Political Economist can now report authoritatively the true identity of the Chairman of Yudala, Nigeria’s first true composite online and offline retail chain which entered the nation’s retail market recently with a bang and unprecedented market churn. He is Mr. Sam Ojo. In an online chat with the media from his base in the United States, the strategic technology consultant and one-time Chevron Head of Management Information System noted that Yudala is a movement in e-commerce and offline retail business orchestrated by distinguished professionals from various nationalities and spheres of business. This has put an end to media speculation on the ownership of the retail empire which in just a matter of weeks of hitting the scene has created ripples in the nation’s retail horizon.
The company had launched its annual Neighbour to Neighbour Mega Deals promotion from September 21st till October 2nd, with thousands of enthusiastic shoppers trooping online and to the Yudala stores to take advantage of the mouth-watering deals and extended payment terms for individuals, cooperatives, corporate organizations, educational institutions and government establishments.
“Yudala is structured to dictate the pace and within one year of our existence, Africa’s digital commerce and offline divisions would have had a handshake on the delivery of quality products and services that Africans wished for, paid for and rightly deserve. We shall continue to unfold our innovative products and services for the benefit of all Nigerians, including government establishments, co-operatives, corporate bodies and individuals. Yudala is possibly the first true investment platform where professional Africans in the Diaspora, foreign business partners and other Nigerian-based major corporate players have come together in a well-structured business and with huge funds to invest. This is why we must roll out across Africa.”
Mr. Ojo also disclosed that Yudala is focused on creative employment for thousands of Nigerians and Africans by extension through its entrepreneurial scheme known as YUBOSS.
“The launch of YUBOSS will reveal a little bit of our corporate philosophy. YUBOSS is a league of emerging entrepreneurs who want to be their own bosses. Through YUBOSS, we are offering people a chance to become millionaires without investing a dime. We have test run the scheme for one month and I can confirm that a young lady, one Mrs. Tina George who stays close to our office was paid over a N100, 000 commission (Dala) last week for a 10-day effort in selling from our inventory. Her only investment was her commitment. This is the way new economies are built.
“With Yudala, there will be many millionaires in Nigeria in the next one year. We estimate millions of Nigerians will join this scheme by the time we officially roll it out next week. I assure you that your wives, brothers, sisters, students, the unemployed, under employed, etc. will be a part of this scheme which will reduce pressure on families. Everyone will earn income and hardworking students will be able to see themselves through school without outside assistance.”
“Though still based in America, myself and Mallam Farouk Mohammed, former OPEC Executive Management member, represent majority investors on the Yudala Board and I can confirm that we are not in a hurry for huge profit. This is why we are mandated to partner with Yudala employees.
“The Yudala strategy is profit sharing with all employees and another reasonable percentage will be dedicated to support charity organizations in every country we do business in. Every investor in Yudala voted for this and our consultants are working out modalities based on each country’s tax structure. We are therefore not here to exploit Nigerians and fly profit out of the country since majority shareholders are Africans.”
When asked what percentage of Yudala annual profit will go to staff, Mr. Ojo revealed that a substantial figure has been agreed for this in line with the desire for quality human capital to deliver on shareholders’ expectations.
“Our bond with staff does not end with profit sharing but shall continue with our listing on the Stock Exchange and beyond. We are a company with assets and not just an e- commerce platform and that is why we have a composite structure. We have presently rolled out 13 stores nationwide in seven weeks with great retail ambience like no other at the moment and I can assure you by this time next year, we would have reached the 50 store milestone with same standards.
“We are here to dictate the pace and in line with this, we will review our market influence with the Press in the next one year. It is important to mention that our strategy is 21st century focused and completely different from what currently exists in the sector,” he concluded.
