Embrace Savings and Entrepreneurship, MD Farotika Urges Nigerian Youth

Tope Farotika, Managing Director of Lebanon Cedars Furniture International Limited, has advised Nigerian youth to cultivate the habit of saving to enable them to start their own businesses.

Farotika shared this insight while discussing his own journey from the banking sector to establishing a successful furniture company.

He emphasized the importance of savings, determination, and faith for young people who are focused on white-collar jobs rather than exploring trades. “You have to face life head-on, especially if you believe in God,” he stated.

He urged the youth to begin saving early if they plan to venture into business and to gain a solid understanding of the field they wish to enter. “Knowledge is crucial,” he added, noting that his educational background has been instrumental in his business’s success.

Recalling his transition from banking to the furniture industry, Farotika admitted that it was anything but smooth. With no prior experience in furniture making, he struggled to find formal training in Nigeria. To overcome this, he joined the American Association of Wood Workers and learned the trade online, supplementing his knowledge with books and hands-on practice.

The early days were challenging, marked by dishonest employees and a lack of clients. However, Farotika’s perseverance paid off. After landing his first major job and sharing his work online, the business began to attract attention both locally and internationally.

When asked if he has any regrets about leaving the banking sector, Farotika responded with confidence: “None at all.” He believes that his education has given him a competitive edge in growing his business and penetrating corporate organizations. Farotika is also committed to continuous learning, recognizing that staying informed is key to sustaining business success. Additionally, he appreciates the work-life balance his new career offers, allowing him more time for himself and his family.