1963 years back, the government of Western
Nigeria , now getting increasingly involved in a lot of industrial
activities in the country approached the Leventis Group to release the
prince for five years to help in re-organisation of some of their
companies. The request was reluctantly granted after month of hard
negotiation by the then Chairman of the Leventis Group, Chief A. G.
Leventis who considered the young Prince Sijuwade as an asset to their
organization. The Leventis Group made the Western Nigeria Government
promise to let the prince return to his organization at the end of
assignment.
Prince Sijuwade’s first
assignment with the government was as Sales Director of National Motor
in Lagos. He subsequently headed the management of the company with
numerous Nigerian and expatriate staff under him .
In 1964 , he undertook an
extensive international tour to look into the possibilities of acquiring
better products for National Motors. One of the places he visited was
the Soviet Union whose cars he believed would sell well in Nigeria,
because they were relatively cheap and appeared durable.
When he returned to Nigeria
and reported to his employers, they were not as enthusiastic about the
business proposal, because the government was not at this time well
disposed to trade with the Russians. Rather than feel disappointed
Prince Sijuwade, smart businessman that he was, immediately saw a
business opportunity and seized it.
He formed a company along with
three friends; the company, WAATECO, was to become in a few years the
sole distributor of soviet-made vehicles, tractors and engineering
equipment in Nigeria with at least fifty Russians on its staff and a
dozen branches all over Nigeria.
This small beginning marked
the start of trade with the Soviet Union in Nigeria, and for Prince
Sijuwade the birth of a business empire that was to include at least
fifty companies.
Two years after WAATECO was
set up, Prince Sijuwade offered the Soviet Union 40 per cent equity
participation in the company. Of course, the Russians did not hesitate
since the company was doing well. Business with the Russians was to grow
many hundred folds in the next decade and a half.
It is a credit to his acumen
in business that while trade with the Russians expanded, his business
contacts in the capitalist West continued to grow and develop. He was
being seasoned in the tough world of business.
While he was setting up his
own company he continued his efforts to help re-organise the
government-owned National Motors and by 1965 the company began showing a
profit. The political turmoil in the country following the coup of
January 1966 and the counter-coup of July the same year brought his good
friend (Rtd) Major General Robert Adebayo (then Colonel) to office as
Governor of the Western Region.
Sensitive to the possibility
of having a disagreement with his fiend over a public issue he decided
that it was best to resign his appointment as an employee of the
Government of Western Nigeria. He subsequently left the service of the
government and went fully into business on his own. With this resolve,
he now explored with fresh zeal his many contacts within Nigeria and on
the international scene and revitalized business possibilities which
time had not allowed him to exploit while working with the government.
