By: Kolawole Olayinka
The Managing Director of Grand Oak Nigeria Ltd., a sister company of Nigerian Distilleries Ltd. (NDL), Mr. Fatai Odeshile has advised manufacturing companies operating in Nigeria to engage in backward integration by sourcing for their raw materials locally in order to grow the country’s economy.
Odeshile gave the advice yesterday in Abeokuta while speaking to journalists after the “2017 Distributors’ Conference” and the official launch of the re-branded Regal gin, a flagship product of the company.
The event also witnessed the unveiling of the Brand Ambassador, Femi Adebayo, a popular Yoruba Nollywood Actor.
The Managing Director stressed that one of the smartest ways manufacturing companies can survive the current economic hardships is to stop the importation of raw materials and invest in the local market by sourcing their raw materials locally.
He noted that his company had realised the impact of the economic downturn on their production which propelled them to invest heavily in agricultural products, like cassava which constitute major raw material used for their production.
Odeshile said his company was the first African cassava based ethanol producing company and had stopped importing ethanol from countries like Indian, Brazil among others since ten years ago.
This, according to him had helped the company stay afloat even in the face of the economic downturn.
Speaking on the launch of the re-branded Regal gin, Odeshile said the brand was a global quality brand which was totally made of natural fruits extracts, locally sourced to give their consumers the desired satisfaction.
According to him, “One of the smartest things Nigerian Distilleries Ltd did, and it was done some ten years ago because we recognised that the way the world was going one critical determinant of spirit business is alcohol because we were all importing alcohol from Indian, Brazil and other foreign countries so we are the first African company to have a cassava based ethanol production company in Igbesa, Ogun State and today we are not importing ethanol, we control the quality of ethanol that we use so when people are shouting recession, Regal is bouncing back that is one of the critical successes of the brand.”
“This brand is over 30 years old, it is one of the brands of Nigerian Distilleries Ltd. We know what our consumers want and that is why we are giving them the best quality money can buy”.
“This brand deserves innovation, it deserves attention, it deserves to turn up and shine and that is why in line with the changing lifestyle of our consumers, Regal also needs to change in tune with what is happening today in the society. Regal is being re-branded, Regal is being re-birth in line with what the consumers want.”
“It is a brand of quality, it is one brand that is made of natural extracts, not flavours, when you taste Regal and you taste other brands you will see the difference. It is not a flavoured alcoholic drink, it is a brand that is made with natural extracts. This brand gives you a near-nature experience.”
Also speaking, the Brand Manager of Regal gin, Mr. Adeniyi Babatunde said, “This brand has transcended to greater heights, it has gone beyond being a local brand, it can compete favourably with International brands, you can see the packing, the crystal bottle.
“The brand is synonymous with promotion of our culture with the crafting of our ankara fabrics design cap. The brand is also synonymous with good company and shared endeavors and people that want to be successful. It is a brand that has transcended beyond demographic”.
“The raw materials for this brand are all sourced locally. Apart from the content of the brand, the packing materials are also sourced locally, from the labels to the caps before we used to bring in caps from foreign countries but now we are getting from vendors locally. A lot of local contents have gone into developing this brand”.