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The Management of NIKOY Nigeria Limited, a frontline agro-business company which specializes in grains processing and haulage has inaugurated two innovative subsidiaries : ACE Wash N Dry  Laundromat and  Work Hive Co-work Space in pursuit of strategic diversification programme.

Besides, the two new companies have been established to meet the aspirations of millennials whose activities are technological driven in all areas of human endeavours

In his welcome address at the commissioning of the new subsidiaries in Lagos, NIKOY’s founder and Chairman, Mr Olawale Oyedele explained that the decision to embark on diversification into the two companies was informed by globalization which has brought into fore, the imperative of technological-driven approach to human activities.

Oyedele noted that rather than re-invent the wheel, ACE Wash N Dry Laundromat and Work Hive Co-Work Space would add value to the existing ways of conducting the businesses in Nigeria.

According to him, the philosophy which underpins the companies’ operations is affordability across a wide spectrum of the society without compromising quality service delivery.

“As a fallout of globalization, Nigerian millennials are in dire need of technological-driven office space at reduced cost. Our corporate innovativeness has therefore brought about the decision to float Work Hive Co-Work Space to create a global working environment for these future drivers of our economy. The two new companies are therefore established to operate at global best standard.

“The Laundromat business focuses on the imperative of modern-day technology which is the love of our millennial teeming

population. The self-service business of dry cleaning which can be done at the shortest possible space of time and at affordable cost. It is gradually emerging in Nigeria”., Oyedele said. He urged the government to create enabling environment for entrepreneurship to thrive, particularly, power supply.

Speaking on the conceptualization of the idea behind the Laundromat, the Managing Director, Ace Wash N Dry Laundromat and Work Hive Co-Work Space, Ms Mojisola Oyedele, described it as borne out of the need to bring professionalism and global standard to laundry in Nigeria.

According to her ACE N Dry Laundromat would reduce the high cost and longer time it takes to get the actual work delivered.

In his address, the Chairman at the occasion and a former Governor of the

Central Bank of Nigeria, Dr. Joseph Sanusi, stated that the two new businesses had been established on the pillars of integrity, skills, value and determination to sustain quality services at reasonable price for all.

Also speaking on enabling environment for entrepreneurs, the Chairman, Olusegun Osunkeye and Associates, Chief Olusegun Osunkeye advocated government’s revival of the country’s ailing infrastructure.

Osunkeye said, “I congratulate the management and staff of Ace Wash n

Dry Laundromat and Work Hive Co-Work Space on these initiatives. I urge government to create enabling environment for entrepreneurs through provision of necessary infrastructure. The industrial sector is facing problems of access to finance, power, skills and Binfrastructure, said Osunkeye.

The industrialist took a swipe at the current Bill that mandates banks and insurance companies to cede ten percent of their profit before tax to the National Housing Scheme as vexatious. Osunkeye argued that such policy would impact negatively on shareholders’ dividend and allowances of pensioners.

In his remarks, the Executive Director,Stambic IBTC, Mr Wole Adeniyi who represented the bank’s Managing Director,Dr Demola  Sogunle congratulated the new companies management and stressed the need for professionalism in their operations.

The ceremony was attended by captains of industries, including leaders of leading shareholders’ associations.

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