Food for Thought

[emmanuel ewumi]

Originally Posted by nosa2

With all the rent seeking going on in this economy guys are doing deals and making billions while employing only 1 P.A, driver, houseboy and gateman. E be like say oga Emma no dey Lagos, Abuja or P.H, I know a guy that made millions if not billions from arranging cell sites for MTN, I know another guy who made close to N100m from agency fee for land sale in Abuja, a lot of things dey happen for here oh, I almost feel sorry for those abroad.

What is the impact of their billions on our economy. Your billions needs to have multiplier effects on our economy. A true billionaire needs to produce 5 to 10 millionaires in an economy.

A Dangote is a golden fish that has no hiding place. With his networth the least jobs he will create is 1000.

[emmanuel ewumi]

Originally Posted by overload

hmmmm. how old is Dangote now?

55 years old.

[emmanuel ewumi]

Originally Posted by emmanuel ewumi

You need to give respect to such a person. That is why I have so much respect for my late mentor, he was able to build a networth of over 10 million dollars for himself via the stock market and later real estate. He retired way back in 1979 at the age of 37.

Definitely all of us can never be a Dangote, i don't think Nigerian economy can accommodate more than 20,000 Dangotes. Anybody who legitimately builds a networth of a billion Naira in Nigeria deserves our respect.

As little as a networth of 10 million dollars is to some of us, I am not inclusive. This man was able to give assets of over 200 million Naira to each of his 4 kids, who were in there 30s, when he died. These kids have also made their own impact in their various professions and investments. This gave them an edge over most of their contemporaries.

[Oracle]

Originally Posted by horlads

Bros, I tire oh...and the explanation was that JB was the one handling the project...I've decided to stop shouting corruption in this country cos the people who will shout with you are equally as corrupt and when the gbege gas, you will find out that you're d one who's lost on both sides....Money u no thief, ur health go deteriorate on top...

If it is JB that is handling it, then na inside that rock the hall go dey. More like Acropolis of Athens.

[emmanuel ewumi]

Originally Posted by emmanuel ewumi

What is our GDP? What is the networth of 20,000 Dangotes? 20,000 Dangotes will be 20,000 x 10 billion dollars.

Oya do the maths.

That is 200 Trillion dollars. Assuming these assets gives a modest return of 5%, that is 10 Trillion dollars per annum.

Dangote's networth as at November 2012 is over 12 billion dollars.

[emmanuel ewumi]

How many billionaires are in the US

[emmanuel ewumi]

How Many Billionaires Are There in the World?

[emmanuel ewumi]

Originally Posted by emmanuel ewumi

How Many Billionaires Are There in the World?

Definitely we can not have 20,000 Dangotes in Nigeria. The population of billionaires in the world is less than 2000.

It is very rare although not impossible to accumulate the size of his networth in one generation.

[emmanuel ewumi]

Originally Posted by emmanuel ewumi

How Many Billionaires Are There in the World?

The United States has a little over 400 billionaires.

[Oracle]

Originally Posted by nosa2

Don't limit your imagination, the description used by my bros was heaven on earth, anything you can think of is available if it's not available locally it's flown in

Omo, I go like chop for there then! For a 3-course meal, I will tell them:

Starter: special icelandic lettuce + olives (planted in a convent in Sicily)

Main: Jollof rice garnished with tiny Peruvian Octopus and squids

Desert: Gaziantep Baklava with a cream of milk from a goat in somaliland

Bros, I go just fold my arms dey wait for dem to dey run helter-skelter!

[Oracle]

Originally Posted by emmanuel ewumi

Dangote was worth more than a billion Naira in 1987, when he clocked 30 years. He is was a third generation Millionaire way back in 1979. Aliko started about 35 years ago, and he did not start from the scratch he is from a family of successful traders and businessmen in Kano.

Then much of it was inherited from Uncle( abi na grandpa)!!!

[emmanuel ewumi]

Black billionaires - Wikipedia, the free encyclopedia

[emmanuel ewumi]

Originally Posted by Oracle

Then much of it was inherited from Uncle( abi na grandpa)!!!

Whether it was inherited or not, the man is a very good businessman, entrepreneur, and opportunities hunter.
His inheritance should be less than 5% of his networth, but business acumen runs in the family. A lot of successful businessmen are now grooming their kids in the science and art of money making.

[emmanuel ewumi]

Aliko Dangote - Wikipedia, the free encyclopedia

[emmanuel ewumi]

Originally Posted by emmanuel ewumi

Aliko Dangote - Wikipedia, the free encyclopedia

Aliko Dangote was born in the northern Nigerian state of Kano on April 10, 1957 into a wealthy Hausa-Muslim family. His mother Mariya Sanusi Dantata was the granddaughter of legendary Hausa businessman Alhassan Dantata, and his father Mohammed Dangote was Dantata's business associate.

Dangote had an early interest in business: "I can remember when I was in primary school, I would go and buy cartons of sweets [sugar boxes] and I would start selling them just to make money. I was so interested in business, even at that time." he said during an interview. He attended the Al Azhar University in Cairo, Egypt where he studied business,and later returned back to Nigeria to work with his uncle Sanusi Abdulkadir Dantata who eventually gave him a business loan of =N=500,000 (Naira)when he was just 21 years old.

[Oracle]

Originally Posted by emmanuel ewumi

As little as a networth of 10 million dollars is to some of us, I am not inclusive. This man was able to give assets of over 200 million Naira to each of his 4 kids, who were in there 30s, when he died. These kids have also made their own impact in their various professions and investments. This gave them an edge over most of their contemporaries.

That man really looked older than his age. It was as if he didn't want to chop his money at all. I saw his picture and tried to compare all you have been saying.

[emmanuel ewumi]

Originally Posted by Oracle

That man really looked older than his age. It was as if he didn't want to chop his money at all. I saw his picture and tried to compare all you have been saying.

He had a terminal disease. That is why, i try to write on healthy living.

[Oracle]

Originally Posted by emmanuel ewumi

Whether it was inherited or not, the man is a very good businessman, entrepreneur, and opportunities hunter.
His inheritance should be less than 5% of his networth, but business acumen runs in the family. A lot of successful businessmen are now grooming their kids in the science and art of money making.

I'm not doubting his qualities. I'm only saying that the inheritance was enough to kickstart anything. He was prudent too!

Imagine us starting from scratch!

[emmanuel ewumi]

Originally Posted by emmanuel ewumi

Aliko Dangote - Wikipedia, the free encyclopedia

The Dangote Group, originally a small trading firm founded in 1977, is now a multi-trillion naira conglomerate with operations in Benin, Ghana, Nigeria, and Togo. Dangote's businesses include food processing, cement manufacturing, and freight. The Dangote Group dominates the sugar market in Nigeria: it is the major sugar supplier to the country's soft drink companies, breweries, and confectioners. Dangote Group has moved from being a trading company to Nigeria's largest industrial group including: Dangote Sugar Refinery,, Dangote Cement, and Dangote Flour amongst others.


Aliko Dangote has a knack for seeing opportunity that others can't see[citation needed]. He approached the Nigerian Ports Authority with the idea of leasing an abandoned piece of land at the Apapa Port, where he subsequently built facilities for his flour company. When other flour companies protested, the chairman of the NPA, Chief Olabode George stated that Dangote was the one who came up with the idea. Similarly, in the 1990s when he approached the Central Bank of Nigeria with the idea that it would be cheaper for the bank to allow his transport company to manage their fleet of staff buses.

[wanaj0]

Originally Posted by emmanuel ewumi

Aliko Dangote was born in the northern Nigerian state of Kano on April 10, 1957 into a wealthy Hausa-Muslim family. His mother Mariya Sanusi Dantata was the granddaughter of legendary Hausa businessman Alhassan Dantata, and his father Mohammed Dangote was Dantata's business associate.

Dangote had an early interest in business: "I can remember when I was in primary school, I would go and buy cartons of sweets [sugar boxes] and I would start selling them just to make money. I was so interested in business, even at that time." he said during an interview. He attended the Al Azhar University in Cairo, Egypt where he studied business,and later returned back to Nigeria to work with his uncle Sanusi Abdulkadir Dantata who eventually gave him a business loan of =N=500,000 (Naira)when he was just 21 years old.

Two things. Firstly, better to use USD to get proper pespective of the amount of money we are talking about.

Secondly, for all the successes of Dangote, seems he ONLY succeeded where there is no competition (government protection/patronage). Everytime he has had to compete (level playing field) he always fail. You can see that with his foray into banking and now food (Flour and Sugar). I foresee same thing happening with regards to Cement.

Depending SOLELY on government protection is not the way to go. This is like killing everyother person for ONE man to survive.