BUSINESS PROPOSAL FOR METAL

SCRAP COLLECTION

BY

ABIOLU SCRAPYARD NIGERIA LIMITED, ILESA

NO: XX XXXXX STREET OFF ILESA-ILERIN ROAD ILESA

0XXXZxXXXxX, 0XXXXXXXXXXX
Email: xxxxxxxxxxxmighty@gmail.com

TABLE OF CONTENT

1.1 EXECUTIVE SUMMARY

2.0 BUSINESS DESCRIPTION

2.1 WHAT IS A SCRAP METAL?

2.2 TYPES OF SCRAP METAL

2.3 VISION STATEMENT

2.4 MISSION STATEMENT

2.5 BUSINESS OBJECTIVES

2.6 BUSINESS STRUCTURE

3.0 SWOT ANALYSIS

3.1 STRENGTHS

3.2 WEAKNESSES

3.3 OPPORTUNITIES

3.4 THREATS

4.0 MARKET ANALYSIS

4.1 MARKET TRENDS

4.2 OUR TARGET MARKET

4.3 OUR COMPETITIVE ADVANTAGES

5.0 SALES AND MARKETING STRATEGIES

5.1 SOURCES OF REVENUE

5.2 SALES FORECAST

5.3 OUR MARKETING STRATEGIES

6.0 FINANCIAL PLAN

6.1 STARTUP EXPENDITURE (BUDGET)

6.2 FUND GENERATION

7.0 SUSTAINABLE AND EXPANSION STRATEGY

EXECUTIVE SUMMARY

ABIOLU SCRAPKING NIGERIA LIMITED will be an Ilesa-based

licensed and standard solid waste management company with
strong bias for buying and selling scrap metals (ferrous and
nonferrous metals). We have been able to secure a standard
scrapyard. The facility is located along Ilerin Road in Ilesa; a site
that is well-positioned and highly suitable for the kind of scrap
metal warehouse that we want to build. We will solely focus on
buying used and condemned ferrous and nonferrous metals and
supplying to clients who need our services within Osun State and
Nigeria.

Abiolu Scrapyard Nigeria Limited is an initiative of Olumide

Abiodun Emmanuel, an engineer who has loads of experience
working in the scrap collection business for more than 8 years;
together with his business associates. We are focused on
establishing this scrap metal collection business to be among the
leading scrapyards in Nigeria, while contributing our quota to the
socioeconomic development of the country.

The startup investment sum needed is N3,000,000. N1000,000 will

be contributed by the founder to make up about 33% of the total
startup investment capital. The remaining N2000,000 will be
sourced from government grants and funds from interested
investors.

Our workers are going to be selected from a pool of highly

experienced scrapyard technicians in and around Ilesa – Osun
State and also from any part of Nigeria as the business grows.

We will make sure that we take all the members of our workforce
through the required trainings that will position them to meet the
expectation of the company and to compete favorably with leading
scrap metal collection companies in Nigeria and throughout the
globe.
At Abiolu Scrapyard Nigeria Limited, our client’s best interest will
always come first, and everything we do will be guided by our
values and professional ethics. We will ensure that we hold
ourselves accountable to the highest standards by meeting our
clients' needs precisely and completely. We will create a working
environment that provides a human, sustainable approach to
earning a living, and living in our world, for all our partners,
employees and for our clients.

BUSINESS DESCRIPTION

The management of solid wastes has been a major challenge in

Nigeria. Solid wastes are frequently disposed along the streets,
gutters, drainage channels, rivers, abandoned plots of land etc.
poor waste disposal has been linked to blockage of gutters and
other drainage channels causing flood, poor aesthetics, release of
foul odour and greenhouse gases into the atmosphere, obstruction
of traffic flow and pollution of surface and ground water). Scrap
metals is an important components of the municipal solid wastes
(MSW) in Nigeria accounting for 3 – 20% of the MSW generated in
the South Western. Through the activities of scavengers, useful
materials are often recovered from MSW including metal scraps,
wood, plastics etc. Scrap metals are among the most important and
most priced materials in MSW. Many important metals have been
recovered and recycled including iron and steel, copper, brass, and
aluminum. Recycling of scrap metals prevent air, water and soil
pollution, saves energy and raw materials and reduce greenhouse
gas emissions. Recycling also conserve space in landfill sites.
Energy savings during the recycling of metals are 95% for
aluminum, 85% for copper, 65% for lead and 60% for zinc.

According to the United Nations Comtrade database, the global

metal recycling business at large was worth $52.1 billion in 2019,
and it has been projected to grow as high as $76.1 billion at a
massive CAGR of 7.8% within the forecast period of 2020 and 2025.
The USA stands tall in the metal recycling market. The country
exported over 17,000 metric tonnes of scrap metal in 2019. The US
is trailed by Japan (7,657 MT), Canada (4,369 MT), Russia (4,059
MT) and Australia (2,325 MT) in the same market year. On the flip
side, Turkey remains the biggest importers of scrap metal, with
particular attention on steel metal. The Eurasian country imported
a whopping 19 million MT of scrap steel alone in 2019. This further
underlines the heavy demand for scrap metal all over the world.

Like other industrial nations of the world with growing economies,

Nigeria consumes almost 7 million metric tonnes of metal annually.
However, at the moment, the nation contributes a relatively
insignificant percentage to the metal recycling industry if compared
to how much metal we consume. Although there is a paucity of data
on what precisely the scrap metal recycling market in Nigeria is
worth, there are estimates that the country churns out about a
thousand metric tonnes each year. The African Scrap Metal
Recycling Association (ASMRA) provides valuable insights into the
sector, showcasing the growing need for efficient collection and
recycling processes. For a smart investor, this is a huge business
potential.

There is no doubt as to whether the world will continue to demand

metal. What this means is that, as a metal collector, there is the
possibility of making millions just by collecting and selling waste
metal. At the rate of N800 to N1,000 per Kg, a collector could make
as much as N7 million from a truckload of aluminium and about
N25 million from copper. The interesting thing about metal
collection is that it is an accommodating enterprise. There are no
restrictions on the number of staff, and there are no qualifications
required. Literally any able-bodied individual who is willing to learn
the basics of scrap metal collection hands-on can earn a living from
it. It is a common business in major cities and towns in Nigeria
such as Onitsha, Port-Harcourt, Lagos, Enugu, etc.

What is a scrap metal?

Many products containing metal components get thrown away
when they’re no longer useful to people. Rusty pots and pans get
tossed in the trash, metal furniture gets left in the alley, old bicycles
get taken apart and disposed of, and more. Metals end up taking
space in landfills instead of being used to create new products.

That’s unfortunate because metal is more durable than a lot of

other materials and can be recycled repeatedly without losing
quality. Scrap metal collection and recycling also reduces waste and
conserves energy and natural resources. For example, it requires a
lot less energy to remelt steel scrap than to create new products
from raw materials. Reusing scrap metal also conserves landfill
space.

The key difference between recycling metals and the traditional

recycling process is that scrap yards purchase metals for melting,
whereas paper and plastic are typically picked up by the city.
Municipal programs are funded with taxpayer dollars, but they do
result in cost savings when compared with trash disposal.

Because scrap metal has value to scrap yards, it represents an

opportunity for an enterprising scrapper to earn extra cash.

Types of scrap metal which we collect

Copper

Copper generally sells for a higher price than other types of scrap
metal, with many types of copper valued between $3 and $4 per
pound as of January 2021. It’s commonly found in your house’s
plumbing and electrical wires. Household appliances such as
washers, dryers, and air conditioners can be scrapped for copper
coils, copper roofing accents can be recycled, and old electronics
and computers can be taken apart for copper wiring as well.
Aluminum

Aluminum scrap metal is less valuable than copper, selling for

around 55 cents per pound. Cookware and kitchen appliances tend
to contain aluminum parts, as do car engines. Railings and fences
are often constructed with aluminum as well. Aluminum cans can
also be scrapped, but you’ll need quite a few to add up to a pound.

Brass

Brass is relatively valuable compared with other scrap metals and is

selling for $1.81 per pound as of January 2021. Light fixtures,
doorknobs, furniture, and other household items are often made
with brass. It’s also found in HVAC units, musical instruments, and
some jewelry. If you head to a shooting range, you can also collect
brass casings.

Stainless Steel

Although steel is a very common metal, it’s not as valuable as other

metals. Depending on the type of steel, average prices range from
about 25 to 50 cents per pound as of January 2021. You can bring
household appliances like refrigerators and dishwashers to a scrap
yard and sell them for steel scrap. Many pipes and beams are also
made of steel, old TVs have steel casings, and computer towers can
be disassembled for steel scrap. You can use a magnet to identify
steel and iron scrap and separate it from your other metals.

Other things that can be scrapped:

Cars and car parts

Power outlets and surge protectors

Ceiling fan motors

Structural steel

Large household appliances such as refrigerators, dishwashers, and

washing machines (small kitchen appliances are typically not worth
scrapping)

Old jewelry (precious metals)

Ferrous vs. non-ferrous metals

Ferrous metals are more abundantly produced, typically magnetic,

and less valuable than non-ferrous metals. Non-ferrous metals are
worth more because recycling them doesn’t result in any change to
their chemical properties, so they have an endless life cycle.

Ferrous metal items come from appliances, furniture, tires, building

materials, transportation parts, and packaging. Non-ferrous metals
include precious metals, aluminum, lead, copper, tin, zinc, and
alloys. Although only about 10% of recycled scrap metal is non-
ferrous, the higher value means that non-ferrous metals account for
50% of the industry’s revenue.

Both types of metal are worth collecting for scrap, and you can use
a magnet to identify ferrous scrap metal and separate it from non-
ferrous metal. If the magnet sticks, your metal is ferrous.

VISION STATEMENT

Our vision at Abiolu Scrapyard Nigeria Limited is crystal clear: we

want to be recognized as the best scrap metal collection company
whose scrapyard will supply top quality products that will be
acceptable anywhere in Nigeria and even all around the globe. We
will do well to achieve this vision by doing everything within our
capability and permissible under the laws of Osun state and Nigeria

MISSION STATEMENT

Abiolu Scrapyard is a company that will readily compete with the

top metal scrapyards in Osun State, and even the leading ones in
the whole of Nigeria.

Our mission is to become renowned as a scrapyard that is focused

on providing clean and standard ferrous and nonferrous metals to
the relevant industries that need our services, to help them
minimize cost and energy.

Also, we want to be able contribute our own share in making sure

our world is clean and protected from degradation and deterioration
resulting from metallic material wastes that are buried beneath the
earth.

BUSINESS OBJECTIVES

• In 2-3 years time, Abiolu Scrapking Nigeria Limited will

become a household name in the Nigerian scrap metal
recycling industry and readily chosen over competitors
wherever people think of quality scrap metals at right pricing,
with customer and environmentally friendly operations. We
would achieve all this by adopting: (i) an effective and well-
defined business growth strategies. (iii) efficient marketing and
distribution strategy. (iv) Great quality controlled operation. (v)
The best customer, employee, client, and supplier incentive
programs in the industry.

• To generate reasonable turnover with sales capacity of about

500 tonnes of scrap metals annually. This will enable us to
become sustainable, create more jobs and expand our
 operations. We will achieve this by selling to diverse markets,
ensuring customers’ loyalty and optimal use of our facilities.

• Client satisfaction: We shall go extra mile to ensure that all

our clients are happy. We intend to do this by taking time to
understand their needs and assisting them to make better
decision. Effective communication strategies shall be adopted
and attention to clients’ satisfaction shall be our watchword.

BUSINESS STRUCTURE

Abiolu Scrapyard Nigeria Limited is a company we hope to start

small in Ilesa with 10-12 employees and using commercial trucks
for transporting our products. Overtime, we will build it into a very
formidable company capable of competing with the best in Nigeria.

We know the importance of establishing a very strong business

structure that can guarantee us our business vision of becoming
one of the very best in Nigeria. For this reason, we will make sure
we do everything within our means to hire only the right employees.

We will establish an interview based platform to select only

candidates that are hardworking, competent, driven, and have some
sort of experience in the industry. We will turn a blind eye to
prejudice and subjectivity, and be objective in selecting our
employees. In no particular order, the following are some of the
employment opportunities we will provide:

Chief Executive Officer - 1(not vacant)

Head of Technical Services - 1

Scrap Metal Collectors - 4

Office Clerks - 2

On/offloaders 3

Job Roles and Responsibilities

Chief Executive Officer – CEO:

 Increases management’s effectiveness by recruiting, selecting,

orienting, training, coaching, counseling, and disciplining
managers; communicating values, strategies, and objectives;
assigning accountabilities; planning, monitoring, and
appraising job results; developing incentives; developing a
climate for offering information and opinions; providing
educational opportunities.
 Creates, communicates, and implements the organization’s
vision, mission, and overall direction – i.e. leading the
development and implementation of the overall organization’s
strategy.

Head of Technical Services:

 Serves as project manager of the organization; works directly

with employees in the scrapyard.
 Develops strategic plan by studying technological and financial
opportunities; presenting assumptions; recommending
objectives.
 Accomplishes subsidiary objectives by establishing plans,
budgets, and results measurements; allocating resources;
reviewing progress; making mid-course corrections.
 Coordinates efforts by establishing procurement, production,
marketing, field, and technical services policies and practices;
coordinating actions with corporate staff.
Scrap Metal Collectors:

 Visit dumpsites to collect scrap metals and convey in

wheelbarrows to the scrapyard.

Office Clerks:

 Weigh and record scrap metal collections

 Grade and sort metal, by hand or machine
 Performs clerical duties including typing, filing, and
completion of simple forms.
 Operates office machines including copiers, scanners, phone
and voicemail systems, personal computers, and other
standard office equipment.
 Answers phones, directs calls to appropriate individuals, and
prepares messages.

On/offloaders:

 Offload scrap metals from metal collectors and onload them

into trucks hired to convey them to our clients.

SWOT ANALYSIS

Abiolu Scrapyard Nigeria Limited has engaged the services of a

core professional in the area of business consulting and structuring
to assist our organization in building a well – structured scrap
metal collection business that can favourably compete in the highly
competitive scrap metal industry in Nigeria.

Part of what the team of business consultant did was to work with
the management of our organization in conducting a comprehensive
SWOT analysis for Abiolu Scrapyard Nigeria Limited. Here is a
summary from the result of the SWOT analysis that was conducted
on our behalf;

Strength:

Our core strength lies in the power of our team; our workforce. We
have a team of highly trained and experienced scrap metal
technicians, a team with diverse experience in ferrous and non-
ferrous materials handling.

Aside from the synergy that exists in our carefully selected

workforce, our company will be guided by best practices in the
industry and our scrapyard is centrally positioned in an accessible
place and it is built to fit into the design of a 21st century
sustainable business enterprise.

Weaknesses:

As a new metal scrapyard in Ilesa – Osun State, it might take some

time for our organization to break fully into the market and gain
acceptance especially from top profile clients (big time
manufacturing / production companies that make use of recycled
metal materials) in the already saturated and highly competitive
recycling industry; that is perhaps our major weakness.

Another weakness is that we may not have the required cash to

promote our business the way we want to.

Opportunities:

No doubt, the opportunities in the scrap metal collection industry is

massive considering the number of individuals and manufacturing
companies who are now switching over to alternative sources of raw
materials basically to save cost and energy. As a scrap metal
collection company, we are ready to take advantage of any
opportunity that is available in the industry.
Threats:

Aside from unfavorable government policies, one of the major

threats that we are likely going to face is economic downturn. It is a
fact that economic downturn affects purchasing / spending power.
With the recent inflationary trend in the Nigerian economy, it is very
difficult for business enterprises to survive in the country. Another
threat that may likely confront us is the arrival of new scra in same
location where our target market exists and who may want to adopt
same Business model like us.

Other possible threats to our business include exposure to health

hazards such as toxins from lead, accidents and cuts during
collection or packaging of sharp metal, poor road networks for
transporting collected scrap metal, metal thefts, and difficulty in
securing loans.

MARKET ANALYSIS

Market Trends

One obvious trend in the scrap metal collection industry and, of

course, in other recycling related industry is that players in this
sector leverage on saving the earth and balancing the ecosystem to
promote their business.

As a matter of fact, governments all over the world and even

international Non – Government Organizations (NGOs) are in the
forefront when it comes to campaigning in favour of recycling
materials to generate raw materials for industries as against
tapping virgin raw materials. This is so because it will help save
cost and energy and the earth that we live in will be the better for it.
It is also true that players in this industry ensure that they position
their scrapyard close to major transportation hubs to reduce
transportation costs and turnover time. This is one of the major
reasons why scrapyards and metal recycling plants are located in
manufacturing cum industrial estates, as well as highly populated
urban areas to collect obsolete metal scrap. Good enough,
manufacturing facilities do not only supply industry operators with
scrap metal from their operation processes but they also demand
recycled ferrous and nonferrous metals from industry operators
hence a win – win operation.

In spite of obvious recessionary challenges in Nigeria and in the

wake of a consumer preference shift toward green products and
growth in environmental regulations that encourage recycling of
scrap metal, the scrap metal recycling industry is expected to
experience healthy growth going forward as purchases of metal
related products (ferrous and non – ferrous metal products) drive
demand for the collection and recycling of obsolete products and
regulation for the industry increases.

Lastly, more and more manufacturing industries are beginning to

see the benefits of going for recycling materials as against going for
virgin raw materials in the production of their products. This is the
reason why the industry is expanding and becoming more profitable
and viable.

Our Target Market

Before starting our scrap metal collection business in Ilesa – Osun

State, we conducted a market survey and feasibility studies and we
are certain that there is a wide range of that cannot successfully
run their businesses without sourcing for scrap metal materials
from us.
In view of that, we have created strategies that will enable us reach
out to various manufacturing/production companies who we know
can’t afford to do without our products / recycled raw materials.
Below is a list of the people and organizations that we have
specifically market our products and services to:

 Zioncyclers, Owode Ede (Osun State)

 Kaddosh Metal Scrap Nigeria Limited, Ikeja (Lagos State)
 Maths Metals Recycling Ltd, Shagamu (Ogun State)
 Colossal Hub, Agbara (Ogun State)
 Imperial Avantage Resources Limited, Gbagada (Lagos State)
 ScrapKing9ja, Ikeja (Lagos State)
 Great Height Metal Works Nigeria Limited, Oshodi-Isolo (Lagos
State)
 Octopi Reprocessing Limited, Ijaiye (Lagos State)
 Aboda Emperor Services Limited, Lagos (Lagos State)

Our Competitive Advantages

The recycling industry is an emerging market that is yet to be fully

embraced in Nigeria, therefore there is little competition in the
industry at the moment. Although, there is a relationship between
the emerging players as they cannot do without one another.

Since the industry is a multi-stage one, there is need for

collaboration among the players in order to have a win-win
situation for all the players. Without a shadow of doubt, there are
loads of big time investors that have stakes in the scrap metal
collection industry; but one thing is certain, there is room big
enough to accommodate all players.

So, as we are entering the industry, we are eager for partnership

with similar companies, and also prepare for serious competition in
the nearest future as soon as the industry enters it boom period in
Nigeria.
Our competitive advantage lies in the power of our team; our
workforce. We have a team of certified and highly experienced
technicians, a team with excellent qualifications and experience in
various niche areas in the material handling business.
Aside from the synergy that exists in our carefully selected
workforce, our operation will be guided by best practices in the
industry and our scrapyard is well-located at Ilerin close to the
Ilesa-Iperindo Expressway and it is built to fit into the design of a
21st century scrapyard.
Lastly, all our employees will be well taken care of and their welfare
package will be among the best within our industry (startup scrap
metal collection companies) in Nigeria. It will enable them to be
more than willing to build the business with us and help deliver our
set goals and achieve all our business aims and objectives.

SALES AND MARKETING STRATEGY

Sources of Revenue

Abiolu Scrapyard Nigeria Limited is established with the aim of

maximizing profits in the scrap metal collection business and we
are going to go all the way to ensure that we do all it takes to meet
and surpass the expectations of all our clients. Our company will
generate income by collecting and selling scrap metals.

Sales Forecast
One thing is certain, there would always be scrap metal dealers and
metal recycling companies who cannot but source their raw
materials from scrapyards.
We are well positioned to take on the scrap metal recycling industry
and we are quite optimistic that we will meet our set target of
generating enough income / profits from the first six months of
operation and grow our scrap metal collection company to enviable
heights.
We have been able to critically examine the scrap metal collection
market and we have analyzed our chances in the industry and we
have been able to come up with the following sales forecast. The
sales projections are based on information gathered on the field and
some assumptions that are peculiar to similar startups in Ilesa –
Osun State.

Below are the sales projections for Abiolu Scrapyard Nigeria

Limited. It is based on the location of our business and of course
the wide range of our target market;

 First Fiscal Year-: N2,500,000

 Second Fiscal Year-: N7,000,000
 Third Fiscal Year-: N15,000,000

N.B: This projection is done based on what is obtainable in the

industry and with the assumption that there will not be any major
economic meltdown and there will not be any major competitor
within same location where our scrapyard is located. Please note
that the above projection might be lower and at the same time it
might be higher depending on market forces.

Our Marketing Strategies

Some environmental experts stated that the world market for waste,
from collection to recycling is worth around N348 trillion (US $410
billion). The solid waste collection and recycling business is
therefore a growing business that has futuristic benefits; there are
markets in the developing world that can be tapped into especially
in Africa, Asia and Latin America.
Our personnel will be recruited based on their vast experience in
the scrap metal collection industry and they will be trained on a
regular basis so as to be well equipped to meet their targets and the
overall business goal of Abiolu Scrapyard Nigeria Limited.
Our corporate goal is to grow Abiolu Scrapyard Nigeria Limited to
become one of the leading scrap metal collection brands in Nigeria.
To achieve this goal, we have mapped out marketing and sales
strategies that will help us take advantage of the available market
and grow to become a major force to reckon with not only in Ilesa –
Osun State, but also in other cities in Nigeria.
Abiolu Scrapyard Nigeria Limited is set to make use of the following
marketing and sales strategies for profit generation:
 Introducing our scrap metal collection company by sending
introductory letters alongside our brochure to metal recyclers.
 Advertising our business in relevant business magazines,
newspapers, TV stations, and radio station.
 Listing our business on yellow pages ads (local directories)
 Attending relevant local expos, seminars, and business fairs et
al
 Creating different packages for different category of clients in
order to work with their budgets and still deliver quality scrap
metal materials
 Leveraging on the social media to promote our business
 Engaging in direct marketing approach
 Joining the local chambers of commerce and industries with
the aim of marketing our services
 Encouraging word of mouth marketing from loyal and satisfied
clients

FINANCIAL PLAN

Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the
approach and scale the founders want to undertake. If they intend
to go big by renting a place, then they would need a good amount of
capital as they would need to ensure that their employees are well
taken care of, and that their facility is conducive enough for
workers to be creative and productive.
This means that the start-up can either be small or big depending
on business goals, vision and objectives for the establishment. The
tools and equipment that will be used are nearly the same cost
across Nigeria, and any difference in prices would be minimal and
can be overlooked. The estimated cost analysis for setting up Abiolu
Scrapking Nigeria Limited is provided below:

 Business incorporation fees in Nigeria will cost – N20,000.

 The budget for liability insurance, permits and license will cost
– N100,000
 Acquiring site for the scrapyard - N200,000 (acquired)
 The amount required to purchase the needed scrap metal
handling equipment – N100,000
 Equipping the office (computers, printers, projectors, markers,
servers / internet facility, furniture, telephones, filing
cabinets, and electronics) will cost – N300,000
 The cost for start-up inventory (purchase of used and
condemned metal material (ferrous and non – ferrous metal
materials)) – N1,780,000
 Launching an official Website will cost – N50,000
 Amount needed to pay bills and staff members for at least 2 to
3 months – N500,000
 Amount needed for transportation of scrap metals collected
within the first few months – N100,000
 Additional Expenditure such as Business cards, Signage,
Adverts and Promotions will cost – N50,000

Going by the report from the market research and feasibility studies
conducted, we will need about three million (3,000,000) naira to
successfully set-up a medium scale scrap metal yard in Ilesa, Osun
State.

Fund Generation
Abiolu Scrapyard Nigeria Limited is a business that will be owned
and managed by Engr. Olumide Abiodun Emmanuel and his
business associates. We are the financials of the business which is
why we have decided to restrict the sourcing of the start-up capital
for the business to just four major sources.

These are the areas we intend generating our start-up capital:

  Personal savings
 Loans from friends and family members
 Government grants
 Funds from interested investors

N.B: We have been able to generate about N1000,000 (Personal

savings N700,000 and soft loan from family members N300,000)
and we intend to approach the Osun State Government for grants
and tax incentives.

SUSTAINABILITY AND EXPANSION STRATEGY

The future of a business lies in the number of loyal customers they
have, the capacity and competence of the employees, their
investment strategy and the business structure. If all of these
factors are missing from a business (company), then it won’t be too
long before the business closes shop.
One of our major goals of starting Abiolu Scrapyard Nigeria Limited
is to build a formidable investment platform that will survive off its
own cash flow without the need for injecting finance from external
sources once the business is officially running.
We know that one of the ways of gaining approval and winning
customers over is to sell our scrap metal materials a little bit
cheaper than what is obtainable in the market and we are well
prepared to survive on lower profit margin for a while.
Abiolu Scrapyard Nigeria Limited will make sure that the right
foundation, structures and processes are put in place to ensure
that our staff welfare are well taken care of. Our company’s
corporate culture is designed to drive our business to greater
heights and training and retraining of our workforce is at the top
burner.

As a matter of fact, profit-sharing arrangement will be made

available to all staff members and it will be based on their
performance for a period of five years or more. We know that if that
is put in place, we will be able to successfully hire and retain the
best hands we can get in the industry; they will be more committed
to help us build the business of our dreams.