He practically strayed into the business. When you first meet him, your impression would be that you are in the presence of a pharmaceutical giant. But Ayebae surprises you when, in response to the first question you fire at him, he states matter-of-factly that he is not a qualified pharmacist.
By training, I’m an engineer, he says. “I read engineering and then strayed into banking. I was at Nigerian International Bank, now known as Citibank, for about eight years. And when I left the banking industry in 1991 to 1994, I was an importer of chemical and all kinds of industrial appliances. These, I supplied to bottling companies, textile mills and chemical manufacturers. But when I didn’t find fulfillment in all these, I decided to look for new adventures. So, late 1994, I came across a couple of friends to whom I mentioned my frustrations.
“Then we began to brainstorm. The result of our brainstorming session is what we have today Fidson. They advised me to go into pharmaceutical products and that’s what I’ve been doing since 1995, trying to make a living from the pharmaceutical industry.”
Although drug manufacturing is a highly technical venture, which requires a high degree of expertise to manage, Ayebae revealed that his transition from banking to manufacturing was smooth.
“Initially, I was considering real estate, food processing and transportation. But ultimately, pharmaceuticals turned out to be the winner. It won because it is a service industry. Secondly, I chose pharmaceuticals because it would eventually lead one into manufacturing, which has always been my dream. So, when the opportunity came, I quickly grabbed it. In fact, in the beginning, it did not cross my mind that we were heading for something this big. But I’m happy we started manufacturing. And this is good for our country because manufacturing is the bedrock of any economy. Sooner or later, a country that does not manufacture but is import- dependent will run into problems”.
Like an excited salesman with a fast-selling product, Ayebae says the secret of his success when he stared Fidson is that he assembled a team of capable and experienced managers.
“I’ve always believed in the philosophy of using the right people,” he adds. “For you to make a head way in the pharmaceutical industry, you have to hire experienced professionals. Rather than bring in every Dick, Jack and Harry, we went for the highly rated processionals. In the first month of operation, we employed three pharmacists. That was way back in 1995. So, the input of professional can neither be discounted nor de-emphasised in this business. We allowed them to do their own thing, giving them freedom to perform. And that I can tell you, is essentially the secret of the success we have recorded so far.”
To most pioneering chief executives, starting off is always difficult, especially raising the initial capital, importing the right machinery and a litany of other problems. But to Ayebae, all these are not obstacles. As a go-getting chief executive burning with the spirit of enterprise, these were challenges which must be confronted and surmounted if success was to be recorded.
“Incidentally, raising the needed capital wasn’t a headache because I had been in business for some four years after I left banking before Fidson started. So I had the funds. But my greatest headache was not knowing what to do with it. It was also easier because we started as marketers, we didn’t go into manufacturing straight away. Between 1995 and 2001, we were marketing other people’s products. For us then, marketing other people’s products. For us then, marketing was just a means to an end. But like every aspect of trading, the pharmaceutical sector has its own problems.
“One of the greatest challenges we faced as a pharmaceutical trading company then was competing with unscrupulous players in the sector. But an ethical company, we did things ethically and today, it is paying off, moreso when we started manufacturing. But then, it was an uphill task competing with these unscrupulous importers who were bringing fake or sub-standard drugs and who had devised different unorthodox ways of marketing the products. The other challenge was that of registration. People do all sort of things to get registered. But in our own case, we went through the pains of registration. This means that we had to wait for between six and nine months or even 12 months in order to get a product registered before introducing it into the market.”
As a successful marketer, you ask Ayebae to give his definition of marketing and he says, “To me, marketing in the pharmaceutical industry means selling pharmaceutical products in an ethical manner using professionals. Marketing in our industry means selling to doctors, hospitals, government, health institutions, government and other allied health related organisations. Marketing is more strategic than regular trading in this industry. We don’t sell to everybody. Selling our product in the manner approved by the regulatory body is what marketing means to me.”
With a lean staff of about 10 when it commenced operation as a marketing firm in 1995, today, Fidson has transisted into a big manufacturing firm. Since the company commenced manufacturing, Ayebae has been facing new challenges, but he has remained undaunted. According to him, “running an industry in Nigeria is like life itself because life is full of challenges. As human beings, I’m sure daily, we face a lot of challenges, yet that has not made us lose hope. Rather than give up, we often raise up our hands and pray to God.
As a people who hope to one day achieve our dream, we have to remain focused, to remain on track and pursue our goal. Yes, it has not been easy, but life itself is not easy. If you look at the developed countries, they also went through what we are currently experiencing before they have their breakthrough. All we need in this country is the political will to do what we ought to do. So, that ,the few industries that are operating would not pack up.”
With a tinge of homour, Ayebae likened the problems affecting industries in Nigeria to common malaria. “Every industry in this country is having malaria fever. The infrastructures are just not there. It is either there’s no electricity or water to manufacture. As an industrialist, you need to be self-sufficient before you can operate. You’ll even tar government roads that lead to your factory. But then, that’s the part of the price we have to pay in this part of the world. The people I pity most when it comes to the state of industries in this country are the masses. They’re the ones bearing the brunt of this mismanagement and lack of focus.”
But with the advent of democracy, Ayebae believes that things would begin to take shape. He says: “Industries are beginning to find their feet. Funds and other scarce resources are beginning to come in. Grants are now being made available through the SMEs and the Bank of Industries. The government is also assisting through the Nigeria Investment Promotion Commission. A lot of foundational things are taking place now. I hope the impact would be felt in the text 10 years.”
As a novel drugs manufacturer, you’ll think Ayebae would be intimidated by the larger than life image of the giant multinationals operating in the sector. But he says no. He compares Fidson Healthcare to David while the multinationals are just Goliath, alluding to the test of brawn by the two gladiators in the Bible. “We’re not competing with anybody. When we came into this industry we met a very virgin land. We saw an open field ahead of us. Yes, there are old players, mainly multinationals and a few indigenous firms that were waiting to pay the price for building a future for the pharmaceutical industries. Yes, we began operation when there’s recession in the country. But what we did was to have a clear plan of how to approach the market. So, competition didn’t pose any problem to us”.
As CEO, Ayebae, unlike most corporate chieftains, reveals that he does not run his organisation in conformity with any of the known management theories because most times, management theories don’t answer daily experiences. “I’m a hands-on kind of person,” he says: “I run this company by allotting responsibilities to specific individuals who must be professional in their spheres of operation. And they must be able to deliver. I tell you what my dreams are and you tell me your own terms. Then we sit down and work it out.”
Perhaps, the biggest headache in the pharmaceutical sector today is fake drugs that are either imported or produced in the country and sold to unsuspecting consumers. Has Ayebae ever imagined a situation when his products would be faked? He said: “We know that some of the products are being faked, but we’re addressing the matter head on. This is a problem every responsible organisation must address. Apart from the fact that it’s a disservice to their products, fake drugs also pose a danger to life. So the only way we’ve thought of assisting NAFDAC is by making it difficult for people to fake our products. We’ve introduced a system of packaging that would be very expensive for the fakers to copy”.
Probably to allow him to concentrate fully on the building of his organisation, Ayebae ensure that all members of his immediate family are based abroad. But he communicates with them on a daily basis.
And after a hectic working day, how does Ayebae relax? “I don’t have any hobby. I don’t go to parties. I don’t socialise and I don’t belong to any social club. I’m an introvert. The only time I relax is when I’m in the church. I like singing and dancing to good gospel music. I do these three times a week. Apart from that, I’m too busy building Fidson Healthcare.”
