by Cedric ‘BIG CED’ Thornton
‘We are building a company that gives Nigerians world-class vehicles at globally competitive prices.’
But, according to Business Insider Africa, three years after winning that award and witnessing Nigeria go into a recession, the former CEO of Jetvan had to switch gears when he realized that things were not looking well in the market.
As customer couldn’t afford foreign vehicles, Oluwatobi had to learn what he could do to allow customers to purchase cars.
“We were selling luxury vehicles. Suddenly, no one could afford them,” he told the media outlet. “Customers who once bought new buses were now stuck repairing old ones. At one point, I feared losing everything. I knew I had to find an alternative.”
That alternative became Nord. His thought process was to build vehicles in Africa since foreign cars were becoming too expensive for Nigerians. If he were able to do so and make them affordable, it would stand a chance of being successful.
“We want to be the company Africans can look to and say, ‘Because of Nord, my dream of owning a brand-new car has been achieved,’” Oluwatobi said.
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Source: Black Enterprise
