Faith Paulinus
Today, we are crushing on Tosin Akinfola, CEO of Luztow Logistics Nigeria Limited.
Young entrepreneurs are seriously tapping into opportunities provided by the loopholes in the economy. Nigerian Entrepreneur Tosin Akinfola is creating a significant impact in Nigeria’s logistics sector.
Tosin is leveraging opportunities in the Nigerian economy by investing into the logistics industry after leaving a paid employment in 2013.
He started this business with N100,000, using 70 percent of the money to register it at the Corporate Affairs Commission (CAC).
Left with just N30,000, the entrepreneur endured hard times and worked hard to woo customers.
Today, Akinlofa is the chief executive of Luztow Logistics International Limited, situated at Idimu Road, Ejigbo, Lagos, a firm that has become a multi-million naira entity.
Luztow provides logistics and delivery services for Nigerians, serving ecommerce firms. It also clears goods from the ports.
“We are still growing. When we started, throughout that year, we did almost nothing in terms of business. We started doing business in 2014. Today, monthly turnover is in millions,” Akinlofa tells Start-up Digest.
The entrepreneur says that one major challenge he faced at the earlier stage of his business was trust. Akinlofa says that Nigerians have issues with trusting others owing to the bad experiences they might have had in the past.
“It is not easy for someone to entrust you with his or her goods. I didn’t try to convince them to give me, but I showed them what I could do. Some persons trusted me and today, I am happy,” he recalls.
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