THISDAYonline

How Femi Otedola succeeds in staying in the background despite his stupendous wealth, enormous clout and total dominance of a vital sector of the downstream oil sector is as much of a mystery as his rapid rise in the oil industry. Neither the Otedola personae nor the Zenon phenomenon (the 5-year old start-up oil firm, which posts billions of Naira as turnover, yearly,) is well known outside the greasy world of the downstream oil sector. Yet, Otedola's Zenon supplies the diesel that keeps the machinery of nearly all the blue chip manufacturing firms in Lagos - Dangote Group, Cadbury, Coca Cola, Nigerian Breweries, MTN, Unilever, Nestle, Guinness, to a mention a few - running. Should he stop importation of diesel today, then the manufacturing sector will be in deep trouble. At least, until a supplier who would not sell at cut throat prices is found!

But interestingly, Otedola owes his dramatic rise - from a moderate government contractor to what both friends and foes in the oil industry call 'The Emperor' - to the epileptic services the national utility, NEPA, has continually provided the manufacturing sector for years.

With NEPA's inefficiency increasing rather than decreasing, even small-scale businesses are beginning to rely on Otedola's diesel more than ever.

But ascribing Otedola's meteoric rise to NEPA's endless inequities alone would be doing a great disservice to the business savvy, foresight and almost mercurial business instinct that launched him into the big league. The young man is no doubt intelligent and focused. Rarely seen in public but his hand is visible for all to see by the success of his investments.

Highly secretive, and seen as a smooth and slippery operator, the ruthless efficiency with which he dominated the diesel business has been likened to the way Aliko Dangote stamped his imprint in the Sugar business years back.

Before Otedola delved into the world of diesel products, the better known Otedola was his father, Sir. Michael Otedola, the simple, unassuming and almost reluctant politician that moved from the shadows to occupy the bitterly contested Lagos State Government house after winning elections on the platform of little fancied National Republican Convention in 1991.

The younger Otedola's bid to earn a name for himself began sometime in 1999 after the inspiration for Zenon struck him, right on the stairs of his residence. A truck belonging to an oil firm had just driven into his residence to supply diesel many days after he placed the order.

"I was coming down the stairs of my house. I saw the truck in my compound, very old truck, littering my compound with engine oil dropping from its engine. Then I stood there, looked at the truck for a while and I said to myself, come on! I can do this business and clean it up," Otedola, who rarely grants interviews, told THISDAY during a not so recent interview.

"So I started my study, getting information about the business and I discovered that the demand for diesel was a huge one," Otedola told THISDAY some years ago. So, I started buying from people that had tanks and they would always frustrate me. I get an LPO from Coca Cola in the morning at may be N18 per litre and by the time I am ready to deliver they will tell me the price had gone up. It continued, at a point I said no, no this can't continue. I knew I just had to look for money and build my tanks, and own my trucks. I did a projection and I saw that it was going to cost me about N1.3 billion. I saw a lot of lapses in the business that I knew I was going to capitalise on. I noticed that the major marketers were sleeping. They have been in the business over the years, they have not seen any competition and so they were so relaxed. And I told myself yes, this is it. This is the opening I can tread on. And I prayed to God. I talked to a few banks and I was able to raise the money. And of course a lot of people were saying how can this boy just enter this market, he will not survive. So I started. I now bought good trucks, built the tanks and went to NNPC to get allocation. And within the next 12 months I had taken over the entire market. I had the industry in my hands because of the service we rendered. The Managing Director of Coca cola, WAPCO etc could just call me up to say they wanted diesel. We were working 24 hours loading diesel in the trucks and by 9.0 clock in the morning the diesel is there. We recruited the best hands in transport industry with the co-operation of NUPENG. Of course all the major marketers have been spoon-fed over the years by government. They sit down, and government brings the diesel into their tanks at N20.60k credit. But we had to pay our own money. There was a particular time that NNPC held on to my N1 billion for seven months they did not give me the product. But luckily government increased prices and said people could import and I started importing."

The last five years of Otedola's 40 years has been his busiest. Within that time he's cornered the largest chunk of the demand for diesel nationwide (90%, he says). Last year, he offered Marca $22 million dollars for its depot, which is about N2.8 billion. It was an offer too tempting for Marca to turn down. They accepted it and handed their vast depot to him. According to Otedola then, the purchase was motivated by his desire to expand Zenon's holding capacity.

"We bought it to add to our depot so that we can hold huge reserve of products and maintain a steady line of distribution." But that is not all. To strengthen his distribution chain he commissioned hundred brand new trucks (that he purchased for N1.3 billion) and a acquired a massive flat bottom bunker vessel with a storage capacity of 16, 000 metric tonnes of diesel for 6.8 million dollars.

Zenon owns four cargo ships. One of them is just one of four in the world and the first of its kind in Africa. He has invested about N15 billion in the downstream oil sector since deregulation and has even declared his intention to going into PMS(petrol).

The company boasts of a total storage capacity of close to 147,000 metric tonnes of diesel making it the biggest independent marketer with the largest single storage capacity in the country. And according to official statistics Otedola's Zenon is the fourth biggest foreign exchange user. In the last one year he spent over 600million dollars in the importation of diesel and kerosene in the country.

Impressed by the points Otedola has garnered in so short a time, former Group Managing Director of NNPC Engr. Funsho Kupolokun declared at the commissioning of Zenon's brand new trucks in April, that the company was indeed the company to beat in the downstream sector.

But getting to the top was tough. In the first year Zenon sustained a N20million naira loss. But when things picked up two years later opposition thickened.

"People just started writing petitions to the President that Zenon was selling all the diesel in Nigeria, and how come one company was allowed to do that," he said.

But Otedola weathered the storm. Thanks to his very deep pocket with which he supports both social and political causes.

He donated N100m to the Obasanjo campaign aside from the huge sum he committed to his presidential primaries and he also contributed to the campaign coffers of about a dozen governors. He donated N25million to the Ecunemical Centre and he committed N200m for the sponsorship of 1500 students in the Epe division in Lagos.

He owns Atlas Shipping Agency, Swift Insurance, FO Properties Limited, FO Transport. In London Otedola owns two magnificent buildings said to be worth 23 million pounds on Bishop Avenue, said to be one of the most expensive areas in the world.

In Lagos Julius Berger is building for him a mansion which cost has been estimated to be N1.4 billion. In Abuja his residence is said to be one of the most expensive around. And he has numerous properties other properties scattered all over Ikoyi and Victoria Island.

Otedola has a reputation as a heavy spender and he says, often, "if God has given you so much, you not only spend it on yourself, you also spend it on people because according to him, you are not taking the money beyond this earth."

Otedola's stupendous wealth and business successes are products of his decision to run his business differently from the norm right from the start.

"I have a system in place whereby I can load a truck in 12 minutes whereas my competitors take about 45 minutes to load a truck. So I have an edge over my competitors," he said. But his rivals are quick to point out that he gets an edge, primarily, by dumping prices.

"Yes, I am known for doing that (dumping prices). And why I do that is principally to stay afloat in business. I would rather make little margin on high volumes," he said. This tactic earned Otedola, the sobriquet "Emperor". Even though he tries to stay away from the klieglight.

"I like to work quietly behind the scene, building my business empire. I want to have a firm grip on the Lagos market and then expand the scope of my operations."

Speculations are however rife that Otedola has set his eyes on another politics.

Sources close to him say Otedola is under pressure to contest the Number One seat in Lagos come 2007. While Otedola has not voiced such an intention some say his attempts to paint the picture of a 'new Abiola rising up from Epe' is to position him for the seat.

Should Otedola eventually decide to join the governorship race, then he would most certainly, have to slug it out with the likes of Engr Funsho Williams, Femi Pedro the deputy governor, Senator Musiliu Obanikoro, Senator Tokunbo Afikuyomi and many others who are believed to be nursing ambitions to succeed Governor Tinubu.

Whatever he does, one thing that is certain if he runs is that money would not be the young billionaire's problem.

Samuel Adedoyin: Industrial Giant

Were Samuel Adedoyin to be European or American, he would be the subject of books, thesis, seminars and papers. His methods, particularly, those he deployed to grow a ś48, one-shop business to a N6billion empire, would have been studied, again, and again. Alas, Adedoyin is a Nigerian. One of the few czars of post-independence commerce who succeeded in transforming his trading business into a manufacturing conglomerate.

More remarkable is the fact that Adedoyin's businesses never went public despite their continuos rise and expansion. They have also been able to hold their own despite the emergence of big companies run by young, swashbuckling business Turks who now bestride the Nigerian business terrain.

Adedoyin's Doyin Group comprises 14 companies with tentacles in manufacturing, property, engineering, services, and hospitality. They include, Doyin Investments Limited, Starco Motors Limited, Doyin Motors, Met Manufacturing Industries, Star Mills, Starco Limited, Jekoyemikele Oluwa & Bros, Global Soap and Detergent, Doyin Pharmaceuticals, Doyin Industries, First City Property Limited, Consolidated Foods and Beverages Limited, Stafford Chemicals and Industries, and Doyin Shipping International Limited.

Adedoyin was born in December 1935 at Agbamu, a small village near Oro, Kwara State, a town whose scions are big names in commerce in many parts of Nigeria and her neighbours. Many of Agbamu's youngmen who lacked educational opportunities built their future and dreams round the exploits of the wealthy traders of Oro.

Adedoyin was one of such youngmen and he turned in the direction of trade at the age of 14. He was selling nails. His eyes were, however, not on just making enough to live by, he had dreams of growing his small shop into a chain of businesses. By his 21st birthday, Adedoyin had a name for his business, Jekoyemikale Oluwa and Brothers. He diversified into the sale of ball-point pens, garments, umbrellas and other popular goods.

The import business was then dominated by expatriate firms, nevertheless wanted a share of their market. He raised capital and plunged into the importation of commodities and his business grew. By the 70s his Doyin Motors was selling Volvo and later, Peugeot cars.

Relying largely on the informal education that would always stand him good stead throughout life, Adedoyin quickly identified new business prospects and cashed in on the opportunities they offered before most of his rivals did. He was also a good student of the whims and caprices of the average consumer and thus was always at the market's beck and call to satisfy its needs, albeit for a fee.

As his businesses grew, Adedoyin envisioned further growth and promised himself that his businesses would be manned solely by Nigerians. His other vision, and one which made him leave many of his less (far) sighted mates behind was his ambition to transform his trading concern into industrial ones.

He was of the firm belief then that Nigeria could only develop if her businessmen stopped running after contracts and concentrate on developing the manufacturing sector. But it was in vain that he tried to convince his colleagues even though he cited the examples of giant multinational companies whom, he liked to point out, started as trading concerns.

Despite, their pessism, Adedoyin started Doyin Investment Limited, which was a sort of direct labour company that produced travelling bags, suitcases and leather products. His Global Soap and Detergent Industry also manufactured detergents, toilet and laundry soaps and glycerine, an essential raw material for producing detergents. One other arm, Doyin Industries Limited manufactured toothpaste, mendicants, disinfectants, creams and pomades including Dentoclean and prudent brands of toothpaste. He established Property Development Company Limited, which manages his 200 property estate. Several decades after he started business Adedoyin's group employs nearly 5,000 people.

In Agbamu, Adedoyin constructed a potable water facility, a 50-bed hospital, a modern Post Office, electrical works and he gives scholarships. In 1988, the University of Ilorin conferred a Honorary Doctor of Letters degree on him. His state, Kwara, conferred the State Merit Award on him in 1998 while the City of London, honoured him with "The Freedom of the City of London" award in 2000. He is a holder of the Officer of the Order of the Federal Republic of Nigeria (OFR) award and a winner of the National Productivity Merit Award. The recent years have seen him pass the running of some of his businesses to his children while he devotes more and more time to religious activities.

Cosmas Maduka: auto merchant

Cosmos Maduka regrets not having any form of formal education. "My father's death affected my education greatly," Maduka the chief executive officer of upscale car mart, Coscharis, once said during an interview. But Maduka's regrets are not products of a feeling of loss. Maduka's regret stems from the fact that he was denied an opportunity to prove his intellectual prowess. "Let me tell you, if I had the opportunity of going to school, I would have made a first class," he said. Maduka, probably, would have.

Maduka grew up in a very poor family and when his father died suddenly when he was four years old his schooling had to stop. He began hawking to help his mother take care of the family. After hawking for a while, a relative took him to Ebute-Metta, Lagos where he started work with the latter as an apprentice motor spares trader.

After working for his uncle for seven years Maduka left in 1975 to start his own business. His uncle gave him a severance pay of N200. He returned to Nnewi, his hometown, to start business but returned to Idumota, Lagos in 1979, where he got a shop. With his pluck and some dose of luck opportunities began coming his way. He started travelling to Taiwan to import spares. Maduka's biggest break came after his business partners began to trust him. In one interview, he said his other colleagues rather than win the trust of their suppliers chose to marry more wives, build houses or take chieftaincy titles.

Maduka and some friends would later start a partnership but it never lasted for long, and in 1983 the partnership collapsed. He incorporated Coscharis Motors Ltd, which continued with the importation and distribution of vehicles from USA, UK, Germany and Japan. Years done the line, Coscharis Group with 10 subsidiaries which include, Coscharis Auto Industries Ltd., Coscharis Technologies and Foods Ltd., Coscharis Exports Ltd., Coscharis Securities Ltd., Coscharis Finance and Investment Ltd.

Coscharis Motors supplies Nigeria and the entire West African sub region with vehicles and it has offices in Ghana and Gabon.

The Coscharis group produces roller chains, sells medical equipment, and computer hardwares and softwares (is the authorised dealer for Compaq Incorporation of America, American Power Conversion (APC), and Epson range of printers) and exports cocoa and wood to Europe and America. Maduka structures his business in such a way that his Coscharis Finance and Investment Ltd has the primary responsibility of raising fund for the businesses of the entire group. Among other things, the Group's manufacturing arm produces motor cycle roller chain which is exported to countries in the West African sub region.

Maduka is the chairman of Nigerian Table Tennis Association (NTTA), and his company has sponsored several Table Tennis Championships.

Festus Odimegwu: beer boss

Thank, largely, to the persuasive abilities of beefy and smooth talking CEO of Nigeria Breweries Limited, Festus Odimegwu, Nigeria has the most modern brewery in the world. The N40bn ($300m) Nigeria Breweries Limited (NBL), brewery in Enugu State has an installed capacity of three million hectolitre per annum (3mh/a) or one million carton units per week. The brewery produces bottles at the rate of 2,000 per minute, non stop, for all the 525,600 minutes in a year.

It was Odimegwu who talked European beer giant Heineken N.V of Amsterdam, into putting up the funds and the technology needed to put the brewery in place.

Yes, NBL is Nigeria's most profitable company and its shares sell the way sachets of pure water sells on Lagos streets, but all these counted little when placed beside European perception of Nigeria as a country riddled with corruption and vice.

The first thing Odimegwu did was to talk Heineken, the world's third largest brewer, into entering into a strategic alliance with NBL.

Then, he brought up the issue of the brewery. Odimegwu once said during an interview that it took him almost two years to get Heineken to share his vision. "We wanted the same technology that's available in Europe. I passed my exams over there. I know we can handle the technology. Don't say that just because it's Africa we can't handle it. Nigeria is just as much part of the globalising world," he said.

Great deeds. But that's what to expect from a student who throughout his school life had the reputation of a nerd. Odimegwu topped a brilliant run in his primary and secondary schools with a First Class Degree in Chemistry from the University of Nigeria, Nsukka (UNN). Odimegwu wanted to study medicine but his father's death changed his dreams. Medicine was going to take eight years and he was the first child. He could spare little time for schooling. He wanted a speedy passage through school so he could come back and take care of the family. So, he took his teacher's advise and opted for Chemistry, which was for four years.

Now, Odimegwu provides direction and sustenance, in a way, for thousands of NBL employees and distributors. His means are the same forces he has consistently used to keep NBL at the top of the Nigerian corporate ladder. Odimegwu has both an unusual management style and a unique marketing style. These, and glamour-at the relaunch Star, it (Star) was driven into the venue in a limousine preceded by outriders). For one, Odimegwu is the number one marketer in NBL. In characteristic manner, he tries to sell his beer in everything he does and there is hardly any occasion when he wont grab a minute opportunity to preach his beer.

Regularly, he would season his sales talk with 'advice'- asking beer drinkers to take the stuff with moderation.

"We preach that people should not abuse our products. Drink our products but drink responsibly. Moderation is the key to the good life, according to the great masters. If you drink more water than necessary, it is bad. If you sleep more than necessary, it is bad."

Building on NBL tradition of taking fresh graduates as management trainees and then training them to be super managers (a process Odimegwu himself went through), Odimegwu built a formidable marketing team. Add that to the excellent pension system that NBL runs and then you would have an idea of the NBL magic and why it is said that NBL staff rarely resign.

THE IBRUS: FAMILY FORTRESS

The Ibru brothers, Michael, Goodie, Felix and Alex have affected the Nigerian business climate in more ways than one. It all began with Michael who was one of the earliest Nigerians to go into fishery. Michael imported fish from Ghana and when his business grew he began to diversify. Michael who also provided funds and support for the education of his younger brothers also made sure that they studied courses that the family business could put to good use later. Goodie studied law, Alex studied... while Felix who later became the governor of Delta State studied...

At a time the brothers ran about 25 thriving businesses that spanned the media, real estate, agriculture, banking and others. The policies that resulted from the Structural Adjustment Program (SAP) of the eighties affected the importation businesses of the Ibrus greatly. The massive storage facility at Westminister, Apapa, which formerly held the Group's goods was converted to offer commercial services.

Michael set up Aerocontractors, Ibru Seafoods, Oceanic Bank Nigeria Limited, Rutam Motors, Sheraton Hotel & Towers. Nowadays, the Ibru brothers seemed to have gone their separate ways. Goodie who graduated from the Holborn College of Law, University of London started a law firm, G.M. Ibru & Co. He is the Chairman of Tourist Company, Nigeria, owners of Federal Palace Hotel & Suites, Ikeja Hotel Plc, owners of Sheraton

Lagos Hotel & Towers and the Chairman of Hans Gremlin Nigeria Limited (a subsidiary of Ikeja Hotel Plc), owners of Abuja Sheraton Hotel & Towers. That makes this Ibru the biggest operator in the hospitality industry.

Goodie is also an ex-President of the Nigerian Stock Exchange.

Alex is the pulisher of Guardian and a former minister for internal affairs. The inspiration for Guardian came while Alex lived in London where he was a fan of the Guardian of London. In 1996 an assassination attempt left Alex almost dead. He was flown to the UK for treatment but the attempt left him blind in one eye.

Leo Stan Ekeh: MR ZINOX

Leo Stan Ekeh has the credit of putting the first Nigerian computer on the global IT map. Ekeh schooled in the UK where he, sometimes, slept through lectures because he worked nights to put himself through school. While his, occasional, naps made his lecturers wonder, his aptitude and high scores endeared him to them. Eventually, it all paid off and by the time he returned to Nigeria in the 90's to market computers life had changed for the better. He founded Task Systems Ltd. and changed the printing industry with the introduction of Apple Macintosh computers. Ekeh also founded Technology Distributions Ltd, the first IT bulk distribution company in West Africa. His Task Systems Ltd. brought him fortunes but it was Zinox that brought him fame.

"Zinox has been a dream first, to create an International Technology identity for this country, and second to computerize Nigeria. We want to deliver internationally certified computers to Nigerians at affordable prices and with good local support. If you want it, you will get it at an affordable price with no story of warranty,"he said.

In partnership with Mustek, the number one computer company in South Africa and Alhema of France, Ekeh made Zinox, the first globally certified personal computer (PC) made in Nigeria. But that was after Ekeh had rejected initial suggestions to launch the clone of an already accepted computer system. The easiest thing Zinox could do, he was told, was launch a clone.

Ekeh refused and plodded on. The process took six years and Zinox was only launched after Microsoft had certified it as second in Africa. In all he does, Ekeh tries to be world class.

"We don't just buy from any market. We buy from where the best two in the world buy. We subscribe to those components. It is a tough world because we had to put a bond, $10.9million bond, to be able to access those suppliers. This shows that the manufacturers also have confidence in us that we are going to grow up because you don't just give somebody a $10.9million dollar bond and go to sleep," he said.

Although Zinox's initial launch was first met with skepticism its special qualities which made it particularly suitable for use in Nigeria soon made it the darling of several top corporate establishments. For example, the Zinox system has surge and spike suppressors and internal AVR that makes it operate without stress in places where power supply is epileptic or unpredictable.

Its monitors were so designed that it could function in rooms without air conditioners while its keyboards are the only ones in the world with the Naira sign.

"When you look at yourself getting into big establishments like CBN, multinationals like Totalfinaelf, Shell, First Bank, most of the universities, NCC, the critical sectors, that manage large database that could really run your machines and test the reliability and these people are happy and are actually seeing you performing to international standard, that gives you more encouragement."

When he came in into the picture, Zinox only had 10% of market share but now Ekeh says it has grown to 95%. "We are number one on PCs and laptops, we are number two on UPS. It is not an easy thing to achieve because we are not sleeping. This is a promise we made that in three years, we would be number one. When you consider multinationals in this country, we are clearly number one. But we don't want to be number one of 200,000. We want to be number one of three million so that the number would make sense to us because we are spending a whole lot of money.

"We have eight offices in three years and we are opening another five before April next year. So it is like we are opening one office now per month, so it means we can reach you. Zinox is in Abuja, Kano, Ibadan, Owerri, Enugu, Port Harcourt, Lagos. We are opening a third office in Ikeja, Lagos. So, wherever you are, we can pay attention to you no matter your source of Zinox. As long as you bought if from us, you get the support right from Zinox," he said.

Since its inception Zinox has spent $2.1million on research and it is building a high tech laboratory which is going to cost 4billion US dollars in Japan with its partners.

Presently, what occupies Ekeh's mind is how to introduce Zinox more developing economies such as, South Africa, Brazil, Taiwan and Kenya.

"We want to dominate the market scientifically and prove most importantly that a Nigerian company can scientifically present itself to the top of the globe and do it and sustain it," he said.

His company has a staff strength of 1,800. Ekeh is the chairman of Assurance Bank and Guardian Trust Insurance Company. The Imo State University, honoured Ekeh with an honourary doctorate degree in Business Administration and the Federal University of Technology, Owerri (FUTO).

The OANDO TRIO

Wale Tinubu, Mofe Boyo and Jite Okoloko are friends in their mid thirties, and joint owners of Ocean & Oil Services Nigeria Limited. Few people knew them before April 2000. An even fewer number knew anything about their company, Ocean & Oil. They operated quietly in the downstream sector of the juicy oil industry. They started with a dream and in a short span of six years, they had turned an obscure and unknown company in the backwaters of business of oil servicing to the largest suppliers of bitumen for Nigerian roads.

But few people knew this. Two years ago, all that changed. Their company, Ocean & Oil made a daring bid for the Federal Government's 30 percent equity stake in Unipetrol Plc. When they entered the race for the bid, few gave them any chance of success, at least not with other bigger and better known names also in the race. They were not even the highest bidders, and surprisingly they the 'underdog' won. But the privatisation Bureau Chief, el-Rufai, was to explain thus at a news conference, "these are young Nigerians with the potential to add value to the company."

Then not long after their successful bid, trouble started, the House Committee on privatisation raised questions on the process leading to their emergence as winners of the bid, the workers of Unipetrol led by the Union kicked against their take over of the company. But if those opposing their successful bid expected them to recoil in fright, then they sure met a brick-wall, hear Mofe; "if anyone expects that we'll invest so much money in acquiring 30 percent equity shares in Unipetrol and then leave it to somebody else to manage for us, then that person must be a joker." But after some behind the scene manouvres and negotiations tempers calmed. In May 2001, the new team took over full management control of the company.

Wale Tinubu emerged the new Managing Director, and Mofe Boyo became the Deputy Managing Director while Jite Okoloko holds forte as Managing Director of the parent company, Ocean & Oil.

The question naturally on most lips is who the hell are these chaps and where are they coming from?

Wale is a second class upper degree law graduate from the University of Liverpool, from where he proceeded to the famous London School of Economics where he bagged an LL M. He is the son of a one time Assistant Commissioner of police in Lagos State and nephew of Governor Bola Ahmed Tinubu.

Mofe Boyo on his part studied Law at the University of London, scion of two famous families in Edo/Delta States. His father was a very successful lawyer, while his mother, Justice Constance Momoh, a scion of the Momoh royal family in Auchi, is the current Chief Judge of Edo State.

Jite Okoloko is a graduate of Economics from the University of Benin. From the powerful Okoloko family in Delta State.

From their varied backgrounds they found a common purpose to in partnership build a new and flourishing business empire. Separately they spoke of their dream, but you can't fail to notice a streak of shared vision.

Wale: "We have a great vision to turn Unipetrol around and make it top in oil marketing business." Largely seen by friends and foes alike as a shrewd and calculating businessman who is never in a hurry to take a plunge until he carefully weighs the pros and cons. But he believes firmly that business is all about risk. He cuts the picture of a sharp and intelligent mind. A little impatient however with social niceties.

Hear Mofe: "This purchase means one thing to me, less sleep, more work". Seen as very simple, diplomatic, meticulous and shy of publicity. But never you be deceived by the face of that, beneath his shy facial appearance is the deep skin of a tough negotiator. He exhibited this when he confronted the House Committee on Privatisation when it raised posers on the propriety of the sale of government equity sale to Ocean & Oil.

And Jite was no less committed. hear him; "we'll enhance workers welfare and add value to shareholders investment."

Fired by their common vision, they have not looked back since they started Ocean & Oil some eight years ago. Their purchase of Uniptrol makes the challenge to succeed specially compelling.