Oyin Jolayemi’s journey exemplifies resilience, strategic thinking, and unwavering determination. Born in 1940 in Iludun Oro, Kwara State, his rise from humble beginnings to becoming a leading industrialist is an inspiring story of perseverance and vision.
Early Struggles and Entrepreneurial Spirit
From a young age, Oyin displayed a strong entrepreneurial mindset. He engaged in various small-scale trades, including mat-making, basket weaving, and sieve production. Despite encountering numerous setbacks—including being deceived in business—he remained undeterred. To secure his earnings, he resorted to hiding his savings in a concealed box, a tactic that helped him avoid future financial losses. As the last child in his family, he faced significant educational restrictions. His father, opposed to formal schooling due to religious concerns, kept him from attending school. Left with few options, Oyin immersed himself in mat-making.
At the age of 13, driven by ambition, he left his hometown for Lagos in search of better opportunities. He started as an errand boy, selling dusters and handkerchiefs on the bustling streets. Eventually, he rented a small kiosk on Reclamation Street, marking the beginning of his business endeavors.
Transitioning into the Pharmaceutical Industry
When his initial business slowed down, Oyin adapted quickly. He learned the art of selling patent medicines from a neighboring shopkeeper—a woman who specialized in pharmaceutical products. He often assisted her in sales, gradually acquiring valuable industry knowledge. Eventually, she transferred her shop to him when she expanded her business elsewhere. Seizing the opportunity, Oyin officially entered the pharmaceutical trade and obtained a business license to operate legally.
Founding Daily-Need Industries
Building upon his experience, Oyin established Daily-Need Chemist on Nnamdi Azikiwe Street, Lagos Island, in 1968. This pivotal moment marked the genesis of Daily Need Industries, a company that would grow into a major player in Nigeria’s pharmaceutical and healthcare sector. His ability to adapt, innovate, and expand solidified his reputation as a business leader.
Expanding Horizons Through Global Exposure
Understanding the value of continuous learning, Oyin embarked on international business trips, visiting 16 countries, including France, Germany, Japan, and Hong Kong. His travels exposed him to advanced business models, product packaging techniques, and global industry standards. These insights helped him enhance his company’s operations and competitiveness.
Legacy and Advice to Young Entrepreneurs
Oyin Jolayemi’s contributions to Nigeria’s economy are vast—creating employment, driving industrial growth, and setting a benchmark for business excellence. Reflecting on his journey, he attributes his success to hard work, persistence, and patience. He urges young entrepreneurs to cultivate these values and steer clear of detrimental activities such as cultism, internet fraud, and ritual killings.
As he looks back on over five decades in business, Oyin remains optimistic about Nigeria’s economic future, believing that entrepreneurship and resilience are key to overcoming challenges. His legacy serves as a powerful testament to the rewards of perseverance and strategic vision in the business world.
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