“There are a lot of business opportunities in Nigeria,” claims Alfred Ayotunde Jagun, CEO of Nigerian-owned Stag Engineering. “Especially in Nigeria’s thriving engineering sector, in which Stag Engineering is a major player.”
The engineering sector plays a vital role in Nigeria, where industrial developments lie at the heart of economic growth. The nation’s abundance of natural and human resources are central to maintaining its clout as an economic powerhouse and must be utilised properly by those in the industry if its potential is to remain unspoiled for future generations.
Stag Engineering has “been in the business for around 40 years now and, since establishment, has launched bold initiatives in areas of power generation, transmission, distribution and sales to cope with the challenges in the Nigerian power sector”. Jagun spoke to European CEO on how the Lagos-based company has grown with Nigeria’s economic development, recognising that the company’s progress is inextricably linked with that of the wider economy. The veteran company is indicative of the perseverance that must be exercised by companies looking to expand their service offering to a country like Nigeria, which is considered to be fertile ground for investment and a fruitful region for economic growth.
Rising to the challenge
“There are very few companies that have been able to withstand the harsh business conditions in Nigeria for so long,” says Jagun. “This comes with experience, diligence, honesty and hard work, which sets us apart from other indigenous and foreign engineering companies. We are also proud of the fact that we are a wholly Nigerian-owned company.” Such competencies and experience have seen the company named as European CEO’s Best Engineering Company, Africa this year.
According to Jagun the country’s thirst for development and expansion is not exclusive to enterprises, but extends to the Nigerian government, which has sought to rectify many of the country’s infrastructural inadequacies.
“We are of the opinion that many of the country’s infrastructural problems can be solved with proper planning and implementation processes,” says Jagun. “The government have by and-large installed the necessary regulatory policies so that the required infrastructure being provided is properly utilised and well maintained.”
However, despite these efforts, Jagun concedes that there is still a great deal of progress to be made if Nigeria is to emerge from its past experience. “There are a lot of challenges at present in the Nigerian power sector. For example, the lack of adequate gas pipelines for transporting gas to various thermal power stations and industrial hubs across the country,” says Jagun. “For this reason, the government is making an effort to invest in the provision of necessary infrastructure to improve supply and is also ensuring that necessary transmission lines are built so that electricity can be efficiently transmitted across the country.”
Stag Engineering’s relationship with its clients, partners and several government bodies is second-to-none in the field of engineering, “We’ve benefited a great deal from their support and patronage, this is very important to us as the company’s goal is to ensure our services extend to all corners of the country.”
Speaking about the company’s place in the Nigerian engineering sector, Jagun says “Our services are different from those of our competitors because we’re entirely committed to our customers’ growth and satisfaction. We stock adequate spare parts, provide after-sales support services and ensure that training is provided on the operations and maintenance of the equipment to the highest standard. We establish a relationship, visit on a monthly basis to check the performance of the equipment and update clients with current developments as it affects their equipment.”
Stag’s commitments lie with the wider development of Nigeria, and with each of its clients: “We believe in building on past achievements and making continuous improvement in our process and service offerings. This has also helped in ensuring company growth,” says Jagun.
Power up
“The overall performance of the company over the years has been increasing with excellent turnover and an expanding customer base for all sectors of focus,” says Jagun. “We have retained our competitive edge in the supply and installation of quality electrical power generation equipment and accessories in both domestic and industrial markets.”
The importance of partnerships is paramount in Nigeria, wherein companies have been left isolated in the past for lack of adequate infrastructure, technology advancement or business connections. Speaking on strategic partnerships, Jagun claims, “they are especially important in keeping apace with the rate of technological development.”
As a leading provider of power generators and mercantile power in Nigeria, Stag Engineering has formed relationships with several power generator manufacturers such as SDMO, John Deere and MTU (a member of the Rolls-Royce group) to name but a few. “Our relationships with our partners have grown and developed over the years and through them we have maintained the high standards asked of us by the international community.
“We’ve taken on a number of big projects in our 40 year history. For instance, we’ve worked extensively with the World Bank, UNDP, the Nigerian government, several corporations, industrial development firms, telecommunications companies, banks and hospitals in supporting energy projects across Nigeria.”
Stag Engineering’s commitment to partnerships surpasses the bounds of business and extends not only to their clients, but also to the wider communities in which they work and operate. In this vein, the company hosts a number of seminars and workshops every year to educate on the role of the power-sector in spurring economic growth.
“We’ve put a training programme in place so that we can educate our staff and the staff of our clients to ensure they’re kept abreast of technological developments and are up-to-date with maintenance methods.”
Inventive pursuits
Stag Engineering not only remains an influential player in spearheading matters of corporate social responsibility, but also in pursuing new and innovative ways of conducting business. “We’re assembling and introducing new electricity smart meters in the market. They will save up to 90 percent of electricity energy transmission losses and are safer to assist those in power distribution industries. For this reason we consider ourselves pioneers in the field.”
Stag Engineering’s services span an array of industries across Nigeria and West Africa; the company currently delivers 100mW of mercantile power to its many and varied clients, as well as having recently expanded into the marine and mining sectors.
The services offered “not only in the power sector, but in engineering consultancy” offer an insight into the efforts of a great many Nigerian enterprises in spurring wider economic growth. Regardless of a widespread withdrawal from emerging markets, the efforts of Stag Engineering and those like them present an exciting opportunity for those willing to invest in Nigeria.
Culled from European CEO
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