Knowledge Creates Wealth Says Chief Ubogu
High Chief Michael Orobosa Ubogu is the Managing Director of Micura Services Limited and he has become a household name in the Maritime sector in Nigeria. He is one digital entrepreneur that believes that an informed mind creates wealth without stress. In this Exclusive interview with Mindset Media Limited, he highlighted on the need for people to create wealth with their knowledge, birthday celebrations and other sundry issues in Nigeria.
Excerpts:
Sir what are the basics to create wealth as a successful entrepreneur?
The facebook founders ,Mark Zuckerberg and others, we are all celebrating today used knowledge to create wealth. How much did they invest in the market? It is probably zero and today they are being celebrated all over the world. Almost everybody use facebook today. He invested on knowledge and that is why an informed mind cannot be underestimated and it brings creativity. If someone is educated and he or she does not get immediate employment but the mind is informed. An informed mind brings wealth. You just need to conceptualize on your vision.Sometimes, when I see people that have BSC in Accounting and they are yet to add value to their CVs, your phones and tablets can give you a Masters degree.
There are CVs you send to some companies, if there is no job, they would create one for you. The job I am doing today for Dangote came through my knowledge. When the Dangote Executives came to me and I gave them my terms and conditions. They said 12 percent but Dangote himself approved 20 percent for me. It is the knowledge I am using to create wealth and nothing more.Sometimes, when I’m invited by some CEOs to speak to their employees on supply chain management due to my knowledge on entrepreneurial leadership and as a stakeholder in the Maritime sector too and I give them the basics of wealth management between the employer and the employee. Creativity and passion also creates wealth.
Tell us about your 45years birthday bash and what are your plans towards the celebration?
I ‘m not an elaborate person and there is no much to celebrate. But I want to thank God for escaping a miraculous fatal accident in my life. Sometimes we need to differentiate between wealth and satisfaction and I’m not a wealthy person but I’m satisfied with the presence of blessings in my life. For me I don’t have any elaborate celebration because my birthday fell on work days and I would not shift it. I have been celebrating my birthday since three years now organising novelty march to Kirikiri prison, National Stadium and probably talk to my few friends to celebrate it with me. My joy is that I ‘m contented in life and nothing more.
Is there anytime you feel like quitting as a CEO?
I cannot think of quitting as a CEO. My responsibility and duty as a CEO to resuscitate the business not quitting. If I quit, it means, I have failed. Everyday of my life as a CEO, I need to actualise my dream. Though there challenges but you need the working tool to make it solved. I just put one of my businesses into lifeline which I stopped since 9 months ago. I still have faith that the business would work again. I have to go to the drawing board to see why we were losing in the business and now discovered that the expenditure was higher than the generation of income. We have to put the round peg in the round hole, those that were not needed in the company have to go, that is, we have to pay off #64 million to them.
Though the business is just coming to live and we incurred losses to about 40 percent and cost of doing that business was going down. The problem was expenditure not generation. The work of a CEO to analyse the business and take the next step of entrepreneurial progression. That is why some companies would like to look for qualified people not just qualification but experience .Qualification is a set standard followed by experience. For such person to have worked for 4 or 5 years, it means, he or she has a cognate experience and added value to move the company forward.
How do you feel when people commend you on your philanthropic gesture in life?
As far your mind is informed, you are creative. What is the percentage of those working or doing their own business really making good living? Education bridges the gap between the rich and the poor. Wealth is relative because I believe in the word of God. When you give, you are already paying a debt to God. I have helped many people through education and others I don’t even know one on one. An informed mind is a creative mind. I don’t believe in building property for children and I would give them the best education to their Masters Degree level where the unemployment market would look for them, in fact they cannot resist it. If there is no vacancy with their intimidating CVs, the employer will create vacancy at all cost.Again, there is a big difference in abroad universities and Nigerian ones, you cannot bribe a lecturer there and every child already has knowledge of Info-Tech.
Only here in Nigeria we have moral culture that guides every growing child but over there, there is laxity of culture. Investment in education is not waste. The beauty of education is life- time investment in someone’s life. In abroad, there is low interest rate unlike in Nigeria where the interest rate is high. Most foreign companies today in Nigeria, their headquarters are in Dubai due to low interest rate. It is very difficult for a businessman to couple with the high interest rate by the Nigerian banks.
What is the meaning of Outsourcing Manpower?
Outsourcing manpower is all about employing quality workers to big-time corporations in Nigeria. We have certification for it. Outsourcing manpower basically like a capital agreement either the company employs directly or indirectly. It is a dotting or reporting line.Micura Services Limited is already a brand and we do things according to legislation. If we take outsourcing power in big coporations, we pay their medical bills, taxes and other expenses. We do outsourcing manpower for companies like Dangote,BUA Group and others. In Micura Services Limited, either you are employed directly or indirectly, we pay on the 28th of each month. Even this job we are doing now, we have not collect invoice for it but we are already preparing to pay our workers, even when our principals have not pay us or not and that is why Micura Services Limited is difference from other outsourcing manpower companies. If you don’t pay your workers in time, it breeds general commotion to work and other unholy vices to such corporation. Every worker is entitled to his or her payment.
How do we eradicate corruption in Nigeria?
Well, there is no transparency in government. Even our civil servants are corrupt. We need a strong legislation that would be put in place to checkmate corruption in all sectors of the economy.
What is the way out of Apapa gridlock?
At least 2000 trucks enter Apapa everyday and what the government need to do to repair the bad roads and demarcate the lines of articulated vehicles and cars and enforced a legislation that would guide every vehicle that ply Apapa area to easy the traffic. There is no will power to fight corruption, anarchy and others.
Do you see any political performance in President Buhari’s ministerial lists?
If any government that I have had confidence on since I grew up to adulthood is President Buhari’s government and most of these ministerial lists are compete to give Nigerians quality leadership in Buhari’s government.
He needs experienced people to work with him coupled with age too. In abroad, some of these political leadership positions are occupied by experienced and old people. I believe in youth leadership but we need the mixture of young and old. Good product gives quality service.
What is your advice for young people who aimed to be successful in their professions like you?
Wealth has a process and hardwork pays too. They must add value to their profession if they must excel in their businesses.