The very day BusinessDay began, the words of our founding chairman, Pat Utomi, graced our front page. Today he returns, 25 years later, looking back to those early days.
Twenty six years ago, they said a daily business newspaper in Nigeria could not be sustained. Those who heard the idea of BusinessDay whispered, actually mocked the people who dared imagine this ‘pipe dream.’
My track to being put to this test of recall after 25 years started with my moonlighting. My day job had the title of Deputy Managing Director of Volkswagen of Nigeria. But my restless nature led to my moonlighting without pay as a weekly columnist for Vanguard Newspaper. My column, which appeared on Tuesdays, was titled ‘Thinking Aloud.’ To get some oxygen into my brain after a long day at the VWN factory on Badagry Highway, I often stopped over at the Vanguard offices on my way home to banter with the newsroom gang. Frank Aigbogun was a sharp young Editor at the Vanguard back then, and I enjoyed exploring issues with him. In those days, Editorial Chairs were like swivel chairs in a barber shop.
Editors came and left in quick succession. Aigbogun was soon to become former editor. When I asked what he planned to do with his life thereafter he told me about investing in a printing machine. He and his wife then invited me to serve as Chairman of the board of the printing company, Wordsmiths. I was pleased to accept but teased him about shortchanging the reach of his talent if he would spend the rest of his life printing call cards and calendars. From those jokes came the idea of a daily business newspaper. Most of those who first heard of the initiative said the idea was not sustainable, especially as the Business Times from the stable of publishing giant, Daily Times of Nigeria, was struggling as a weekly. I kept assuring Frank that when I got to the US for grad school in 1978, only a few businessmen read the Wall Street Journal, but the revolution of economic democracy through the stock markets made ordinary people keen to understand the political, economic and social trends affecting the value of their investments. I was sure that trend was around the corner. He had enough faith to believe me. Related News Belgium knock Senegal out to reach World Cup 2026 last 16 2026 World Cup shatters attendance record, surpasses 5 million spectators Kane double keeps England's World Cup hope alive
