Fidelis Ayebae is Managing Director of Fidson Health Care. The professional banker and native of Agenebode in Edo state discusses the challenges of growing of Fidson, one of Nigeria’s leading pharmaceutical companies, in this interview with Bukola Afolabi. He also proffers solutions to some of the problems in the industry.
Fidson started 17years ago when I wanted to do something that would add value to the society. Somebody introduced pharmaceutical products to me, I did my investigation and it turned out to be right.
You were coming from the banking sector. How easy was it for you to have crossed to pharmaceutical sector?
From the days of my youth, I had always wanted to be an entrepreneur because where I grew up at Lawanson, there were very few businessmen. In fact, there were just three of them and all of them owned television. As a young man, the question I was asking myself was what differentiated these three gentlemen form the rest including my father who was a tenant. I discovered that they were entrepreneurs. Right then, I decided that if that is what it takes to own a television, a car, a house of my own, that is what I am going to do. I made the decision as a young man; it was not as if I had any real idea. I dreamt it then and it came to pass.
How did you come about the name Fidson?
Fidson is from my name. It means Fidelis, Daughters and Sons.
When did the breakthrough come?
In 1991, I made that leap of fate because I knew I was ready. If you had read some of my stories before, then you would find one of the most traumatic times that it is perpetually starring at me in the face anytime I reminiscence about my growing up. When my father retired from work then at the Nigerian Wire and Steel company, he came back home and we saw a package with him. We were wondering what he put in the package. I thought he was to be happy that he was retiring but he was sad. When we opened the package, it was a wall clock. He said that was all he got for working for over 30 years.
Even the entitlement he should have got had been used to offset his loan. The old man was extremely sad. That singular picture remained vividly in my mind and I said to myself I will never put myself in this kind of situation. When the time came to live my dreams, that picture came back. God has a way of arranging things. There is a time and season for everything. When that season came, God reminded me about some of those things. At that time then, I was about 32 years old. I took the risk because I did not have many things to lose. It is either I succeed or fail. To God be the glory, I succeeded.
You are not a pharmacist. How did you bring professionals together to run the company?
A: Anything that is worth doing is worth doing well. You don’t have to be a professional to do any business. What you need is the spirit of entrepreneurship. Once you make up your mind on a business to do, you then carry out what is needed to be successful. When I was going to go into pharmaceuticals, the first thing I asked myself is how do I lay a foundation for this edifice. Some of the things I learned I needed to do were to incorporate a company. In doing that, I needed to have clear feasibility study, to know that what I want to do is affordable and have the skills to manage it. The other was finding right partners I would run the business with, those who will take care of the technical aspect while I take care of the administrative aspect. Two of my first three staff were pharmacists. That made the difference.
Specifically, on the health sector, when you look at India, there is way that ensures that drugs produce in India are used in Indian hospitals. Don’t you think that government should specifically instruct our hospitals to use drugs produced locally?
I have been an advocate of if Nigeria must survive as a nation; we must first develop the spirit of patriotism. Our country is being rigged. It is only this country that our money is being used to procure drugs for the use of Nigerians. Rather than buying from Nigeria companies, we buy from Indians and Chinese. Everywhere else, in the world, under procure regulation, there is a rule that says certain percentage must be purchased from local manufacturers. For pharmaceutical industries, if you go to some of our teaching hospitals, Federal Medical centers, General hospitals, even for essential drugs what you find are imported drugs. Shouldn’t there be a law that says for essential drugs, only local manufacturers should supply them? During the Pre-colonial times, we were rigged by our colonial masters. Post colonial era, we are still being rigged by these people. Every country in the world is looking for countries to export their products to so that they can earn foreign currencies. We can’t even sell locally, so how do we export. If we can’t export, shouldn’t we patronize locally so that we can sustain our industries. A country that does not produce anything can’t survive.
Pharmaceutical companies have an association, what is the association doing to call the attention of the authority to this anomaly?
That association presented facts and figures asking for duties concession. We did input how to patronize local manufacturers. Nobody attended to it. They would rather do what they want to do for selfish interest. Several times, we have engaged government on things that will help the industry. The DG with Mrs. Evelyn Oputa of BOI has been discussing the N200billion pharmaceutical funds for the past 2years, but it hasn’t seen the light of the day. I get a minimum of 500 applications a week but I can’t employ one person. We say the economy is growing but not the pharmaceutical sector. Other sectors are growing
How have you been surviving?
When you have something to do, in the face of challenges you must find a way of surviving. I am running this company on behalf of the people. So I must come out with ways that will make the company survive. I bought my first house at the age of 23 for N3, 500 and bought my first car at the age of 20. I got married at the age of 23 but today things are different. If a vibrant youth finds nothing to do, nature will create jobs for them in crime and that is what is happening. There are fundamental things that are happening with the society, which must first be addressed. If there is no political will from government to back business, there will not be industries in 20 or 30 years time.
What is your share of the Nigerian market?
It is difficult to say because Nigeria is a country without statistics. If you are talking of turnovers, we can see that. Among the quoted companies, we are number two in terms of pharmaceuticals. In terms of market share, we are number one in so many products.
Fidson has been known to be neck deep in social responsibility. Given the scenario that you have painted, how has the economic instability affected the social responsibility of the company?
We can only do a token we are doing now, but we can’t afford to stop doing it because it serves as palliatives for a frustrated society. We will keep doing our best to use resources available to us, to help society. I count myself as one of the privileged in the society and unless we give back, we are not living according to the dictate of our religions.
Where do you see Fidson in the next 5years?
Fidson will continue to be at the top of the pharmaceutical industry. It will have a WHO certified factory and have qualified products that are exportable.
How do you relax?
In the morning I exercise in one way or the other, I find ways to relax.
Your wife?
She is Olufunke Ayeabe. She is a director in the company. We started this place together though she is also doing her business.
