Abubakar Sadiq Mohammed Falalu, a 31-year-old Nigeria established and runs his own rice production and milling business in Kaduna State, northern Nigeria.
Falalu, began his business in 2016, enthused by the Nigerian government’s Agriculture Promotion Policy that aims to boost local agricultural production and agro-processing to reduce food imports.
Falalu is the founder of Falgates, a company that farms and mills rice. Falgates’ rice milling facility that has a capacity of 15 tons per day with a total annual capacity to produce more than 5,000 metric tones and a variety of rice products.
Falalu saw an opportunity to make money when he realized Nigeria consumes about seven million metric tonnes of rice and only produces 2.7 million metric tonnes, forcing the country to spend more than $2 billion in imports. “I always had an interest in farming, I remember writing in our high school’s yearbook under feature ambition that I wanted to be a farmer,” he said to ricenetworks.
He holds a degree in Management from Swinburne University of Technology, Australia and master’s degree holder in Entrepreneurship at the University of Nottingham Ningbo China (UNNC) in 2014.
The passionate farmer has always been a lover of farming even with his degrees abroad. He is very hardworking and vibrant in his bid to continue investing in Nigerian youths and the economic.
In an interview with Infodigest, Falalu mentioned said, “I used to be new to the enterprise, I had no profession; simply a number of levels and little sensible information. We have been eight workers, together with me and the safety employees, studying the best way to run a manufacturing facility with out expertise”.
He further explained how they bootstrapped from 2017 to 2019 and had losses for a few years when he was the mill operator and lived in his manufacturing facility.
This inexperience virtually led the corporate to fold two years later. “We didn’t have sufficient working capital to accumulate a spot of our personal, so we ended up with fastened property on rented premises that had a short-term lease.
The proprietor sold his place again and we needed to disassemble our plant and promote it little by little. We misplaced a lot cash in vacating the premises, I believed we’d exit of the market.” He further explained.
After it disposed of its plant, FaLGates outsourced manufacturing and continued promoting its model as they had a prepared market. “It lowered our revenue but it surely was higher than doing nothing,” Falalu says.
Falalu has been recognized as one of Africa’s most promising young business people in Forbes Under-30 List among numerous awards and continues to do enormously well in his choice of business.