How Jaiz Bank helped me build a thriving business – Salisu

Starting as a painter on construction sites, Suleiman Salisu transformed a simple observation into a thriving business opportunity. Today, he is a leading supplier of building materials in Gusau, Zamfara State, serving contractors, companies, and individual customers. In this interview, he reflects on his entrepreneurial journey, the importance of discipline and the impact of Jaiz Bank’s ethical financing model on his business expansion. Blueprint.ng reports.

Can we meet you and learn about your business?

My name is Suleiman Salisu, and I am a businessman based in Gusau, Zamfara State. I specialize in the sale and supply of building materials, including tiles, wallpaper, paints, and other finishing products used in construction.

Over the years, I have grown my business from a small trading venture into an established enterprise that supplies contractors, corporate organizations, and individual customers across the state and beyond.

What inspired you to venture into this business?

I began my career as a painter and finishing artisan, working on construction sites. During these projects, clients frequently asked me to purchase building materials such as paints, tiles, and wallpapers on their behalf.

It occurred to me that instead of providing only labour, I could also supply the materials and earn additional income. That realization inspired me to venture into the building materials business. I started on a modest scale, and through consistency, discipline, and hard work, I was able to establish my own shop and gradually become a trusted supplier to contractors and companies.

How profitable has the business been?

The business has been rewarding because there is always demand for building materials. People are constantly constructing homes, schools, offices, and other infrastructure, creating a steady market for products such as paints, tiles, and wallpapers.

This consistent demand has enabled my business to grow steadily over the years.

How did you raise your start-up capital?

I started the business through personal savings. Rather than spending all the income I earned from painting jobs, I invested it in building materials.

Instead of accumulating cash, I accumulated inventory. Over time, my stock increased, allowing me to expand the business until I was able to establish my own shop.

Beyond your personal savings, have you received any support to grow the business?

Yes. While I did not receive financial support during the early stages of the business, I later benefited from a financing facility provided by Jaiz Bank.

The facility enabled me to purchase more inventory, increase my stock levels, and expand my operations. That support played a significant role in helping my business grow to its current level.

What more can financial institutions do to support small businesses and reduce poverty in Nigeria?

I encourage more financial institutions to emulate Jaiz Bank by adopting financing models that enable businesses to acquire productive assets and inventory instead of relying solely on conventional loans.

Jaiz Bank’s cost-plus-profit financing model creates value for both the customer and the bank while supporting sustainable business growth. If more banks embraced this approach, it would stimulate entrepreneurship, create employment opportunities, and contribute significantly to Nigeria’s economic development.

What challenges have you encountered in running your business?

One of the biggest challenges has been customers requesting goods on credit without having the financial capacity to pay immediately.

In some cases, after they eventually have funds, they purchase from other suppliers instead of settling their outstanding obligations. This negatively affects business cash flow and profitability.

How have you addressed these challenges?

I introduced a stricter payment policy. Unlike before, when I extended credit more freely, I now require customers to make payment before taking delivery of goods.

This approach has significantly improved cash flow and reduced the risk of bad debts.

In addition, I have diversified my business by establishing a block-making factory and venturing into the importation of building materials from China. These expansions have strengthened the business and enabled me to serve a broader customer base.

What advice would you give to young entrepreneurs?

Young entrepreneurs should remain focused, patient, and disciplined. They should appreciate modest profits instead of pursuing quick wealth.

In the early stages of business, profits should be reinvested rather than spent on unnecessary luxuries. With consistency, hard work, and prudent financial management, they can build sustainable and successful businesses over time.