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JUST IN:EX-Nigerian President Obasanjo’s Son, Oludayo Reveals How He Manages Obasanjo Farms, Relationship With His Father

EX-Nigerian President Obasanjo’s Son, Oludayo Reveals How He Manages Obasanjo Farms, Relationship With His Father.….CONTINUE READING>>>>>>>

Oludayo Obasanjo, one of the sons of former Nigerian President Olusegun Obasanjo, offered insights into managing Obasanjo Farms, a long-established family business.

According to Premium Times, speaking at the ‘My Family, My Business’ summit in Lagos, he discussed the unique challenges of running a family business of such magnitude and shared his experiences working with his father. He serves as the Executive Director of Marketing and Development at Obasanjo Farms Nigeria Limited.

View pictures in App save up to 80% data. Addressing the complexities of working alongside a first-generation company owner and two-time Nigerian president, he emphasized that in such situations, the company owner’s vision usually takes precedence. However, he also stressed the importance of harmonizing that vision with modern technology for operational efficiency.

He discussed the distinct challenges and concerns he faced while working with his father and the contrast between failure in one’s business and a family business with a rich history.

View pictures in App save up to 80% data. He highlighted the fear of failure and the additional weight of responsibility in a multi-generational family business, underscoring the importance of not being perceived as the one responsible for its failure.

Regarding the family dynamics of the business, he explained that the Obasanjo family has various businesses with different siblings heading various companies, resulting in healthy internal competition.

He shared instances of passionate disagreements between family members during business discussions, which could seem intense to outsiders. However, he emphasized that these debates are business-related and not personal.

In his advice for achieving success in a family business, he highlighted the significance of a clear strategy, well-thought-out plans, and assembling the right team. He also called for early and comprehensive education for the younger generation to equip them with the skills and knowledge necessary to sustain and grow family businesses successfully.

View pictures in App save up to 80% data. Other speakers at the event emphasized the importance of family businesses for the national economy, citing the significant contribution of approximately 23.8 million family businesses, injecting an annual 200 billion dollars into Nigeria’s economy.

They emphasized the need for family businesses to endure beyond their founders, as they play a pivotal role in job creation and economic growth.….CONTINUE READING>>>>>>>

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