There’re many challenges of producing paints in Nigeria — CEO, Smithola Paints

Chief Taiwo Oladipo, CEO, Smithola Group of Companies, is primarily known for Smithola Paints, providing quality paints and services, alongside logistics, cargo, and investment arms like Smithola Investments for domestic/international shipping. The company is also into Cheese Beauty, etc.In this interview with Vistastimes, Chief Taiwo Oladipo, discusses reasons Nigerian producers should stick to quality production and the need to eliminate quacks in every production line.ExcerptsWhat inspired you going into paint production?When you’re a businessman, you can be inspired, you can think of anything so far it is legitimate to do. So we just noticed that we have a lot of paint products everywhere, and some of them after using it to paint your wall, when it dried up and eventually your cloth touches the wall, immediately it stains.So we decided to do something different in our country. That is why we decided to go into producing quality paint. We want it to be different from other people’s paint. At least, we want to get something better than the other ones. The passion to produce quality paint inspired us, because we want to stand out, and make a difference. Also I would like you to know that there are quality paints in the markets.What stands out for your own paint and how do you want to attract customers?As I said, there are some quality paints in the market. We have done a market survey, we know what Nigerians are looking for in terms of quality paint, and we are strategic to make our customers, agents, and end users happy when they use our paint and will be able to refer the public. Also we produce different sizes with different prizes, still maintaining high quality. That is what makes us unique. We have paints of N200,000 per drum if you want it. There is one of N16,000 per drum. We ensure that buyers enjoy quality in spite of the grade and prices. And we want to make it affordable. This is why our paint is rapidly penetrating and competing favourably in the market. So, our own quality is downstream. Also we do give guarantees on our paints. What I’m saying in essence is that if you stand and stick to quality, if you know what you are doing, as soon as people know you with your quality, they will come for your product. We also give guarantees depending on what you want to take. This is to tell you that we know the quality that we have. So these are the things that we are trying to build up. Our people believe so much in imported products in Nigeria. We want to tell them that we are equal to the task. So by the time you use the imported and use our own, you will have a rethink and say, why can’t I patronise my own people?High cost of production in Nigeria is affecting standard products, what is your take on this?Okay, this is what we want to do. If you produce substandard products because you want to maximise profit, it is abuse to humanity. For instance you make N10,000 from a drum and the quality is not there, you have deceived the people and it will not be long, your customers will discover it and once that is done, you begin to lose relevance and your customers will gradually leave you. We are not in the paint production to maximise profit, but to leverage on the rate of turnover, no matter the little profit we are making. Before you know it, your N200 can make you a billionaire. We want to make a point and that is customer satisfaction. Let Nigerians know that Smithola Paint is a quality product and we are not here to shortchange them.How do you sustain quality in your industry?Because we want to set standards in the paint industry, the management of Smithola Pants has invested billions to ensure that the company will sustain quality. Again, there is no business that I want to do in Nigeria and succeed and will not invest heavily both for working capital and backup. So, if we are looking for profit in the next 10 years will we make billions we have invested. We are doing something that the next generation will benefit from. We are starting something that Nigeria will be proud of in the next 20 years, 30 years or more.What do you have to say about the paint industry in Nigeria?There are a lot of challenges. Many people are into producing paint without a brand name and that is causing confusion, deceiving buyers. Another challenge is painters and quacks selling chemicals by the road side. They will just go out there, produce something and start selling to the people. But if you use our paint, you can come back and tell us if anything happens, which we know will not happen. So we are coming out with a product that is different from other products. I believe if the people see it and they use it, they will come back to us. If you use it now, you see that they meet up with your standard, you will tell your friend, your friend will tell somebody, that’s how it spreads.In the area of regulation, do you think the government can do something to eliminate quacks?In the area of regulations, the government can come in if they want to. Those people that are selling chemicals, you can’t hold them because they are doing their business, they have their license, they pay their tax. We too, we are doing our own thing. The issue there is that those patronising them, it’s like piracy. Government can ban many of them that are using plain buckets without name, without brand name. So that when you buy you can know the name of the company you purchase from.