Seleem Adegunwa:True Return on Investment Lies in Lives You Transform

Rarely seen with his sleeves down, the Managing Director and Chief Executive Officer of Rite Foods Limited, Seleem Adegunwa, is constantly on the move. Even at rest, his mind is busy shaping new ideas. A graduate of Birmingham City University, Adegunwa transformed a childhood fascination with food experimentation into a thriving enterprise. Today, Rite Foods stands as a testament to his vision, capturing a significant share of Nigeria’s energy drink market and expanding from a single product into a diverse portfolio. Despite a background in Mechanical Engineering, which he did not initially choose, his strategic insight and discipline have driven remarkable growth. In this chat with Omolabake Fasogbon, he reflects on his journey, influences, leadership philosophy, and the risks behind the ‘Proudly Nigerian’ vision

You lead one of the fastest-growing beverage companies in Nigeria. What leadership philosophy guides your decisions as Managing Director/CEO?

I would say it’s sincerity of purpose. If your intentions are clear and genuine, everything aligns, your people will trust you; your products reflect it, and your decisions become consistent. A leader can easily be misunderstood; so it is critical that your intentions are clear and that you have absolute clarity about why you are doing what you do.

What personal habits keep you productive and focused?

Clarity, discipline and sense of responsibility are personal habits that keep me focused and productive. I am very clear on what needs to be done and why. When you carry responsibility for so many stakeholders, focus is not optional, it’s a duty. Consumers trust us enough to take our product home and sleep soundly. That trust is a responsibility I do not take lightly. This mindset has shaped my personal habits and greatly influenced the corporate culture of Rite Foods – one built on discipline, accountability, and a relentless pursuit of excellence. Excellence is never the easiest option, but it is always the right one.

 Looking back, what has been your most defining leadership moment, and how did studying abroad shape it?

My most defining moments are the moments I choose excellence over any other consideration. Commitment to excellence comes at a huge cost, but it’s always the best decision to take; not the easiest. Studying abroad teaches excellence. When you travel, you come to realise that excellence is not aspirational; it is simply a way of life. It is being delivered per second in societies all around the world. And once you understand that there is no excuse for settling below it, you force yourself to do the right thing. There is no concept of ‘sorry’, sorry for what? That became a norm I carried back with me. My team will tell you that if something goes wrong, I do not understand the word sorry. Which part of it are you sorry about? Fix it. When we hold board retreats abroad, I deliberately choose places like Dubai or Doha not for leisure, but to show the team what is possible to achieve within one’s lifetime. Countries that were nothing when we were teenagers are now world-class. That tells you something powerful: excellence is possible, and it is possible quickly. From day one, Rite Foods was built on that premise. When we entered the sausage market, there was a competitor that had been there for four decades. People asked how we planned to compete. For me, I knew the answer was in embracing excellence and doing things better than competition.

The company started in 2008 with a single product and today has over 20 products across its brands. At what point did you begin to see the bigger picture?

Rite Foods was built with clarity from day one. The vision was always clear – we just built it one product at a time. We don’t do ‘me too’; we either do it better or we create something new. This deliberate approach to innovation, combined with deep consumer insight, has allowed the company to scale rapidly across categories while maintaining relevance in a competitive market.

What price did you have to pay personally for the company’s growth?

I don’t see a price; I see a privilege. When you realise your business supports entire livelihoods, it stops being about ambition and becomes a responsibility. Back in the days, I visited one of our depots in Onitsha and found about 20 young men waiting outside. The manager told me they were waiting for the sausage truck because when it arrives, they get paid from the offloading. It hit me: if that truck does not show up, those men do not go home with money that day. Their families do not eat. The woman selling food nearby does not make sales. It’s an entire ecosystem. Once you understand that, you stop seeing your role as just building a brand.  Again, I see work as fun because I love what I do. On Fridays, I am almost reluctant to go home. I tell my team the same, find something you love this much.

You’ve built your company around the ‘proudly Nigerian’ mantra. How did this resonate with a market that often sees Nigerian products as inferior?

I would say that one of Rite Foods’ most defining moves was its bold embrace of the Nigerian identity at a time when local products were often perceived as inferior. We were the first to put the Nigerian flag on our labels. We proved that Nigerian identity and world-class quality can coexist. Today, even multinationals follow that playbook by claiming to be ‘proudly Nigerian.’ For me, being ‘proudly Nigerian’ is not a branding exercise; it is a standard. It means excellence, not compromise.

So what sets the company apart as truly Nigerian?

Hundred percent Nigerian ownership, global standards. We never compromise on quality, process, or manufacturing standards. Our management team is entirely Nigerian, but every single process we run is top-notch. We have built entirely Nigerian brands from scratch that are competing favourably with foreign brands. Therefore, for us, proudly Nigerian does not mean second-rate. It means excellence and best-in-class coming out of Nigeria.

So, how do you navigate competition from both incumbents and underdogs in this space?

Rite Foods built its strategy around differentiation, rather than mirroring competition. We don’t copy; we identify gaps and fill them. Innovation and authenticity are our competitive edge. This approach has helped the company hold its own, and in some cases, lead against both established players and emerging challengers in the market.

What about challenges in the economic environment?

Operating in Nigeria’s complex economic environment has not been without challenges. However, we adopt a pragmatic approach to the challenges. The environment compels you to provide all the utilities by yourself.  However, stability is improving, and with that, you can plan. Once you can plan, you can build. I cannot remember the last time I checked the exchange rate every morning in panic.   As a passenger, I feel like someone is driving the car now, and I am reasonably comfortable. We are looking forward to more of that.

Amid challenges, how do you motivate your team to remain innovative and result-driven?

Beyond strategy and products, our people remain our most critical asset. People perform best when they feel valued. So, we create the right environment and innovation becomes natural. Through deliberate internal engagement and a strong focus on employee well-being, Rite Foods has built a culture where ideas are encouraged and performance is sustained.

Many companies in your space folded up post-COVID-19. What kept you even till now?

We stayed resilient by seeing every problem as an opportunity. If you can solve a problem, there is a business in it. If you’re thirsty and I give you something to drink, that’s an opportunity. Tell me any problem, I’ll find a business in it.

Policy-wise, what are your expectations from the government, even in the face of growing geopolitical tensions?

On policy, I would advocate that the government supports local investors with the same energy given to sourcing for foreign investors and watch how fast the economy grows. This is a position shaped by firsthand experience as a local manufacturer navigating infrastructure gaps and structural challenges.

You come from a family that is entrepreneurial. Does this rub off on you in any way?

 Profoundly! Growing up around business taught me one thing early in life – you can compete with anyone and win. This belief is not only embedded in my leadership orientation but also in the very identity of one of our flagship brands – Fearless Energy Drink. I grew up watching my father build AGFA into Nigeria’s leading photo consumables brand with dominant market share.

You studied Mechanical Engineering yet built a career in food and beverage. At what point did the transition happen?

Honestly, food was always my natural space. The engineering degree was more for my parents. In those days, if you were not going to be an engineer, a doctor, or a lawyer, the family was not entirely satisfied. So, I chose one of the three. But the passion for good food runs in me. Throughout my studies, I was constantly drawn to it, looking for ways to learn, experiment and create. I started in the food business before Rite Foods even existed. My wife and I had a small food venture. The path to Rite Foods came when our family’s photo business needed to diversify as digital photography took over.

Mentorship often shapes career paths. How has it influenced yours, and how are you paying it forward to the next generation of leaders?

From reading and studying true success stories, I’ve learned there’s no superman and no smooth road. Everyone stumbles, everyone faces tough times; they just keep going. That’s the lesson. Today, I share my time with young people, being honest about my own journey, which was far messier than it might seem.  I tell people, don’t be fooled by what success looks like from the outside. If you have passion and are willing to work hard, you can succeed. I value mentorship and that is why Rite Foods in partnership with the Sulaiman Adebola Adegunwa Foundation set up an ICT Center at Ososa that empowers 400 students daily, taking them from never touching a computer to actively coding in six months. We believe you cannot nurture talent in a hungry child, so the program also includes a daily meal at no cost to the parents. For us, the true ‘return on investment’ isn’t a trophy; it’s the ripple effect. I recently met a professional at the Nigerian Ports Authority who attributed his entire career to being a beneficiary of our school. When you invest in your own with that level of authenticity, the impact on the national talent pool is automatic.

You admitted the road was rough, but today, Rite Foods stands as a role model in the industry, rising from the top 50 to the top 22 Nigerian brands within four years. What lessons can aspiring and struggling entrepreneurs draw from that journey?

When you love what you do, challenges do not feel like walls. Passion keeps you going, grinding, and eventually, momentum builds. Our early years were especially challenging. We launched products we believed were excellent, but adoption was slow. Take our first sausage roll as an example. For a year, I went from state to state listening to feedback, then returned to the drawing board, adjusted, and relaunched. Those moments tested patience, humility, and resilience. You learn that perseverance matters more than perfection and that listening to the market is as crucial as executing your vision. Our rapid rise on the Top 50 Brands ranking is a reflection of consistency – quality products, continuous innovation, and a genuine connection with consumers across all key brand metrics.

You seem deeply immersed in your work. Do you ever find time to unwind?

Relaxation for me is about mentally resetting while still absorbing ideas that can be applied to the business or personal development. I value time with family and moments of personal reflection. I also read, mostly business literature, case studies, and real-life accounts that will genuinely teach me something I can implement.  I don’t do fiction or entertainment; I struggle with them. My wife has to physically sit me down for Netflix which I endure two or three episodes and then ask if I can go now.  I do not have time for Superman and the likes. How does that one pay me?

How does your day typically run?

My daily routine reflects a sense of purpose – starting the day early, often before dawn, with time set aside for reflection and planning. I believe that if you win in the morning, you control the day. This helps me to set the tone for the day and to think strategically about both company and personal matters.

After that, the day is structured but flexible. Meetings, strategy sessions, product development discussions, or team consultations, they all require my presence and attention.

Looking forward, what legacy would you want to leave in Nigeria’s manufacturing sector?

My legacy is to prove that a truly world-class company can be built from Nigeria, without compromise. I want to build an exceptional company, a place where people are proud to work and where market-leading products are created without cutting corners or compromising on quality. Ultimately, when I step back, I want to be remembered for building a company that was not only a great place to work but one that consistently delivered outstanding products.