over complete knockdown you pay nothing.

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Just bring him too that those parts
you need to welded. So for the

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definition for complete knockdown means that he
has to be un welded, which means

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you have to have a welding process
and anger are damage, you need to

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also do electoral electroplating. For anti
RUSS you need to also now painted and

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duty they are that you do that
you know have to bring into the assembly

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line to assemble now they so you
pay nothing for that. So the encouragement

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was there. The gems of industity
then I was a little I was an

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in industry, but I was just
I was invested. Invest then the most

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senior man in my industry like to
utilize costs. Cost charities were really against

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this policy because they didn't trust the
governments. They felt that the government was

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always going to do policies or mysseults. They said that people have invested billions

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of those as in Nigeria descents and
those investments are going to waste, and

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so they do not want to invest
in because assembling cars in Nigeria is a

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very capital and in any way any
but assembling cars is capital intensive. So

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this senior men did not think it
was right. And we had a lot

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of town with meetings with the government
of the day then and the minister and

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he promise toosed a lot of things, biding a lot of promise and people

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started investing in little. The twenty
fifteen came and the government of that they

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maintained the policy. So I think
that gave the industry players including me,

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the belief that was going to work
out well. So between twenty fifteen to

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twenty eighteen, just three years,
Niningerians in my industry, like people in

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my industry, invested more than four
hundred billion naira that's maybe more than one

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billion years as well as at that
threat at that time if everybody was also

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building assembly planned building capacity. Because
we felt that Saneria was ready and at

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that point too, that was one
of the reasons why said, okay,

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you know what, if this has
happened, it means that the government of

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Ninegeria is ready for this, then
we can actually take advantage of this thing.

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At that time too, the dollar
was also basing a combination of different

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factors. The government brought up the
policy that I felt was in support of

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local manufacturing. Then at the other
end, the I used to sell.

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I was selling me this basic spreme
type a boss. This point, I

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was going for nine point five million, because the dollar was an hour at

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that time, you know, and
two uta I was like seven point five

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minute, as our compt you can
imagine, so it was ten point five

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were selling for like nine million nine
point five Next thing, the dollar went

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into more than four hundred within a
year. The landing costs of a vehicle

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I used to sell just a year
before at nine point five million, which

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means that my cost price was into
lower, went to around prints for twenty

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five million NI from nine twenty four. Yeah, from from my custperences,

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around seven point something million nine eight
less than eight million. It went from

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that to twenty four million nih.
We didn't a year the same vehicle the

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same euro price. Be gonnare available
in general from Yeah manufacturing. They don't

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increase the price because of the currencies
in evaluation. We didn't a year between

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twenty fifteen to twenty sixteen twenty four
million nire. Of course, you can

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imagine vehicles that I used to tell
about almost two hundred units a year underland.

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Something you need to year. The
twenty sixteen I saw that I can

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remember very well. We saw thee
thirty three units and they take three units

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some of them. Was almost like
emotional blackouts on the customers because these are

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customers that the area had like pending
others, so we have to force them

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to buy twenty seventeen. You don't
want to know the numbers. It was

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less them units. So at that
point I said this business was going to

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die because you know, we jumped
something. And when you say this business,

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and you asked about myself, so
as if I told you this my

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h my story, you would have
seeing how I go to being the CEO

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of the Gelostical my Cities business.
I didn't tell you about that. For

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just to be clear, right when
you say this business, when you say

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this is a referring to the retail
sales of cars in Nigeria, retails of

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important cars, and I just have
to refer to this business right as at

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twenty seventeen, twenty sixteen, you're
actually the reason why I stayed. Not

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sorry, I did, no,
just just to be clear, just to

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follow right, when you say this
business was not going to survive, you

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are speaking about the retail sale of
important cars into Nigeria. That's what you

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referred to. No, I was
talking about my first company. I was

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talking about my first thing. Okay, my first company. In twenty two

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thousand and fifteen, two thousand and
four, taste to fifteen, I founded

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a company called jet Co founded called
jet Van. That company was an authorized

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dealer of my cities benz gotcha?
Gotcha? Gotcha? Yes? So that

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company was well bringing me cities,
bends, sue and sell them. Do

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you understand? Interesting? And we're
selling very well. We sold very well

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in twenty fourteen, We sold very
well in twenty fifteen. But in twenty

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steen we lost market here because what
we used to sell for nine point five

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million had to be sold for around
twenty nine twenty eight million Jesus, all

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within one year. So I realized
that that phusiness was going to die.

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Gotcha that that was when I knew
that I needed to start a company that

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will re use the costs of vehicles
or the price of vehicles to Nigerians.

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So I said, you know what, Now everybody's complaining to buy brand new

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vehicles anymore because nobody, nobody can
afford it. And I told okay,

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So I went, I went again, necessarily, can you remove all these

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companies? Why you do this?
Can you do that? They refuse because

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for reasons vested on to them,
they refuse. And I told myself,

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this is an opportunity for me.
Then Nigeria already has policies at home that

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favors manufacturing of vehicles. You already
have customers who will buy if the price

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is good and the quality is good. Luckily for me, I've been through

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all the message mens factories in Germany. I know how cars are made.

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I didn't know I could make them, but I know that I've seen this

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cars been made. I have an
idea how they can be made. So

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I it's an opportunity if I can
provide Nigerians with durable, elegant, easy

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to maintain and affordable vehicles, then
I would have been solving a very good

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problem. If I do this,
then I can get a lot of my

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customers who cannot buy my vehicles anymore, who are going to rely on publishing

207
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their old vehicles, who are going
by to com bovee vehicles. I can

208
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get these customers to buy to start
by my new vehicles that have made year

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in Nigeria, because it will be
a lot more affordable because I won't pay

210
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duty and I would be able to
control the factors of production. Electricity is

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expected to jerily. Yes, but
land is cheap, label is cheap.

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00:16:51.320 --> 00:16:53.759
It's very interesting, and you also
eliminate a lot of me, you men,

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00:16:56.000 --> 00:17:00.080
it's very interesting. So I did
the analysis and I realized that,

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00:17:02.480 --> 00:17:03.920
you know, I did the analysis, and I realized that I'll be able

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00:17:04.000 --> 00:17:08.880
to afford affordable I'll be able to
provide affordable vehicles to Nigerians. And I

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started the plan in twenty seventheen so
I registered not in twenty seventeen, and

217
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he's been going well since then.
I can tell you more. It's been

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00:17:19.720 --> 00:17:25.079
there afose tough times there and there, because I had to design the vehicles,

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00:17:25.319 --> 00:17:29.240
I have to source the materials.
I have to travel around the world

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00:17:29.559 --> 00:17:33.920
trying to get the right materials,
trying to get what Ninegerians want. Even

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00:17:33.079 --> 00:17:36.160
you know, I was trained by
my cities, but which as a lot

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00:17:36.200 --> 00:17:38.519
of German German things and realized,
I know that may not be what Ninegerians

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00:17:38.559 --> 00:17:42.319
want. Nan Gerrans may want to
move towards the Asian parts like Japan.

224
00:17:42.880 --> 00:17:45.880
You know, Japanese parts are very
popular Nangeria. So I moved towards that

225
00:17:47.000 --> 00:17:51.480
area. So because that would always
that would allow me meet my objective of

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00:17:51.599 --> 00:17:56.119
providing durable, easy to maintain and
affordable vehicles for n Enginians. Let me

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00:17:56.160 --> 00:18:00.319
ask a question. So so as
your question I started, I did it

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00:18:00.440 --> 00:18:07.440
because the opportunity came, Like the
vehicles were more expensive. Nine generals could

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00:18:07.480 --> 00:18:11.400
not buy and Englis couldn't buy,
telling those that are dream businesses, and

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00:18:12.240 --> 00:18:17.720
the government had a policy that was
encouraging it. So that combination was was

231
00:18:17.839 --> 00:18:19.799
a very big incentive for me.
And I went too and to pro to

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00:18:19.960 --> 00:18:26.119
pro to to just give me a
good example, selling bank has been very

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00:18:26.119 --> 00:18:29.880
pom giving us to the stelliment is
very important for me. It's helped me

234
00:18:29.880 --> 00:18:34.200
a lot. There was a time
in twenty nineteen a customer of Stelling Bank

235
00:18:34.279 --> 00:18:41.039
also was this. One of the
things about about when you have a local

236
00:18:41.119 --> 00:18:45.160
production, when your your economy,
just the multipli effect on the economy is

237
00:18:45.200 --> 00:18:52.880
but also so the the this customer
has a transport company that provides logistics and

238
00:18:52.960 --> 00:18:56.359
transport solutions to the i one of
some of the IOCs, you know,

239
00:18:56.440 --> 00:19:02.640
the oil companies and so the person. But the Selling bank finances this company

240
00:19:03.079 --> 00:19:07.240
the five posses maybe like four or
five. After four years, the possess

241
00:19:07.680 --> 00:19:11.720
that are you know, you know
reatten off or something like that, you'll

242
00:19:11.759 --> 00:19:15.359
not take the new posses because the
oioses want new possess I think every four

243
00:19:15.400 --> 00:19:18.720
or five years. Yeah, you
get so the four years have gone.

244
00:19:18.759 --> 00:19:22.759
They wanted news posses and they usually
accliminal mentioned the brand, the brand,

245
00:19:22.799 --> 00:19:29.559
but you know, want the popular
to the popular Japanese brands. So this

246
00:19:30.000 --> 00:19:37.599
customer went to the bank again.
The bank digger the cash flow and disease,

247
00:19:37.880 --> 00:19:44.839
you know, and they realized that
the revenue projections was not enough to

248
00:19:45.000 --> 00:19:52.519
meet the cost of the vehicle of
the post and that means from their analysis

249
00:19:52.240 --> 00:19:56.720
that business will be unable to pay
back the loan was about to get and

250
00:19:56.839 --> 00:20:00.720
of course the credits him said no, this customer was really really mad,

251
00:20:00.839 --> 00:20:04.039
like he was fastical customer. I
was really really upset. I think he

252
00:20:04.119 --> 00:20:07.400
was gonna lose his business. You
know, was he gonna considering living like

253
00:20:07.519 --> 00:20:11.000
you at that time? Because he's
our business. We crossed the zoom things

254
00:20:11.039 --> 00:20:15.359
you know, and our long the
line. The somebody is telling band just

255
00:20:15.559 --> 00:20:19.160
told me about it that have a
customer that has a big problemle that this

256
00:20:19.319 --> 00:20:23.039
is probably hard like he has.
He has a customer this is this is

257
00:20:23.079 --> 00:20:26.400
it is a way we can solve
the problem for him because we have bosses.

258
00:20:26.799 --> 00:20:32.319
Can we sell this bosses to this
customer? Sayings, we also use

259
00:20:32.400 --> 00:20:36.839
Japanese pats, it's almost the same
thing. Can we introduce they can introduce

260
00:20:37.200 --> 00:20:40.400
so they can also induce those the
iosis and the iocc Yes, then we

261
00:20:40.480 --> 00:20:45.400
can't be able to finance because our
vehicles are about sixty percent the price of

262
00:20:45.920 --> 00:20:49.559
this other popular brand. And that
means that the customer will be able to

263
00:20:49.880 --> 00:20:55.799
afford it and the loan will meet
the creative objectives JIGG. So we spoke

264
00:20:55.839 --> 00:21:00.319
to this customer spoke to the IOC
and in a couple of week the the

265
00:21:00.480 --> 00:21:06.039
DUW was done. The bank was
able to you can act like I said,

266
00:21:06.039 --> 00:21:10.079
I mentioned nor the band selling bank
was twenty nineteen. The bank was

267
00:21:10.119 --> 00:21:15.640
able to finance this customer because now
the numbers make sense, and because I

268
00:21:15.720 --> 00:21:18.519
was able to buy the vehicles of
man, this customer has remained in returning

269
00:21:18.599 --> 00:21:25.519
customers since then. You know.
Now, these are the kind of solutions

270
00:21:25.559 --> 00:21:29.440
that when I remember, makes me
very happy. If false, it could

271
00:21:29.440 --> 00:21:33.079
be like us because of the high
cost of important thing these vehicles, this

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00:21:33.240 --> 00:21:36.640
customer would have lost his business,
jobs would have been lost, a lot

273
00:21:36.640 --> 00:21:38.000
of people would have you know,
like him, like now, because my

274
00:21:38.200 --> 00:21:41.279
my friend now he told me that
he was already considering living Nigeria because there

275
00:21:41.359 --> 00:21:45.279
was no points. But now he's
an Egeria. The company has gone bigger,

276
00:21:45.359 --> 00:21:48.880
everything is everything is way well,
you know, and he's success stories

277
00:21:48.960 --> 00:21:52.559
as his story, his success story
of my of my own company. So

278
00:21:52.720 --> 00:21:56.039
those are the kind of problems that
we solved that makes me very happy and

279
00:21:56.160 --> 00:22:00.440
shows me that we are doing this
for the right reasons. Gotcha, gotcha?

280
00:22:00.839 --> 00:22:03.039
I mean, that's very very good
insight. I mean, I just

281
00:22:03.599 --> 00:22:07.319
had to write this down nine million
to twenty four million because of just one

282
00:22:07.480 --> 00:22:12.200
change in positive. That's inflation.
So when Nigerians say inflation, inflation,

283
00:22:12.400 --> 00:22:18.319
that's how inflation comes to Nigeria because
we've imported the inflation. So now once

284
00:22:18.400 --> 00:22:22.240
that car is twenty four million,
then everything has to take dressing. You

285
00:22:22.279 --> 00:22:26.359
know the car car betweenty four millions
and a few will be ten ra.

286
00:22:26.759 --> 00:22:30.720
Everything has to take dressing more or
less. So that's important. Inflation right

287
00:22:30.759 --> 00:22:33.599
there, what we call a demand
pustion. It's there's no supply of those

288
00:22:33.680 --> 00:22:37.160
busses, so the price has to
go up more or less. But if

289
00:22:37.200 --> 00:22:42.039
those busses were sufficiently produced in Nigeria, the price will between the four million

290
00:22:42.200 --> 00:22:47.440
because there will be competition, there
will be supplied. Then the price stays

291
00:22:47.480 --> 00:22:52.319
though, So this inflation we'll talk
about go ahead because I told him with

292
00:22:52.400 --> 00:22:57.480
solve a problem. The at that
time, he was buying the vehicle for

293
00:22:59.400 --> 00:23:03.880
twenty I think twenty six million,
and he bought his vehicle for US for

294
00:23:04.200 --> 00:23:08.559
teteen point five million. Interesting,
so I mean, you guys are easily

295
00:23:08.680 --> 00:23:14.319
financial. So I mean, so
I see what you're saying the same the

296
00:23:14.400 --> 00:23:18.920
same quality, a different name and
it's made in Nigeria. So because it's

297
00:23:18.920 --> 00:23:22.200
made because just not just to be
clear, just to be clear. Right,

298
00:23:22.799 --> 00:23:27.039
the same brand, the same chassis, the same chassis Midien Nigeria is

299
00:23:27.079 --> 00:23:33.599
going for tirteen million, and the
same chassis imported. Can you hear me?

300
00:23:33.920 --> 00:23:40.279
I can't hear you? I can
you hear me? Question? Yes?

301
00:23:40.359 --> 00:23:41.799
So I was just making trouble.
I was getting right. The same

302
00:23:41.920 --> 00:23:48.480
vehicle chassis, right, was going
for tirteen million Nina made in Nigeria and

303
00:23:48.640 --> 00:23:52.319
the important vehicle chassis for about twenty
six million. Is that what you're saying.

304
00:23:57.039 --> 00:23:59.680
I'm not sure. I'm not sure. If you can't hear me,

305
00:24:00.680 --> 00:24:04.599
let me add someone just to confirm
you. Guys can hear me? So,

306
00:24:04.759 --> 00:24:10.160
Joey, can you hear me?
I can hear you? Okay,

307
00:24:10.240 --> 00:24:11.440
let me ask a question against her? Sorry about that. Yeah. So

308
00:24:11.519 --> 00:24:15.160
I'm just a really clear on the
on the on the on the impact of

309
00:24:15.319 --> 00:24:19.279
local manufacturing. The locally manufactured Boss
that you made with the same chassis is

310
00:24:19.319 --> 00:24:23.599
going about thirteen million, but the
important versions going about twenty six million?

311
00:24:23.720 --> 00:24:27.839
Is that correct? Exactly correct?
Okay? Just to get that point in

312
00:24:27.920 --> 00:24:32.559
there, Just that the audience is
following completely take you to just to that

313
00:24:32.599 --> 00:24:33.799
point. Let me go back to
this. I will just get a few

314
00:24:33.880 --> 00:24:38.000
questions into you just to answer.
So who is the given us an insight

315
00:24:38.079 --> 00:24:44.319
of the demographic of the nord customer
and also where you're basically sourcing the Nord

316
00:24:44.400 --> 00:24:47.680
carston if you have to say the
Nord car, what is the DNA of

317
00:24:47.720 --> 00:24:49.960
the Nord car? Is it?
Is it the Mercedes or is it the

318
00:24:51.119 --> 00:24:56.000
Eastern What's the DNA of the of
the Nord car? Okay, very nice.

319
00:24:56.720 --> 00:24:59.400
So I was trained by my cities
bans and you know, we all

320
00:24:59.480 --> 00:25:04.559
know they are luxury that you cannot
you cannot deny that. However, Nigeria

321
00:25:04.799 --> 00:25:08.359
is not. It's the people of
the Nangeria, the average guy on the

322
00:25:08.440 --> 00:25:12.119
road to average gel on the road. We're not reach We're not. We

323
00:25:14.000 --> 00:25:19.559
cannot buy luxury easily at the moment
exceptly subsidized. So I knew immediately with

324
00:25:19.880 --> 00:25:23.279
was a problem for me when I
was starting on because all I knew was

325
00:25:23.359 --> 00:25:29.000
the German products, German brick pads, German engineers. But I knew immedically

326
00:25:29.160 --> 00:25:33.440
that that was not going to work
in my in my country and solve the

327
00:25:33.519 --> 00:25:36.680
kind of problem I wanted to solve. I wanted to solve a problem where

328
00:25:37.200 --> 00:25:41.759
an average percing and iveage hard work
in Nigeria and can normalize buying brand new

329
00:25:41.839 --> 00:25:47.400
vegs. Didn't see two combo is
the only thing? Do you understand?

330
00:25:47.440 --> 00:25:48.799
You don't buy to combine and go
and praise God in George. They have

331
00:25:48.920 --> 00:25:52.680
to, you know, they have
to see that. They also like that

332
00:25:52.079 --> 00:25:57.400
the counterparts in Japan and in America, they also deserve to buy and normalize

333
00:25:57.400 --> 00:26:00.960
buying brand new because I need have
to do that. They had to also

334
00:26:02.039 --> 00:26:07.880
be affordable. We had to be
so so we don't make logory locksory vehicles

335
00:26:07.920 --> 00:26:14.000
and make what I call utility vehicles, elegant vehicles, vehicles that you can

336
00:26:14.839 --> 00:26:18.599
give everyday people can use. They
had what the guys, the middle class,

337
00:26:18.680 --> 00:26:22.079
the upper class can use. That's
what we use when we're not making

338
00:26:22.440 --> 00:26:26.559
the rouge roys or the rest when
when I'm doing the keys at the moment,

339
00:26:27.079 --> 00:26:36.279
So our to now to answer your
question about demography, the attacket markets

340
00:26:36.880 --> 00:26:47.920
is the middle class, the middle
class, the apper class, the corporate

341
00:26:48.039 --> 00:26:53.799
organizations that want to be efficient,
the government paras status, the military para

342
00:26:53.880 --> 00:27:00.079
military you know, and I think, so answer a question more than and

343
00:27:00.119 --> 00:27:06.079
ninety okay, well, okay night, because we have a lot of so

344
00:27:06.480 --> 00:27:11.519
the the majority of the working class
in Nigeria, let's the ninety percent of

345
00:27:12.440 --> 00:27:18.839
the employed gainfully employed, not the
other you know, gainfully employed n Egeria

346
00:27:18.920 --> 00:27:22.799
is not what the parties are saying
now about what he said? Or one

347
00:27:22.880 --> 00:27:30.160
are you know gainfully employed Enginians?
About eighty percent they had working descent Nigeria

348
00:27:30.200 --> 00:27:33.880
and that's that's what our market is
about. Interesting, so let me so,

349
00:27:34.039 --> 00:27:37.359
let me ask you a double question
because I want to guess folks are

350
00:27:37.359 --> 00:27:41.039
already asking to speel and ask you
a double question. Right, it's manufacturing

351
00:27:41.160 --> 00:27:47.599
Nigeria viable? And what is your
largest expense after these two have the last

352
00:27:47.640 --> 00:27:51.880
one? So it's I mean you've
told ten sixty two. Let me ask

353
00:27:52.039 --> 00:27:56.759
quickly manufacturing Ageria is not viable at
the moment. But the answer is no,

354
00:27:56.440 --> 00:28:00.240
they know, and I don't know
why this is. There's a shame,

355
00:28:00.400 --> 00:28:07.400
is not I'm hoping that I intend
to be closed out to the government

356
00:28:07.480 --> 00:28:11.079
of the day. Now I tend
to spend more time in our bu jab

357
00:28:11.559 --> 00:28:14.799
try and talk to the government.
And because I'm in Legos, and I'm

358
00:28:14.799 --> 00:28:18.759
always in Legos, but I think
that I have to take a leader shapable

359
00:28:18.039 --> 00:28:23.279
in this my in my industry and
try and do what every normal business man

360
00:28:23.359 --> 00:28:26.880
anyways anyways, more than the marks
or whatever. You know, you have

361
00:28:26.960 --> 00:28:30.839
to talk to government, j to
lobby. So as a woman's manufacturing is

362
00:28:30.960 --> 00:28:37.480
not viable, it is, It's
just not viable. I was on TVC

363
00:28:37.880 --> 00:28:41.799
so vehicle and I said something every
time I'm going to repeat now and I

364
00:28:41.839 --> 00:28:48.079
can break it down for you.
It is currently more expense seve to assemble

365
00:28:48.200 --> 00:28:56.640
cars in Nigeria than to important it
is a lot cheaper, It's significantly so

366
00:28:56.799 --> 00:29:03.559
I have to import fully huge vehicles
in Ageria to assemble. Is here asking

367
00:29:03.680 --> 00:29:07.680
so why are you still doing Okay, Well, I was doing it because

368
00:29:08.759 --> 00:29:12.279
when I started, these sensitives was
dead. That's what this thing to do.

369
00:29:12.319 --> 00:29:15.559
You know. I was giving it
back an INSENTI twenty fourteen. In

370
00:29:15.680 --> 00:29:23.000
twenty twenty, the last government,
for reasons I do not understand reasons,

371
00:29:23.039 --> 00:29:30.720
will fought against remove it. Some
people who do you know you don't want

372
00:29:30.720 --> 00:29:33.160
to do the hard work of creating
jobs in this country. So people don't

373
00:29:33.160 --> 00:29:37.640
do the hard work of moving Angeria
forward, who just like to import things

374
00:29:37.680 --> 00:29:41.960
and do dreading and do the easy
things out when to the government created and

375
00:29:42.279 --> 00:29:48.000
I created an association or something something
that I don't think that's don't really exists,

376
00:29:48.640 --> 00:29:55.440
and argued that we manufacturers in Algeria. That's what I really I said,

377
00:29:55.440 --> 00:29:56.880
I have to go to a pajab
wall because when you're not talking to

378
00:29:57.000 --> 00:30:00.799
government, when you are in the
passing. Of course, some people are

379
00:30:00.839 --> 00:30:04.440
actually good, they are life and
misrepresents your industry and say things that are

380
00:30:04.440 --> 00:30:07.359
not So they went today to the
government and said that we don't have the

381
00:30:07.400 --> 00:30:12.319
capacity. Let me just scure people
have been to my factory. If two

382
00:30:12.319 --> 00:30:17.759
factories and legals are having a player, I have university of legals. My

383
00:30:17.920 --> 00:30:22.000
combined one shift, I can't do
two shifts. But let us even stay

384
00:30:22.039 --> 00:30:30.960
one shift. My combined assembly capacity
in Ningeria at the moment, it's more

385
00:30:30.079 --> 00:30:34.480
than nine thousand years a year.
That's not that's not that's not petty.

386
00:30:34.559 --> 00:30:42.880
That's that's large. Yes, and
I do not sell can more than two

387
00:30:44.000 --> 00:30:48.079
hundred units a year? Oh so
you can't do it. You can't do

388
00:30:48.160 --> 00:30:52.160
the mathematics, dud. The racially
do the facenties. So I'm not even

389
00:30:52.319 --> 00:30:57.200
doing I must even doing anything close
to what my capacity is, not even

390
00:30:57.720 --> 00:31:03.519
ten cents, not even five percent
of my capacities. Not one percent,

391
00:31:03.640 --> 00:31:08.559
bro, you know, no a
little bit about one percent. Maybe you're

392
00:31:08.559 --> 00:31:12.279
about two, about two point two
or so, maybe maybe maybe two percent.

393
00:31:14.720 --> 00:31:18.599
So my factory is you can't even
go there. My factory is always

394
00:31:18.680 --> 00:31:22.680
closes. Wow, Come on,
man, bro, let me just say

395
00:31:22.759 --> 00:31:27.559
something. And we've been robbed three
times in your three times? Do you

396
00:31:27.640 --> 00:31:30.480
know why we do? In my
opino? Do you know why we've been

397
00:31:30.519 --> 00:31:36.400
robbed three times? We look a
lot of money, a lot of my

398
00:31:36.480 --> 00:31:38.400
couperance. But toldna, do you
know why we've been robbed? Because the

399
00:31:38.519 --> 00:31:45.319
factory is always closes? Wow?
If we if were if it was walking,

400
00:31:45.599 --> 00:31:48.519
if it wasn't working, peopling where
you're always making things. Because the

401
00:31:48.599 --> 00:31:52.759
people the wasing Robe, it was
bobbling, you know, you know they

402
00:31:53.000 --> 00:32:00.720
it was those bubble a people that
were very hungry or broad in the blood,

403
00:32:00.759 --> 00:32:02.599
went in broke, broke into the
and you know what, I love

404
00:32:02.640 --> 00:32:07.759
the same guys because they've always broken
that same place, that same the same

405
00:32:07.839 --> 00:32:15.000
patime Lena friend, the same way
you say, oh, why don't you

406
00:32:15.160 --> 00:32:19.759
use these electric phase or this was
that our power? I use that factory

407
00:32:20.519 --> 00:32:25.440
because I can basically I can't.
I can produce what I get it on

408
00:32:27.079 --> 00:32:31.720
into this mhm. You know the
time I can produce what that what they

409
00:32:31.799 --> 00:32:36.440
put out demand I have for an
entire I can produce it in just to

410
00:32:36.599 --> 00:32:40.319
this. Do you think I'm going
to pass the crazy start? That's an

411
00:32:40.519 --> 00:32:45.200
absolutely mind blowing start. It just
said there. I mean, I mean,

412
00:32:47.039 --> 00:32:50.960
there's no way we when we leave
a lot of things. So now

413
00:32:51.000 --> 00:32:53.079
but yeah, we've got a lot
of curiosity there, everybody's there, but

414
00:32:54.400 --> 00:33:00.200
we're still I'm not doing anything.
So so people went to a would ya

415
00:33:00.319 --> 00:33:06.240
and lie that we don't have compacity. That's not true. So because of

416
00:33:06.359 --> 00:33:12.480
that, they decided to scrap these
sensis, which was making people mean manufactured

417
00:33:12.559 --> 00:33:17.440
because ANI and invest. So what
has happened now since twenty twenty is that

418
00:33:19.359 --> 00:33:22.720
a lot of the people that are
those doing these we I don't blame them

419
00:33:22.759 --> 00:33:27.759
anyway. You know that those doing
this for the purely financial reasons and everything.

420
00:33:27.799 --> 00:33:35.759
I've stopped investing auto industry and people
like us that have the drive that

421
00:33:37.279 --> 00:33:43.279
that are doing it for some patroxic
reasons, you know, mixed with financially

422
00:33:43.279 --> 00:33:45.400
you know, you know, and
also, like I said, we've also

423
00:33:45.559 --> 00:33:50.519
trained. I spent a lot of
my technical team for training. We spent

424
00:33:50.599 --> 00:33:54.559
a lot of money on training them. We both equipments. If I stopped

425
00:33:54.759 --> 00:34:00.279
assembling, it means that happened,
Ladysheople go, yeah, b it means

426
00:34:00.319 --> 00:34:02.799
I have to lose that train investments. It means I have to lose a

427
00:34:02.839 --> 00:34:07.400
lot of investments. So just carrying
that cost, just carrying that costs exactly

428
00:34:07.599 --> 00:34:14.320
what I'm doing now is we're we're
trying to cut our costs as much as

429
00:34:14.360 --> 00:34:16.519
we can, try to feel okay, how we can do a high bred

430
00:34:16.679 --> 00:34:21.880
of you know, not losing too
much money, and hoping that sooner,

431
00:34:22.960 --> 00:34:29.519
as soon as possible, the government
will see that this is an industree that

432
00:34:29.599 --> 00:34:34.280
can create tens of thousands of jobs. That's the thing. It brands you

433
00:34:34.519 --> 00:34:39.519
in Gerney model of industries. That's
the thing, that's the mind blowing thing.

434
00:34:39.639 --> 00:34:43.559
I mean, you are. That's
why I wanted to bring you to

435
00:34:43.599 --> 00:34:45.880
the space. You know, most
of the stuff you're saying, I want

436
00:34:45.960 --> 00:34:50.800
you to come and see it,
just so Pople understand what you're going through

437
00:34:50.880 --> 00:34:53.960
you you you are carrying costs.
You are telling us here just because are

438
00:34:53.960 --> 00:35:01.079
you saying it's nine thousand or eighteen
thousand capacity? Nine nine total? So

439
00:35:01.239 --> 00:35:07.199
you're you're not doing man, You're
not You're not doing five percent of your

440
00:35:07.239 --> 00:35:09.760
capacity, not because you don't want
to do it. Took over a policy.

441
00:35:10.159 --> 00:35:15.440
No, when you come to my
factory, I'm always we're always board

442
00:35:15.639 --> 00:35:20.519
always, I do every month.
Question for you, A question for you.

443
00:35:20.639 --> 00:35:23.280
Did the CB and all the seben
interventional loans? Did you get any

444
00:35:23.320 --> 00:35:28.159
of dad? I didn't get any, not one, but you could.

445
00:35:28.320 --> 00:35:35.519
Unemployed people were applied, but we
didn't get you applied. What's going on?

446
00:35:35.599 --> 00:35:39.519
Don't anybody listen to you? They
are listening, trust me. I

447
00:35:39.880 --> 00:35:45.199
don't know if they're listening. Board. We can easily make this country grease.

448
00:35:45.840 --> 00:35:50.559
It's not to it's a'most the same
too. But there are a lot

449
00:35:50.599 --> 00:35:58.880
of low and includes a look.
So so you know we didn't get we

450
00:35:59.400 --> 00:36:02.840
requested for within get okay, if
you come, if you come, if

451
00:36:02.880 --> 00:36:07.199
you if you ever come, I
don't know if you ever come for We

452
00:36:07.320 --> 00:36:09.000
have with some applciation. We have
an indust to be right. We have

453
00:36:09.039 --> 00:36:15.280
a subcicition, namas not nation or
the motive manufacturer suspicion. If you ever

454
00:36:15.360 --> 00:36:19.880
come for our midsins, if you
year the allegations, the things that go

455
00:36:20.039 --> 00:36:25.079
on, how people are upset,
how people are upset about some things that

456
00:36:25.119 --> 00:36:29.239
are not rights in industry, you
will you will shake your head. Okay,

457
00:36:29.280 --> 00:36:30.840
and again just for the record,
Just for the record, I'm gonna

458
00:36:30.880 --> 00:36:35.639
ask this like the question so if
I was to ask you the one thing

459
00:36:35.920 --> 00:36:38.920
or the the what's the largest expense
apart in your factory? Is its power?

460
00:36:39.199 --> 00:36:43.159
Is it? Is it wages?
Is it? Is it policy in

461
00:36:43.239 --> 00:36:45.800
action? Let's put policy in astionals
an expense because I would ask you that

462
00:36:46.199 --> 00:36:51.800
separately. So so very good nor
asker. Let me answer that. So,

463
00:36:52.679 --> 00:36:57.960
so I have an amba, like
I want to finances, I'm going

464
00:36:58.000 --> 00:37:00.679
to ask that this the right way. So the out I want to give

465
00:37:00.679 --> 00:37:07.880
you an issue is not really an
it's not an expense. It's not an

466
00:37:07.920 --> 00:37:13.000
expense. It's something where you will
go with our outsighting jo is it will

467
00:37:13.039 --> 00:37:17.840
go on down way you call cost
of sale. So and if you refuse

468
00:37:17.960 --> 00:37:28.760
this, so the most expensive paths
of my pian l was basically you know,

469
00:37:29.480 --> 00:37:35.639
is a cost of sealighting, which
is the still okay, the still

470
00:37:36.360 --> 00:37:44.360
depody hearing de body that's used in
making the cars. Is that that's important,

471
00:37:45.719 --> 00:37:51.880
Yes, that's I'm going to It's
all important because we do not have

472
00:37:52.519 --> 00:37:57.920
a still plans in an Enginia.
A lot of my partners outside anger are

473
00:37:59.039 --> 00:38:08.039
wondering because like evenly located can have
this, you know, so let me

474
00:38:08.119 --> 00:38:12.199
put it's the most and if you
let me, let me know why.

475
00:38:12.199 --> 00:38:15.360
It's very important right now. I
told you now because of a lot of

476
00:38:15.559 --> 00:38:17.079
important positions that we do here.
We make a lot of our parts in

477
00:38:17.119 --> 00:38:22.480
Angeria. We make about text percent
of our parts hearing aingeria, our grus

478
00:38:22.519 --> 00:38:24.719
a don't hear in Algeria. Those
are our plastic parts are don't hear in

479
00:38:24.760 --> 00:38:30.920
Ageria. So now, but it
still I would love to do this ceiling

480
00:38:30.920 --> 00:38:35.239
in Algeria because apart from the I
often the fact that it's a seen of

481
00:38:35.360 --> 00:38:39.280
pride if we make this seal in
Algeria, we would so let me when

482
00:38:39.320 --> 00:38:42.920
I make still, I have to
buy after when I buy still have to

483
00:38:43.000 --> 00:38:46.400
buy this seal. I buy many
from China because China has chips steal and

484
00:38:46.599 --> 00:38:51.639
also very good still so a buying
the body from China and I have to

485
00:38:51.719 --> 00:38:55.159
nownce chip it from China. So
about from the costs of the ceiling self

486
00:38:55.199 --> 00:39:00.960
the body itself, there's those are
these freet costs and also the logistics cost

487
00:39:01.079 --> 00:39:10.119
of moving it from the pots down
to the factory now in Nigeria in Legos,

488
00:39:12.719 --> 00:39:15.800
pots to Legos. Okay, yeah, so a container a container at

489
00:39:15.800 --> 00:39:22.639
the moment is around four thousand,
five hundred dollars for a fourty foot container.

490
00:39:24.360 --> 00:39:30.480
So maybe you can do two per
container, two body per container,

491
00:39:30.599 --> 00:39:34.920
so you can divide us about that's
just two two thousand, two round fifty

492
00:39:35.159 --> 00:39:38.960
per car added to the cost of
the body itself. Then the cost of

493
00:39:39.039 --> 00:39:45.320
logistics from the pots to your factory. Wait quick question QUI quickly if we

494
00:39:45.519 --> 00:39:52.920
get this still in Nigeria, I
can as show you for my analysis atist

495
00:39:52.960 --> 00:40:00.360
in a couple of interviews the cost
they only cost the retail price we already

496
00:40:00.400 --> 00:40:06.079
fifty percent or forty percent depend on
the of the model, lower than most

497
00:40:06.199 --> 00:40:14.039
other international brands in Nigeria. M
Our retail price will drop as much as

498
00:40:14.119 --> 00:40:19.239
ten percent of the packer. Question
for you, wait, when you say

499
00:40:19.239 --> 00:40:22.679
you're important steel, are you important
the flat sheets or the already mold sheets.

500
00:40:22.719 --> 00:40:30.519
What a steel the already okay,
that's even where in some cases not

501
00:40:30.599 --> 00:40:36.239
where the okay, okay, you
already mooded because okay you can that person

502
00:40:36.400 --> 00:40:40.679
is because we can do the pressing
machine. The pressing Yeah, we need

503
00:40:40.840 --> 00:40:49.239
we need about five thousand units too
to make it viable. Oh. Problem

504
00:40:49.480 --> 00:40:53.719
interesting because niger Nigeria is buy more
than five hundred thousand vs every year,

505
00:40:53.960 --> 00:40:59.360
so the five thousand percent of the
markets. But the problem is that more

506
00:40:59.400 --> 00:41:02.000
than five a tent of that it's
used already. It used to came.

507
00:41:04.679 --> 00:41:07.320
Man, you are opening up a
lot of avenues here. I was gonna

508
00:41:07.320 --> 00:41:10.159
ask you a simple questions. Let
me ask you your important. Still there's

509
00:41:10.199 --> 00:41:15.000
a quota, there's Delta, there's
Jaws, there's a showble, there's Katsina.

510
00:41:15.519 --> 00:41:23.559
You can't get still from any still
factory in Nigeria. Uh No,

511
00:41:23.960 --> 00:41:28.719
you can't. I've done the working
that you can't. You travel and travel

512
00:41:28.800 --> 00:41:31.960
and travel. Wow, beautiful Nigeria, Andreia is beautiful. We have good

513
00:41:32.039 --> 00:41:37.480
landskips. Before I handle about the
micause poor are waiting, poor hands at

514
00:41:37.519 --> 00:41:42.000
rob Let me just go back to
this strategy and the last question. Nigeria

515
00:41:42.119 --> 00:41:45.320
has a lot of gas. We've
seen them do the CG. You know,

516
00:41:45.440 --> 00:41:47.400
we want to convert to gas.
MABE has an advantage. Is cheaper

517
00:41:47.440 --> 00:41:52.760
than fuel. Do you think on
a strategic level Nigeria should maybe trust to

518
00:41:53.280 --> 00:41:59.519
CNG and focus on that to give
us and you know, a unique selling

519
00:41:59.679 --> 00:42:02.599
point point. So cars out of
Nigeria, our CNG is cheaper. We

520
00:42:04.039 --> 00:42:07.480
give you guys softness to get that. Don't you think it's viable or just

521
00:42:07.719 --> 00:42:12.960
go stick with the petrol and worry
about our stop here. So so this

522
00:42:13.280 --> 00:42:16.599
this is a very it's a good
question. And it's also not just the

523
00:42:16.639 --> 00:42:22.880
commercial question. It's also at the
moment it's globally also politically the political question.

524
00:42:24.400 --> 00:42:36.920
But so Nineria email opinion, Nigeria, I should make decisions in the

525
00:42:37.000 --> 00:42:43.840
best interests of Nigeria, those like
every country is doing. China is making

526
00:42:44.000 --> 00:42:54.559
economic decisions align with the strengths of
China. USC is making decisions in line

527
00:42:54.559 --> 00:42:58.320
with the strength of the US.
Same thing with you and the rest of

528
00:42:59.559 --> 00:43:06.039
Nangeria should do the same. Most
are straights. Nangeria is a gas notion.

529
00:43:06.920 --> 00:43:10.639
We have tones of gas, so
much gas that most of the guys

530
00:43:10.719 --> 00:43:16.199
that were found are actually found when
we're looking for clue. So people will

531
00:43:16.239 --> 00:43:23.519
say, Nageratic gas station with a
drop of oil. We should use more

532
00:43:23.559 --> 00:43:30.400
of this gas. We should gid
more infrastructure for gas. It's cheaper,

533
00:43:32.039 --> 00:43:37.960
is being designated as clean, and
we should also promote it. We should

534
00:43:37.960 --> 00:43:45.199
do more pr on it. Personally, personally, I like electric vehicles when

535
00:43:45.199 --> 00:43:49.760
I outside Nangeria are driving electric vehicles
that I don't know if you there first

536
00:43:49.880 --> 00:43:54.440
to drive, like the the acceleration
is mind blowing, is mind blowing.

537
00:43:55.159 --> 00:44:00.800
But I have to not be selfish
as to ask myself my country and Ageria.

538
00:44:02.519 --> 00:44:12.920
Are we in a position to promote
CNGG or electric or do both?

539
00:44:13.280 --> 00:44:15.480
I would think we should do both
so that we're not left behind when the

540
00:44:15.679 --> 00:44:20.360
rest of the world is doing the
electric. But we should actually also promote

541
00:44:20.360 --> 00:44:22.920
what we are very good at,
which is what we have in our bondance,

542
00:44:22.960 --> 00:44:25.480
which is also the same. So
because at the moment, say,

543
00:44:27.239 --> 00:44:30.079
got patrol is maybe in fact you
heard that they're even subsidize, So that

544
00:44:30.159 --> 00:44:35.280
means that the original price of petrol
at the moment I think anyway in the

545
00:44:35.320 --> 00:44:37.480
world, the original price of patrols. Have our won dollar. So it's

546
00:44:37.480 --> 00:44:40.360
always also as that zero point nine
dollar has ninety cents to one dollar.

547
00:44:40.400 --> 00:44:43.960
That's always the price of petrol or
as reagi any way in the world.

548
00:44:44.559 --> 00:44:51.920
So so, but c N is
around two hundred nar and ageria even though

549
00:44:52.280 --> 00:44:54.679
if in my opinion, but I've
gone around to ask is about two undred

550
00:44:54.679 --> 00:45:01.800
and which means that that's about twin
ten percent the price. So it means

551
00:45:01.880 --> 00:45:08.239
that for somebody who is going to
buy about sixty thousand earths for maybe it's

552
00:45:08.440 --> 00:45:14.760
that the person would be good the
same journey for twenty thousand an ars.

553
00:45:15.360 --> 00:45:21.280
That's significance. If you tell somebody
doing over all this or taxify that instead

554
00:45:21.320 --> 00:45:25.119
of buying ten thousand a earth for
for your for your car, for maybe

555
00:45:25.119 --> 00:45:30.239
a deal or two, if you
buy twenty five two thousand, five hundred,

556
00:45:30.639 --> 00:45:32.400
it will be known for you.
The person will make it jump police.

557
00:45:34.079 --> 00:45:37.079
So I think we should go for
that. But the problem at the

558
00:45:37.119 --> 00:45:43.679
moment is infrastructure, so which can
actually the government does don't have to build

559
00:45:43.679 --> 00:45:50.079
infrastructed themselves. You don't have to
call the private sector and let them know

560
00:45:50.280 --> 00:45:52.519
that this is your policy, and
they will not be policy from ourselves.

561
00:45:52.920 --> 00:45:55.480
We just need to the government is
to show that it can be trusted.

562
00:45:55.519 --> 00:46:00.159
They will be policy for ourselves.
You can invest in this and we will

563
00:46:00.199 --> 00:46:02.840
not do any points from myself,
and I'm sure the Paris and will invest

564
00:46:02.920 --> 00:46:07.800
evenly. I'm very interested in investing
in STAG and also providing my customers all

565
00:46:07.840 --> 00:46:15.639
over Nigeria with saying your points where
they can actually quickly rescue that staying even

566
00:46:15.639 --> 00:46:21.199
because because I really think that this
would be in Nigeria stable. We are

567
00:46:21.280 --> 00:46:24.960
the gas here. Saying that we're
have in effects because we already have it

568
00:46:25.079 --> 00:46:30.960
here, gotcha compressed it and take
it around around the nation makes sense,

569
00:46:31.000 --> 00:46:37.519
So I sell them just sort of
reset the room, summarize and lets folks

570
00:46:37.519 --> 00:46:39.880
speak. I let just let you
know we have about nearly four hundred folks

571
00:46:40.000 --> 00:46:45.679
listening, more than about four undred
and twenty listening. The mentions I'm getting

572
00:46:45.760 --> 00:46:49.199
on my DM certifications are off the
hook. I can't even read them again

573
00:46:49.239 --> 00:46:51.960
up not looking at them again.
There are so many points of what you're

574
00:46:51.960 --> 00:46:55.400
saying, because you are saying what
we see and also saying what we haven't

575
00:46:55.519 --> 00:46:59.440
heard. But we now start to
get a sense of the poet with Nigeria.

576
00:47:00.039 --> 00:47:01.719
Let me just somebody what you've told
us. You used to work in

577
00:47:01.800 --> 00:47:07.880
a company that imports, that does
imports. You saw an opportunity because it

578
00:47:08.000 --> 00:47:14.760
was a police passed by the government. The policy worked, you went and

579
00:47:14.960 --> 00:47:21.039
set up your own local manufacturing in
quote company. That company slope in Nigeria

580
00:47:21.519 --> 00:47:25.960
dropped. Local prices dropped. We're
talking about thirteen twenty six minutes. You

581
00:47:27.119 --> 00:47:32.119
dropped inflation, You hired workers,
you paid taxes in Nigeria. That's what

582
00:47:32.280 --> 00:47:37.519
you were doing. Then the policy, the same posit that encouraged to come

583
00:47:37.800 --> 00:47:43.639
to Nigeria and saw a local manufacturing
center was removed. Now you have a

584
00:47:43.800 --> 00:47:46.760
factory that you have a capacity of
nine times too because you can do two

585
00:47:46.800 --> 00:47:52.440
ships eighteen. You are idle because
you don't get enough demand because price have

586
00:47:52.559 --> 00:47:58.480
gone up. Number one, Number
two you could you could you import your

587
00:47:58.559 --> 00:48:01.840
steel from China even though we have
five steal plants in Nigeria. No,

588
00:48:02.000 --> 00:48:06.719
but tree. You are important the
bent steel, not the flast steal,

589
00:48:06.760 --> 00:48:12.000
because it will take you about five
thousand capacity of vehicles to do that still

590
00:48:12.159 --> 00:48:15.199
bent in Nigeria. If you were
able to do that in Nigeria, the

591
00:48:15.400 --> 00:48:20.159
cost drop by I wouldn't say more. If that cost drops, you sell

592
00:48:20.320 --> 00:48:23.760
more. If you sell more,
your fastest capacity goes up. You're able

593
00:48:23.800 --> 00:48:30.519
to then modernize that factory hire more
people. So the vicious circle starts again,

594
00:48:30.960 --> 00:48:36.119
and it starts and ends with one
word. Policy. The policy brought

595
00:48:36.199 --> 00:48:38.920
you in the post, it took
you out the politics, keeping you where

596
00:48:38.960 --> 00:48:42.599
you are. You've said you want
to go to a poacher and chase that

597
00:48:42.679 --> 00:48:45.280
positive elements doing. I say,
good job, that's what you should do.

598
00:48:45.760 --> 00:48:49.559
That's as my summary and the point
I'm making is this, guys,

599
00:48:49.960 --> 00:48:52.800
when we point to the government,
we don't want to abuse or accuse anybody.

600
00:48:53.000 --> 00:48:55.800
We want to tell the government one
policy. Chane, you've said this,

601
00:48:55.880 --> 00:48:59.960
sir p Pp. You want the
pactical to come in possess myself.

602
00:49:00.599 --> 00:49:07.400
One policy can change the nation because
this is a real example policy. He's

603
00:49:07.440 --> 00:49:10.280
not asking for money. Seeben did
not give him money. He's saying give

604
00:49:10.360 --> 00:49:15.760
him the policy. Let him go
to walk. That's all he has asked

605
00:49:15.800 --> 00:49:17.280
for. That's not too much.
Let me get some guys to speak to

606
00:49:17.320 --> 00:49:20.239
me aside. If you don't,
I don't know how long you're gonna stay

607
00:49:20.280 --> 00:49:27.519
with us. But please yeah,
lots of okay, go ahead, sir,

608
00:49:30.559 --> 00:49:38.159
you've got the floor going once.
Do you understand calm it's been a

609
00:49:38.280 --> 00:49:42.360
very designable, very very where you
call him from. So if you don't

610
00:49:42.400 --> 00:49:47.719
mind, okay, I'm from my
go ahead, sir. Yes, I

611
00:49:47.800 --> 00:49:58.400
think he's just so about that's happen
and get up saying there also have an

612
00:49:58.440 --> 00:50:02.800
Athenabian environment for they supposed to try
get those foreign nationals or n jaans.

613
00:50:04.360 --> 00:50:07.719
And I'm quite I really the fact
that he knows his onion and he knows

614
00:50:07.840 --> 00:50:12.239
where you know, it's actually pinching
him as an individual or it's a business

615
00:50:12.280 --> 00:50:15.559
owner. And I hope I'm going
to make sure our designer are alliance.

616
00:50:15.920 --> 00:50:20.280
And that's why I like he said, as a business person's always good to

617
00:50:20.280 --> 00:50:22.039
be in the limelights and not being
on the back foot other people who know

618
00:50:22.199 --> 00:50:30.440
our invested interests don't come as spoilt
your back good points. I just oh,

619
00:50:30.760 --> 00:50:34.039
do you hanthing he said? Did
you anything? He said? Oh

620
00:50:34.159 --> 00:50:37.400
wow, Wow, he's looking at
some fantastic points. Let me just let

621
00:50:37.440 --> 00:50:42.519
me just summarize. I'll summarize back
to you. He's nig is a very

622
00:50:42.559 --> 00:50:45.480
interesting points, go ahead and something
probably summarily he knows what you want.

623
00:50:46.760 --> 00:50:53.960
There should be a synergy because he's
what he's what the maintain, he said,

624
00:50:54.960 --> 00:51:00.840
holding out environment right, like it's
it. It will be jobs.

625
00:51:01.199 --> 00:51:10.840
Okay, let me where you talk
about him of could you just summarize from

626
00:51:10.880 --> 00:51:14.639
the top to him. I can
hear you now, just summarize from the

627
00:51:14.679 --> 00:51:16.400
top two he can get you what
you're saying. The part about you saying

628
00:51:16.519 --> 00:51:20.719
he has to be visible, to
be visible, So I put on take

629
00:51:20.719 --> 00:51:24.880
away this job. Really, really, I hope that's the only energy between

630
00:51:25.000 --> 00:51:30.039
him as a professional and the governmental
really, because there is an e environment

631
00:51:30.199 --> 00:51:35.000
and policy, everything will walk up
b so that I used, like myself,

632
00:51:35.239 --> 00:51:37.639
you know some of that persons that
our stick when it comes to you

633
00:51:37.719 --> 00:51:44.199
know, getting jobs of being you
know the ely I like occupied will get

634
00:51:44.239 --> 00:51:46.719
a job and it will be better
for the country for your time. Thank

635
00:51:46.760 --> 00:51:51.360
you, thank you. The main
point he said that I want to just

636
00:51:51.599 --> 00:51:53.519
the first thing he said, right, it's very important that you are out

637
00:51:53.679 --> 00:51:58.079
there so that people will know you
and then when they want to pass the

638
00:51:58.159 --> 00:52:00.400
sort of policies they can call you
gonna see it. Does this make sense?

639
00:52:00.480 --> 00:52:02.519
That's the one thing I got from
more he said that you know,

640
00:52:02.599 --> 00:52:06.320
and that's what you want to do. Now that if you are out there,

641
00:52:06.360 --> 00:52:07.360
then they can the government and say
hey, I want to do this

642
00:52:07.679 --> 00:52:12.320
or do that. How would it
affect you? That's the one point I

643
00:52:12.400 --> 00:52:16.639
took away from him. Okay,
let me get Shago surgery. Let let

644
00:52:16.719 --> 00:52:19.679
let's get Shugo out. If you
can't hear pease, let me know.

645
00:52:19.679 --> 00:52:24.679
I had the time. Shugo,
You've got the floor Sago underscore underscore?

646
00:52:24.760 --> 00:52:31.639
Shego go ahead. So how are
you doing to say? Hello? You

647
00:52:31.840 --> 00:52:35.719
mean? Yes? I can?
Mister Jay? Can you hear Shugo?

648
00:52:39.639 --> 00:52:42.960
Okay, Shago? Hold on,
Jake? Can you hear mister Jake?

649
00:52:43.199 --> 00:52:44.840
Can you hear me? In?
Suger? Mister Jay? Can you hear

650
00:52:44.880 --> 00:52:49.639
me? Now? Mister Jay?
Can't hear me? Now? Can you

651
00:52:49.760 --> 00:52:53.119
hear me? I want him to
go off, Yes, I'm here.

652
00:52:53.239 --> 00:52:57.920
I want you to log off and
log back in again. Go off and

653
00:52:58.039 --> 00:53:02.280
come back in again. Can you
hear me? I'm gonna send you.

654
00:53:02.440 --> 00:53:12.159
Let me send you, log off
and log back in. So if you

655
00:53:12.199 --> 00:53:15.159
can hear me, log off and
log back in again, then that way

656
00:53:15.239 --> 00:53:22.559
we I think your your your audience
and connected to the space. Let me

657
00:53:22.920 --> 00:53:25.679
just kick him off and then you
have to come back and will that work?

658
00:53:25.840 --> 00:53:29.360
Shago, just hold him, please, mister Jay, can you hear

659
00:53:29.400 --> 00:53:32.760
me? Okay, I'll tell you
what. Right, I'm gonna kick him

660
00:53:32.800 --> 00:53:37.239
off. Then it's right that way. He has to come back in again

661
00:53:37.599 --> 00:53:39.719
because he can't hear us. So
let me take him off the space.

662
00:53:39.760 --> 00:53:45.239
I'll remove him then if you can, please, mister just walk back in

663
00:53:45.360 --> 00:53:49.800
again. I'll just added to speaker. I'm I'm not sure if you want

664
00:53:49.840 --> 00:53:52.360
to take a question before he comes, or if he doesn't want to top

665
00:53:52.400 --> 00:53:57.159
generally, I think we all heard
what he said. He's been he's talking

666
00:53:57.239 --> 00:54:00.760
from the trenches as they're saying,
quote, So do you want to go

667
00:54:00.840 --> 00:54:04.039
ahead and speak or do you want
to Maybe I can write it down and

668
00:54:04.079 --> 00:54:07.880
when he comes, I could relate
that what you say to him as well.

669
00:54:08.239 --> 00:54:10.599
Okay, I can just gribe and
speak, and then when it comes

670
00:54:10.639 --> 00:54:13.800
back, you can just say,
okay, he says it's back. Let

671
00:54:13.880 --> 00:54:16.079
me let me look for him and
add him. I see him here,

672
00:54:16.440 --> 00:54:20.159
so I'm gonna add him as a
speaker. Gave me a second, I

673
00:54:20.320 --> 00:54:23.239
was gonna add him, so added
you back now as a speaker. So

674
00:54:23.320 --> 00:54:28.079
I want you up there so you
can hear all right, So go ahead,

675
00:54:28.119 --> 00:54:30.519
sugar, I think it's back up, go ahead, okay, thank

676
00:54:30.559 --> 00:54:35.360
you very much. Okay, I
want you my question is actually directly and

677
00:54:36.360 --> 00:54:39.960
it's two indirectly. I want him
to tell loose what's it says something about

678
00:54:40.000 --> 00:54:44.559
it and there's no complaint, there's
no complaint like your life produces still.

679
00:54:45.039 --> 00:54:47.679
I want him to expand ship ad
on that because we are all these two

680
00:54:50.000 --> 00:54:52.239
Look, yes, I can hear
you, yeah, I can back,

681
00:54:52.360 --> 00:54:54.679
I can hear you. Oh,
all right, thank you, because we

682
00:54:54.760 --> 00:54:59.800
have all these two complain literally around
the country. We have their job details

683
00:54:59.800 --> 00:55:01.880
A. And then I'm surprised to
hear that there's none of them is producing.

684
00:55:01.920 --> 00:55:07.079
Maybe it's still great still vehicle manufacturing
great still that you can use in

685
00:55:07.440 --> 00:55:12.159
your process or your production process.
Look see that they are not Okay,

686
00:55:13.159 --> 00:55:15.519
okay, okay, I don't we
don't it don't so I can answer I

687
00:55:15.519 --> 00:55:17.639
thought you were, don't Is it
that it's still the kind of the quality

688
00:55:17.679 --> 00:55:22.079
of still the manufacturer is not up
to the standard you can use in vehicle

689
00:55:22.159 --> 00:55:25.559
manufacturing process or they don't those do
something that you guys need. That's my

690
00:55:25.719 --> 00:55:35.920
question. Okay, so vote what
the quality of still are the type of

691
00:55:36.039 --> 00:55:39.760
still that we need and not be
media like mister College said, we need.

692
00:55:40.280 --> 00:55:45.039
We need flat hits that are rude, you know, but basically flat

693
00:55:45.159 --> 00:55:50.199
hits. So you take it to
a pressing machine that cuts so further way

694
00:55:50.199 --> 00:55:52.960
it cuts him? Do you cut
it? Then you press it into the

695
00:55:54.000 --> 00:55:58.599
ship that you want after you create
a mood. So you create a mood,

696
00:55:58.920 --> 00:56:02.800
you take the mood to the press
same machine. Then the pressing room

697
00:56:02.840 --> 00:56:07.599
on the pressing machine presses them.
You get your ship. So they don't.

698
00:56:07.639 --> 00:56:12.079
We don't make swatching anderia. What
we usually make a still for maybe

699
00:56:12.119 --> 00:56:17.840
construction and a couple of things,
but not for the type that is needed

700
00:56:17.920 --> 00:56:25.159
for making us. So that's that's
the issue. And even if even if

701
00:56:25.519 --> 00:56:32.480
you find a place that can make
that kind of still for the auto sector.

702
00:56:34.559 --> 00:56:37.960
Well, I went to the task
still. I saw them making from

703
00:56:37.000 --> 00:56:42.480
still, but they only do watching
it for construction. Like I said earlier,

704
00:56:42.519 --> 00:56:45.760
they couldn't do what we wanted,
and they were not really interested in

705
00:56:45.920 --> 00:56:52.320
doing what we wanted for interesting and
they will only be interested or suppose it's

706
00:56:52.360 --> 00:56:57.320
saying the government would maybe subsidize the
price they're not interested because it's not Yeah,

707
00:56:57.360 --> 00:57:01.519
exactly, it's a going business.
They need volume to this. It's

708
00:57:01.559 --> 00:57:07.719
very nity volume to provide incentive for
them to do that. Correct, He's

709
00:57:07.760 --> 00:57:08.679
just like, let me give it
a good example. It's just like the

710
00:57:08.760 --> 00:57:14.840
classes too. I wanted to start
making because we buy our glass from China.

711
00:57:15.000 --> 00:57:16.960
Also, I wanted I just about
say that, you know what coming,

712
00:57:17.039 --> 00:57:21.159
what's this glass now? Classes in
three thousand years with the commos,

713
00:57:21.880 --> 00:57:24.239
you know. So I went to
the company that makes I went finding events

714
00:57:24.800 --> 00:57:29.079
and I met this company that makes
glass in Injuria. In fact, they

715
00:57:29.199 --> 00:57:32.880
make the bottle for one of the
biggest beauties in Anginia, in fact,

716
00:57:32.880 --> 00:57:36.880
two of the biggest buries in Anginia. That's where all picked the leg us

717
00:57:36.920 --> 00:57:40.119
in southwest there right there, yes, And I spoke to them and I

718
00:57:40.159 --> 00:57:44.119
said, can you please make I
don't want to stop. I don't want

719
00:57:44.119 --> 00:57:47.400
to be importting my glass anymore.
The wind shield can you please make them

720
00:57:47.440 --> 00:57:50.960
for me? And they were very
interested. They were happy. They look

721
00:57:51.000 --> 00:57:53.480
what I was doing. Of course, eventually came down to the numbers.

722
00:57:53.920 --> 00:58:01.239
They gave me a mini moment I
want to have to do, which I

723
00:58:01.440 --> 00:58:07.039
know were the calling throat. I
won't do in fifty years, so I

724
00:58:07.119 --> 00:58:12.719
couldn't do it. So we telling
me to do. I know, and

725
00:58:12.880 --> 00:58:15.599
you are it's lesser than and you
are is less than as group and five

726
00:58:15.599 --> 00:58:21.760
percent of majeracity annual carb in demand. I'm come and give less than as

727
00:58:21.800 --> 00:58:27.159
group and five percent. Oh,
we couldn't do it because we do not

728
00:58:27.519 --> 00:58:30.760
five brown new vehicles in no BROWNI
vecus in Nangia. So it's all.

729
00:58:30.840 --> 00:58:35.840
It's were back to capacity, We're
back to utilization. We're back to all

730
00:58:35.880 --> 00:58:38.719
that which is the only government and
solved the only governmic and create that mask

731
00:58:38.840 --> 00:58:44.239
capacity, mask market. So thanks
schegl great question. Thanks. Let me

732
00:58:44.320 --> 00:58:47.719
get my I go I go to, I go to or I go to.

733
00:58:47.960 --> 00:58:52.519
Yeah, I just go, yes, go ahead. What are you

734
00:58:52.599 --> 00:58:57.360
calling from? When the Caribbeans for
work right, and we met some governmental

735
00:58:57.440 --> 00:59:02.159
fishers and they were talking about ex
important cars from Ningeria, So I don't

736
00:59:02.199 --> 00:59:06.760
know where you are in the import
side of things, and they were telling

737
00:59:06.880 --> 00:59:09.679
us so much about how they want
imports cars from the interior. I don't

738
00:59:09.679 --> 00:59:14.039
want to do business with my interior. So I don't know if you've seen,

739
00:59:14.599 --> 00:59:17.039
if you've been to the Caribbeans to
talk to them and see about if

740
00:59:17.079 --> 00:59:21.920
we cannot meet your capacity in Ningeria, maybe the Caribbean market might be an

741
00:59:21.960 --> 00:59:27.599
attractive area. What what what's what
Caribbean states were? We were in Antigue

742
00:59:27.599 --> 00:59:34.639
ware A Jamaican and just Barbados,
just around that area where those dream some

743
00:59:34.840 --> 00:59:37.559
work for the pots, right and
they're talking about, oh yeah, you're

744
00:59:37.559 --> 00:59:40.920
an interior. They got excited and
like here we're looking at our buying cars

745
00:59:42.039 --> 00:59:46.199
from Nigeria to meet our man and
stuff like that market. I don't even

746
00:59:46.239 --> 00:59:51.599
the talk. They said, innocent, let's talk about innocent, and I

747
00:59:51.719 --> 00:59:55.000
actually also actually talked maybe innocent one
the only one. We're making an idea

748
00:59:55.079 --> 00:59:59.920
that I realized that you existed.
So I don't know how far you've seen

749
01:00:00.039 --> 01:00:05.320
the exports market, how the Caribbean
looks like. But the government officials showed

750
01:00:05.360 --> 01:00:08.800
a lot of interest. So no, so they you're very right. They

751
01:00:09.159 --> 01:00:14.519
they've contracted us. A lot of
them are protracted us from Jamaica, from

752
01:00:14.599 --> 01:00:22.599
Saint Kids, from even Barbados.
So a lot of Jamaican government officials right

753
01:00:22.639 --> 01:00:28.599
away have contracted us and we're speaking
with them. But so in fact,

754
01:00:28.639 --> 01:00:31.800
we even got the dealer I can't
remember his him now sign the dealership contract

755
01:00:31.840 --> 01:00:36.880
with him. I was supposed to
go to distilizing, isn't Jamaica. So

756
01:00:37.920 --> 01:00:44.079
so we're looking at it. We
are seriously considering it. However, I

757
01:00:44.320 --> 01:00:49.039
do not think the market is that
big, but it's it's very it's very

758
01:00:49.119 --> 01:00:52.280
interesting. I like the fact that
they like US. I like the fact

759
01:00:52.320 --> 01:00:55.360
that even though they're closed out to
the US market, they're also really very

760
01:00:55.400 --> 01:00:59.880
like you said, they are very
keen. They're always asking those are all

761
01:01:00.000 --> 01:01:05.480
we send those messages? You know, very very very very encouraging. That's

762
01:01:05.519 --> 01:01:08.079
the word, very encouraging, you
know. So, but the market is

763
01:01:08.119 --> 01:01:14.519
not very big. I think the
the eyes demand is about so and see

764
01:01:14.599 --> 01:01:19.480
units a year. Then the dealershiper
goes, which is interesting, is good,

765
01:01:20.000 --> 01:01:22.480
but you know, not it will
make it will not probably solve some

766
01:01:22.519 --> 01:01:25.320
of the problems talking about so what
we are looking at it, and very

767
01:01:25.400 --> 01:01:30.719
soon we will be important in something. And we also important we just before,

768
01:01:30.800 --> 01:01:36.679
just after COVID, before Egypt got
into this very big problem of their

769
01:01:37.800 --> 01:01:43.519
effects, we sold some of our
NO tanks to Egypt, and we also

770
01:01:43.599 --> 01:01:49.119
even got an Egyptian dealership. But
next thing, Egypt gots into a bigger

771
01:01:49.159 --> 01:01:53.440
effects issue than ageria artry. It's
bigger than angeriassip so so they couldn't import

772
01:01:53.719 --> 01:02:00.639
anything, could look at their capital
just curiously, why are they interesting like

773
01:02:00.800 --> 01:02:04.760
you are all the way from there? Is it because we're quote unquote in

774
01:02:04.840 --> 01:02:08.559
the same you know, demographic Why
do you think they're interested in in why?

775
01:02:08.920 --> 01:02:12.760
It's a good question, and I
have not asked them because I don't

776
01:02:12.760 --> 01:02:15.119
want I don't want to. I
don't want to come across as being yeah,

777
01:02:15.760 --> 01:02:22.840
not worthy of the of the I
don't don't go now. Yeah,

778
01:02:22.440 --> 01:02:25.559
but what I've analyzed it, so
for the Egyptian wants, let's have of

779
01:02:25.639 --> 01:02:32.000
the Egypt. For Egypt, I
think they realize that it was we're affordable

780
01:02:32.519 --> 01:02:38.440
compared to the all the planities in
their markets. Realize, well, we

781
01:02:38.480 --> 01:02:43.400
are affordable. And I was very
contacted over and this is like, so

782
01:02:43.840 --> 01:02:46.039
I'm not very happy to command is
not good because that would have been a

783
01:02:46.119 --> 01:02:51.400
big market. I'm even bragging right
for us because these guys they we're using

784
01:02:51.440 --> 01:02:54.960
it with security company, very popular
security company in Egypt, you know,

785
01:02:55.480 --> 01:03:00.679
with their quarters and so they would
have been a very big market for then.

786
01:03:00.519 --> 01:03:04.119
So like I said, we're buying
for most because we had a better

787
01:03:04.239 --> 01:03:13.440
price than the other mostly also Japanese
uh substitutes in Egypt interesting interesting. The

788
01:03:13.760 --> 01:03:16.920
Caribbean also we have we're also having
ganna. We have a lot of note

789
01:03:16.960 --> 01:03:22.079
becus in that as people who tell
our bosses, and I think those derisions.

790
01:03:22.119 --> 01:03:24.599
Also because we're a lot of cheaper, we're a lot more affordable than

791
01:03:25.400 --> 01:03:35.360
the important that's important. So that
means that means sorry, that means that

792
01:03:35.480 --> 01:03:37.960
if you were able to get this
stuff in n you, I know your

793
01:03:37.079 --> 01:03:44.519
role presses your power most the entire
Africa. Africa is interesting. I can

794
01:03:44.639 --> 01:03:47.320
see it already. We will,
we will just easy. So I mean

795
01:03:47.400 --> 01:03:52.679
if if does someone, it does
someone in government listening to you now right,

796
01:03:52.800 --> 01:03:54.400
I mean this is he's giving you
a low hanging fruit, you know,

797
01:03:54.559 --> 01:03:58.880
invest in the role press for him. He can do more cars.

798
01:03:58.960 --> 01:04:00.719
He can drop his car and they
can do much more. Just I'm just

799
01:04:00.880 --> 01:04:04.519
putting out there. But then let
them take women wommy high women or more

800
01:04:04.599 --> 01:04:09.719
lab how name right? Please please
yeah, yeah, yeah, you're right.

801
01:04:10.199 --> 01:04:14.159
Thank you mister Carlo and mister Jay, you for giving us this opportunity

802
01:04:14.679 --> 01:04:17.760
in notes to give us the eyes
every of business in Injia, but just

803
01:04:17.920 --> 01:04:23.320
have a coold question. I get
the problems that it's going to in Injinia,

804
01:04:24.800 --> 01:04:30.639
but education is restart. We don't
produce flat sheets which enables mister Jay

805
01:04:30.880 --> 01:04:35.960
to imports from China which has become
developed the biggest prize market or whatever.

806
01:04:36.480 --> 01:04:42.159
But then I see a problem however, education is why don't we have a

807
01:04:42.280 --> 01:04:46.039
set markets in Injuria. Mister she
tried to answer our question, but then

808
01:04:46.159 --> 01:04:49.920
mischarge. I responded with they're gonna
give you some pots which is the travel

809
01:04:50.079 --> 01:04:55.440
is your point five percent of the
car's de margin Ingeria. But then again

810
01:04:55.480 --> 01:04:59.679
it's why should Najeria view all your
markets? Why can't you think about exporting?

811
01:05:00.119 --> 01:05:03.320
But my main question is why don't
we have a flashets markets in Interia.

812
01:05:03.920 --> 01:05:10.360
That's a question not questionable one occasion
number two, If the government can't

813
01:05:10.400 --> 01:05:15.480
do anything, why can't your private
investors to solve these problems? We cannot

814
01:05:15.519 --> 01:05:20.000
necesaribrate for governments every time, but
why can't your private investors to solve this

815
01:05:20.119 --> 01:05:26.119
problem? We have flashes problem and
Injeria the governments do anything. Why don't

816
01:05:26.199 --> 01:05:30.920
we have private investors to try to
solve these problems so that your job as

817
01:05:30.960 --> 01:05:32.960
a car mancucturer is going to be
easy. Stort of solving from China,

818
01:05:33.239 --> 01:05:38.360
true, thank you? Good questions? Is China good? Good question?

819
01:05:40.400 --> 01:05:43.719
Something? No? I mean she, I mean she's asked you just more

820
01:05:43.800 --> 01:05:47.920
detail. I have a flash in
Nigeria. We don't because we don't have

821
01:05:48.000 --> 01:05:50.760
any we have any steel plants in
Nigeria. That's a simple answer. We

822
01:05:50.840 --> 01:05:56.599
have no steel plants in Nigeria,
only the one in from We don't have

823
01:05:57.800 --> 01:06:01.960
the thing. And why we don't
have the volume, It's an economic question.

824
01:06:02.159 --> 01:06:06.280
Like you know, people always say
em the numbers don't lie, you

825
01:06:06.400 --> 01:06:12.519
cannot like what are economies will always
find this level. We don't have the

826
01:06:12.719 --> 01:06:16.920
volume because we don't have the volume
for the brand new in Nigeria. So

827
01:06:17.239 --> 01:06:21.159
we need to do something and that's
where the government comes in. We need

828
01:06:21.199 --> 01:06:30.639
to do something to encourage Nigeria to
start to buy brand new vehicles because we

829
01:06:30.760 --> 01:06:33.519
have the markets. We don't have
a problem with a lot of smaller countries.

830
01:06:34.719 --> 01:06:40.320
We are a big country. We
have the markets. Even if you

831
01:06:40.440 --> 01:06:43.519
say, oh, only ex amounts
of the Nigerias are in the middle class.

832
01:06:43.840 --> 01:06:46.960
That number let's say twenty percent.
That number is bigger than the size

833
01:06:46.960 --> 01:06:51.000
of a lot of African countries.
So we have in markets. All we

834
01:06:51.079 --> 01:06:58.960
need to do is create the right
policy that would ensure that people can be

835
01:06:59.079 --> 01:07:04.920
able to buy brand new vehicles made
in the country. The after conquestion is

836
01:07:05.000 --> 01:07:13.400
why are we moving? The moving, the the the respondent to the government,

837
01:07:13.800 --> 01:07:16.960
why why I think we are not
moving in any respons governments. Like

838
01:07:17.320 --> 01:07:23.719
ms said, we already we're not
asking the government for forms. I said,

839
01:07:23.880 --> 01:07:28.599
not without government forms. We got
private investors from Nangeria and outside Naeria.

840
01:07:29.480 --> 01:07:34.079
We just need enibling environment. We
just need I think, mister J

841
01:07:34.679 --> 01:07:36.880
again you're being a bit too modest. So let me just say this,

842
01:07:36.960 --> 01:07:43.440
Facer right, there is no car
company on Earth, America, Russia,

843
01:07:43.920 --> 01:07:49.960
South Korea that has been built with
doubt government direct funding, direct patronage,

844
01:07:50.159 --> 01:07:57.760
direct policy, not even indirect direct
Tesla today he was his own private capital.

845
01:07:57.840 --> 01:08:00.079
I get it. But without the
government's subsidi on electricity, he won't

846
01:08:00.119 --> 01:08:05.239
sell one Tesla. One samething with
China, sameing with America for the GM

847
01:08:05.480 --> 01:08:10.239
all those guys. So the government
has to create skill for you, sir,

848
01:08:10.360 --> 01:08:12.880
which means I look at what you
just said, we've identified those from

849
01:08:12.920 --> 01:08:16.600
critical part. For you've said there's
still present mill it's gonna cost you millions

850
01:08:17.359 --> 01:08:20.399
cbn. Or whoever can buy it
for you and give it to you on

851
01:08:20.520 --> 01:08:25.079
higher purchase or list purchase you they
buy it, give it to you and

852
01:08:25.199 --> 01:08:27.479
you pay back. As you sell
every card, every car you sell,

853
01:08:27.800 --> 01:08:30.119
you take ten percent and you pay
back the government fifty year loan. Who

854
01:08:30.199 --> 01:08:33.920
cares fifty year loan? You're paying
back. But you are creating jobs in

855
01:08:34.039 --> 01:08:38.640
Nigeria. You are creating capacity in
Nigeria. That's how you do it.

856
01:08:39.079 --> 01:08:44.159
But to say that only you and
your investors you can investment is still bending

857
01:08:44.279 --> 01:08:46.399
plan. That's too much capital for
you, sir to know. Yes,

858
01:08:47.920 --> 01:08:55.079
because we're not sure that the business. It's not your job to do that

859
01:08:55.479 --> 01:09:00.600
our business. I want to make
this make still, not like I'm buying

860
01:09:00.640 --> 01:09:03.199
still. They don't win the busiers
of making casts. Not still. It's

861
01:09:03.239 --> 01:09:06.079
like you're saying, because you have
a restaurant, you have to agree or

862
01:09:06.319 --> 01:09:10.199
right, that's a we won't do
that. And again, just to be

863
01:09:10.239 --> 01:09:14.239
clear on these still questions, she
was asking Nigeria at Jilcutta was designed to

864
01:09:14.319 --> 01:09:17.199
make the flat shits. The flashes. So if you don't make flat shits,

865
01:09:17.239 --> 01:09:20.399
you can't develop as a nation in
quote right, But what they make

866
01:09:20.520 --> 01:09:24.680
now is the most of the roads. So you see roads, you see

867
01:09:24.720 --> 01:09:28.479
those round other things. Construct that's
what they really focus on in Nigeria and

868
01:09:28.520 --> 01:09:32.720
still manufacturing. A Jacuta is still
planned. Delta is delta or show boats?

869
01:09:32.720 --> 01:09:36.239
Are all it? Direct delta?
Yeah, they all direct steel reduction

870
01:09:36.359 --> 01:09:40.960
plans. They were supposed to.
They do something different. Agacuta is supposed

871
01:09:40.960 --> 01:09:44.880
to do. The one in Kaduna
is one as a bit revolutionary that's gonna

872
01:09:44.960 --> 01:09:49.840
do. The RII direct reduction iron
technology is like a Jilcutta. Like a

873
01:09:49.920 --> 01:09:55.560
Jilcutta. It would make still so
hopefully. But again this issue is scale

874
01:09:55.960 --> 01:09:59.399
because Misagel can't go and buy one
bill of steel. No, that doesn't

875
01:09:59.439 --> 01:10:02.439
make sense for the Still the partway
to run is funness to supply one bill

876
01:10:02.520 --> 01:10:05.960
to mister Jay. They need to
get an order. That's why Jakota cannot

877
01:10:06.000 --> 01:10:10.960
start working. You need to have
a five year order, five year row

878
01:10:11.039 --> 01:10:15.680
materials on ground before you turn down
my career over and call the funness on.

879
01:10:15.000 --> 01:10:19.680
Otherwise the team will just knock in
quote. So you need capacity you

880
01:10:19.800 --> 01:10:25.760
need to have to forward sales before
you go and turn the factory behind on.

881
01:10:25.920 --> 01:10:28.319
That's what us watching to say,
just to give clarity to that.

882
01:10:28.560 --> 01:10:30.159
But then let us go go go
go quick on the question. Lots quests

883
01:10:30.159 --> 01:10:32.439
are coming in unis. I've got
your right, NIS, go ahead.

884
01:10:34.760 --> 01:10:44.720
Oh thanks for having me, mister
Carl and mister j Hi. Everyone good

885
01:10:44.760 --> 01:10:48.399
evening. What you call it from
unod astion and wherever you no one is

886
01:10:50.319 --> 01:10:54.199
all I have to say. Are
you guys hearing me? Yes, we

887
01:10:54.319 --> 01:11:00.720
are where you call it from.
I'm just calling from s where high.

888
01:11:00.960 --> 01:11:10.199
Go ahead. So my my tink
about this Auto Limited stuff in in nine

889
01:11:10.359 --> 01:11:18.520
in Nigeria is we all know that
steel company is a bad anition. Steel

890
01:11:18.720 --> 01:11:25.960
company is a bad bone of a
nation without a steel company in any nation.

891
01:11:26.359 --> 01:11:30.640
That is why Niningeria is where it
is today, because there's no reason

892
01:11:30.840 --> 01:11:38.000
why the steel company in your rebaland
is not functioning for sixty two years walking

893
01:11:38.079 --> 01:11:43.279
perfectly well. The flash shoot,
we are talking about how many engineers have

894
01:11:43.439 --> 01:11:50.199
turned out in Nanginia universities. How
many engineers have turned out in Nigeria universities

895
01:11:50.239 --> 01:11:57.039
for sixty two years? You mean
the government doesn't have the money with all

896
01:11:57.119 --> 01:12:05.720
that resources on ground to food that
company moder one hundred percent functioning and hiring

897
01:12:05.800 --> 01:12:12.079
all those engineers to bring out all
those flashings that is needed by private companies

898
01:12:12.439 --> 01:12:17.840
or government companies to work with for
automobile. Like somebody recently said the last

899
01:12:17.880 --> 01:12:23.239
person that all there's no way you
can carry out this kind of you know,

900
01:12:24.399 --> 01:12:30.000
a project with our government. Tesla
almost have to borrow money from California.

901
01:12:31.159 --> 01:12:39.479
California gave Ellen most Tesla when they
started, lots of billions to start

902
01:12:39.520 --> 01:12:44.159
their job. We'll remember what happened
in twenty or eight and all nine with

903
01:12:44.399 --> 01:12:48.800
Ford Company and the rest of them
when they went down the federal government of

904
01:12:48.960 --> 01:12:57.439
United States of America London, London, Obama gave them billions of dollars for

905
01:12:57.640 --> 01:13:03.000
that company now to go down in
Michigan. So the part I'm just trying

906
01:13:03.039 --> 01:13:09.880
to say is that if we have
engineers in Nigeria that can help produce the

907
01:13:10.119 --> 01:13:15.840
still, why can't the Nigeria universities
or government give them scholarship to go to

908
01:13:16.920 --> 01:13:24.039
best universities to go and study these
things. It's not it's not rocket science,

909
01:13:24.239 --> 01:13:30.920
it's not thank you the brains to
study these things or scholarship come back

910
01:13:30.000 --> 01:13:36.239
to Nigeria, help build these companies
and get all these companies working. Thank

911
01:13:36.319 --> 01:13:41.760
you. You can't have investors coming
into Nigeria. We tart all these things

912
01:13:41.840 --> 01:13:46.199
being established. We all know all
that, and I don't adding the security.

913
01:13:47.359 --> 01:13:54.560
Security boils down to most of these
important things that need to be carried

914
01:13:54.640 --> 01:13:59.880
out in Nigeria. Let us stop
fooling ourselves. I'm sure that at least

915
01:14:00.119 --> 01:14:06.560
here which smart brains that are not
what's want to do Nigeria forward is sisty

916
01:14:06.600 --> 01:14:15.760
two years. I got two people
are ship right now? Good point Inness,

917
01:14:15.880 --> 01:14:18.840
good point, I got you.
I think it's it's the same point

918
01:14:18.920 --> 01:14:23.800
again. And like like you again. If I take you off the space,

919
01:14:23.880 --> 01:14:29.000
just remember it's just to add more
people know your comments are well respected.

920
01:14:29.800 --> 01:14:31.079
I think the point again, miss, we go back to this still

921
01:14:31.119 --> 01:14:35.239
issue when we talk about a jacuta, have written about a Jacutta. I

922
01:14:35.359 --> 01:14:41.119
have personally gone to all all of
Nigeria steal me. I think I've ben't

923
01:14:41.119 --> 01:14:45.279
gone to sugar. I've gone to
all of them the same issue at Jacotta.

924
01:14:45.640 --> 01:14:48.880
This is way we are today.
If a jacuta had worked different place,

925
01:14:49.039 --> 01:14:53.239
it hasn't worked and it will not
work. No, we've had this

926
01:14:53.439 --> 01:14:58.720
argument on Twitter. I posted it
when where it became president. I posted

927
01:14:58.800 --> 01:15:01.920
it, Go and look at it
twenty sixteen. Lots of people are attacked.

928
01:15:02.520 --> 01:15:08.680
Some people. It does not work
today because it's not. It's economics.

929
01:15:09.359 --> 01:15:14.479
You can't you can't cheat economics.
It needs to have many things working.

930
01:15:14.560 --> 01:15:18.479
The railway near Marco raw material,
we have to imported limestone. Even

931
01:15:18.560 --> 01:15:23.439
the code Djakota was a big,
big, big, quote unquote four one

932
01:15:23.560 --> 01:15:27.720
night. They did us right.
They build a factory and design it to

933
01:15:27.840 --> 01:15:31.159
first to import from them to make
it. Who are important bullets from Ukraine

934
01:15:31.680 --> 01:15:34.880
to make still in Najakota. That's
when it's that the only time it worked.

935
01:15:35.319 --> 01:15:39.840
But it's not going to steal it. So we have to stop and

936
01:15:40.039 --> 01:15:44.000
start and say what do we need
to get still to mister Jay and the

937
01:15:44.079 --> 01:15:48.159
other guys know much about the one
in Cata, but I'm about a lot

938
01:15:48.239 --> 01:15:55.920
of the future of nod is like
I was a built on where is relying

939
01:15:56.000 --> 01:15:59.720
on the success of that place.
You know, Cana is the technology.

940
01:16:00.920 --> 01:16:03.520
What's killing a Jacuta is that it
is like a like a big pot in

941
01:16:03.680 --> 01:16:08.119
furnace. So before you have that
furnace up. You need to have all

942
01:16:08.199 --> 01:16:11.880
your raw materials before you can start
it. But Cardinizing what the called d

943
01:16:12.159 --> 01:16:15.000
r I, like what Dell type
is, That's what Cartinizing d R I.

944
01:16:15.520 --> 01:16:19.680
But Kardna uses local st ours.
That's a kid. It can is

945
01:16:19.720 --> 01:16:26.640
designed to use local imputes. Jacota
is designed to use important impute. So

946
01:16:27.239 --> 01:16:30.960
that's the big Yeah, I'm one
of the reasons I'm look, I'm hoping

947
01:16:30.039 --> 01:16:33.720
that Cardinal would work because it means
that if we can do well, the

948
01:16:33.880 --> 01:16:39.800
cost of this field will be comparable
to excellent national cost of the feel now

949
01:16:39.880 --> 01:16:44.560
you're getting yeah, excellent, Yeah
exactly, let me get em a woman,

950
01:16:45.239 --> 01:16:49.439
best go ahead? So yeah,
even can you hear me please loudly?

951
01:16:49.520 --> 01:16:51.600
And Claire, what are you calling
from, sir? Okay, yeah,

952
01:16:51.920 --> 01:16:55.760
yeah, thanks very much, And
I mean I'm calling from Lagals.

953
01:16:55.880 --> 01:16:58.840
Yes, go ahead. Yeah,
my questions, I mean I have two

954
01:16:58.960 --> 01:17:02.159
questions, weren't for you? Okay, two for you mister ja yeah,

955
01:17:02.159 --> 01:17:05.800
and one for you mister Carlo.
Now, mister Jaya, I mean,

956
01:17:05.960 --> 01:17:10.760
fantastic work you're doing, you know, persevering, you know, in in

957
01:17:10.880 --> 01:17:18.920
spite of every Now you've explained how
your target market for cars mostly the middle

958
01:17:18.960 --> 01:17:23.520
class of ports and all that,
and how you know all the dynamics.

959
01:17:24.399 --> 01:17:31.840
I've always asked this question about the
manufacturers, automoba manufacturers. What about manufacture

960
01:17:31.920 --> 01:17:41.439
of tractors because and I'm saying this
because we see the money government throws at

961
01:17:41.560 --> 01:17:48.399
agriculture year in, year out.
The demand and supply of tractors is abismo.

962
01:17:49.239 --> 01:17:53.840
Now, is there is there any
is there? Is there something there

963
01:17:54.279 --> 01:17:58.239
like? Is there something that you
know when it comes to tractors? Now?

964
01:17:58.359 --> 01:18:03.880
My second question is as regards what
you call it, have forgotten that?

965
01:18:04.479 --> 01:18:10.239
Yeah? Bosses, yes, even
bosses. I'm talking. I'm talking

966
01:18:10.239 --> 01:18:14.720
about this. I'm talking about this
large bosses because Nigeria doesn't have like mass

967
01:18:14.880 --> 01:18:18.239
tragedy infrastructure like that. So what
about that? Now? My question for

968
01:18:18.319 --> 01:18:23.039
you and mister Carlo is you've been
talking about this card now you know,

969
01:18:23.239 --> 01:18:29.560
going into still and all that.
Is this also connected to the prospective AKK

970
01:18:30.279 --> 01:18:36.840
gas pipeline And in an earlier webing
now you know this weekend you said local

971
01:18:38.039 --> 01:18:44.960
manufacturing is expensive and I think mister
Jai has also validated that. So will

972
01:18:45.159 --> 01:18:51.359
this gas pipeline and others also make
whatever still that they are going to you

973
01:18:51.439 --> 01:18:58.479
know, supply to people like mister
Jai, cheaper than what is important from

974
01:18:58.640 --> 01:19:03.279
China at the moment. Thank you, fantastic questions. Want to you want

975
01:19:03.279 --> 01:19:10.039
to go first? Yeah, okay, let me go. So you asked

976
01:19:10.079 --> 01:19:19.760
about why what about manufacturing tractors.
We manufactured bosses, pickups, su these

977
01:19:21.079 --> 01:19:28.520
trucks, tractors also. However,
like we all, you know, he's

978
01:19:28.880 --> 01:19:36.640
He's economics is just commerce. You
would focus on areas where you have the

979
01:19:38.119 --> 01:19:44.680
best opportunity of selling. Even though
you have you may or you've build the

980
01:19:44.760 --> 01:19:49.479
capacity to produce other items. So
in ad we can produce tractors. We

981
01:19:49.560 --> 01:19:53.439
can produce I I was trained by
missus Ben. We make trucks. We

982
01:19:53.520 --> 01:19:59.239
can make trucks also, which is
simp take close to making tractors. However,

983
01:20:00.000 --> 01:20:06.000
it's not made a lot of tractors
because accumulation. I don't think governments

984
01:20:06.039 --> 01:20:12.840
are can buying a lot of brand
new tractors if they have we have not

985
01:20:12.920 --> 01:20:16.439
gotten others. We's not gonna go
throing RSPs. So and that way it

986
01:20:16.520 --> 01:20:21.199
comes from. You know, if
you can go through the peru of public

987
01:20:21.239 --> 01:20:26.720
procurements, you will see our name. You'll see all the local manufacturers.

988
01:20:27.359 --> 01:20:30.119
You can go there and see,
okay, we want to buy x amount

989
01:20:30.199 --> 01:20:35.680
of tractors. Bureau Public Complements.
Can you say the message to local manufacturers

990
01:20:36.239 --> 01:20:41.920
of vehicles or motor vehicles and tractors
and DREA they know us, Can you

991
01:20:42.000 --> 01:20:46.399
please send them a request for proposal
and we're going to do a pad.

992
01:20:46.880 --> 01:20:51.720
We're going to pick the best price
for the best quality. They don't do

993
01:20:51.880 --> 01:20:57.119
that. So it's gonna see when
you start to do things like this,

994
01:20:57.239 --> 01:21:00.439
that's how it's done in most places. That's how it's done. You are

995
01:21:00.520 --> 01:21:05.159
there, you put your capacity.
The government comes or the the entity comes

996
01:21:06.000 --> 01:21:11.600
and they ask you to make a
proposal. They do a budional competition and

997
01:21:11.680 --> 01:21:15.000
they choose the winner. If you
don't win, you lend your lessons.

998
01:21:15.319 --> 01:21:18.479
You go back. You go back
either reduce your course or increase your quality,

999
01:21:18.680 --> 01:21:24.439
or two boots so we can make
the tractors. It goes up,

1000
01:21:24.520 --> 01:21:31.560
always saying we just need some intention
now, decisions from our government. There's

1001
01:21:31.640 --> 01:21:36.960
me. I'm going to digress a
little. The US need today that you

1002
01:21:38.000 --> 01:21:42.359
are all show up, and I'm
a big noise. I made it tweets

1003
01:21:42.359 --> 01:21:46.079
from days ago. I said,
when will the Nigeria's tochnic. If it's

1004
01:21:46.119 --> 01:21:49.439
one, I don't know if everybody's
with this thing. Those the time the

1005
01:21:49.600 --> 01:21:58.239
uses are launch and objects into space. In nineteen fifty seven, that thing,

1006
01:21:59.039 --> 01:22:03.000
it was like electric shocks the US. Because of that thing, the

1007
01:22:03.159 --> 01:22:12.840
president at that time signed the National
Aeronautic Space Something. Well, they act

1008
01:22:13.039 --> 01:22:18.199
the actly from NASA and that's the
foundation of what because in the coom Valiy

1009
01:22:19.119 --> 01:22:25.840
a company called fair Child, which
is the parent which is the founding company

1010
01:22:26.119 --> 01:22:31.199
of the popular intail we know today
will not have been possible. So basically

1011
01:22:31.239 --> 01:22:35.680
your computer will still be the size
of the freak res gerator today. Man

1012
01:22:35.720 --> 01:22:41.239
will not have been on the moon. If the US governments feared the adminitry,

1013
01:22:42.199 --> 01:22:46.560
we're not patronizing companies that we're not
going to three years old. They

1014
01:22:46.640 --> 01:22:53.359
were deliberately calling for b saying I
want to see companies that can make transistor.

1015
01:22:53.640 --> 01:22:55.800
I want to see companies that can
make this because we want to go

1016
01:22:55.840 --> 01:23:00.720
to space. Those companies did those
things I don't want to go and later

1017
01:23:01.359 --> 01:23:05.560
when the government room now stopped doing
business with them, they moved into the

1018
01:23:05.640 --> 01:23:14.840
mass market, producing computers, producing
transistors, producing microprocessors for us. But

1019
01:23:15.000 --> 01:23:23.000
it's started with the government patronizing them. I mean, it's a good point.

1020
01:23:24.279 --> 01:23:27.319
It's a good point you're making.
Sound like this is the point I'm

1021
01:23:27.319 --> 01:23:31.199
making. The government's job is to
create skill to go somewhere and say,

1022
01:23:31.279 --> 01:23:36.319
this guy's a young car company.
He cannot compete with for the gym today,

1023
01:23:36.920 --> 01:23:41.800
so we will let him stand on
our shoulders. We will give him

1024
01:23:42.600 --> 01:23:45.000
order for fifty thousand units, so
he has others in his hand. He

1025
01:23:45.079 --> 01:23:49.479
can then expand he can hire people, he can grow without he doesn't need

1026
01:23:50.079 --> 01:23:54.760
cipient. Money is one part of
it. But you give him that badge

1027
01:23:55.119 --> 01:23:59.319
locally made, preferred manufacturer, give
him all that guarantees the pixies. We

1028
01:23:59.439 --> 01:24:03.279
can, we can more people,
train more people, correction to grow capacity

1029
01:24:03.600 --> 01:24:08.680
and that same capacity, like I
said, he's found on the government stud

1030
01:24:08.680 --> 01:24:13.640
that then you cannot move to Kenya. Zimbabwe is South Africa even you know.

1031
01:24:14.760 --> 01:24:18.640
So that's that's how it's done.
So if they get they make others

1032
01:24:18.680 --> 01:24:21.960
for tractors, we will we will
supply the same thing we posted. Anyway.

1033
01:24:23.399 --> 01:24:25.520
I hope the government. That's why
I said I hope the government.

1034
01:24:26.680 --> 01:24:29.880
If you, if you watch the
news, they are going to one of

1035
01:24:29.960 --> 01:24:39.600
the policies. One of the ways
to you know, just is the sufferings

1036
01:24:39.600 --> 01:24:46.079
of Nigerians because of the increase in
the price of petrol is buying c powered

1037
01:24:46.399 --> 01:24:55.000
bosses and our companies, one of
the companies. I'm hoping, I'm hoping

1038
01:24:55.119 --> 01:24:59.319
we submitted our proposal. They haven't
given you yet. Sorry, they haven't

1039
01:24:59.319 --> 01:25:00.920
given it to you yet. I
mean it's you the other guys, Yes,

1040
01:25:01.079 --> 01:25:06.600
they're yes, Okay, Well,
we've submitted our proposed We've committed our

1041
01:25:06.920 --> 01:25:12.680
uprising. We also noted to them
that these will create thousands of jobs.

1042
01:25:13.159 --> 01:25:16.600
We are going to assemble all those
vehicles in the Angeria, complete knockdown,

1043
01:25:16.680 --> 01:25:20.039
We're going to do the weld in
here. Everything is going to be explained

1044
01:25:20.079 --> 01:25:26.119
to them that thousands of the Angerians
are going to be employed in making these

1045
01:25:26.199 --> 01:25:31.039
bosses. So we hope that they
give us the the contract. We hope

1046
01:25:31.079 --> 01:25:36.520
that this was opportunity to employ more
people and grow the skill that we really

1047
01:25:36.600 --> 01:25:40.479
really need to grow. So so
for possible, yes, we do it

1048
01:25:40.520 --> 01:25:45.479
too, and we are there,
but we can't be as big as you

1049
01:25:45.680 --> 01:25:51.000
mentioned in if we don't also get
the demand from from the government and other

1050
01:25:51.079 --> 01:25:55.119
people. And then the other entities. Yeah, a good point. I

1051
01:25:55.239 --> 01:25:59.479
just answer a second question real created
sadly, sadly, you you confirmed the

1052
01:25:59.560 --> 01:26:03.079
point that we made last week that
local manufacturing is more expensive than important,

1053
01:26:03.079 --> 01:26:10.079
which is why the dollar has become
very expensive because if I import, is

1054
01:26:10.199 --> 01:26:15.439
cheaper for me. So holding the
dollar at the thousand naira is cheaper than

1055
01:26:15.560 --> 01:26:18.840
holding the thousand naira itself. It's
crazy, and that's where dollars going up

1056
01:26:19.159 --> 01:26:25.880
because I just import and I save
money than buying local. So think about

1057
01:26:25.920 --> 01:26:29.239
it. If you think about,
your mind will explode. That rice important

1058
01:26:29.279 --> 01:26:31.920
to Nigeria is cheaper than rice growing
in Nigeria. It's crazy, but it's

1059
01:26:31.920 --> 01:26:35.720
true. So yeah, there was
acond point about this, this gas pipeline.

1060
01:26:36.079 --> 01:26:40.880
There are a few projects that Buhari
should have done from day one that

1061
01:26:40.960 --> 01:26:43.319
he did not do. That my
mind was blowing, you know, like

1062
01:26:43.920 --> 01:26:48.239
if you want to create an industrial
powerhouse in the North. First of all,

1063
01:26:48.279 --> 01:26:50.439
I did it to it a long
time ago. And I said,

1064
01:26:51.239 --> 01:26:56.760
if you look at the before Nigeria
was Nigeria sit today, we had Northern

1065
01:26:56.880 --> 01:27:01.479
Nigeria, Western Nigeria, Eastern Nigeria, dost Nigeria. Go and look for

1066
01:27:01.600 --> 01:27:08.399
the planned Industrial Plan of Northern Nigeria. It is the best documents you will

1067
01:27:08.439 --> 01:27:15.479
see rating for any country to go
from agree in proper tired world to first

1068
01:27:15.560 --> 01:27:19.399
world. The British rooted for them
step by step. This is what you

1069
01:27:19.560 --> 01:27:25.119
do. This what you do,
and they actually did it. If you

1070
01:27:25.199 --> 01:27:29.159
go to Bauchi, what you call
Bauchi today, it is Bauchi Plateau.

1071
01:27:29.600 --> 01:27:32.239
If an other states is not this, Blachi is more the big Bauchi.

1072
01:27:32.920 --> 01:27:38.359
Go and look at the Google the
amount of industries in Bauchi alone, what

1073
01:27:38.520 --> 01:27:43.600
they do. Google it the ones
that make realms, the iron wires,

1074
01:27:43.760 --> 01:27:47.079
cables on and make roofing, the
ones that do cats. To google what's

1075
01:27:47.119 --> 01:27:50.760
in Bauchi State, you would see
where they were going to an agree and

1076
01:27:51.119 --> 01:27:56.840
in society you're going to do agro
allied and manufacturing. That's what's going to

1077
01:27:56.880 --> 01:28:00.760
do to the first world. They
were practicing it when they in nineteen sixty

1078
01:28:00.800 --> 01:28:03.920
three. It stopped after the Civil
War the army came in. They now

1079
01:28:04.000 --> 01:28:10.039
they're looking at oil. The point
I'm making is this they manufacturing in Canal

1080
01:28:10.119 --> 01:28:14.640
and could not die because of power
and this gas Akka pipeline. If you

1081
01:28:14.720 --> 01:28:19.760
take power to the north. You
drop the costs of making textiles or in

1082
01:28:19.960 --> 01:28:25.319
north, then it's a game changer. You have the market. So they

1083
01:28:25.359 --> 01:28:30.960
are scale with goals up. They
are cost per unit falls. Even the

1084
01:28:30.159 --> 01:28:34.760
Chinese cannot compete to them again even
so that means you start to export textiles

1085
01:28:35.039 --> 01:28:41.920
from northern Nigeria all across West Africa
and all across Africa. Then you tied

1086
01:28:41.960 --> 01:28:45.840
it into Bona Boy and all this
guy win and Gan textiles. You want,

1087
01:28:45.079 --> 01:28:48.800
you want the race Ethiopia Cannibal compete
with two. But we are short

1088
01:28:48.840 --> 01:28:54.439
sightedly left that project the dying members
of the regime. It's not funded.

1089
01:28:54.840 --> 01:28:58.399
We're now using our lookout for them
to do the Pipeline's most expensive pipeline the

1090
01:28:58.479 --> 01:29:01.119
world for gas. They will tell
you it's bigger, is whatever, but

1091
01:29:01.279 --> 01:29:06.000
it's pretty expensive. I got the
Chinese pulled out. If that partner works

1092
01:29:06.039 --> 01:29:12.640
today, the cost of power falls. That's thirty percent removed from the table.

1093
01:29:13.439 --> 01:29:16.079
Tell me strate to take away from
his table and then give you a

1094
01:29:16.159 --> 01:29:20.159
price. And so big project.
We delayed on it. It's a critical

1095
01:29:20.359 --> 01:29:25.640
strategic project. We should get it
done. Let me just go straight to

1096
01:29:26.680 --> 01:29:30.680
icont econts Enterprises. Oh my god, and nam right, you've got the

1097
01:29:30.680 --> 01:29:36.640
floss up. Please go ahead,
Ecolets all right, sorry, okay,

1098
01:29:36.680 --> 01:29:42.439
thank you, hope you can hear
me, all right, Thank you so

1099
01:29:42.640 --> 01:29:47.159
much, Thank you mis stargery.
Also, I like so glad to be

1100
01:29:47.239 --> 01:29:53.640
on this face because this is actually
my field also manufacturing, And thank you

1101
01:29:53.760 --> 01:30:00.479
for bringing the points you already made
and these are really drunk true topics.

1102
01:30:00.800 --> 01:30:04.079
So but I still understand that,
just like you said, potted all these

1103
01:30:04.119 --> 01:30:12.319
points. And if you persons are
asking questions, why is it this way

1104
01:30:12.520 --> 01:30:16.680
often now, especially like it's a
surprised We don't know that these flash ships

1105
01:30:16.880 --> 01:30:23.359
are not really made like here in
Nigeria, and they can be so surprising,

1106
01:30:23.439 --> 01:30:29.239
and then manufacturing is not being given
that attention it deserves like in Nigeria.

1107
01:30:29.319 --> 01:30:33.039
For example. I take a look
at them that we mentioned Detroit,

1108
01:30:33.159 --> 01:30:40.039
Michigan, where most hardcore manufacturers are, Bill, don't I tell you apart

1109
01:30:40.119 --> 01:30:44.720
from just trying to make a car, and like a car, every part

1110
01:30:45.199 --> 01:30:49.760
is unique and just like you said, when these shifts are when you're bringing

1111
01:30:49.760 --> 01:30:54.520
the shifts, let's say in flats, you need various types of machine,

1112
01:30:54.600 --> 01:30:59.720
diet machines and c machines to transform
these shifts to promoun ship to the other

1113
01:31:00.000 --> 01:31:04.920
and make a sense hiper like presently, I deal a lot with sense machines

1114
01:31:05.039 --> 01:31:10.640
and things like that, so I
really understand them the challenges in terms of

1115
01:31:10.760 --> 01:31:15.479
you imposting into them when it's already
folded. And this is where brings to

1116
01:31:15.600 --> 01:31:20.680
a big gap for someone that was
trying to make points the engineers and injury.

1117
01:31:20.760 --> 01:31:28.439
Actually, the educational system also has
this challenge that the curriculum or curriculum

1118
01:31:28.439 --> 01:31:33.840
are currently does not even fit to
industrial standards, such that there is a

1119
01:31:33.920 --> 01:31:40.000
big gap knowledge gap even in the
kind of graduates we are producing. There's

1120
01:31:40.279 --> 01:31:46.199
this large noise gap where most graduates
are not even or don't understand the processes

1121
01:31:46.439 --> 01:31:49.920
even things to get a full car
ready, you know, like they total

1122
01:31:49.960 --> 01:31:55.439
assembly plants and things like So there's
this thing called the triple helix s energy

1123
01:31:55.560 --> 01:32:00.239
or something like that being done by
ted from trying to make sure to breach

1124
01:32:00.359 --> 01:32:06.039
that gap between research industry and private
organization because I think there's just this now

1125
01:32:06.479 --> 01:32:13.159
they're not partnering properly very well to
the industry is supposed to reach out to

1126
01:32:13.239 --> 01:32:16.600
the researcher, show them their problems, and then the researchers are supposed to

1127
01:32:16.640 --> 01:32:19.680
get to work and see how to
solve this problem and then bring out the

1128
01:32:19.760 --> 01:32:25.880
solution for the industry to work with, and then government is supposed to bring

1129
01:32:25.960 --> 01:32:30.239
in their path by funding that solutions. But it's quite a big, huge

1130
01:32:30.319 --> 01:32:34.640
gap, and I don't know how
when we are actually going to solve this

1131
01:32:34.880 --> 01:32:42.600
problem because it's way where we're eating
deep into the nation, and especially when

1132
01:32:42.840 --> 01:32:47.479
we have a lot of youths who
can actually explore setting scrept jobs. I

1133
01:32:47.560 --> 01:32:51.239
do not see what we need like
right now in Aginia. I don't know

1134
01:32:51.319 --> 01:32:57.720
where what we really lacking because the
human capacities, the people willing to lend,

1135
01:32:57.800 --> 01:33:02.279
the current trends of technology and manufacturing, you know, especially power is

1136
01:33:02.399 --> 01:33:06.680
just like what you just said,
very very important if power is not gotten

1137
01:33:06.720 --> 01:33:13.520
al because for every plant, every
machine you're bringing into every assembly line must

1138
01:33:13.520 --> 01:33:17.880
almed setting power. So if that
is not really solved very well, I

1139
01:33:18.000 --> 01:33:23.840
don't know. I think even the
Jokuta that's happening, the problems I see

1140
01:33:23.880 --> 01:33:27.880
here and there with most of this
factors will continue when our power is not

1141
01:33:28.079 --> 01:33:30.600
very effective. So I just want
to say kudos to you and what you're

1142
01:33:30.640 --> 01:33:36.079
doing. I think you really need
to get closer to the government and try

1143
01:33:36.159 --> 01:33:42.239
to know or be in place.
So there's such policies that favors just one

1144
01:33:42.359 --> 01:33:46.039
particular person for his particular purpose.
Do not go for the port rada.

1145
01:33:47.000 --> 01:33:50.880
Just like I said, nanginers should
make decisions for nanginer and things that favor

1146
01:33:51.039 --> 01:33:56.039
nager. Look at naginera strengths,
work under strengths and not making things or

1147
01:33:56.159 --> 01:34:00.600
taking decisions that don't actually favor the
a large number of people and just for

1148
01:34:00.680 --> 01:34:08.119
a few people. So that here
is a good point about hal for you

1149
01:34:08.359 --> 01:34:12.520
had. Yeah, yes, it's
saying a lot of very good points.

1150
01:34:12.640 --> 01:34:18.640
But I'm going to pick on the
electricity. So most people know electricities is

1151
01:34:18.800 --> 01:34:26.800
very expensive, not very not very
expensive, but it's a Nigeria at the

1152
01:34:26.880 --> 01:34:31.840
moment a big part of our cost
so which we can say it's nomenos been

1153
01:34:31.880 --> 01:34:35.800
expensive, but you know, when
people compare to what our counterparts are playing,

1154
01:34:35.880 --> 01:34:42.000
you can argue that the most simpting, but it's it's a big part.

1155
01:34:42.239 --> 01:34:46.520
And also eve from the costing part, it's also very frustrating because it's

1156
01:34:46.600 --> 01:34:51.199
not very it's not available, and
it's not the quality you want. However,

1157
01:34:53.159 --> 01:35:00.640
however said a lot of times we
it's for me. Look if it

1158
01:35:00.720 --> 01:35:04.680
talks a lot of manufacturers in Nigeria, they were admitting to you that,

1159
01:35:04.840 --> 01:35:12.039
yes, legs is a big problem. However, it's probably no prop to

1160
01:35:16.880 --> 01:35:23.279
I would talk about automobile. There's
all the respective. Now we have other

1161
01:35:23.439 --> 01:35:30.520
things that we can come we can
compensate for our expensive electricity. We have

1162
01:35:32.319 --> 01:35:41.600
very brilliant people in Nigeria, in
lots of Nigeria and shoot smart. I

1163
01:35:41.680 --> 01:35:45.479
walk with a lot of them every
day. Smart people, supers, smart

1164
01:35:45.560 --> 01:35:50.119
people. If you know how to
find them, they are there. And

1165
01:35:50.800 --> 01:35:58.239
the label is not as expensive as
every anywhere else. So it plays where

1166
01:35:58.239 --> 01:36:01.640
you can see these kind of smart
people for that amount. That's number one.

1167
01:36:01.800 --> 01:36:08.239
Number two, the cost of land
is not This is one of the

1168
01:36:08.279 --> 01:36:15.119
tactles of production of land. Label
is not very expressive. I call these

1169
01:36:15.199 --> 01:36:20.560
two things row damn because as freeland
as the Nigerian USA, they need a

1170
01:36:20.600 --> 01:36:25.039
bit of training. But if you
if you if you do you're hiring rights,

1171
01:36:25.920 --> 01:36:28.399
you get people that are very interested
in your company, that are very

1172
01:36:28.439 --> 01:36:31.760
interested. If you successful, you
do a bit of training, bit of

1173
01:36:31.880 --> 01:36:36.600
press up and you have super world
class people, which you that's number one.

1174
01:36:36.760 --> 01:36:41.399
Then you also have land. Of
course, we have a lot of

1175
01:36:41.439 --> 01:36:44.720
other infrastrate problems. No root root
dis do that. So you need to

1176
01:36:44.880 --> 01:36:46.159
like I said, it's a damnon
way in the row. You need to

1177
01:36:46.319 --> 01:36:50.039
get that land, get it in
a place. When you do those two

1178
01:36:50.119 --> 01:36:58.239
things, and you have to argue
the lips is a problem, I didn't

1179
01:36:58.279 --> 01:37:05.159
know the d You will find that
that your cost of manufacturing is you need

1180
01:37:05.239 --> 01:37:12.520
to be less up than it is, for example, in China as low

1181
01:37:12.600 --> 01:37:19.840
as China is at the moment.
The problem that we have in Nigeria m

1182
01:37:20.560 --> 01:37:28.199
if all these things remain constant,
is the uneasy way of doing business is

1183
01:37:28.239 --> 01:37:33.680
of doing business. You always have
problems here and there. Either you're trying

1184
01:37:33.680 --> 01:37:36.880
to clear the vehicle, you're trying
to do this, you're trying to import,

1185
01:37:38.000 --> 01:37:42.680
you're trying to export. You're always
going to have problems. That's one

1186
01:37:42.720 --> 01:37:50.359
of the issues we have. Number
two is the inconsistent government policy. Just

1187
01:37:50.680 --> 01:37:54.560
let us know what we are doing. Are we going less or are we

1188
01:37:54.640 --> 01:38:00.479
going right? Will you those the
government wants us to create jobs in Nigeria,

1189
01:38:00.800 --> 01:38:04.399
invest in Nigeria in your to morble
industry or we don't want that,

1190
01:38:05.159 --> 01:38:08.960
do want those to focus on magriculture. We need to know where we are

1191
01:38:09.000 --> 01:38:15.760
going as a country and the policies
have to stay pulled because going in my

1192
01:38:15.840 --> 01:38:21.800
industry, for example, investments,
when you buy equipment, the equipments sometimes

1193
01:38:21.880 --> 01:38:30.640
have break even points of minimum seven
years, sometimes ten years. So you

1194
01:38:30.760 --> 01:38:33.159
need the people want to invest.
They want to be sure that I can't

1195
01:38:34.279 --> 01:38:38.680
say this thing for this number of
years break even, then start to make

1196
01:38:38.760 --> 01:38:45.119
my financial gain. Then, like
we've talked about, we were talking about,

1197
01:38:45.920 --> 01:38:55.680
we also need decisions from our government
to show that we are going to

1198
01:38:55.760 --> 01:38:59.960
support you. It's say opens we're
going to buy from you days and exactly

1199
01:39:00.039 --> 01:39:04.840
other five we says that you have
to buy your components, your vehicles from

1200
01:39:04.880 --> 01:39:12.640
Nigeria. It is not being followed
it. It does need to enforce it.

1201
01:39:13.279 --> 01:39:16.479
It's not being followed people. You
can you can only imagine. I

1202
01:39:16.560 --> 01:39:20.880
think we have five five hundred thousand, could be it could be lower.

1203
01:39:20.880 --> 01:39:27.079
Advent on the year could be higher. Five hundred thousand vehicles and motorcycles are

1204
01:39:27.319 --> 01:39:31.880
important into Nigeria every year. Only
about five percent of that is brand new.

1205
01:39:32.079 --> 01:39:39.439
Imagine a market where about fifty percent
of that brand. I mean,

1206
01:39:39.560 --> 01:39:43.000
I mean, if I think there
was an advocated side, I will say

1207
01:39:43.119 --> 01:39:46.960
the government can say we will buy
the quote unquote expensive locally made cars,

1208
01:39:47.119 --> 01:39:50.479
and I leave the private sector could
buy the private cars if the government alone

1209
01:39:50.600 --> 01:39:57.319
says everyone must drive and locally assembled
or locally whatever cars. So a lot

1210
01:39:57.399 --> 01:40:00.640
of problems. Yeah, I mean, that's well from the problem. Let

1211
01:40:00.680 --> 01:40:03.159
me and let me ask goodful.
I would say something. I have a

1212
01:40:03.279 --> 01:40:06.880
friend, Okay, I'll mentioned the
numbers. I have a friend who has

1213
01:40:08.279 --> 01:40:14.119
an auto dealer. He got deler. He does, he does twice my

1214
01:40:14.239 --> 01:40:21.000
revenue every year he has. But
he has more stuff in his house.

1215
01:40:21.680 --> 01:40:27.399
What I mean that his cook you
know, this driver, that that he

1216
01:40:27.520 --> 01:40:33.199
has more stuff in his private home
time in his business. So he's he's

1217
01:40:33.279 --> 01:40:36.680
important. You are manufacturing. He's
doing better than anything. He has like

1218
01:40:36.800 --> 01:40:42.039
five stuffs maybe two sales people on
account and as, but he doesn't have

1219
01:40:43.199 --> 01:40:54.479
Why me, I do I have
more than sixty two about seventy direct stuff

1220
01:40:54.560 --> 01:41:01.520
direct? Then I have not that
one dread in direct and I do those

1221
01:41:01.800 --> 01:41:08.359
hundreds and something you need to hear
so you can imagine if I do five

1222
01:41:08.399 --> 01:41:15.560
thousand union to here you can imagine
how more jobs to be created. So

1223
01:41:16.640 --> 01:41:20.159
these and I would do these things. I'm gonna saying we do so of

1224
01:41:20.199 --> 01:41:30.720
electricity. I would do these things
even after our current states. If the

1225
01:41:30.840 --> 01:41:38.960
government those said the nis are enterprising, those evos right policy, as I

1226
01:41:39.000 --> 01:41:42.159
said I have. We we built
I don't know if you're aware, we

1227
01:41:42.359 --> 01:41:48.680
build one of the biggest universial centers
inside the University of Legals campus. Really

1228
01:41:48.760 --> 01:41:54.039
really, let's talk about that if
you if we could, Yes, we

1229
01:41:54.880 --> 01:42:01.680
we a lot of unionized students,
professor of professors and engineering coming there.

1230
01:42:02.960 --> 01:42:08.119
Engineers have brilliant people like I don't
know if I don't wan talk about because

1231
01:42:08.560 --> 01:42:11.960
because it's about the unilie because of
that place. Now we're building drones.

1232
01:42:13.880 --> 01:42:17.720
Drones we just said a drone company. We're building drones. We we also

1233
01:42:17.880 --> 01:42:28.119
built a ground controlstation and autopilots ourselves. We wrote every line of the code

1234
01:42:28.239 --> 01:42:33.560
ourselves. I took that code to
China. I tested it in the aerosprint

1235
01:42:33.760 --> 01:42:38.800
edition and they told me is one
of the most powerful sort says is ever

1236
01:42:38.960 --> 01:42:45.159
thing? Very impressive. Okay,
very let me get some folks, some

1237
01:42:45.239 --> 01:42:49.920
guys, so let me let's get
some folks in here that would like to

1238
01:42:50.439 --> 01:42:55.239
jump in and have David David go
ahead service. Let's get David e.

1239
01:42:56.359 --> 01:43:00.560
You've got the floor? Okay,
Yes? Is that it? Hello?

1240
01:43:00.079 --> 01:43:06.680
Yes? Go ahead? Please?
Okay, sorry masters. I wanted to

1241
01:43:08.239 --> 01:43:15.640
ask two questions and the one contribution. You hear me? Yes? Go

1242
01:43:15.760 --> 01:43:21.439
ahead? Noisy go ahead? Can
you hear me? We can? I

1243
01:43:21.479 --> 01:43:28.359
wanted okay, I wanted to ask
two questions and one contribution. The question

1244
01:43:28.560 --> 01:43:33.000
is you know I have had valuable
there in you know about this policy,

1245
01:43:33.640 --> 01:43:38.359
that the policy the government. The
policy is one of the biggest problems.

1246
01:43:38.359 --> 01:43:41.479
I was having a new report,
you know when you spoke about when you

1247
01:43:41.520 --> 01:43:48.279
spoke about the glass and those about
the shoot ruling in Agera. I was

1248
01:43:48.399 --> 01:43:53.920
thinking one thing, is it not
possible for the automanfacturers in Nagera to come

1249
01:43:53.960 --> 01:43:58.359
to LA and you know maybe it's
the Auto Manufacture Association come to later that

1250
01:43:58.520 --> 01:44:01.840
she said, so in joint venture, all of them in joint venture with

1251
01:44:02.600 --> 01:44:09.840
the manufacturer, or do with this
last manfacturers all with this in really continues

1252
01:44:09.920 --> 01:44:14.760
to actually solve this problem because I
have actually seen it a bam done it

1253
01:44:14.880 --> 01:44:19.199
from other countries where okay, you
cann manufacture everything. So you set a

1254
01:44:19.319 --> 01:44:24.199
joint venture with this thing, we
are going to buy everything from you.

1255
01:44:24.560 --> 01:44:28.399
But because of you know the fact
that your own side, because your own

1256
01:44:28.479 --> 01:44:32.680
capacity is not that much, you
can actually look at the possibility of maybe

1257
01:44:32.880 --> 01:44:38.520
join this together with every other Automa
manufacturers and and youre because when this problem

1258
01:44:38.680 --> 01:44:43.760
that you're facing, it is so
every Apple manufacture and you are with benefited.

1259
01:44:44.119 --> 01:44:48.439
So what I'm asking is is it
not possible for the Appo manfacturers to

1260
01:44:48.600 --> 01:44:53.920
come together and tackle one of the
major problems that one of the person that's

1261
01:44:54.079 --> 01:44:57.359
that you are facing in Yeah,
but why should they do that? Why

1262
01:44:57.479 --> 01:45:00.279
why should they do that? I
think the point is about scaling and what

1263
01:45:00.760 --> 01:45:03.960
a company has a balance sheet?
Right, So imagine if I make textiles

1264
01:45:04.640 --> 01:45:09.439
and you're asking me to set up
the power generating factory that what you're asking

1265
01:45:09.760 --> 01:45:14.359
why should I do that? That's
not my job. Why I'm saying this

1266
01:45:14.520 --> 01:45:17.600
is because of the governments of the
government that we have an endura for a

1267
01:45:17.720 --> 01:45:23.399
well, and all the truths that
we know is that even if they say

1268
01:45:23.479 --> 01:45:27.479
that they're going to help in such
area, the posy of them helping let

1269
01:45:27.520 --> 01:45:29.720
me even let me even help you, Let me help you us here,

1270
01:45:29.800 --> 01:45:32.880
let me even ask like we won't
do what you're saying. We won't done

1271
01:45:32.880 --> 01:45:36.600
it. We are just mentioning you
earlier that we have an association, right

1272
01:45:39.000 --> 01:45:45.880
we come forward. Yet we have
meetings and and we are a lot more

1273
01:45:45.039 --> 01:45:49.840
friendlier than multiple think. We're all
friends. We know it told a welcome

1274
01:45:49.880 --> 01:45:56.319
for the meeting in the top.
We all know that if we get a

1275
01:45:56.399 --> 01:46:00.359
bigger pie, which means that influentians
start to buy more brand new vehicles,

1276
01:46:01.279 --> 01:46:09.880
it's better for us. The I
can count. I can't the entire markets

1277
01:46:11.520 --> 01:46:15.680
my company alone can take its like
the entire brand new markets in Ningeria.

1278
01:46:15.720 --> 01:46:21.560
It's so small that my company alone
can supplies and I know one of two

1279
01:46:21.600 --> 01:46:28.159
other companies that I can't do the
same during time. My point, so

1280
01:46:28.720 --> 01:46:35.199
the solution is we need to find
a way to move more people who are

1281
01:46:35.279 --> 01:46:42.319
buying used vehicles into the brand new
vehicle segments and people who are buying important

1282
01:46:42.399 --> 01:46:49.720
fully used vehicles, like the governments, the different arms of governments to start

1283
01:46:49.760 --> 01:46:57.239
survive need in their own country vehicle. Especially when you check the quality also

1284
01:46:57.640 --> 01:47:02.640
then do an opened and select the
best quality for the best price. So

1285
01:47:02.960 --> 01:47:08.479
we have actually come together, We've
done meet teams, we've come together like

1286
01:47:08.640 --> 01:47:15.079
one, like one company. These
together, our our competitivit differences. But

1287
01:47:15.960 --> 01:47:24.439
sometimes know, sometimes most times we
don't get a resolved And that's because I

1288
01:47:24.479 --> 01:47:29.319
don't know if that's because Soeple doesn't
do Joyble don't don't want to do what

1289
01:47:29.399 --> 01:47:32.199
they want to do in Nigeria,
that's the truth. They don't don't want

1290
01:47:32.239 --> 01:47:36.840
to follow some of the rules and
regulations. Like I said earlier, we

1291
01:47:38.000 --> 01:47:44.119
have an executive order that says you
have to buy maybe Nangeria. If you

1292
01:47:44.239 --> 01:47:46.000
cannot, you have to try.
You have to go out there and try

1293
01:47:46.000 --> 01:47:49.840
and buy the Maibe Nangeria base is
when you cannot buy, you cannot say

1294
01:47:49.840 --> 01:47:54.439
you want to go outside. Ask
yourself, how many parts start us?

1295
01:47:54.840 --> 01:48:00.319
How many government agents do this?
And for those that are not doing it,

1296
01:48:00.439 --> 01:48:04.960
who are you in the majority?
What are they going through? What

1297
01:48:05.159 --> 01:48:11.319
are the consequences of them not obeying
these exective order? No, and that's

1298
01:48:11.359 --> 01:48:14.199
why it continues to happen. So
we've come together, we've done that.

1299
01:48:14.359 --> 01:48:16.920
Way to do we won't we won't
see. We even came together at the

1300
01:48:16.960 --> 01:48:23.359
point and said it's still pressing machine. It's about and like no only it's

1301
01:48:23.359 --> 01:48:27.760
still pressing whatever. It's about twenty
million dollars. We've come as okay,

1302
01:48:27.760 --> 01:48:30.880
you know what, we will all
come together to do this thing, to

1303
01:48:30.960 --> 01:48:34.359
bring them one thro these twenty million
dollars. You guys in government, just

1304
01:48:34.600 --> 01:48:41.840
as sure that every year all your
vehicles who come from we that we've done

1305
01:48:41.920 --> 01:48:46.720
this. We didn't get any results
from them the meeting that we did not

1306
01:48:46.800 --> 01:48:51.920
get any result. We've done these
things, so but then they do not

1307
01:48:53.079 --> 01:48:56.760
respond. Possibly, so try test
that being there done. That's got a

1308
01:48:56.800 --> 01:48:59.720
T shirt. I mean, if
you don't get the market, you can't

1309
01:49:00.479 --> 01:49:04.199
Is that simple? All right?
Okay, really quick, no, we

1310
01:49:04.279 --> 01:49:08.039
gotta we gotta move on, sir. We gotta move on this. You

1311
01:49:08.039 --> 01:49:12.399
don't mind set ye have I have
my second question? You have a very

1312
01:49:12.520 --> 01:49:16.520
very quick, very very quick okay, So the second contribution I wrote about

1313
01:49:16.560 --> 01:49:23.039
it recently, you know, on
my to spend on my Sorry, you

1314
01:49:23.119 --> 01:49:27.720
gotta ask the question real quick now, okay, okay, So what I

1315
01:49:27.840 --> 01:49:30.479
what I was talking about? This
what I was talking about, you know,

1316
01:49:30.600 --> 01:49:34.439
it's you know, the postility are
actually a lining in such a way

1317
01:49:35.319 --> 01:49:43.119
that the Luca market can actually be
you know that they look as sorry,

1318
01:49:43.199 --> 01:49:45.600
So I gotta move on, sir, I'm so sorry. I gotta move

1319
01:49:45.680 --> 01:49:49.159
on. I'm so sorry. Let's
get a twelve. Yeah at twelve,

1320
01:49:49.199 --> 01:49:54.720
you've got a flossae. Yeah,
good morning, good morning. Yes,

1321
01:49:54.800 --> 01:49:59.079
I go ahead, a very cool. So I have a couple of questions

1322
01:49:59.159 --> 01:50:01.640
and some things I would like to
talk about, so just real quick.

1323
01:50:03.319 --> 01:50:11.000
I think one way we can grow
internal get Nigeria to use more new cars

1324
01:50:11.319 --> 01:50:16.640
is financing. And that's a major
issue if you go outside of the country,

1325
01:50:16.640 --> 01:50:20.279
even place likes of Africa, people
barely pay cash down for cars.

1326
01:50:20.920 --> 01:50:26.720
You know, there's always that financing
aspect to it. So if policymakers want

1327
01:50:26.800 --> 01:50:30.760
to come in to see how we
they can grow you know, the use

1328
01:50:30.880 --> 01:50:36.560
of new cars and then probably target
making ninets, that's one way that you

1329
01:50:36.720 --> 01:50:41.800
can then grow the numbers. You
know, there are a lot of companies

1330
01:50:41.840 --> 01:50:45.039
in Nigeria that have like banks and
the rest of them that have you know,

1331
01:50:45.279 --> 01:50:50.359
vehicle loans and give vehicle loans and
all that to their staff. If

1332
01:50:50.399 --> 01:50:54.720
there is a policy in place,
maybe something like the way you have any

1333
01:50:54.840 --> 01:50:59.359
chair for housing and all that,
there's a policy in place like a financial

1334
01:50:59.439 --> 01:51:03.119
product that you can you know,
create and then maybe go bank. Can

1335
01:51:03.479 --> 01:51:06.600
you know, kind of have some
kind of backing and all that to rate.

1336
01:51:08.359 --> 01:51:11.479
That would be a long way to
make it easy for Nigerence to have

1337
01:51:11.720 --> 01:51:15.039
cars on a high appurchase and finance
and basis. And our question I want

1338
01:51:15.079 --> 01:51:23.960
to ask is autopaths. One area
that I feel that a lot of Nigerien

1339
01:51:24.560 --> 01:51:30.800
local auto producers can do is things
like autopaths, like maybe breaks and a

1340
01:51:30.880 --> 01:51:34.119
couple of other autopaths that can also
move and also target the export market.

1341
01:51:34.199 --> 01:51:39.399
I don't know how viable this would
be, you know, but I think

1342
01:51:39.439 --> 01:51:43.760
that's one of those things you could
do that would help you and keep your

1343
01:51:43.920 --> 01:51:45.760
factories alive. Again, I don't
know much about it. I don't know

1344
01:51:45.840 --> 01:51:50.439
how easy it is. Maybe it's
probably been done. It's just something I

1345
01:51:50.520 --> 01:51:56.680
want to suggest. Then there's also
the issue of what are the lessons we've

1346
01:51:56.800 --> 01:52:01.760
learned. We've been assembling cars the
seventies. I think Pan and Books and

1347
01:52:02.199 --> 01:52:06.319
Messages and a couple of other companies
came in to Nigeria and the seventies and

1348
01:52:06.359 --> 01:52:11.359
we had this grand plan and we're
selling you know, many of us who

1349
01:52:11.439 --> 01:52:15.640
grew up in the eighties and nineties
use Nigerian cars. Along the line,

1350
01:52:15.720 --> 01:52:18.840
something happened. A lot of the
things you're suggesting now, government buying,

1351
01:52:18.880 --> 01:52:24.439
procuring just only Nigerian cars and all
that. All these things happened in the

1352
01:52:24.560 --> 01:52:29.439
nineties. I remember growing up then
most governments, even up to early two

1353
01:52:29.520 --> 01:52:33.840
thousand's, most government cars were posia
and even up to now you still see

1354
01:52:33.840 --> 01:52:36.640
a lot of governments too, you
know, procure posia and all that.

1355
01:52:38.159 --> 01:52:40.880
But it didn't really work. Something
along the line didn't work. So I

1356
01:52:40.960 --> 01:52:45.560
feel like there's something we still need
to learn because the major thing for me,

1357
01:52:45.760 --> 01:52:49.359
and the major the thing that's kind
of like, I feel like the

1358
01:52:49.520 --> 01:52:56.640
major problem here is the cost of
manufacturing. If it's cheaper to import than

1359
01:52:56.720 --> 01:53:00.279
to manufacture here in Nigeria, then
the economy with decide there's nothing you can

1360
01:53:00.359 --> 01:53:04.279
do. You can ban things and
all that water will always find this level.

1361
01:53:04.479 --> 01:53:08.960
And we've seen that here in Rise. We've seen that in so many

1362
01:53:09.000 --> 01:53:14.159
things that we'll try to ban.
I think are what can we do to

1363
01:53:14.359 --> 01:53:18.600
make vercal manufacturing cheaper? Managa,
how can we make it competitive? Because

1364
01:53:19.239 --> 01:53:24.920
we're not just looking at the impulse
substitution. We should also look at exporting

1365
01:53:25.399 --> 01:53:28.720
South Africa today. A lot of
the toyota we're using Injuria today, brand

1366
01:53:28.760 --> 01:53:31.399
new toyota come from South Africa,
right, Morocco too, there are other

1367
01:53:31.520 --> 01:53:36.000
countries. I've also gone into vehicle
assembly and all that. So what are

1368
01:53:36.079 --> 01:53:41.560
they doing? What do they have
that we can leverage on? Is it

1369
01:53:41.760 --> 01:53:45.319
power? Can we can we can
we solve power or dedicate pable free tradism

1370
01:53:45.479 --> 01:53:51.319
where we have cheap power, and
that would then encourage heavy industries because I

1371
01:53:51.439 --> 01:53:57.079
was so Africa did well before they
met their power or they had cheap code

1372
01:53:57.399 --> 01:54:00.600
and they use that to do heavy
industries and all that. And so there's

1373
01:54:00.640 --> 01:54:05.800
your competitive advantage. What competitive advantage
we have in Nigeria that will make vehicle

1374
01:54:05.920 --> 01:54:12.000
production very cheap and allow us to
be able to target the export market because

1375
01:54:12.079 --> 01:54:15.319
that's where the money is. So
well, I that's those are mine.

1376
01:54:15.439 --> 01:54:20.640
Yeah, those are very very those
are fantastic. I mean yeah, yeah,

1377
01:54:21.119 --> 01:54:25.279
the raw martials and the loan,
the other loan. I mean is

1378
01:54:25.319 --> 01:54:28.359
it possible that I can go to
Nord and get Yeah, those two I

1379
01:54:28.399 --> 01:54:32.840
really love on this custom manufacturing because
maybe I think I need to clarify public

1380
01:54:32.840 --> 01:54:39.479
because so that everybody can get it, because I think it's a very very

1381
01:54:39.520 --> 01:54:45.920
important topic. So there is a
reason I mentioned earlier that we were just

1382
01:54:46.119 --> 01:54:53.239
we sawd some no tangs to utician
markets and we have some customers in Ghana.

1383
01:54:53.680 --> 01:54:56.800
If you go to the post pack, you're gonna you see some posts,

1384
01:54:56.920 --> 01:55:00.680
some positis. I've gotten pictures from
from my friends in Ghana sending their

1385
01:55:00.720 --> 01:55:04.159
pictures and convert late to me.
Why is that happening? Because we are

1386
01:55:04.319 --> 01:55:10.880
cheaper, We are more for people
than the other alternatives in these markets.

1387
01:55:11.640 --> 01:55:14.920
If those people get to know more
about those like you said in the Caribbean,

1388
01:55:15.119 --> 01:55:17.920
they will all the more from us. That's why we need it for

1389
01:55:18.000 --> 01:55:28.520
you. So the cost of manufacturing
for us is as good, if not

1390
01:55:28.760 --> 01:55:36.640
even lower than our counterparts from elsewhere
in Japan or usc When we say it

1391
01:55:36.800 --> 01:55:47.680
is cheaper, we're talking about the
used market. All the adware explain it.

1392
01:55:47.760 --> 01:55:54.279
Now, if somebody wants to buy
most people want to buy vehicles.

1393
01:55:54.319 --> 01:55:57.880
Now, they were going to buy
a five year or four years or three

1394
01:55:57.960 --> 01:56:01.560
years would which is not really so
old but also not new. Are you

1395
01:56:01.640 --> 01:56:08.439
get to my points? So they
go out there they buy this vehicle,

1396
01:56:08.920 --> 01:56:18.760
which is we has as status of
use in international trade, but it's as

1397
01:56:18.840 --> 01:56:25.840
good in the social in social class
in Nigeria. So they bring these things

1398
01:56:26.000 --> 01:56:35.600
in and that's accused the incentives to
make the vehicles in Nangeria. So but

1399
01:56:35.880 --> 01:56:44.000
if you take a vehicle an STV
for example, paths for paths that were

1400
01:56:44.000 --> 01:56:47.960
assembled in Nigeria, are you take
that same vehicle pat for paths that were

1401
01:56:47.960 --> 01:56:53.760
assembled in Japan? The vehicle in
Angeria will be will be mad for the

1402
01:56:53.840 --> 01:56:57.000
book, I said, I made
it about this some years ago, I

1403
01:56:57.079 --> 01:57:02.720
said, maybe a year ago,
I said, I counterpart elsewhere in Japan

1404
01:57:02.880 --> 01:57:08.840
or America are buying brown new vehicles
in America about twenty thousand dollars, mister

1405
01:57:08.920 --> 01:57:11.760
Carlo in America, right, I'm
sure a brand new Vecu in America.

1406
01:57:12.479 --> 01:57:15.159
You could be difficult for you to
see a brand new Vecan America for ten

1407
01:57:15.199 --> 01:57:18.439
thousand dollars? Is actually I played
the fifth Yeah, I guess so,

1408
01:57:18.600 --> 01:57:24.159
yeah, I mean it's brown new
vehicle. What's the vehic in America?

1409
01:57:25.000 --> 01:57:29.279
It dependently on the brands. Really, you can you can get a car

1410
01:57:29.399 --> 01:57:33.359
here for like thirteen thousand and all
that what was his name? The fod

1411
01:57:33.520 --> 01:57:38.720
those little folds, little tiny gms, little small like they look like tinos,

1412
01:57:39.760 --> 01:57:45.199
very very tiny Spottish kind cars.
Okay, dollars. You can get

1413
01:57:45.560 --> 01:57:51.079
a north vehicle forty equivalent about fifteen
thousand dollars. I'm not apprised the can

1414
01:57:51.159 --> 01:57:59.279
abouts like in normal size. See
that that I'm sure you'll be getting for

1415
01:57:59.319 --> 01:58:02.199
about twenty dollars one goas so,
why are we able to get complete at

1416
01:58:02.239 --> 01:58:10.039
that price? Because our cost of
manufacturing is also committitive, because even though

1417
01:58:10.239 --> 01:58:16.720
we have relatively expensive electricity, I
as an entrepreneur, I've identified some factors

1418
01:58:16.760 --> 01:58:25.000
of production in Nigeria that are affordable
and we're using that. So to answer

1419
01:58:25.000 --> 01:58:29.800
your question of our cost of manufacturing, I think we are fine going back.

1420
01:58:29.840 --> 01:58:32.279
You know, you know you in
your next question before that was there's

1421
01:58:32.279 --> 01:58:35.359
nothing I want want to do now, not only seventies. I also mentioned

1422
01:58:35.479 --> 01:58:41.439
that that that was one of the
reasons why the the seniument of my industry

1423
01:58:41.560 --> 01:58:45.640
said no, they don't want any
manufacturing because it would not last. The

1424
01:58:45.760 --> 01:58:50.720
reason why, I mean, the
reason why it failed was policies and assaults

1425
01:58:54.239 --> 01:59:04.279
every every every country tries to protects
it is industry. Different parts of the

1426
01:59:04.600 --> 01:59:11.399
of the economy has to choose the
US, those the China. Those in

1427
01:59:11.560 --> 01:59:15.319
China. You cannot tea is very
scarce in China, very very scarce.

1428
01:59:16.039 --> 01:59:23.600
Why because the tariffs Toetia doesn't have
a factory in China, and so if

1429
01:59:23.600 --> 01:59:27.079
you'ren't being in China, you have
to beca factory in China. So if

1430
01:59:27.079 --> 01:59:30.199
you want to bring in China,
you have to import it in artitarists is

1431
01:59:30.279 --> 01:59:34.520
really really expensive. So we can
do this tempting in Ningerias. Okay,

1432
01:59:34.520 --> 01:59:39.920
you know what this citizens, So
you take care. If you want to

1433
01:59:40.079 --> 01:59:45.800
sell to Nigerians, then the vehicles
and Injurians drive mostly vehicles that are made

1434
01:59:46.199 --> 01:59:53.920
by Ningurians. Great jobs in Nigeria. You cannot bring in the vehicles where

1435
01:59:53.920 --> 01:59:58.479
when you five six people are employed
in seals and you're selling two thousands of

1436
01:59:58.560 --> 02:00:03.119
people, you have to create that
job and you need to only be sustained

1437
02:00:03.560 --> 02:00:10.560
when the policy remains constant, when
the courage, when the policy remains encouraging

1438
02:00:13.640 --> 02:00:18.399
implemity is why it didn't work.
People got into government and they felt they

1439
02:00:18.520 --> 02:00:24.439
chose easy money. It's easier to
import it in our self. So what

1440
02:00:24.560 --> 02:00:32.399
did they do? They decided to
reduce the tariff so that you can discourage

1441
02:00:33.239 --> 02:00:40.920
manufacturing and you can bring in more
cheap fully built vecus. And of course

1442
02:00:40.920 --> 02:00:45.920
the intensive to vocals and Jeri are
just type because why would anybody want to

1443
02:00:45.960 --> 02:00:50.840
make vehicles when there is a completive
advantage and as that's the reason why it

1444
02:00:50.920 --> 02:01:00.960
does that. So we need to
remain we need to continue to support your

1445
02:01:00.159 --> 02:01:04.960
creation in Nigeria, waiting to continue
to do things to keep policies that create

1446
02:01:05.079 --> 02:01:13.479
jobs in Ninggeria working. The other
question I asked was about finances. Very

1447
02:01:13.680 --> 02:01:16.600
I had this feed some some some
some months ago and I said, I'm

1448
02:01:16.640 --> 02:01:24.319
not samey reason why people have to
pay for their cars in four cars are

1449
02:01:24.399 --> 02:01:29.760
usually the second most expensive things and
have reprecing with buying their lifetime after the

1450
02:01:29.840 --> 02:01:38.279
house. So it makes sense,
so actually spread the payment for cars Ningerians

1451
02:01:38.319 --> 02:01:42.199
don't have. Nigerians you should not
buy cars at once. You should spread

1452
02:01:42.239 --> 02:01:46.359
that for as much as five six
years. However, and I we have

1453
02:01:46.520 --> 02:01:51.279
some problems. I tried to ignore
it. Two years ago on my own,

1454
02:01:51.880 --> 02:01:57.279
we started a financing program because we
tried to get some banks to support.

1455
02:01:57.680 --> 02:02:00.560
Some banks supported for the extreme.
The interest was too high. Most

1456
02:02:00.600 --> 02:02:04.600
customers were not interested because the interests
are around twenty eight percent by our most

1457
02:02:04.640 --> 02:02:08.720
customers were not interested. So that
when you say you are doing it,

1458
02:02:08.760 --> 02:02:11.079
but you have to inteft theer cents, it's almost like you're saying about doing

1459
02:02:11.159 --> 02:02:14.920
this because it's gonna be very difficult
to get somebody to buy a car and

1460
02:02:15.000 --> 02:02:18.600
spreading payments for so see at twenty
eight percent. So we tried to do

1461
02:02:18.760 --> 02:02:25.960
it and we brought the interestry down
to around the fifteen percent, you know,

1462
02:02:26.039 --> 02:02:28.680
just to see how it were.
And it didn't work well. He

1463
02:02:28.760 --> 02:02:32.079
didn't work too well. We had
a lot of defaults. We had a

1464
02:02:32.119 --> 02:02:40.880
lot of issues, which is some
of the problems actually plague in our credit

1465
02:02:40.960 --> 02:02:44.399
system. We also have to solve
that problem. But I think that,

1466
02:02:44.840 --> 02:02:47.560
like you said, it is a
way to go. If the reason why

1467
02:02:47.560 --> 02:02:54.199
we spending creating system was because I
analyze that if we're able to sell some

1468
02:02:54.479 --> 02:03:00.840
vehicles with payments like the payment,
with people being able to spread payments,

1469
02:03:00.159 --> 02:03:04.880
we will sell maybe ten times more
than currenttee sale. So that's like ten

1470
02:03:04.960 --> 02:03:09.720
times our current revenue. And that
was the incentive for me. But we

1471
02:03:09.880 --> 02:03:13.239
tried it and it didn't work out
to the world. We had a lot

1472
02:03:13.279 --> 02:03:16.600
of defaults, people just refusing to
be, people changing a dress, people

1473
02:03:16.680 --> 02:03:21.399
moving away, people changing jobs.
It was also much problems because we don't

1474
02:03:21.439 --> 02:03:28.560
have we don't really have a good
what I call it identity is sustain So

1475
02:03:28.680 --> 02:03:31.479
he's very hard for people to get
that credit. Yeah. Without without much

1476
02:03:31.600 --> 02:03:35.640
identity, you can't track people.
If you can't track people, you cannot

1477
02:03:35.760 --> 02:03:42.199
score. If you can't score,
you can't Yeah, good points. And

1478
02:03:42.279 --> 02:03:46.680
he's always no, always very reliable. Yeah, and he's asking and I

1479
02:03:46.720 --> 02:03:49.760
can take the last one. He's
asking about the cheap power wife. We're

1480
02:03:49.760 --> 02:03:53.439
are going to create a class that
which I've done that yesterday, right,

1481
02:03:53.920 --> 02:03:58.239
don't that yesterday? Right? Create
maybe a place and our free trade zones

1482
02:03:58.279 --> 02:04:00.760
could just do that, go to
the free trade zones on the coasts of

1483
02:04:00.880 --> 02:04:09.880
Nigeria and create complexes with no taxes, constant power and security companies moving there

1484
02:04:10.399 --> 02:04:15.760
and of course they know how and
beton will seep out to the surrounding here.

1485
02:04:15.880 --> 02:04:18.159
That's what China did. So we
haven't done that caliber Yeah, I

1486
02:04:18.199 --> 02:04:25.319
mean, yeah, so we just
copy. Yeah, it's not rocket science,

1487
02:04:25.359 --> 02:04:28.119
and it's a good point. Just
go there and and get that done.

1488
02:04:28.520 --> 02:04:31.279
Put out other stuff there and you
know, and we can start from

1489
02:04:31.319 --> 02:04:35.720
there. A EJ A e J. Mister Manchester City hiding got the floor

1490
02:04:35.800 --> 02:04:44.720
AJ oh yeah, yeah yeah.
It's really a lot about it. What

1491
02:04:45.000 --> 02:04:51.600
explain and all those things? Well
my quistion is that because my questin I

1492
02:04:51.720 --> 02:04:57.239
want to do for him is it
have you make because this is my first

1493
02:04:57.279 --> 02:05:02.560
time of hearing this moding, noding
mobility or tomobile? Have you made this

1494
02:05:02.720 --> 02:05:06.840
to a car been popular in nan
Duran for every part of the state to

1495
02:05:08.079 --> 02:05:13.880
really come so close to the cars
to give really get to know about this

1496
02:05:14.000 --> 02:05:16.079
car because one of the things and
now Uran love cars and you need to

1497
02:05:16.159 --> 02:05:19.600
make it popular. And there's another
thing I want to ask. Are you

1498
02:05:19.720 --> 02:05:25.560
the one and I's saying this company
yourself full time or you are the shareholders

1499
02:05:25.760 --> 02:05:30.960
or with you because there's one thing
I want you to understand that if you

1500
02:05:30.119 --> 02:05:33.039
give the a you're an opportunity and
even you're not, you'ren to in face

1501
02:05:33.159 --> 02:05:36.159
like maybe by sharing your company,
at least you have be planned for the

1502
02:05:36.279 --> 02:05:41.159
company. That company will grow and
make it very good standard and you with

1503
02:05:41.319 --> 02:05:45.000
your company will grow where I would
alieve you will give us because I know

1504
02:05:45.279 --> 02:05:47.800
many Nagurans who are looking for a
way to win face even the minimal to

1505
02:05:47.920 --> 02:05:53.079
buy share to make your and nothing
will come that tomorrow all these company close

1506
02:05:53.119 --> 02:05:56.800
down and all those things, and
you really got good intention. They're definitely

1507
02:05:57.119 --> 02:06:00.920
the complaining good. So I want
to know what is at least you're one

1508
02:06:01.000 --> 02:06:04.800
of these two questions going ill still
what is actually your your plans for it?

1509
02:06:12.079 --> 02:06:15.640
Your first question is about it.
Isn't how popular really proteing your brands?

1510
02:06:17.600 --> 02:06:21.079
Well? Thank you? Is a
very big country, very big country.

1511
02:06:21.840 --> 02:06:29.159
And I got to really say,
I appreciate that we're trying to push

1512
02:06:29.279 --> 02:06:32.039
not because I used to be ice
work from my cities bends. It was

1513
02:06:32.159 --> 02:06:36.000
easier when in uns cities bends,
but when I stayed not and it was

1514
02:06:36.039 --> 02:06:41.319
a lot. Like we spend a
lot in advertisements, we do it a

1515
02:06:41.439 --> 02:06:45.880
lot and a lot of people as
much as we spend. You go somewhere

1516
02:06:45.920 --> 02:06:48.039
else, who say, ah,
I'm talking about you to see isn't about

1517
02:06:48.039 --> 02:06:50.760
you? To be as you were
on space now, mister Carl is very

1518
02:06:50.800 --> 02:06:58.079
popular on Twitter. You you something
will happen tomorrow and so still see I've

1519
02:06:58.119 --> 02:07:00.119
been on Twitter. I head about
this before you be thinking all were on

1520
02:07:00.199 --> 02:07:05.039
space is one very popular person,
you know, and so he's just like

1521
02:07:05.159 --> 02:07:09.279
I said, he's all shows that
address a very big country on our own

1522
02:07:09.439 --> 02:07:15.880
side, very creative media if you're
at that point. But that's one of

1523
02:07:15.920 --> 02:07:19.560
the reason why people actually love us, because we are we are there,

1524
02:07:21.479 --> 02:07:27.840
we we we can relate to the
average Niningerian abreging enjoined you, we're showing

1525
02:07:27.840 --> 02:07:30.159
an egeriance that this is an Agerian
dream. You can actually be in this

1526
02:07:30.319 --> 02:07:34.279
country and make good things and do
well. You know. So what we

1527
02:07:34.399 --> 02:07:39.199
are being a bit patient, We
are spending more money, We're going out

1528
02:07:39.239 --> 02:07:44.039
there were dream more creative things or
I agree with you that we live a

1529
02:07:44.159 --> 02:07:49.239
lot more work on that side.
But I think with more sales and with

1530
02:07:49.399 --> 02:07:53.159
time, we will be as popular
as we need to be. So that's

1531
02:07:53.199 --> 02:07:56.479
good fast because your second question is
about do I own all the company?

1532
02:07:56.520 --> 02:07:58.920
No, I don't own all the
company. I own majority of it.

1533
02:08:00.680 --> 02:08:03.960
You know, I started company in
twenty seventeen. I at that time my

1534
02:08:05.000 --> 02:08:09.119
own own represents. In twenty nineteen, after starting the company and building some

1535
02:08:09.279 --> 02:08:13.960
things, that investing setting things,
I got some investors in that got a

1536
02:08:15.039 --> 02:08:20.159
part of the company. So I
sold a fraction of it, and we

1537
02:08:20.239 --> 02:08:26.399
haven't raised money since then until recently, which we got a new strategic partner.

1538
02:08:26.399 --> 02:08:30.319
I wasn't even for the money.
It was for someome they had some

1539
02:08:31.079 --> 02:08:33.640
strategic interest we're gonna bring in on
board. They give them a note,

1540
02:08:33.640 --> 02:08:39.399
a tiny part. So at the
moment, I still own a pig parts

1541
02:08:39.439 --> 02:08:50.479
of the company and and we are
not we get raising money from the public

1542
02:08:50.960 --> 02:08:54.520
because we do not need it at
a moment. We are trying to grow

1543
02:08:54.560 --> 02:09:01.199
our company and growing revenue and maybe
to our proper you know, investment rounds

1544
02:09:01.800 --> 02:09:05.600
and grew to the point where we
can do a proper IP. By that

1545
02:09:05.720 --> 02:09:09.079
time, by God's grace, will
probably be one of the biggest companies on

1546
02:09:09.159 --> 02:09:15.479
the African continent. So that's our
plan. Actress. Hopefully more revenue we

1547
02:09:15.680 --> 02:09:18.479
get the first time we get to
the IPS, so maybe when we get

1548
02:09:18.520 --> 02:09:22.199
to the IP or earlier for the
maybe doing doing doing a round if you

1549
02:09:22.279 --> 02:09:24.960
know, people get maybe even part
of it. But right now we're still

1550
02:09:26.039 --> 02:09:28.760
okay with what what we we have. It's trying to grow, it's trying

1551
02:09:28.800 --> 02:09:33.039
to get his numbers a traction up
and all that up, and it's show

1552
02:09:33.119 --> 02:09:37.079
capacity. No scale skill skill us
what skill skill skills skill wins. That's

1553
02:09:37.199 --> 02:09:41.119
just it, scale wins. Hiogo, We've got the floor. Go trickle,

1554
02:09:43.640 --> 02:09:48.760
go ahead, go ahead. Thank
you, Yeah, mister char it's

1555
02:09:48.800 --> 02:09:52.840
great hearing from you. I really
love what you're doing. It's very inspiring

1556
02:09:54.479 --> 02:10:03.319
for entrepreneurs and manuring trying to make
possible happen. Basically, myst a bit

1557
02:10:03.359 --> 02:10:05.880
of a suggestion and also a question, but it's a broad question. That

1558
02:10:07.520 --> 02:10:13.960
focus is more on the mindset of
possessing majority nine nine percent of what you're

1559
02:10:15.000 --> 02:10:22.279
doing as an entrepreneur. It's mainly
about mindsets and then the rest. It's

1560
02:10:22.439 --> 02:10:26.520
the efforts that were put in and
also the system that we couldn't place it.

1561
02:10:26.079 --> 02:10:31.439
So, doing business in Nigeria and
like building a company, like a

1562
02:10:31.560 --> 02:10:37.479
real company that is doing a huge
good in the public and also turning on

1563
02:10:37.600 --> 02:10:43.279
profit is like a mission impossible.
And if you think of it as a

1564
02:10:43.359 --> 02:10:50.319
mission impossible, mission impossible is that
it's a scenario whereby everything that is supposed

1565
02:10:50.359 --> 02:10:56.560
to work in your favor is turned
against you. So in that case,

1566
02:10:56.920 --> 02:11:01.079
it becomes your question your tax It's
just like you're giving the tax your taxes

1567
02:11:01.159 --> 02:11:07.239
to make sure that you achieve this
and like in the normal sense, you're

1568
02:11:07.239 --> 02:11:13.000
supposed to be feelm like normally in
the mission impossible. But the tax is

1569
02:11:13.039 --> 02:11:15.800
to make sure that all of those
things that you're tryally going to turn in

1570
02:11:15.840 --> 02:11:20.640
together. So a good example is
all of ninety nine percent of the constrom

1571
02:11:20.800 --> 02:11:24.720
we had in heavy year. It's
around the government's government, government's government covernity.

1572
02:11:24.880 --> 02:11:28.199
So think of it this way.
Government is your father. Your father

1573
02:11:28.399 --> 02:11:33.560
is drunk, he's an altit your
mom, he's sleeping with other or other

1574
02:11:33.640 --> 02:11:39.039
women, and it's not coming back
home. So you basically don't have a

1575
02:11:39.079 --> 02:11:43.880
father in that situation, what will
you do? So it's usually the kind

1576
02:11:43.880 --> 02:11:48.000
of mindset that an entrepreneur in Nigeria
should adopt if they really want to make

1577
02:11:48.079 --> 02:11:54.560
the headway. And it's also very
important that when we have that kind of

1578
02:11:54.720 --> 02:12:00.960
mindset, it's not because we have
let's say the next it's in mindset of

1579
02:12:01.079 --> 02:12:05.359
perspective towards life. It's actually from
a realistic perspective, because if you look

1580
02:12:05.359 --> 02:12:09.760
at most of these other countries that
eventually went from nothing to great and all

1581
02:12:09.800 --> 02:12:13.520
of that, at some point their
government was like very terrible. America didn't

1582
02:12:13.600 --> 02:12:18.239
start off very rich and all of
that. It was actually entrepreneurs that built

1583
02:12:18.279 --> 02:12:22.319
America. Wasn't politicians, was people
coming from different parts of the world who

1584
02:12:22.359 --> 02:12:24.199
have feared of what is wrong,
and even people who are in the country

1585
02:12:24.199 --> 02:12:28.720
you didn't like what was happening.
Entrepreneurs came up and then they started building

1586
02:12:28.920 --> 02:12:33.119
business people and the building system.
So in light of this, uh,

1587
02:12:33.439 --> 02:12:41.600
this background, I would like to
also borrow from what authors said when he

1588
02:12:41.720 --> 02:12:46.760
talked about I want to have you
asked the question talked about it was a

1589
02:12:46.840 --> 02:12:50.800
question what land the ship will go? Let's land the ship will go.

1590
02:12:50.039 --> 02:13:00.239
Yeah, I don't ask the question
of you'll collaborating with other automakers to find

1591
02:13:00.279 --> 02:13:05.640
a way to make you know this
steal and also the solve the problem of

1592
02:13:05.560 --> 02:13:11.640
power and that you pointed out that
you've tried that to some extent but it

1593
02:13:11.720 --> 02:13:16.680
didn't work. But if you look
at realistically, you might find out that

1594
02:13:18.359 --> 02:13:22.960
that might be your only option if
you really want to make make it headweight

1595
02:13:22.000 --> 02:13:28.079
in this thing. So the question
of accents can you delete in a let's

1596
02:13:28.159 --> 02:13:33.199
plain this in if my question is
let's presume that there is no government,

1597
02:13:33.279 --> 02:13:37.079
let's delete government adults shoeah. But
Gogle, Google, Google Google. But

1598
02:13:37.199 --> 02:13:41.560
there's government now, no government.
When it's comes to solving the problem of

1599
02:13:41.640 --> 02:13:50.199
the stelling and solving the problem of
the power, let me come in go

1600
02:13:50.600 --> 02:13:56.319
there is government. That's the reality. The America you mentioned the men will

1601
02:13:56.359 --> 02:13:58.520
beuil to America and ready book.
I don't know if you ready book.

1602
02:14:00.279 --> 02:14:05.119
They took advantage of the facts that
they were more or less the governments,

1603
02:14:05.920 --> 02:14:11.640
Rockefeller and the rest, right,
you know, they took advantage of the

1604
02:14:11.720 --> 02:14:13.640
fact that they were close to government. It did a lot of things.

1605
02:14:16.279 --> 02:14:18.840
There is a really I can't remember
know of the company, Mr Carluca.

1606
02:14:18.880 --> 02:14:22.039
You remind me of the company that
was broken down into the oil Acas company,

1607
02:14:22.439 --> 02:14:26.760
Standard Oil because they came to big
standard oil. Standard Poe is very

1608
02:14:26.800 --> 02:14:35.680
good, Standard Poel. They grew
because the government were supporting them. Then

1609
02:14:35.760 --> 02:14:41.880
they became too big and the same
government said you are too big. You

1610
02:14:43.239 --> 02:14:48.199
your size is now it saved to
the agorage Americas's so let us, let

1611
02:14:48.319 --> 02:14:56.720
us, let us get you broken
down. There is governments like you said,

1612
02:14:56.920 --> 02:15:01.319
you your men are like you used
to said the world father to for

1613
02:15:01.600 --> 02:15:07.600
entrepreneurship or for businesses, it's not
you. You're not gonna if if the

1614
02:15:07.680 --> 02:15:13.239
government is like the father to a
toddler, to a guy in primary school,

1615
02:15:15.399 --> 02:15:18.439
that's that you cannot do it on
your own. You cannot do it

1616
02:15:18.560 --> 02:15:24.600
on your own. The government has
to one way or the order supports you

1617
02:15:24.039 --> 02:15:28.159
or looky way, or they have
to. So that's why we're saying the

1618
02:15:28.239 --> 02:15:33.479
government has to do one or the
things every company in the world Tesla General

1619
02:15:33.520 --> 02:15:39.640
Electric intail I just mentioned the foundation
of Intael that we that makes that computers.

1620
02:15:39.720 --> 02:15:46.439
You think Intael will not have been
possible without NASA. That means your

1621
02:15:46.479 --> 02:15:50.079
computer will not have been working if
the America did not try to compete to

1622
02:15:50.119 --> 02:15:54.920
your Escessa in the nineteen fifties and
nineteen sixties, and you will not have

1623
02:15:56.000 --> 02:16:01.479
Silly Convalley because in nineteen fifties and
nineteen sixties the big gets contractors of the

1624
02:16:01.600 --> 02:16:07.600
companies and Stilly Convalu and really where
denied him the US military and NASA.

1625
02:16:09.960 --> 02:16:13.439
So the government has to like like
mister can also mentioned, we're not saying

1626
02:16:13.560 --> 02:16:18.640
that he just wait on the government. No, the government will help you

1627
02:16:20.039 --> 02:16:28.359
build capacity. Then when you build
capacity, you go out there because you

1628
02:16:28.399 --> 02:16:31.360
do not have capacity, you have
employees, you have everything, you go

1629
02:16:31.520 --> 02:16:37.319
out there, go to the world
a start solving problems at a better price.

1630
02:16:39.399 --> 02:16:43.559
That's how it's doing. I agree, I agree, I agree.

1631
02:16:43.639 --> 02:16:48.000
The government should give you skill,
I give you the power to negotiates.

1632
02:16:48.040 --> 02:16:50.719
I mean, if you read the
story, if you can read the story

1633
02:16:50.760 --> 02:16:56.559
about is it how you die?
And South Korea they had a much dictector.

1634
02:16:56.680 --> 02:16:58.319
He came in, he called Heinda
and said, go and build ships.

1635
02:17:00.440 --> 02:17:03.200
They don't go and build ships.
They were looking for ships. I

1636
02:17:03.319 --> 02:17:07.639
think I knew nothing about our ships. And they went to Scotland, got

1637
02:17:07.760 --> 02:17:11.639
order for two ships, went back, trained South Koreas and delivered the ships.

1638
02:17:11.680 --> 02:17:16.159
It's a large customized the story.
But the point is the government was

1639
02:17:16.280 --> 02:17:20.159
interested in creating in South Korean export
led economy. Any which way was going

1640
02:17:20.239 --> 02:17:24.920
to be done. So we're not
just saying shoot at blanks, but what

1641
02:17:24.120 --> 02:17:28.520
do you want to do in Nigeria? Are we going to do agriculture and

1642
02:17:28.600 --> 02:17:31.159
feed ourselves? Are going to do
export and export? What do we want

1643
02:17:31.159 --> 02:17:37.639
to do? Then every government posing
was then aligned. If we're important,

1644
02:17:37.799 --> 02:17:41.040
let's do that, and we're going
to import and then goods are going to

1645
02:17:41.079 --> 02:17:43.959
be cheap in Nigeria. But we'll
sell crude oil and fund those imports.

1646
02:17:45.799 --> 02:17:48.280
They will export a lot of crude
oil, but right now we're not exporting

1647
02:17:48.319 --> 02:17:52.799
crude oil. We are important.
We're doing capital substitution, we're doing import

1648
02:17:52.840 --> 02:17:58.559
substitution. There's capital controls, their
subsidies. The posities are disjointed. So

1649
02:17:58.719 --> 02:18:03.120
if we know where we're going to, yeah, if we know we're going

1650
02:18:03.239 --> 02:18:05.879
to we can buy a car or
buy a more and get there. But

1651
02:18:07.000 --> 02:18:09.520
if today the road is here,
tomorrow the road is gone, it's on

1652
02:18:09.600 --> 02:18:13.040
this left hand side, then you
can't plan. Imagine if you are a

1653
02:18:13.120 --> 02:18:18.879
business today, they float the currency
you are planning on a flotter currency.

1654
02:18:18.959 --> 02:18:22.520
Then they float is somehow back something
somehow, but you know it's you need

1655
02:18:22.639 --> 02:18:28.040
planning, it's not. Some businesses
don't like oncertainty. These stock markets don't

1656
02:18:28.120 --> 02:18:33.200
like uncertainty. If things are clear. If don't, it's going to be

1657
02:18:33.319 --> 02:18:37.000
ten thousand, but it's going to
remain at ten thousand or five years.

1658
02:18:37.440 --> 02:18:39.920
You can't plan around that. You
can plan around ten thousand, even if

1659
02:18:39.920 --> 02:18:43.799
it's expensive. You can say,
Okay, I'm gonna build my car at

1660
02:18:43.879 --> 02:18:48.600
five thousand. But if it's tends
on today one tomorrow, one million next

1661
02:18:48.719 --> 02:18:52.520
year. You really can't plan.
That's the problem in Nigeria. Stability of

1662
02:18:52.680 --> 02:18:56.479
macroeconomic indicators. We need to have
those things stable. Even if infection is

1663
02:18:56.479 --> 02:19:00.680
twenty five percent. Okay, let
this stay there be. Then we can

1664
02:19:00.760 --> 02:19:05.520
then start look for policies that will
then have local products that have a lower

1665
02:19:05.639 --> 02:19:09.319
inflation. But if it's all over
the place, then you have a problem.

1666
02:19:09.719 --> 02:19:13.760
That's really my take where I think
going on. Thanks Ugo, thank

1667
02:19:13.840 --> 02:19:16.559
you Sag. I know again,
I'm just thank you for hanging out with

1668
02:19:16.680 --> 02:19:18.479
us. We're nearly at three hours. We're gonna end up about forteen minutes

1669
02:19:18.559 --> 02:19:22.440
or two of the hour. Thanks
for hanging in here and talking to us

1670
02:19:22.440 --> 02:19:26.840
about not just nod you know the
same side, the investing side, the

1671
02:19:26.159 --> 02:19:30.079
entrepreneurs. That is what I want
you to come and talk about, right

1672
02:19:30.319 --> 02:19:33.600
to give us your sense of the
Niger economy, that side of that,

1673
02:19:35.000 --> 02:19:37.440
what you guys go through, visit
these policies at us and I think of

1674
02:19:37.520 --> 02:19:41.040
the injustice to to give you a
shout out and thus two time to put

1675
02:19:41.079 --> 02:19:46.879
out it's it? Yeah is it? Chiquo vi Ip will sue how you

1676
02:19:46.959 --> 02:19:54.719
doing sir? Is it? Chiu
v Ip will sue you're handing you hear

1677
02:19:54.799 --> 02:19:56.079
me, I can hear you said, because it turks were calling from You're

1678
02:19:56.120 --> 02:20:01.760
good to go, mister Jay and
kind of thank you for having me.

1679
02:20:01.959 --> 02:20:05.760
And I'm coming from me and I
think you know, besig I've got two

1680
02:20:05.920 --> 02:20:11.920
questions for you. One of them
is mainly around more like educating us on

1681
02:20:13.719 --> 02:20:18.799
electric cars than the second one has
to do week to cost, you know,

1682
02:20:18.959 --> 02:20:26.959
for Nigerias. So Bohole, we
lost or faith in governments providing us

1683
02:20:28.079 --> 02:20:33.360
water in Nigeria and people started diving
Bohole. None of people provide water for

1684
02:20:33.440 --> 02:20:39.920
themselves. There are also people who
built houses in Nigeria and have stolar panels

1685
02:20:39.959 --> 02:20:43.479
on your houses on your roof and
they don't know that rely on PSCN for

1686
02:20:43.639 --> 02:20:48.559
power. Now we started thinking and
I'm discussing this my mind and some of

1687
02:20:48.600 --> 02:20:56.959
my friends. We regards to the
challenges that we face with pm I surprises

1688
02:20:56.239 --> 02:21:01.520
people being able to feel their cards
in Nigeria area. So we are thinking,

1689
02:21:01.879 --> 02:21:07.799
how can we save Nigeria and also
save with humand pressure on b ms

1690
02:21:07.440 --> 02:21:11.840
and how can we like we leave
that parting from Nigerians. Then we thought

1691
02:21:11.280 --> 02:21:18.399
we have sung as a natural resource
to us almost all year round in Nigeria.

1692
02:21:18.760 --> 02:21:24.639
If we have electric cars in Nigeria
and I have my house in Nigeria,

1693
02:21:24.760 --> 02:21:30.600
I can put pilar panel on my
roof, drive my car, comeback,

1694
02:21:31.079 --> 02:21:35.479
plug it in the sun that powered
my house via the solar panel would

1695
02:21:35.559 --> 02:21:39.399
charge my car. Then the next
day I can go out under my denners

1696
02:21:39.440 --> 02:21:46.360
and come back. Isn't that way
we will reduce that human pressure on MS.

1697
02:21:46.559 --> 02:21:50.840
I know it's quite expensive for please, I want you to educate us

1698
02:21:50.920 --> 02:21:58.360
more. Truman lights on the challenges
we building electric cars in Nigeria. I

1699
02:21:58.600 --> 02:22:03.319
was listening when you talked about the
gas how that it's cheaper or it's preferable

1700
02:22:03.399 --> 02:22:09.440
to have the gas power cars and
electric cars. Can you trou more like

1701
02:22:09.719 --> 02:22:15.319
on why we are not look at
the fact that we have the sun as

1702
02:22:15.399 --> 02:22:20.399
natural resources used that as an incentive, you know, and think towards building

1703
02:22:20.440 --> 02:22:26.200
electric as as one. Number two, If all things are all variables are

1704
02:22:26.360 --> 02:22:33.520
as steady and an accustant an equal, do you think you will be able

1705
02:22:33.559 --> 02:22:41.399
to produce cars that work between three
million and five million era? Those are

1706
02:22:41.479 --> 02:22:43.719
might two QUESTI because I think that
would that that would see Nigerians, you

1707
02:22:43.799 --> 02:22:48.600
know, thinking about driving your cars. Might our fathers did back in the

1708
02:22:48.680 --> 02:22:52.319
eighties and nineties when they bought Pugure
about three thousand era and all that.

1709
02:22:52.840 --> 02:22:56.719
So these two vestils, can you
please ed get us move on that.

1710
02:22:56.079 --> 02:23:01.840
Thank you, thank you, thanks
so. First question on the electric and

1711
02:23:01.920 --> 02:23:09.920
I like your illustration. Well that's
very good illustration. And like I said,

1712
02:23:09.159 --> 02:23:15.639
I like electric cars personally, but
as a businessman, I'm always driven

1713
02:23:15.799 --> 02:23:20.000
by solving problems. And I've looked
and of course solving problems. You look,

1714
02:23:20.040 --> 02:23:24.079
you get your environment or the environment
target markets, your audience. How

1715
02:23:24.120 --> 02:23:30.760
you're in solving problem and I realize
that a lot of them still have electric

1716
02:23:33.000 --> 02:23:35.680
providing electricity for themselves. So what
we did, we did, we did

1717
02:23:35.760 --> 02:23:39.520
not what your illustration, your example
is a lot of moustraly forward. You

1718
02:23:39.600 --> 02:23:46.079
put yoursel a panneling on your rule, you get your charge extition, You

1719
02:23:46.159 --> 02:23:52.440
get your electric vehicle made by not
bring it into your own charge overnight for

1720
02:23:52.559 --> 02:23:56.760
eight hours or five hours the charge
next morning you can drive you for even

1721
02:23:56.959 --> 02:24:03.360
or because you can do like two
dread the underc elemeters very good, it

1722
02:24:03.440 --> 02:24:13.120
would work. But the question is
how many people can afford? How many

1723
02:24:13.159 --> 02:24:18.479
people we even drive vehicles in n
Ageriat can afford to power their own throughout

1724
02:24:18.479 --> 02:24:24.319
the night. You can't take I
can't. Yeah, but how many people

1725
02:24:24.440 --> 02:24:30.319
can? How many? How many
Uber drivers have to have power on?

1726
02:24:30.440 --> 02:24:35.239
Even twenty flowers have power from it
to clock when they get five am,

1727
02:24:35.319 --> 02:24:41.399
six am, seven am when they
recover. So that's my challenge, which

1728
02:24:41.440 --> 02:24:45.840
electric vehicles in Nigeria and I hope
that we can solve that popular because electric

1729
02:24:45.920 --> 02:24:50.760
ve people solve a lot of these
problems. It's yet the initial costs are

1730
02:24:50.799 --> 02:24:54.120
the moment's maybe more expensive, but
I think that's just like that's like the

1731
02:24:54.239 --> 02:24:58.200
volume team. As we do more
volume, we can reduce it and people

1732
02:24:58.239 --> 02:25:03.200
can charge our because I drive around, it's something that we're doing. We're

1733
02:25:03.200 --> 02:25:05.000
also doing the CG. That's why
I said I think the best bet for

1734
02:25:05.120 --> 02:25:09.600
Nigeria is a combination of woods Nangeria, Ding c AG and for boots in

1735
02:25:09.639 --> 02:25:16.680
CG because we have a lot of
gas, and also also making electric veh

1736
02:25:16.719 --> 02:25:22.879
because because we have so on and
we can get our solar panel charge our

1737
02:25:22.920 --> 02:25:24.479
electy vet. So we're looking at
put off them, but we have to

1738
02:25:24.559 --> 02:25:28.760
them. We have to. We
have to be mindful understand the kind of

1739
02:25:28.840 --> 02:25:33.319
country that we're in, so we
don't even have enough power to charge their

1740
02:25:33.360 --> 02:25:39.479
foods. That's the reality in some
places. So it's a balanced so that

1741
02:25:39.520 --> 02:25:45.280
I think the answers that question.
Then it take on about cars three to

1742
02:25:45.440 --> 02:25:52.319
five million there the the globe.
The world is in the global markets at

1743
02:25:52.399 --> 02:25:56.000
the moment, it's sous global.
The cost of crude or the cost of

1744
02:25:56.120 --> 02:26:03.079
the cost of that cost was still
a price at the international markets. And

1745
02:26:03.200 --> 02:26:11.520
they spend this thing on my Twitter
handle or x X timeline before and I've

1746
02:26:11.559 --> 02:26:16.239
reached cat A smoker has about that
body dimensions to you, it's about one

1747
02:26:16.280 --> 02:26:24.760
point five tons a tone of good
steel not pressed, I mean flat sheets,

1748
02:26:26.319 --> 02:26:31.440
it's about one thousand dollars. So
if you need about two tons,

1749
02:26:33.000 --> 02:26:37.719
that's about two thousand dollars. So
on that I'm only the cheats I'm talking

1750
02:26:37.719 --> 02:26:43.559
about with pressing, Yeah you got
you know, it's already two thousand dollars

1751
02:26:43.639 --> 02:26:48.159
already regard less. So and that's
who and even if even if you make

1752
02:26:48.239 --> 02:26:52.399
those things in Nigeria, you have
to buy at the amount because easy to

1753
02:26:52.399 --> 02:26:56.200
go to the steel company in Katina. The best thing would rather sell to

1754
02:26:56.920 --> 02:27:01.120
the best thing wants to buy still
in India at two thousand dollars at international

1755
02:27:01.440 --> 02:27:05.840
market for buying seal that selves to
you, you own to buy at the

1756
02:27:05.920 --> 02:27:11.399
lower amount. So we're still going
too prices at that amount. So when

1757
02:27:11.440 --> 02:27:15.000
you when you get this seal,
you get the engine, you get transmission,

1758
02:27:15.440 --> 02:27:18.399
you get the opposed street, you
get the cheers, you get the

1759
02:27:18.440 --> 02:27:22.479
air and now you have to about
the sifty, the air bag, the

1760
02:27:22.639 --> 02:27:28.120
chassis. You are going to be
seen a ve could a leaning mom,

1761
02:27:33.159 --> 02:27:41.799
it's nine ten thousand dollars realistically,
then you have to now put the cost

1762
02:27:41.920 --> 02:27:46.959
of the could men's the position you're
preaching, expenditure and all those things.

1763
02:27:46.399 --> 02:27:50.200
So basically you just see a ve
could have you at twelve thousand and eleven

1764
02:27:50.239 --> 02:27:56.280
thousand dollars at whatever the dollar races. So my point is this is still

1765
02:27:56.399 --> 02:28:03.680
going to be priced in US because
it's an international market. Okay, just

1766
02:28:03.879 --> 02:28:05.479
just just before I go really quickly
and it's a kind of place, just

1767
02:28:05.680 --> 02:28:09.280
empten seconds be I let me just
say this. You know, we have

1768
02:28:09.440 --> 02:28:11.879
we have this attitude in Nigerism.
It's not the best of people. We

1769
02:28:11.959 --> 02:28:16.959
have this attitude of you know what, anything that is expensive. We are

1770
02:28:16.959 --> 02:28:20.920
so attracted to people do whatever it
takes to have it, factly just to

1771
02:28:22.000 --> 02:28:24.040
have people they are who come fromble
most implant the just to practically their neighbors

1772
02:28:24.159 --> 02:28:28.040
that you see, I have this
if you look at the improvement that have

1773
02:28:28.200 --> 02:28:31.799
gone on in the houses that have
been built from Lakey, you know down

1774
02:28:31.159 --> 02:28:35.760
you know, into towards the met
and all that you can see the m

1775
02:28:35.840 --> 02:28:39.399
of houses that people are building,
people are building service up things and all

1776
02:28:39.479 --> 02:28:45.200
that. I think I want to
think that if you and your your colleagues

1777
02:28:45.239 --> 02:28:46.760
I mean when I say your colleague, I mean the people you have in

1778
02:28:46.840 --> 02:28:52.479
your association who produce, who produce
a moment acture has would look towards the

1779
02:28:54.479 --> 02:29:01.319
the electric tower and try to create
awareness on the advance teach that people would

1780
02:29:01.440 --> 02:29:05.799
have having that solar panel and how
easy it would be if there will be

1781
02:29:05.920 --> 02:29:09.840
a kind of a breakdown course,
no numbers will tell us. Numbers numbers

1782
02:29:09.920 --> 02:29:15.000
stick better than than than the world. If you will give people in number

1783
02:29:15.120 --> 02:29:20.520
times what they stand to see if
they invest that big money in having solar

1784
02:29:20.600 --> 02:29:26.200
panel, I want to think,
as my engineers, people will start having

1785
02:29:26.319 --> 02:29:30.680
that and you will see going forward, well, people build housy that they

1786
02:29:30.760 --> 02:29:33.719
want to rent. They will put
it as one of their marketing tools that

1787
02:29:35.079 --> 02:29:39.479
I have solar panel. I'm not
just building yourself as apartmental have solar panel.

1788
02:29:39.760 --> 02:29:41.559
If you move into my house,
you are home and dry way to

1789
02:29:41.639 --> 02:29:46.079
electric cars. That's just what I'm
thinking, and this is what I would

1790
02:29:46.120 --> 02:29:50.079
just suggest that maybe you and you
know, people in your association would think,

1791
02:29:50.440 --> 02:29:56.040
you know, maybe consider maybe not
immediately, but was in your rest

1792
02:29:56.079 --> 02:30:01.840
future considers looking like it would work. Yes, thanks, and I agree

1793
02:30:01.840 --> 02:30:07.719
with what you said. We're we're
we're out because we're not We've not munchetities.

1794
02:30:07.840 --> 02:30:11.079
So I'm not going to go into
details, but we are doing something

1795
02:30:11.280 --> 02:30:20.559
very big with a commercial bank in
Nigeria and one of the international bodies and

1796
02:30:20.120 --> 02:30:26.000
with the government of a couple of
states in northern Nigeria. We are making

1797
02:30:26.760 --> 02:30:33.959
in Nigeria here electric tricycles, thousands
of it. It's going to be a

1798
02:30:35.040 --> 02:30:39.319
big project. It's a big project
launching thousands of it, and we're going

1799
02:30:39.360 --> 02:30:46.559
to give it to women in the
not to be able to help their families,

1800
02:30:48.280 --> 02:30:54.639
you know. So we're solving the
transition issues and also making those women

1801
02:30:54.799 --> 02:31:00.680
not have to buy the expective,
retroom and arriving. There's a form people

1802
02:31:00.719 --> 02:31:05.120
from one point to another. And
also ensure that these women have are able

1803
02:31:05.200 --> 02:31:09.479
to end money to support their family
and beauty better family, you know,

1804
02:31:09.559 --> 02:31:13.920
and train their children better. So
when I said that we're doing we're launching

1805
02:31:15.040 --> 02:31:20.680
thousands of Elis first face and we're
going to do Judi announcement sometime in October.

1806
02:31:20.120 --> 02:31:24.239
So I mean we hear the details
the partners, the banking partner,

1807
02:31:24.639 --> 02:31:28.239
the state governments and the partner.
But yeah, we chose electric vehicle because

1808
02:31:28.799 --> 02:31:33.920
we and like I said, this
is k tricycle, so electric tricycles.

1809
02:31:35.360 --> 02:31:41.399
We choose electric because we understand that
with the price of petrol going up,

1810
02:31:41.879 --> 02:31:46.159
with the same gamfrastructure not being there, electric is the way to go.

1811
02:31:46.520 --> 02:31:50.879
So in doing that, we're also
because I said it's all volume, we're

1812
02:31:50.879 --> 02:31:54.799
doing about the thousand Arti moments because
of the volume involved. We're also creating

1813
02:31:54.879 --> 02:32:01.559
the charging stations for these women and
it's stricutor next in women in the Northern

1814
02:32:01.639 --> 02:32:07.040
Nigeria. So we're creating the charging
stations because so they can always go there

1815
02:32:07.159 --> 02:32:09.799
and charge. They don't have to
have the epique or this or that because

1816
02:32:09.920 --> 02:32:16.079
I know they realize if I build, if you build the evy and tell

1817
02:32:16.159 --> 02:32:20.239
them, oh, please go take
the ev oh, it would fail.

1818
02:32:20.959 --> 02:32:28.239
So we had to also build the
infrastructure in northern Nigeria for these women to

1819
02:32:28.399 --> 02:32:33.120
be able to charge these electric tricycles
and move people from one point to another

1820
02:32:33.399 --> 02:32:37.760
and any money for themselves and for
their family, and hopefully a levy to

1821
02:32:37.840 --> 02:32:41.639
all the symptoms of poverty, you
know, make things better for them.

1822
02:32:43.760 --> 02:32:48.799
Thank you, good Janie, welcome, Thanks so much, and let's get

1823
02:32:48.879 --> 02:32:58.159
a man, a man, you're
up next quarter. First light. The

1824
02:32:58.239 --> 02:33:01.719
man is getting really first light,
two twenty five dias. Go ahead,

1825
02:33:01.719 --> 02:33:07.719
sir, first light. You've got
a flaw. Okay to that too,

1826
02:33:07.799 --> 02:33:11.920
down, turn on the calculus,
the calculus fast, go ahead and speak,

1827
02:33:11.920 --> 02:33:18.799
sir. Yeah, good evening.
Thank you mister Carlow for this wonderful

1828
02:33:18.000 --> 02:33:22.239
platform. And it's the joy.
Good evening as well. Thank you for

1829
02:33:24.399 --> 02:33:28.879
for the enlightenment. Yeah, I
understand the frustration. Well I'm not in

1830
02:33:28.959 --> 02:33:33.319
Jomini your shoe, but I can't
feel the frustration. We were. It's

1831
02:33:33.319 --> 02:33:37.200
really going to speak about government support, government support, government support, and

1832
02:33:39.319 --> 02:33:43.920
it's you know, it's clear that
it will be very very difficult for you

1833
02:33:43.959 --> 02:33:50.600
know, for any manufacturing entrepreneur and
enjoyer to survive or to grow without some

1834
02:33:50.040 --> 02:33:54.040
from some support food the government,
you know, purchase from the government,

1835
02:33:54.200 --> 02:34:00.040
Sales from the government is usual.
Is to me, is at least of

1836
02:34:00.159 --> 02:34:05.280
the problem from governments, you know, creating and enabling environment, creating uh,

1837
02:34:07.040 --> 02:34:09.639
you know, a cheap raw material. You know, access for example,

1838
02:34:09.799 --> 02:34:13.280
is still. We cannot talk about
manufacturing is really fort to mobile without

1839
02:34:13.639 --> 02:34:20.319
mentioning our still production in Nangeria.
You know that that accounts for modan like

1840
02:34:20.559 --> 02:34:26.040
of an average car has like maybe
over not want two terms of still,

1841
02:34:26.120 --> 02:34:28.799
you know, and that's a major
challenge. And that's why, you know,

1842
02:34:30.719 --> 02:34:33.399
I always think, I always when
I see your Twitter on myself out

1843
02:34:33.440 --> 02:34:35.360
and I feel like, Almo,
this man is really trying doing all these

1844
02:34:35.440 --> 02:34:39.719
things. I mean, these challenges
you understand. So what I want to

1845
02:34:39.840 --> 02:34:43.239
ask is that you know, we
know we have a problem. It's production

1846
02:34:43.319 --> 02:34:48.200
of still. And sincerely, production
of still is not just to step process.

1847
02:34:48.280 --> 02:34:52.799
It's it's it's as really primary still
primary production. It's it goes beyond

1848
02:34:54.520 --> 02:35:01.479
those taking all and putting into all. Hello, it's good beyond taking all

1849
02:35:01.520 --> 02:35:03.760
I'm putting it to one machine that
we get out still. You know,

1850
02:35:03.879 --> 02:35:09.639
it's a series of processes up to
from the from everything to you know to

1851
02:35:09.879 --> 02:35:13.479
the last jake stay, stage stamping
and person that you say and all over

1852
02:35:13.600 --> 02:35:16.920
that. So I want to ask
is there in Nigeria now, you know,

1853
02:35:16.040 --> 02:35:20.879
as a manufacturer, as a cam
manfactorer, is there also because we

1854
02:35:20.000 --> 02:35:22.719
have this perform you gotta ask the
question, sir, Go ahead and ask

1855
02:35:22.760 --> 02:35:26.360
the question. Go ahead and ask
the question. Yeah. The question is

1856
02:35:26.959 --> 02:35:37.000
is is a command factuing business?
But you know, recycling the aspect of

1857
02:35:37.680 --> 02:35:41.719
still maybe it will also help and
also accelerate our answers to you know,

1858
02:35:41.879 --> 02:35:46.520
still still materials in Nigeria. That's
my first question. Second question is you

1859
02:35:46.559 --> 02:35:50.360
got to ask a second question directly, just as question directly sir. What's

1860
02:35:50.440 --> 02:35:54.959
the squ ahead? Yeah, okay, okay, thank you. The second

1861
02:35:54.040 --> 02:36:00.280
question is we have policy and agitation
problems that you mentioned both there is my

1862
02:36:00.360 --> 02:36:05.200
wad is manufacturing as a showing a
jail and which which will also be a

1863
02:36:05.280 --> 02:36:09.920
source of support collect or support for
or this kind of problem? What that?

1864
02:36:09.079 --> 02:36:11.959
What's what's what a strong are they
taking? Are you guys? Are

1865
02:36:13.000 --> 02:36:16.239
they taking I do are you a
member or what CAUSTU are is taking to

1866
02:36:16.840 --> 02:36:22.280
make sure that the stable policies and
legislation that can also support manufacturing in business

1867
02:36:22.319 --> 02:36:28.120
and Enginerous sent you everyway. So
I also companies into recycling on Still,

1868
02:36:28.719 --> 02:36:33.280
yeahs that is that's not our business. You know, it's in that,

1869
02:36:33.399 --> 02:36:37.559
it's in the value key, but
it's not really our business. Our business

1870
02:36:37.760 --> 02:36:43.000
is to assemble cars, manufacturing of
the companies that we need, put it

1871
02:36:43.120 --> 02:36:48.440
into the assembly process and make the
vehicles safe, elegant and durable and affordable

1872
02:36:48.760 --> 02:36:54.159
for our customers. So that's a
very very far part in our value toad

1873
02:36:54.520 --> 02:37:00.120
and no autocompany that I know in
the world is very both that. So

1874
02:37:01.600 --> 02:37:05.920
we have vendos, we have suppliers
that will help us get this. Still,

1875
02:37:07.159 --> 02:37:09.360
that's a stone everywhere. So the
anside is no, it's not really

1876
02:37:09.399 --> 02:37:13.920
what we're trusting. It might be
a profitable business, but that's for somebody

1877
02:37:13.959 --> 02:37:18.559
else. That's the answer to that. The second question is, uh,

1878
02:37:18.959 --> 02:37:22.719
the ISNAMA dream very well? NAMA
is NAMA is doing fairly well, fair

1879
02:37:24.319 --> 02:37:26.639
well. There's always room for improvements, but I think they're fair. They

1880
02:37:26.920 --> 02:37:33.760
try to push for us and I
think they're dreaming. The basic can do.

1881
02:37:33.639 --> 02:37:37.399
Like I said that there's room for
improvements. We try to advise them

1882
02:37:37.440 --> 02:37:41.360
and what to do. What's two
differently there, But they're dream well.

1883
02:37:41.479 --> 02:37:48.159
The the Secretary of NAMA is very
access and he tries his best. So

1884
02:37:48.399 --> 02:37:50.479
yeah, they're helping. We just
need to be closed as to the governments.

1885
02:37:50.559 --> 02:37:58.040
We need to let the governments see
that supporting the automotive industry is automatically

1886
02:37:58.159 --> 02:38:03.280
just prove an aerial GYDP and easily
created a lot of jobs. That's what

1887
02:38:03.440 --> 02:38:07.440
I think we need to do and
it's normally left to the schools of the

1888
02:38:07.440 --> 02:38:13.680
association. We as stickles as in
the association have to also join them doing

1889
02:38:13.719 --> 02:38:16.639
that. I think that's more things
we've been doing. We've not really we've

1890
02:38:16.680 --> 02:38:20.680
not really done that very well.
This year I'm going forward, I want

1891
02:38:20.719 --> 02:38:24.280
to be very very involved in doing
that. I thank you. I will

1892
02:38:24.440 --> 02:38:28.879
suggest an a play for you and
other kind of factuals that will be on

1893
02:38:30.000 --> 02:38:35.239
this platform. Because if we see
somebody as a question about popularity in Nigeria,

1894
02:38:35.360 --> 02:38:41.639
and I think that's what has helped
brands as Steven out certain angeria is

1895
02:38:41.200 --> 02:38:46.079
detainment industry as well. Maybe you
can I have not seen any in Najeria

1896
02:38:46.159 --> 02:38:50.440
movie bbja is I don't know that. Mostly in Najeram movie. The one

1897
02:38:50.559 --> 02:38:54.399
was even very popular. I was
on number one for a couple of weeks.

1898
02:38:54.719 --> 02:38:56.879
Okay, that's nice then, because
that would we don't looking on when

1899
02:38:58.000 --> 02:39:03.159
no nice, you said, mister
Jay, I'm more interesting. But sometimes

1900
02:39:03.159 --> 02:39:07.600
when I watch I was just like
these a Jagon Jack going on all these

1901
02:39:07.760 --> 02:39:11.959
movies. You know, sometimes you
just yeah, I don't the suggestion and

1902
02:39:11.200 --> 02:39:15.440
I'm gonna look glad something like that. It's already. Yeah, we were

1903
02:39:15.479 --> 02:39:18.239
aware a couple of movies. Where
were the stars wearing one that movie?

1904
02:39:18.239 --> 02:39:22.280
I can't Boddy mean now we've been
like two or three movies and two of

1905
02:39:22.319 --> 02:39:26.040
them were number one for a while. The stars number one for our two

1906
02:39:26.079 --> 02:39:28.559
weeks or so one week, you
know. And also, mister Joy,

1907
02:39:28.639 --> 02:39:31.840
also people have to stick. They
might see it and not know it's not

1908
02:39:33.159 --> 02:39:35.440
that's a nothing. You might be
there and they might see chair. So

1909
02:39:35.639 --> 02:39:39.799
ken, ken, ken, you've
got the floor. Okay, thank you

1910
02:39:39.959 --> 02:39:43.959
very much, mister Carl. Thanks
again, mister Joey for being here.

1911
02:39:46.200 --> 02:39:52.680
I hear the passion in your voice. I hear I hear the love for

1912
02:39:52.319 --> 02:39:56.520
for your trick what you do.
And I mean as you've heard everyone speak

1913
02:39:56.600 --> 02:40:01.120
today, you you can you can
hear that then Urians love their country.

1914
02:40:01.680 --> 02:40:05.479
And you know you touched on a
lot of things, quite important things,

1915
02:40:07.319 --> 02:40:13.559
talking about factors of label and how
that you affects your business and audio analysis

1916
02:40:15.799 --> 02:40:20.879
don't And one thing that you touch
which is of vital importance is the ease

1917
02:40:20.920 --> 02:40:24.200
of doing business. You know when
when most people in government talk about is

1918
02:40:24.239 --> 02:40:31.079
of doing business? What what they
always to think? It means bad that

1919
02:40:31.239 --> 02:40:35.639
that phrases of doing businesses is about
starting a business? How easy is it

1920
02:40:35.719 --> 02:40:41.239
to start a business? But it's
beyond that. Is of doing business is

1921
02:40:41.319 --> 02:40:45.280
a is a metric that is corpulated
using different factors. And you know there's

1922
02:40:45.360 --> 02:40:52.360
also components getting the construction permits and
getting electricity like like you said rightly,

1923
02:40:52.959 --> 02:40:58.239
and you know, registring properties,
getting credits, a certainty of contracts,

1924
02:40:58.559 --> 02:41:03.200
trigging across the borders. I mean, it's it's it's a lot of it's

1925
02:41:03.200 --> 02:41:09.479
a lot of components and it's quite
difficult. I know it's still a company

1926
02:41:09.600 --> 02:41:15.200
like yours in the material today with
all the mirald of challenges we have spicially

1927
02:41:15.280 --> 02:41:20.520
around instant jobs and and all of
the problems. And it's easier for these

1928
02:41:20.559 --> 02:41:24.920
sort of ways and the and the
pay starts to easily scale because they can

1929
02:41:26.040 --> 02:41:30.399
be in their bedroom and run a
digital company. They can scale digitally.

1930
02:41:31.159 --> 02:41:33.959
But for you that require boots on
the ground, it's quite difficult. And

1931
02:41:35.520 --> 02:41:39.959
one way, one short way that
at least would help you grow is to

1932
02:41:41.200 --> 02:41:46.159
ensure that that ease of doing business
environment is conducive for businesses to try.

1933
02:41:46.399 --> 02:41:48.920
I mean, if you look at
the Dangletar refinery, for example, that

1934
02:41:48.000 --> 02:41:54.399
man had to had to construct his
own power plants dedicated for that part,

1935
02:41:54.479 --> 02:42:00.399
for that for that complex's sourcing us
from somewhere in the mandera that they gated

1936
02:42:00.520 --> 02:42:05.079
for that plant, because he knows
that none of those that kind of critical

1937
02:42:05.399 --> 02:42:09.040
facility to come from the government.
I would like to add to you quickly,

1938
02:42:09.079 --> 02:42:11.719
be a true I don't I don't
know the man for too long,

1939
02:42:11.040 --> 02:42:16.760
consul the amount of time we have
left. If you've considered the industrial layout

1940
02:42:16.840 --> 02:42:22.280
in KGr, because I know of
setting companies there that are currently powering their

1941
02:42:24.079 --> 02:42:28.200
their facilities using the gas pipeline using
across that place, were exercially. What

1942
02:42:28.399 --> 02:42:33.319
is guys did was and they looked
at their cost. Of course using Disoo,

1943
02:42:33.479 --> 02:42:37.479
running Dizoo is quite expensive. And
it discovered that we have an advantage

1944
02:42:37.520 --> 02:42:45.319
because there's a gas going across our
complex industrial companients. So they discussed with

1945
02:42:45.399 --> 02:42:48.440
you know, the gas pipeline,
and we're able to sign a gas seal

1946
02:42:48.559 --> 02:42:56.239
agreement and tapped in into those into
that pipeline. But APA and equipment called

1947
02:42:56.319 --> 02:43:01.719
premiss, which is an equipment that
helps to reduce the pressure of the gas

1948
02:43:03.200 --> 02:43:05.040
into your facility. And then all
you need to do is to buy a

1949
02:43:05.200 --> 02:43:11.319
gas generator. So and and I
mean, we know gas is cheaper way

1950
02:43:11.680 --> 02:43:15.959
when when when compared to this and
these facilities they are running right now one

1951
02:43:16.079 --> 02:43:20.239
hundred percent on gas away from the
bridge and they are and they are and

1952
02:43:20.280 --> 02:43:26.959
they're running their business. I wish
and maybe you can and okay if that

1953
02:43:26.159 --> 02:43:33.040
is possible, Okay, So I
don't know that's you need. Okay,

1954
02:43:33.200 --> 02:43:41.920
So hello, go ahead, I
can't hear you. Go ahead, okay.

1955
02:43:41.000 --> 02:43:46.920
So we we have been able to
solve some of our power problems.

1956
02:43:48.680 --> 02:43:54.639
We currently use gas where we where
I think we have to fact tries.

1957
02:43:54.159 --> 02:43:58.120
I don't want to go to want
into details because some of the details are

1958
02:43:58.440 --> 02:44:03.959
tracing critics to bring our cost of
production down. So I don't go to

1959
02:44:05.079 --> 02:44:09.600
more details because I don't always listening. But just know that as at not

1960
02:44:11.079 --> 02:44:16.639
we solved that problem. Well,
we have a relatively good price for electricity.

1961
02:44:18.680 --> 02:44:22.440
Could be frustrating here and there because
it's not regular butt, but in

1962
02:44:22.920 --> 02:44:28.520
overall is fair. It's fine compared
to what is applicable even also in the

1963
02:44:28.600 --> 02:44:33.000
world. So that's fine. That's
the asert to that. So but talking

1964
02:44:33.040 --> 02:44:37.200
about ease of doing business, yeah, you mentioned something else about ease of

1965
02:44:37.280 --> 02:44:41.639
the business. Yes, it's one
of the biggest problems are And I can't

1966
02:44:41.719 --> 02:44:46.159
I can't go on and on because
I had not only me, my entire

1967
02:44:46.440 --> 02:44:56.440
industry, nagera automotive industry had a
big problem with the last administration. We

1968
02:44:56.559 --> 02:45:01.840
had a big problem. We complained
to everybody and anybody in the administration to

1969
02:45:01.000 --> 02:45:07.280
give VP to the Minister of Trade
and Investment, to the Minister of Finance.

1970
02:45:07.719 --> 02:45:11.879
But now we have a new administration. I would know what just you

1971
02:45:11.959 --> 02:45:15.639
know, I would just let us
hope that things are going to be different.

1972
02:45:15.719 --> 02:45:18.680
I spoken to a couple of them
and they promise those that things would

1973
02:45:18.680 --> 02:45:20.159
be different, because, like I
said earlier, some of the things that

1974
02:45:20.239 --> 02:45:26.000
we went through we're just not necessary. It was just it was just it

1975
02:45:26.200 --> 02:45:31.200
just should not happen. You know. We spoke to our dig Will admitted

1976
02:45:31.319 --> 02:45:33.600
that a lot of the things should
not have happened. And we're hoping that

1977
02:45:33.920 --> 02:45:39.840
the new administration, and we're trusting
them that they would they would be able

1978
02:45:39.920 --> 02:45:41.360
to make things a lot better for
us. Okay, let me let me

1979
02:45:41.440 --> 02:45:46.879
just touch your one topic. You
need a license, you need you need

1980
02:45:46.920 --> 02:45:50.520
you automotive license to say, well
that was an idea. You'll know that

1981
02:45:50.600 --> 02:45:54.680
you cannot just be copying the money
and when starts and being vehicles, right,

1982
02:45:54.879 --> 02:46:00.200
you need to get a license and
the license for reasons pass them,

1983
02:46:00.319 --> 02:46:05.600
which I understand is only valid for
one year, which is you know,

1984
02:46:05.799 --> 02:46:11.280
okay, fine, But the problem
is that as at the last time,

1985
02:46:11.840 --> 02:46:16.559
the new administration is there where opening
things are different. As a last time

1986
02:46:16.879 --> 02:46:24.360
people it took people between four months
to eight months to renew their license.

1987
02:46:26.680 --> 02:46:30.760
So basically it's like you have a
bank, you need a banking license from

1988
02:46:30.959 --> 02:46:35.959
the central Bank and where you're banking, and you have you need every year

1989
02:46:35.520 --> 02:46:41.280
and when you apply for renewal,
which should take only two weeks according to

1990
02:46:41.760 --> 02:46:46.799
the meetings they've admittals and the rest, it takes about four to eight months,

1991
02:46:46.879 --> 02:46:52.360
which means you are technically out of
business between four to eight months for

1992
02:46:52.479 --> 02:47:01.079
that year. It happened numerous times. Last time, I bet my license

1993
02:47:01.159 --> 02:47:05.760
currently access. It's not going to
expire to some time. Hopefully when it

1994
02:47:05.879 --> 02:47:11.639
expires, you will see same problem
with new new governments. We're hoping that

1995
02:47:11.879 --> 02:47:13.479
because those are some of the problems
we have. Why is it delve no

1996
02:47:13.600 --> 02:47:18.520
reason defire those This was from what
this table for weeks. That's the reason

1997
02:47:20.520 --> 02:47:22.319
some okay, listening yours come to
in the factors to do inspection. So

1998
02:47:22.399 --> 02:47:26.079
people will not just leave their table
to come for the inspection for two or

1999
02:47:26.120 --> 02:47:33.680
three months. Why nothing they just
did? That's nothing, no reason.

2000
02:47:35.000 --> 02:47:39.200
And if you don't have the license, you cannot legally assemble and you can

2001
02:47:39.319 --> 02:47:46.600
also legally imports. So you are
just talk But why is it one year

2002
02:47:46.719 --> 02:47:50.600
license? If you're a factory CC
you already look why one year? They

2003
02:47:50.719 --> 02:47:58.760
said? They said that he will
through a show that those that are trying

2004
02:47:58.040 --> 02:48:03.079
to get eat the business. Basically
those that are not compliance. Those that

2005
02:48:03.239 --> 02:48:13.200
are not serious will need to come
for revalcation every year. I get your

2006
02:48:13.280 --> 02:48:15.680
I get your points, because the
struth of the matter is that you don't

2007
02:48:15.719 --> 02:48:18.680
we know the popular props myself.
You know, seeing a couple of companies,

2008
02:48:18.879 --> 02:48:22.520
yet we know that Okay, those
ones, they have the factory the

2009
02:48:22.559 --> 02:48:24.520
factors. Why we're posting our vacancy
nami there so you know that we are

2010
02:48:24.600 --> 02:48:28.479
there. We don't need why.
I agree that there are some companies that

2011
02:48:28.959 --> 02:48:33.760
may have the license and may just
get it for the because their license has

2012
02:48:33.840 --> 02:48:39.280
some some bigs, you know,
so they may want to just get it

2013
02:48:39.440 --> 02:48:41.440
and not to use it, so
they will be forced to go back every

2014
02:48:41.559 --> 02:48:46.239
year to get it. We've tried
to argue that we're also movols, that

2015
02:48:46.479 --> 02:48:50.000
we've show new capacity. Can you
exclude us from this one year? Well,

2016
02:48:50.239 --> 02:48:52.879
they haven't done that, But maternally
I didn't have a problem. You

2017
02:48:52.920 --> 02:48:58.760
can come and revalutate manufactory. I
don't have any shootings. But don't we

2018
02:48:58.000 --> 02:49:03.559
fight, don't waste time, don't
do it at the right time, Come

2019
02:49:03.840 --> 02:49:07.639
check, validate, and let's move
home. Well for me, you,

2020
02:49:07.760 --> 02:49:09.719
I'm a young guy. I always
give them problems. I always I've always

2021
02:49:09.760 --> 02:49:13.879
calling people calling my own is a
lot faster. You know what you don't

2022
02:49:15.040 --> 02:49:18.399
do We don't have to. We
don't have you don't have to stay six

2023
02:49:18.639 --> 02:49:22.879
entrepreneur before you do it the right, gotcha. I mean it's just I

2024
02:49:22.959 --> 02:49:26.600
mean, this is we're just getting
all this information. I just think one

2025
02:49:26.760 --> 02:49:31.040
year if you were brand new.
But once you show production capacity or you

2026
02:49:31.079 --> 02:49:35.600
show that you're exporting maybe two years
under graduated skill, that maybe three years.

2027
02:49:35.639 --> 02:49:37.159
So that was an incentive for you
to stay in the game. Yeah,

2028
02:49:37.239 --> 02:49:39.520
and get your license extated. All
right, Well, I was coming

2029
02:49:39.520 --> 02:49:43.200
to the air. We got about
ten minutes more. Let's get three folks

2030
02:49:43.319 --> 02:49:46.159
in a GI just three folks that
there was ended up. Got Hawk better

2031
02:49:46.399 --> 02:49:50.360
and Sam, so Hawk, let's
go first, Hawk, Hoogan, this

2032
02:49:50.440 --> 02:49:52.159
CFR go ahead. So let's go
to the point. If you don't mind,

2033
02:49:54.120 --> 02:49:58.079
everyone nice hear me? Yes,
Lord and Claire. Okay, Yeah,

2034
02:49:58.120 --> 02:50:03.319
thank you, thank you, thank
you so much. Mistacter you out

2035
02:50:03.360 --> 02:50:09.319
to be. I've listened to your
uh you know, speeches since more persons

2036
02:50:09.479 --> 02:50:15.680
earlier today. Thank you for what
you do in a difficult environment like Nigeria.

2037
02:50:15.840 --> 02:50:20.159
Thank you for your tenacity and your
insights. I want to talk a

2038
02:50:20.239 --> 02:50:22.159
little bit. What I want to
talk about is kind of what I call

2039
02:50:22.239 --> 02:50:26.280
the political economy because at the end
of the day, when we talk about

2040
02:50:26.319 --> 02:50:30.920
the economy, the business of what
you're doing, it comes down back to

2041
02:50:31.879 --> 02:50:35.959
leadership or politics or you know,
the how things have been done in the

2042
02:50:35.319 --> 02:50:39.559
in the country and that affects you
know, what you're able to do,

2043
02:50:39.799 --> 02:50:46.760
what you're able to do, and
for example the issue of electricity, for

2044
02:50:46.879 --> 02:50:54.760
example, how that you know,
how that affects the business. And this

2045
02:50:54.959 --> 02:50:58.719
is my this is my this is
my personal believed. I believe that there

2046
02:50:58.760 --> 02:51:03.600
are some that they are called an
elite or cab house who are kind of

2047
02:51:03.719 --> 02:51:09.920
there the many of them in the
country and they don't have the natural interests

2048
02:51:09.920 --> 02:51:13.559
of the country at hand at their
India arts. They just want to make

2049
02:51:13.639 --> 02:51:16.639
money, a lot of money,
exploit money, and they don't want to

2050
02:51:16.639 --> 02:51:20.280
develop the country. And I believe
that this is part of the reason why

2051
02:51:22.280 --> 02:51:26.520
Nigeria is where it is today because
I'm how you explained, for example,

2052
02:51:26.600 --> 02:51:33.319
that Nigeria can give people like the
country like nigail being in power and we

2053
02:51:33.440 --> 02:51:35.479
hardly I mean as some of them
as don't have to the f our electricism.

2054
02:51:35.680 --> 02:51:39.559
Nigeria doesn't have that. How do
you explain that since sixty three years

2055
02:51:39.600 --> 02:51:45.200
after independence in the city three years
now, you're almost doing the circle around

2056
02:51:45.239 --> 02:51:48.200
the same thing over and over again. So it is not that it is

2057
02:51:48.239 --> 02:51:52.680
not that the resources are not there. It is not a Nigeria's And how

2058
02:51:52.799 --> 02:51:56.200
smart the one of the most Bilian
people in the world is because some of

2059
02:51:56.280 --> 02:52:01.799
these few elites are They're controlling things, making a lot of money and the

2060
02:52:01.760 --> 02:52:07.159
rest of the countries is getting poorer. So I want to just encourage,

2061
02:52:07.319 --> 02:52:11.040
you know, many of us who
are listening here to to get engaged in

2062
02:52:11.360 --> 02:52:13.920
politics, not just at the national
level, but also at a look at

2063
02:52:15.000 --> 02:52:18.639
level because at the end of the
day, politics affects even even even the

2064
02:52:18.680 --> 02:52:22.000
business right ease of doing business.
Why would it take your eight months,

2065
02:52:22.040 --> 02:52:28.319
for example, to just renew your
your your license, because because somebody is

2066
02:52:28.399 --> 02:52:31.479
expecting that, you know, baby, you have to give them money for

2067
02:52:31.559 --> 02:52:33.479
them to do that, and they
are eight months in the life of a

2068
02:52:33.559 --> 02:52:39.040
business. It's it's a talented has
almost a three quarters i think three and

2069
02:52:39.079 --> 02:52:43.479
three collars at three almost nine months. So I just wanted to get involved.

2070
02:52:43.879 --> 02:52:48.959
We've had a very contentious elections to
going on. Well, I don't

2071
02:52:48.959 --> 02:52:52.840
think we should take our eyes off
the mark because we see that hour the

2072
02:52:52.959 --> 02:52:58.680
leadership of the country affects our the
country develops. We spoke about America,

2073
02:52:58.200 --> 02:53:03.159
the many wet, then we develop
the United States or entrepregners, but the

2074
02:53:03.319 --> 02:53:05.959
government or the day give them the
right hand of philosophy, they helped them,

2075
02:53:07.520 --> 02:53:09.399
give them their environment, but which
were able to develop the country.

2076
02:53:09.559 --> 02:53:13.559
Spoke a lot about NASA, about
intel of a NASA, our Silicon Valley,

2077
02:53:15.200 --> 02:53:18.600
and now that helped America to propel
and become a prosperous country. So

2078
02:53:18.920 --> 02:53:24.559
but our leadership, we don't have
the y as the leadership problem spoken about

2079
02:53:24.600 --> 02:53:28.479
that we ever ready are spoken about
that and we seconded out their leadership provops

2080
02:53:28.479 --> 02:53:31.559
it now because the right people are
not they are the right people are now

2081
02:53:31.639 --> 02:53:35.559
allowed to be there, you know, because the few people who are there

2082
02:53:35.680 --> 02:53:39.559
want to keep everything to themselves.
So we have to keep and getting the

2083
02:53:39.639 --> 02:53:43.600
system because I think that's that's the
only way for you know, to someone

2084
02:53:43.680 --> 02:53:48.360
like you, us other entepregnouns to
be able to make to be successful because

2085
02:53:48.479 --> 02:53:52.840
they're I mean, if if you
if you for example, if you will

2086
02:53:52.920 --> 02:53:58.840
I think helping innocent mottos. For
example, they're placing on order to be

2087
02:54:00.040 --> 02:54:03.399
their cars. You know you're able
to scale. So I just want us

2088
02:54:03.399 --> 02:54:07.600
to keep involved. I think it's
very important for to lose sight of what

2089
02:54:07.840 --> 02:54:09.440
is going on, to keep engaging
the system, to keep pushing back to

2090
02:54:09.559 --> 02:54:15.799
keeping the idea. Yeah, so
that entrepreneurs like yourself, how many others

2091
02:54:15.879 --> 02:54:18.840
can be able to thrive because I
don't. It doesn't make sense to me.

2092
02:54:20.040 --> 02:54:22.799
While the country we have the richest
man in Africa, at the same

2093
02:54:22.879 --> 02:54:30.360
time we have the porest the reportest
capita in the world. Okay, whole

2094
02:54:30.440 --> 02:54:33.399
capitals as a contradiction. Yeah,
thank thank you very much all you do.

2095
02:54:33.879 --> 02:54:39.000
Thank you had Mike keep engaging the
system. Thank you appreciate that.

2096
02:54:39.000 --> 02:54:43.159
I think basically give your advice,
engage and engage and get that agree with

2097
02:54:43.280 --> 02:54:46.239
him. Yeah, so let's just
go to let's go to Bettel Betel.

2098
02:54:46.360 --> 02:54:52.399
You've got the floor real quick.
Yes, thank you, great things to

2099
02:54:52.520 --> 02:54:56.440
you. So I would be first
of all, shoot a shot. I

2100
02:54:56.520 --> 02:55:00.360
have to submissions our shooting shot and
I'll ask my questions. Please I cleve

2101
02:55:00.399 --> 02:55:09.239
your indugence. Okay, so enjoy
Grettist to you. So I I work

2102
02:55:09.280 --> 02:55:13.719
at or I'm the CEO of Tells
Impact Consulting. It's a fact that I

2103
02:55:13.840 --> 02:55:18.799
found it to support the research and
innovational landscape in Nigeria. We kind of

2104
02:55:18.879 --> 02:55:24.600
observed that the innovation drift in Nangeria
is just sitting towards the service sector and

2105
02:55:24.719 --> 02:55:28.000
there's this gap between No, you're
gonna ask a question directly, so just

2106
02:55:28.159 --> 02:55:31.479
go ahead and appen. No,
no, I have I have guys waiting.

2107
02:55:31.639 --> 02:55:33.559
Go ahead and ask a question directly, sir, Go ahead. All

2108
02:55:33.639 --> 02:55:39.399
right, So you talked about union
lag and what you're doing in unil like

2109
02:55:39.520 --> 02:55:43.120
it's quite of interest to me and
also because that's my space, so I

2110
02:55:43.159 --> 02:55:46.719
don't I would appreciate your opportunity to
this cause for that with you what you

2111
02:55:46.840 --> 02:55:50.120
did want to learn from your model? So now my question is you work

2112
02:55:50.159 --> 02:55:54.200
in this manufacturing space. How has
the skill match been for you? Like

2113
02:55:54.440 --> 02:55:58.280
people coming out from our universities and
you employing them has been the skilled match?

2114
02:56:00.040 --> 02:56:05.639
And what do you think is the
gap around our university is participating in

2115
02:56:05.760 --> 02:56:11.799
this sector? How would the research
feeds into production and manufacturing just like what

2116
02:56:11.959 --> 02:56:15.600
you do? What do you think
because I think research is an important element

2117
02:56:15.680 --> 02:56:18.639
in this will space because as small, the more the fact that you niviate,

2118
02:56:18.799 --> 02:56:24.040
the more you can win the market
space. Thank you, okay.

2119
02:56:24.200 --> 02:56:31.399
Than they have been presently surprised by
the people that have met, even the

2120
02:56:31.559 --> 02:56:35.760
not only young people, even the
professors, the older ones. And it's

2121
02:56:35.760 --> 02:56:41.440
been very brilliant, a lot of
Nigeria and say engineers and sciences that,

2122
02:56:41.520 --> 02:56:46.319
like I said, very very brilliant. So what for there's a bit of

2123
02:56:46.440 --> 02:56:50.239
gap. What I dontice is that
sometimes you don't believe that. So I

2124
02:56:50.719 --> 02:56:54.479
have to do a lot of mentory. I have to let people know that

2125
02:56:54.760 --> 02:57:01.760
there's no differends between us and you
know, the Pions or the Americans doing

2126
02:57:01.799 --> 02:57:03.319
this, conspecially if you have to
good enough. I have to remind them

2127
02:57:03.760 --> 02:57:07.239
that if you leave this Nigeria who
are going to work in a factory day,

2128
02:57:07.440 --> 02:57:11.000
they're going to be the one producing
this thing. So we can actually

2129
02:57:11.040 --> 02:57:13.799
do the R and DA ourselves and
make these things, you know ourselves.

2130
02:57:13.840 --> 02:57:18.280
So in terms of the capacity and
the intellectric capacities, we have all the

2131
02:57:18.360 --> 02:57:22.520
kate who are doing it, and
there there's a gap, there's an infrastructural

2132
02:57:22.600 --> 02:57:26.840
gap. So we don't have some
more the equipments, which is why we've

2133
02:57:26.840 --> 02:57:31.559
set up television center to bring all
the equipments needed to get to our PRILLIOND

2134
02:57:31.600 --> 02:57:37.079
guys working. So I don't think
we just we need to do more of

2135
02:57:37.159 --> 02:57:41.440
what we've done, even we need
to do more in other pieces, Like

2136
02:57:41.719 --> 02:57:43.920
it's not it's not direct. It's
gonna take some time. They're gonna maybe

2137
02:57:45.200 --> 02:57:48.760
ten years, but I'm sure very
soon we're going to start repeating the fruits

2138
02:57:48.000 --> 02:57:52.040
of work we've done, our magerias, going to start making a lot of

2139
02:57:52.159 --> 02:57:58.399
things our own self. So that's
it. I really like to prot security

2140
02:57:58.520 --> 02:58:05.760
for them. Yeah, you'll follow
you follow me out. Excellent, great

2141
02:58:05.840 --> 02:58:07.719
top guys, great topic. You're
welcome, sir, welcome. All right.

2142
02:58:07.760 --> 02:58:13.799
So so we've just basically been speaking
to just hando three hour discussion with

2143
02:58:13.959 --> 02:58:20.239
that Agil Lua Tobi, the chairman
CEO of NORD. I have lent a

2144
02:58:20.319 --> 02:58:24.760
lot, and I know you all
listen have lent as well, right because

2145
02:58:24.799 --> 02:58:26.280
so many things we've think it for
granted, we just had the policy,

2146
02:58:26.600 --> 02:58:31.159
we wanted this, we've tried to
distill this posit down to the guys that

2147
02:58:31.239 --> 02:58:37.000
have got their hands dirty quote unquote
on the field of entrepreneurship in Nigeria.

2148
02:58:37.360 --> 02:58:41.200
And what we've heard is the earlier
encouraging. But what we've also heard is

2149
02:58:41.280 --> 02:58:45.200
that it's a solution. We haven't
had despair. We've heard this is the

2150
02:58:45.319 --> 02:58:48.639
problem and this is how we can
fix it. And it's not it's not

2151
02:58:48.760 --> 02:58:52.559
talking about give me billions. It's
talking about past this policy, do this,

2152
02:58:52.879 --> 02:58:56.680
do that, and I will do
this and not just him his sub

2153
02:58:58.600 --> 02:59:03.920
committee manifested actuals because what he's saying
affects also other manufacturers. If we can

2154
02:59:05.000 --> 02:59:09.239
do this policy, it would unlock
this job, it will unlock this GDP

2155
02:59:09.399 --> 02:59:13.000
growth. So I think it's something
we should, you know, push as

2156
02:59:13.040 --> 02:59:18.719
a government to get things working.
Enough of the talk. We've been a

2157
02:59:18.799 --> 02:59:22.600
bit slow. Let's get things going. That's the world I want to see

2158
02:59:22.639 --> 02:59:26.360
for it it. So thank you
so so much for staying with us.

2159
02:59:26.479 --> 02:59:31.440
I appreciate you. Thank you so
so much. And if we call you

2160
02:59:31.479 --> 02:59:33.520
again, please come back, sir, and I applaud you on your team

2161
02:59:33.639 --> 02:59:37.799
at NORD. Thank you so much, guys, Thank you very much.

2162
02:59:37.840 --> 02:59:39.920
Are doing great great, we are
doing so many great things, you know,

2163
02:59:41.440 --> 02:59:43.479
so many great things. Thank you, so I appreciate it. Sir.

2164
02:59:43.799 --> 02:59:46.159
All right, guys, I'll let
you guys go home and enjoy the

2165
02:59:46.559 --> 02:59:50.000
rest of your weekend. Thank you
so much for joining us. We'll see

2166
02:59:50.000 --> 02:59:54.479
you next week Wednesday, Sunday,
seven pmost African time. On that note,

2167
02:59:54.840 --> 02:59:54.760
bye, thank you guys.