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The Cubana Trading and Investment Co. Ltd (CTIL), manufacturers of Odogwu Bitters, has bemoaned the high cost of production in the country, noting that epileptic power supply and high cost of diesel were putting businesses on edge.
The Chairman of CTIL, Obinna Iyiegbu, who spoke recently at a press conference to celebrate the company’s first anniversary, however, stated that despite the impediments, the company was doing well and had added three new products — Odogwu Vodka Mix -HAMMER, Odogwu Energy Drink -MALAY and Odogwu Hush — to its chain.
He said: “We have seen the epileptic power supply in the country. We have seen the price of diesel rise from where it was when we started to where it is today. Once the price of diesel rises, it affects production; it affects transportation and everything. We have had a situation where you would load the product and drivers would divert it; we have also lost our goods to accidents caused by bad roads. But. we are still in business and we are doing well.
“If you want to raise your price at any time those shocks come, what about your competitors? So, you have to find a way to navigate it while also maintaining the quality of the drink. It has not been easy. ..”
However, we believe that things will stabilise at a point, so that you can actually forecast and say that we will spend XYZ amount to produce XYZ and it will be the same. Right now, you cannot forecast anything. But you just have to find a way to manage it.” He said the success story of the company was rooted in not giving up in the face of challenges.
“We never gave up; we kept pushing forward, learning from our mistakes and adjusting our strategies until we finally found a formula for success.
“I am proud to say that we have come a long way since then and our success story is a testament to every team member’s hard work and dedication. We have achieved great milestones and made significant progress in our industry,” he said.
Iyiegbu said the company’s journey to success was not over, adding: “We have more products in the pipeline and continually explore new opportunities to expand our business and reach new markets.
“As we celebrate our first anniversary, I want to thank every team member for their hard work, dedication, commitment and innovativeness. Our processes are based on world-class best practices, breeding alliances with best-in-class products.
“I also want to thank our clients, our great distributors. We started with 241 distributors and now we have restructured distribution channels to be leaner but more resilient and responsive. Today we have 60 significant distributors, 55 in Nigeria, two in Canada, one in Liberia, one in Uganda, one in Cote d’Ivoire and still counting. To our numerous final consumers, for their loyalty and support, we say thank you. Without you, we would not be where we are today.
“As we look to the future, I assure you that our commitment to excellence remains unwavering.” On how the company has been giving back to society, Iyiegbu said: “We have done a lot in terms of CSR, some you see, some you don’t see. We believe that education is the best weapon to arm any person to succeed in life. You can actually veer off along the line; you can go into any vocation you want but being educated will help you to excel. So, we do our best to empower the youth in terms of education mostly. We give you something that will actually build you for tomorrow because we need people that will actually take up our places by the time we are no more.”
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