New Telegraph 
The Managing Director, Sujimoto Group, Dr Sijibomi Ogundele has said that lack of funding would have shattered Elon Musk, Steve Jobs, and Space X’s dreams if they were in Nigeria.
The business mogul stated this in an Open Letter titled ‘Government has no obligation to support businesses’, written to President Bola Tinubu and made available to newsmen on Saturday, August 26,
Dr Sijibomi said If Elon Musk was in Lagos, he probably would have ended up in a computer village selling mobile devices, with his innovative ideas frustrated due to lack of funding.
The Czar of Real Estate Development explained that Steve Jobs also may have been a genius entrepreneur—he certainly had an eye for design—but his most successful product would not exist if it weren’t for the billions of dollars that the US government spends every year on research and development.
Dr. Ogundele noted that Just like SpaceX, although it is not yet in the full stage of generating revenue, the American government has also maintained a great share in funding the technological corporation because of its economic relevance and research impact on global society.
“Sectoral Research and Development: If Elon Musk was in Lagos, he probably would have ended up in a computer village selling mobile devices, with his innovative ideas frustrated due to lack of funding.
“Steve Jobs also may have been a genius entrepreneur—he certainly had an eye for design—but his most successful product would not exist if it weren’t for the billions of dollars that the US government spends every year on research and development.
“Just like SpaceX, although it is not yet in the full stage of generating revenue, the American government has also maintained a great share in funding the technological corporation because of its economic relevance and research impact on global society.” Dr. Sijibomi said.
He, however, noted that Nigeria cannot afford to think small as the giant of Africa and the biggest nation in Africa with the biggest problem.
According to him, the government needs to go out there and identify 10,000–50,000 outstanding entrepreneurs from all 36 states who have the capacity and reputation to do things differently, empower them beyond physical collateral, invest in their intellectual property, and create an enabling environment where competence and integrity prevail over connections and deceit.
The Real Estate Mogul lamented that as of today, a 50-kg bag of rice costs N42,000 from the mills and about N52,000 from supermarkets, whereas the same bag of rice is worth N22,000 at Seme Border, Republic of Benin.
Dr Sijibomi advised that the secret to reducing the price is by growing the paddy locally and setting up rice mills in individual states, drastically reducing the cost of rice and food.
He, therefore, stated that this is what Suji Farms Estate aims to achieve in the next 24 months, where we will be able to grow our paddy, mill the paddy, and distribute them directly to supermarkets across the nation, drastically reducing the cost of a bag from N52,000 to N35,000.
“Nigeria can’t afford to think small. As the giant of Africa and the biggest nation in Africa with the biggest problem.
“The government needs to go out there and identify 10,000–50,000 outstanding entrepreneurs from all 36 states who have the capacity and reputation to do things differently, empower them beyond physical collateral, invest in their intellectual property, and create an enabling environment where competence and integrity prevail over connections and deceit,” he said.
“As of today, a 50-kg bag of rice costs N42,000 from the mills and about N52,000 from supermarkets, whereas the same bag of rice is worth N22,000 at Seme Border, Republic of Benin.
“The secret to reducing the price is by growing the paddy locally and setting up rice mills in individual states, drastically reducing the cost of rice and food.
“This is what Suji Farms Estate aims to achieve in the next 24 months, where we will be able to grow our paddy, mill the paddy, and distribute them directly to supermarkets across the nation, drastically reducing the cost of a bag from N52,000 to N35,000.
“This will further improve our nation’s human capital development and deliberately improve the nation’s food security, but we are only one company, and we believe the government can partner with other innovative agro-entrepreneurs, providing them with accessible, affordable, and non-stressful capital.” He said.
