Senator and former Ogun State governor, Gbenga Daniel, has shed light on the harsh realities confronting local businesses in Nigeria. Speaking at an interactive session with students to mark the 35th anniversary of his company, Kresta Laurel Limited, Daniel explained that most indigenous firms do not fail due to lack of ambition—but because they are crushed under the weight of systemic obstacles and insufficient government support.
“Nigerian entrepreneurs are practically left to fend for themselves,” Daniel lamented. “We generate our own electricity, provide water and security, and then face relentless taxation from authorities who assume that a tidy office means we’re swimming in profit.”
Building a Legacy Amid Adversity
Founded in 1990, Kresta Laurel began with a vision to challenge the monopoly of foreign players in Nigeria’s high-tech engineering space. The company has since delivered over 3,000 projects, covering elevators, cranes, and critical maintenance services.
“We knew from the start that we were venturing into a field dominated by expatriates,” Daniel recalled. “But we held on to the belief that if a white man can do it, so can a black man—maybe even better.”
According to Daniel, what separates businesses that endure from those that crumble is not just profit, but purpose and vision. “Many companies collapse because they chase short-term gains. We were determined to build a lasting institution—and that’s why we’re still standing after 35 years.”
Policy Change in Progress
Now a senator, Daniel acknowledged that the legislative environment needs to be overhauled to ease the burdens on local enterprises. “We are actively working on reforms to improve the ease of doing business,” he said. “These changes won’t happen overnight, but momentum is building.”
From Humble Beginnings to National Recognition
Dideolu Falobi, Kresta Laurel’s Managing Director, recounted the company’s journey from a small local office to a key player in Nigeria’s engineering industry. He highlighted notable contributions to major projects, such as the Lagos and Abuja airport terminals and the Lagos-Ibadan railway, where the firm executed Nigeria’s largest elevator and escalator contract to date.
“Our growth is anchored on a strong commitment to quality and people development,” Falobi said. “Many of our employees have been with us for years because we invest in them.”
He also pointed to the company’s ISO certification in 2014 as a defining moment that elevated its operational standards and boosted credibility across the industry.
Training Tomorrow’s Engineers
Beyond business success, Kresta Laurel continues to play a vital role in developing Nigeria’s human capital. Through internship and training programmes, the firm has trained hundreds of young Nigerians, many of whom now hold influential roles in both the public and private sectors.
“This isn’t a corporate social responsibility checkbox—it’s our way of building a better Nigeria,” Falobi said.
Conclusion
Despite daunting challenges, Kresta Laurel’s story offers a model of resilience, strategic thinking, and commitment to national development. Gbenga Daniel’s message is clear: Nigerian businesses can thrive, but they need more than vision—they need an enabling environment, supportive policies, and a long-term mission that goes beyond profit.
