At the recent Agrofood Exhibition in Lagos, Funmi Babatunde-Dada, Executive Director of TECO Group, emphasized the urgent need for innovative thinkers to address the unique challenges confronting Nigeria’s agrifood industry. With over 45 years of pioneering engineering solutions, TECO Group continues to drive industrial growth and economic development across Nigeria and Africa.
Speaking to aspiring engineers and innovators, Funmi made a passionate appeal for more local problem solvers.
“We need more thinkers. When Nigerians leave the country, they go on to do amazing things abroad, right? But can we have those who are still here engineers and innovators rise to the occasion? We are the ones who can truly solve our own problems.
So, if you’re considering stepping into this space, please do. We need more engineers, more people who can conceptualize and create solutions. If you can do that, there’s a market waiting. There’s a gap and it’s a big one.that all of us can help fill.”
Highlighting TECO Group’s long-standing achievements, Funmi proudly shared:
“The fact that we’ve been around for 45 years is itself a success story. One of our clients owns the largest local oil palm processing businesses in Nigeria. We’ve built about five or six mills for him. The first was built 25 years ago, and since then, he has expanded significantly. We’re proud to have played a role in that journey. Over the years, we’ve built numerous palm oil mills across Nigeria.”
On the profitability and impact of the business, Funmi noted TECO Group’s mission to build industries that bridge the gaps in local processing capacity.
“Our motto at TECO is to create innovative machinery that improves livelihoods and transcends generations. That’s our focus. We look for gaps especially in the agrofood processing industry and we try to fill them. Even if we can only plug a part of the gap, we do it.
My belief is always: if you provide real value, the financial rewards will follow.”
Addressing persistent challenges, Funmi pointed to the difficulties of accessing affordable finance and sourcing raw materials.
“It’s not just about getting finance it’s about getting affordable finance. And even when we try to source materials locally, many of them are still imported. For example, no one manufactures steel in Nigeria. That means we rely on imported materials, making our operations vulnerable to currency fluctuations. Items like steel sheets and gear motors are priced in dollars, so exchange rate volatility directly affects our equipment costs.”
Power supply, she added, has been another significant obstacle.
“For over 34 years, our factory in Owo, Ondo State, has operated without access to public electricity. We’ve relied entirely on generators, and with soaring diesel prices, the cost burden is immense. This lack of reliable power impacts our efficiency. But despite these challenges, we remain focused on pushing forward and achieving success.”
