Sijibomi Ogundele : My High School Teacher Who Called Me Dumb, Now Works for Me

He’s got the wow factor. He is just 33 with a timepiece (a Patek Phillipe) of more than N23 million on his wrist. A dreamer and an achiever of immense proportion, and a die-hard believer in Nigeria. Gentlemanly, gracious and brimming with innovative ventures, he has his eyes on completing 500 private compounds of four-bedroom houses and 1,500 apartments, with schools, supermarkets, and leisure parks by 2020. This is designed to be the most beautiful estate in Africa. And fittingly, he has named it after his mom: ‘Adebukola Estates’. He is a young man whose high school teacher once told him that he couldn’t make it in life; he was considered too stubborn and too dumb. But for a guy with grit, no mountain is too high. Meet Sijibomi Ogundele; the man who said meeting Dr. Sujimoto Koga, a Japanese in Tokyo, turned his life around. Stubborn but not dumb, he now has that former teacher on his payroll. He is the founder and lead partner of Sujimoto Group of Companies which deals in real estate, finance and energy. The firm has offices in Paris, Accra, Madrid, Dubai, Riyadh and recently, Lagos. However, there’s more to Sijibomi than meets the eye. Self-assured and effervescent, Ogundele shares more about himself and what drives him in this interview with Azuka Ogujiuba

When Luxury is no Frivolity...
“Yes, I have a Patek Phillipe that cost $150,000. I bought it for my grandson.”
This was the response of Sijibomi Ogundele when asked about the most expensive luxury item he had ever bought. And he was perhaps living the message of the watch’s advert which tells whoever buys it that it is for his or her grandchild as one generation cannot finish using the item. Does that connote frivolity? Not really. It only speaks of class; class that was built over time and nurtured by hard work and consistency. That is the world of Sijibomi, also known as Sujimoto. He has his hands in so many juicy pies like real estate, energy and international finance.
Presently, his company is building a luxury estate in Ikoyi called the Medici Terraces and he says when completed, it will blow many minds away. Switching to Yoruba, his mother tongue, he asks the reporter if she has ever heard of the word yeparipa. He says it literally means “wow!” A sign of exclamation at something that has not been seen before and he admits that some people are already saying Medici is too costly and extravagant.
“Medici Terraces is located on Milverton road, Ikoyi and it has redefined what Terraces are known for. Its finishing and additional features put it in a class of its own. Our critics say it is too costly and extremely extravagant while our competitors think we would go bankrupt but our clients are amazed. The beauty and quality of what we have caused a certain lady to sue her developer when she compared our price and quality of finishing to what she bought from a developer on Bourdillon Road; she felt cheated and decided to seek a court redress. Do you know the Yoruba expression ‘Yeparipa, ki l’eleyi?’
“That’s the impression the terrace would give to anyone that sees it. No building would outmatch its architectural configuration and finishing in Africa. We hope to have it ready before the end of 2016.”

When the Bottom is too Crowded...
Sijibomi likes to live in his own world. But it is a world he created for himself through hard work and grit; and the determination not to be a failure. In his words, he chose to stay at the top because the bottom was crowded. His decision, however, was predicated on a trip he took to Japan some years back. He takes up the story:
“My visit to Japan played a tremendous shift in my mentality, my beliefs and life in general. This gave me an opportunity to know that life is a choice: you’re either down or up. And I decided to stay up because I believed the bottom was too crowded.”
Drawing inference from the miraculous transformation that was the hallmark of the Dubai success story, Sijibomi believes that in real estate, the man who wins is the man who takes himself beyond the ordinary and employs creative thinking.
“In real estate, the man who pushes himself beyond the limits and employs creative thinking is bound to win. Several years ago, I visited Dubai and I saw a country with its prevalent vast desert and landmass but through sheer creativity and grit, they’ve turned it into a global megalopolis. That trip and subsequent ones taught me characteristics and fundamentals of the development process.”

In Real Estate, Details Matter...
If there is one issue that has been troubling the real estate sector of the Nigerian economy, it is the issue of quality. There have been building collapses across the cities with lives being lost and investments going down the drain. Sijibomi says if there is one sector where the expression, the devil is in the details, assumes a statue of impeccable truism, it is in the real estate. Miss the details, and you are sunk.
“Developing quality real estate is not simply putting blocks and mortar together. It is a bit more than that. What separates mediocre building from a masterpiece is based on the attention the contractor or developer devotes to the overall finishing and slightest details in that particular structure. By detail, I mean precision and strict adherence to measurements, angles and even textures. From my experience, I’ve come to realise the major challenge regarding the standard of quality in real estate is lack of skilled labour.
“Even if you have the best materials but the wrong set of hands, it will still turn out in shambles. This is because they do not have sufficient knowledge on how to execute the task at hand. At Sujimoto, we have been able to tackle this challenge through our recruitment process. We only employ competent workers who adhere to best practices and appreciate the importance of precision without compromise. In addition to this, we have incentives in order to motivate our workers and boost overall performance.”
Sijibomi says the unstable nature of the real estate world is as a result of the rising cost of land and building materials and this ultimately affects the cost of construction. According to him, hardly can someone say for sure how much a project will cost. He does not, though, fail to mention speculative pricing; a situation whereby a builder will be guessing cost of materials without verifying through prevailing market indicators.
“The issues of expensive cost of land, unpredictable cost of building materials are key factors that affect the price of construction which implicitly affect the value of a real estate. Speculative pricing is also a culprit and can sometimes result in exaggerated opinion of the value of a real estate. When you add speculation to the common trend of inflated cost of construction, we lose the intrinsic value of the property. A rational builder would solve this problem by building at a fair price and making a profit of not more than 30%.”

“We Will Surely Get There...”
And as far as the business of real estate is being done, Sijibomi believes Nigeria will get there but developers have to play their own roles.
“We will get there. You see you can’t change a person without changing his beliefs. Unleashing the potentials of architects, quantity surveyors, and town planners has a tremendous role to play in our quest to meet international standards in development and competition. In a town of about 2 million or more buildings, we only have about seventy 10-floor buildings. This is a shame. In Dubai, commercial areas without an architectural plan work for a minimum of 30-storey building would not be approved. In Lagos, it’s the contrary.”
While he believes that this could be improved, he also laments that the nation’s Gross Domestic Product could not be empirically ascertained due to lack of information and statistics.
“Nigeria’s GDP is extremely underestimated due to lack of information and inaccurate measurement of the database. Nigeria, with her vibrant 170 million ambitious people is one of the most blessed countries in the world. We, as a country, possess the potential to support Africa as a whole. All vital indicators show our GDP is currently experiencing an increase with double digit growth and majority of the statistics out there support this assertion. Unfortunately, our GDP growth has had very little impact on the quality of life of the general population. I remain optimistic about Nigeria’s prospects and growth.”
Sijibomi believes that the issue of rent payment on two-year basis is more as a result of the fact that most landlords finance their buildings totally from their own pockets unlike other climes where there are low interest loans to finance building construction.
“Taking more than six months for house rent is only done in this part of Africa. The government has enacted laws against such acts but has also done very little to enforce them. Do not blame the landlords too. The cost of construction is financed 100% from their pocket. This is unlike in the Western world where flexible single digit interest rate policy exists. On the hand, most banks here, that’s if they approve your loan after all your collaterals, a 12-month loan is at a stiff 20-something per cent interest rate.”

“In Nigeria, I Have my Hope...”
“Give me $1billion today, and I will put all my eggs in one basket. This is a classic case of calculated bravery which is very essential.”
Those are the words of Siji which underscore his unflinching hope in the profitability of the Nigerian market. Does he think business across borders have better potentials than in Nigeria today?
“I will always bet on Nigeria; the definitive potential rests here in Nigeria and Africa. To buttress my point, look at the Chagouri family and many other expatriates who live and work in Nigeria. They’ve contributed to the Nigerian economy but then Nigeria has been good to them also. They didn’t come to Nigeria because the weather is pretty or the conditions are best.
“Instead they had foresight on the potentials and the opportunities that lie in this our great nation. A lot of countries can’t match Nigeria in terms of profit generation and revenue allocation. For this reason alone, we can see why an industrialist and business tycoon such as Alhaji Aliko Dangote, the richest man in Africa, and insha Allah, the richest in the world by 2020, has 90% of his income from one country.”
Even with the fact that real estate has gone far in the country, this entrepreneur still has shivers when he sees some estates in the other parts of the world. He specifically mentions one in south of Spain, the Sotogrande. But he believes that an estate he is constructing now and due to finish by 2020 will compete with Sotogrande.
“Sotogrande, which is the largest privately owned residential development in south of Spain, marvels me. The serenity, the beauty and the architecture surpass explanation. Before the end of 2020, we would have completed ‘Adebukola Estates’ aptly named after my mum. We have already started talking to the same architects from Sotogrande. It would consist of 500 private compounds of four-bedroom houses and 1,500 apartments. The schools, supermarkets, leisure areas would be unquestionably outstanding. Lagos State would have the opportunity to have the most beautiful estate in Africa.”

One Meeting that Changed Everything...
Sijibomi speaks about a meeting he had with a Japanese that changed his life. It was not just the meeting that effected the positive change in his life but the advice he took from the Japanese which turned out to be invaluable.
“Sujimoto san (san in Japanese means Mr.) is the uncle of a dear friend of mine, a Japanese girl I met in Nice, France and she convinced me to further my life and education in Tokyo. As you know, my name is Siji, meeting Sujimoto in Tokyo was a great coincidence for me and instantaneously,w I was drawn to him. He became my mentor. He instilled in me confidence and educated me on the benefits of self-improvement. He always reminded me that my present or past circumstances have very little to do with my future. What guarantees my future is my ability to dedicate myself to excellence. He told me Jesus loved the world but chose only 12 people. Suji is a real friend that is better than a hundred fake ones.”
Sijibomi has been carrying on this aura of self-belief all along. And that is why he does not believe those that say some dreams are not possible. To him, big dreams need to be pushed because they do not become reality by chance.
“To think that my dreams are outlandish is the difference between an individual that understands the total clarity of his values, importance and talents and one who just sits and imagines he would get to the top. Big dreams do not come to reality by chance; they take determination, dedication and doggedness.

“When Tinubu was campaigning to become the governor of Lagos State, many critics said his dreams were impossible because his promises were unachievable. Today, Lagos State through hard work and dedication has overcome her challenges and consequentially brought wealth to Lagosians. From year 2000, the state has created more home owners than all the remaining 35 states in Nigeria put together.
“Sujimoto is determined, focused and hard at work. You see, impossibility, for us, is a myth.”
And that is why he says the most lucrative of his businesses is finance because of the high return on investment.
“But the fun is in real estate where you start from imagining what you want to build and start laying blocks and mixing concretes. Finance is extremely lucrative when you look at the allocation of time and return on investment. But real estate is creative by using your imagination. It is challenging and –permit me to say –fun. It is enchanting how you mix concrete, place blocks, paint and utilise other materials together to form a building. The ability to visualise a structure and replicate it in real life is a source of immense pleasure for me.”

Sijibomi, the Man, his Indulgences and his Life...
They say you can tell a man’s personality from the type of shoes and wristwatches he wears. Good summation but it does not define Sijibomi. To him, standing out is not about what you wear but the values you stand for.
“Shoes and wristwatches are not enough to tell a man’s personality. But it is always important to have good tastes. My style is classic and my idea is to remain as gentlemanly as possible. I stand out not because of what I wear but what I stand for.”
Siji says he does not sleep but he is also happy that he is blessed with dedicated managers who understand his way of doing things and help him do them. And incredibly, one of his consultants is a teacher who once said he might not make any head way in life. It was an experience he will never forget.
“An experience I would never forget is when a high school teacher always told me: Olasiji Ogundele, you would never amount to anything. You are too stubborn; you are too dumb. Today, this teacher works for Sujimoto construction as one of our consultants.
“My dad is from Ilesha (in Osun State) and my mum Ijebu-Ode (Ogun State), a great combination that has positively contributed to Sujimoto. My mother is a top distributor for Nestle; she is my friend, my heroine and my business mentor.”
His greatest fear, though, is poverty.

“Poverty to me is the number one ingredient of failure. Poverty of the soul, imagination and most importantly of lack is my number one fear. A man can have all the money in the world but he might be poor when it comes to love.”
Sijibomi says his one ‘extravagance’ is that he is generous to a fault and that generosity does not mean that his money goes to any church or mosque but to the needy and to hospitals, schools and motherless babies’ homes and also widows.
What will his biggest pain be?
“When I see a rich man living amongst the poor and he refuses to do something. I find it devastating and extremely infuriating.”
His best moment is when his competitors conclude that what his company is doing is amazing and his clients are satisfied having got a good deal and in the end he gives God all the glory. And Sijibomi wants to change something about himself. What is it? You may ask. Oh, it is the fact that at 33, he is not married. And he has to do that quickly because the Patek Phillipe that cost a $150,000 has to be inherited by a grandson and there must be a child before a grandson.

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