How I grew from selling lubricants in gallons to owning a company –AMMASCO Group Chair
Alhaji Mustapha Ado Muhammad, Founder/Chairman of AMMASCO Group, has revealed how he grew his business from selling lubricants in gallons to owning one of the largest blending plants in Nigeria.
Coined from the founder’s name, AMMASCO stands for Alhaji Muhammad Mustapha Ado Supply Company.
Speaking in an interview with BBC Hausa service, Alhaji Muhammad shared how he struggled, failed, lost capital before the business eventually transformed into one of the leading lubricant blending plants in Nigeria.
He said, “We struggled, suffered setbacks, lost capital, but in the end, it is all thanks to Allah. We have made progress.
“There are still a number of challenges. In the first place, the business itself is time-consuming, in that almost 95% of one’s life is dedicated to the company. You hardly have time for yourself. Rising cost of electricity is also another challenge. We have also increased the salary of our staff.
“On top of all these, there are foreign companies supplying products from Dubai, China, etc., who do not go through these challenges of power or manpower.
“From the side of the government too, the tax has been increased. The Federal Inland Revenue Service charges based on turnover amid the country’s currency’s devaluation. Even if you haven’t made or realised any profit, they will still come up or look for other avenues.”
Speaking on how he started the business, Alhaji Muhammad said he conceived the idea back in his secondary school days when he would use his break to explore business ventures.
“Back in my secondary school days, I seized opportunities during our holidays to engage in different businesses. I have garnered a lot of experiences, and that broadened my mind on the business path I should pursue and which I shouldn’t. And I decided and settled for the lubricants. I started from selling the lubricants in gallons, then progressed to drums and eventually to a time I could afford a tanker. I am now the Chairman of the Lubricant Producers Association of Nigeria (LUPAN).”
