Thirteen firms and individuals shone brightly on the night of many stars at the 2024 BusinessDay Nigerian Business Leadership Awards, held on Friday, November 29, at the Federal Palace Hotel on Victoria Island. The venue was the capacious and exquisite Balmoral Hall.
Benedict Peters, oil and mining leader and Founder/CEO of the Aiteo Group was named the Businessperson of the Year.
Ambassador Amaka Diane Okeke, Executive Director of Optiva Capital Partners, emerged as the Inspirational Female Executive of the Year.
Daraju Industries Ltd was named the Business Leader of the Year, FoodCo Nigeria Ltd. was named the Retailer of the Year, and AquaEarth Consulting was named the Environment and Geoscience Consulting Firm of the Year.
UAC Foods Ltd won the “Outstanding Contribution to Consumer Satisfaction and Innovation in Convenience Foods of the Year” award.
Vava Furniture won Best Furniture Company 2024, Tetracore Energy Ltd won Innovative Sustainable Energy Provider of the Year, and Furex Technologies Limited won Best Cryptocurrency Exchange of 2024.
TAJBank Ltd won for Outstanding Leadership in Non-Interest Banking and Financial Inclusion, while TrustBanc Holdings Ltd emerged for the Innovative Financial Solution of the Year.
Integrated Indigo Ltd emerged as the Outstanding Integrated Marketing Communications Firm of the Year.
BusinessDay publisher Frank Aigbogun told the awardees that the NBLA aimed to “shine the light on the great work you do.” BusinessDay dug deep into the market when “data is not publicly available” to determine the winners.
Critical Success Factors of BusinessDay 2024 Nigerian Business Leadership Award Winners.
It was like a capsule MBA class listening to the brief citations of the winners as they stepped out to the podium. They were adept at their core competencies and strategies. In the wake of the challenging Nigerian business environment since May 2023, the firms and individuals also demonstrated adaptability and resilience.
Their core critical success factors were:
1. Vision, innovation and disruption.
2. A culture of trust, transparency, and accountability driving inspiring leadership.
3. Exceptional craftsmanship, innovative designs and commitment to sustainability.
4. Environmental sustainability and eco-conscious practices.
5. Financial inclusion and simplified processes to make crypto understandable.
6. Commitment to quality, value and focus on local sourcing.
.7. Market expansion through new products, job creation, and local content development.
8. Client-centric approaches.
9. Strong brand recognition as the canopy for quality and innovation.
10. Justice and trust as the foundation for financial services.
11. Deployment of advanced digital platforms and adaptability to market trends.
12. Exceptional brand storytelling and innovative campaign execution.
Benedict Peters founded Aiteo to operate in the oil and gas sector. He then expanded into mining with Bravura Holdings, an emerging mining powerhouse in over twenty countries, including Nigeria, Ghana, and South Africa. Aiteo’s milestones include introducing the Nembe Crude Blend. Bravura mines platinum, uranium and thorium.
Ambassador Amaka Diane Okeke is a seasoned wealth management professional and Optiva Capital Partners Executive Director. She promotes transparency, accountability, and continuous improvement.
Daraju Industries is an emerging lead player in FMCG but hidden in plain sight. Daraju’s portfolio is broad and growing. It manufactures and distributes a wide range of products, including:
• Personal Care: Soaps, body lotions, and hair care products.
• Home Care: Detergents, cleaning agents, and air fresheners.
• Oral Care: Toothpaste, toothbrushes, and mouthwash.
• Baby Care: Baby wipes, diapers, and baby lotions.
• Stationery: Pens, pencils, and other stationery items.
Daraju seems poised to fill the voids created by the exit decisions of Unilever, PZ Industries, and other long-established players in Nigerian FMCG.
FoodCO is a Top Five retailer in Nigeria. It operates supermarkets and quick-service restaurants and is involved in manufacturing and entertainment. FoodCo has 22 stores across South-West Nigeria. The Financial Times listed FoodCo as one of Africa’s Fastest Growing Companies (2021-2022).
In 2024, the cryptocurrency market reawakened in Nigeria and worldwide, enabling Furex Technologies to be named the Best Cryptocurrency Exchange of the Year. Furex offers a user-friendly platform, enhanced encryption protocols, and diverse payment options.
TrustBanc promises a money market fund that is “not too risky, not too conservative,” with earnings up to 21 percent and non-interest investments.
The BusinessDay Nigerian Business Leadership Awards recognise remarkable business leaders and organisations for sustained commitment to excellence in enterprise. The NBLA honours private sector leaders who have:
• Made significant contributions to the Nigerian economy.
• Shaped the Nigerian economy through significant strides in homegrown innovation and opening new vistas of opportunity.
• Demonstrated visionary capacity and nationalism through their investments, thereby pushing Nigeria’s rise in the global competitiveness rankings.
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