Startups urged to prioritise human capital devt

Chairman, Resource Intermediaries Ltd, Alex Okoh

As Resource Intermediaries Limited marked its 20th anniversary in Lagos, the firm’s founders and executives used the milestone to urge Nigerian startups to place human capital development at the centre of their growth strategy.

Speaking at the firm’s 20th anniversary in Lagos on Saturday, Managing Director and CEO of Resource Intermediaries, Ademolasoye Awonaike, said the company’s survival through economic shocks and national tragedies was anchored on people and culture.

“Resilience is not the absence of pain; it is the courage to move forward while carrying it,” Awonaike stated.

“Our culture ensured operational continuity and compassion during our most difficult seasons. Over the years, leadership has required making tough decisions — restructuring, right-fitting our workforce, and sharpening our focus. No organisation succeeds for 20 years on strategy alone; it succeeds because of people with conviction, courage, and an unyielding commitment to excellence.”

He added: “Technology may transform the workplace, yet people will always transform organizations. As we celebrate our history, our focus remains on moving beyond traditional outsourcing to broader workforce and business solutions.”

From a three-person boutique in 2006, RIL has grown into a group enterprise managing over 20,000 staff, with three Nigerian regional offices and international subsidiaries in Ghana (13 years), Kenya (2 years), plus its co-working brand, The Bunker Workspaces (8 years).

Co-founder and pioneer MD/CEO Olusoji Oyawoye, who led the company for 18½ of its 20 years, said crossing the critical five-year survival threshold required dropping executive ego and embracing structured mentorship.

“Like many entrepreneurs, I made the initial mistake of assuming that my executive banking background as a former treasurer was all that was needed,” said Oyawoye. “The first five years were extremely challenging. Running a business is a distinct science. The turning point came when I sought guidance from business mentors who were five to ten years ahead of us. Once we opened ourselves to structured coaching, our operational momentum transformed.”

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Oyawoye stressed that RIL’s longevity amid shifting policies and macroeconomic turbulence rests on one core philosophy: putting people before profit.

“The fundamental principle many leaders miss is simple: instead of trying to build your business, invest in building your people. When you build your people, they will build the business,” Oyawoye emphasised.

“We invest heavily in training, coaching, competitive pay, and employee welfare. Furthermore, long-term sustainability requires transparent customer management. Whenever servicing a client account became financially unviable, we exited those relationships transparently using hard data — often even assisting clients in finding alternative management. That level of integrity is why industry leaders across banking, manufacturing, and hospitality continue to trust us.”

In his opening address, the firm’s Board Chairman, Dr Alex Okoh, honoured the founders, board, management and clients who shaped RIL’s journey from 2006 to an industry benchmark.

He framed the anniversary mandate as: “Future Forward: Beyond Outsourcing; Sustainable Growth.”

“Twenty years is a significant milestone, but it is a marker, not a final destination,” said Okoh. “‘Future Forward’ means embracing artificial intelligence, automation, and modern workplace dynamics. ‘Beyond Outsourcing’ means transitioning from service delivery to becoming strategic co-creators of value. ‘Sustainable Growth’ requires continuous investment in technology, robust systems, and our workforce. We look back with gratitude and step forward with confidence to build an enduring legacy.”

As RIL enters its third decade, it has reaffirmed its commitment to strengthening African enterprises, nurturing professional careers, and driving sustainable business solutions across the continent.