Former Managing Director of Wema Bank, Mr Segun Oloketuyi, has urged aspiring entrepreneurs to embrace resilience, adapt to changing business conditions and remain committed to their ambitions rather than abandon their dreams when faced with challenges.

Oloketuyi gave the advice at the launch of Courage to Start: The FoodCo Story, a book written by the founder of FoodCo, Mrs Sola Sun-Basorun, in Ibadan, Oyo State.

He said Sun-Basorun’s entrepreneurial journey demonstrated that building a successful business did not necessarily require huge capital at inception but courage, quality, determination and the ability to make difficult decisions.

Recalling the early days of FoodCo, Oloketuyi, who is also an independent non-executive director of the company, said the business started with three deep freezers, an egg refrigerator and a generator.

He disclosed that the company once reduced its operations from five stores to one to survive an economic downturn, describing the decision as an important lesson in resilience and sound business judgment.

According to him, the ability to recognise difficult circumstances, adjust business operations and remain focused on long-term goals is essential to entrepreneurial success.

He urged young Nigerians seeking to establish businesses not to allow limited resources or temporary setbacks to discourage them, but to learn from Sun-Basorun’s experience.

The book, which has 200 pages and 16 chapters, chronicles the evolution of FoodCo from a modest business established in 1982 into a retail chain with 24 outlets across Oyo, Osun, Lagos and Ogun states.

Speaking at the event, Sun-Basorun said she resigned from her position as a librarian at the University of Ibadan to pursue her business ambition, adding that she wrote the book to encourage young Nigerians facing unemployment and economic challenges to take the initiative.

She said the publication drew on experiences shared by employees, associates, suppliers, customers and other stakeholders who contributed to the company’s growth.

The book reviewer, Tunde Aiku (SAN), examined the business principles and lessons documented in the publication, while the publisher, Dr Kolade Mosuro, Managing Director and Chief Executive Officer of The Booksellers Limited, described it as a useful resource for entrepreneurship and business development.

Mosuro also called for a stronger reading culture, saying books remained important tools for promoting knowledge, critical thinking and community development.

In his remarks, Ade Sun-Basorun, who has taken over the management of FoodCo from his mother, thanked guests, family members, business associates and other stakeholders for their contributions to the company’s growth and the publication of the book.