Forbes list of billionaire claim that Dangote is the richest Nigeria followed by Otedola,

Do you think this two are richer than IBB and all the politicians that have been looting our money,

Who do you think are the 5 richest Nigeria?

No obj is

The ranking is based on verifiable wealth. The worths of those ex-Presidents, Politicians etc are unverifiable, kept in secret accounts all over the world.

Anyway, for 5 richest Nigerians, I go like this:
1, Dangote
2, Mike Adenuga
3, Femi Otedola
4, Jim Ovia
5,

Otedola's making of Forbes list, and Mike's not, tells he's now richer than Mike. But I'm still taking my list as I knew before latest ranking. Difficult to digest Otedola richer than the 'bull'.

Forbes computes networth based on quoted stock holdings of individuals and NOT net assets or other unquoted investments. Only a very tiny fracion of Adenuga's business is quoted (conoil plc) the main companies Global com, ETB and Conoil producing are not considered cos they are not quoted. Globalcom alone is worth at least $10 billion talk less of other investments and companies he owns over seas. i am quite certain that the bull is substantially richer than Dangote talkless of femi

KunleOshob:

Forbes computes networth based on quoted stock holdings of individuals and NOT net assets or other unquoted investments. Only a very tiny fracion of Adenuga's business is quoted (conoil plc) the main companies Global com, ETB and Conoil producing are not considered cos they are not quoted. Globalcom alone is worth at least $10 billion talk less of other investments and companies he owns over seas. i am quite certain that the bull is substantially richer than Dangote talkless of femi

Good explanation there.
Just difficult to agree that FO is richer than Mike.
As regards Aliko Vs The Bull, it's very tight but I somehow believe Dangote has a deeper pocket.

Forbes computes networth based on quoted stock holdings of individuals and NOT net assets or other unquoted investments. Only a very tiny fracion of Adenuga's business is quoted (conoil plc) the main companies Global com, ETB and Conoil producing are not considered cos they are not quoted. Globalcom alone is worth at least $10 billion talk less of other investments and companies he owns over seas. i am quite certain that the bull is substantially richer than Dangote talkless of femi

Good point.
Forbes will only list you if you make yourself available.
Femi Otedola will tell you straight up that Mike is richer not only 2 times but 6 times richer.

Dangote is the only nigerian on that list.

zomby:

Good point.
Forbes will only list you if you make yourself available.
Femi Otedola will tell you straight up that Mike is richer not only 2 times but 6 times richer.

FO himself will feel flattered!

afam4eva:


Dangote is the only nigerian on that list.

You must be talking about 2008 list. We are talking about the just published 2009 list. Update your knowledge.

Jarus:

Good explanation there.
Just difficult to agree that FO is richer than Mike.
As regards Aliko Vs The Bull, it's very tight but[b] I somehow believe Dangote has a deeper pocket.[/b]

Well when you net off his exposure to the banks you would discover that there is not so much left. Dangote is the biggest individual debtor in the nigerian banking industry today. On the contrary Mike as been producing crude oil for over 15 years and he makes millions of dollars on a daily basis. Even though he is also exposed to foreign banks he is highly liquid and the loans are being adequtely serviced. Globalcom alone generates N500-N700 million naira on a daily basis from their local nigerian operations alone, that is not to say what is being generated in benin and Ghana. That apart glo gateway is operational in all the continents of the world carrying international calls for various operators. i hate to imagine the the amount of money he would generate from glo1( submarine fibre optic cable from Lagos to London and newyork) when it becoms operational in May this year.

KunleOshob:

Well when you net off his exposure to the banks you would discover that there is not so much left. Dangote is the biggest individual debtor in the nigerian banking industry today. On the contrary Mike as been producing crude oil for over 15 years and he makes millions of dollars on a daily basis. Even though he is also exposed to foreign banks he is highly liquid and the loans are being adequtely serviced. Globalcom alone generates N500-N700 million naira on a daily basis from their local nigerian operations alone, that is not to say what is being generated in benin and Ghana. That apart glo gateway is operational in all the continents of the world carrying international calls for various operators. i hate to imagine the the amount of money he would generate from glo1( submarine fibre optic cable from Lagos to London and newyork) when it becoms operational in May this year.

Good analysis, Kunle. We learn everyday.

Well when you net off his exposure to the banks you would discover that there is not so much left. Dangote is the biggest individual debtor in the nigerian banking industry today. On the contrary Mike as been producing crude oil for over 15 years and he makes millions of dollars on a daily basis. Even though he is also exposed to foreign banks he is highly liquid and the loans are being adequtely serviced. Globalcom alone generates N500-N700 million naira on a daily basis from their local nigerian operations alone, that is not to say what is being generated in benin and Ghana. That apart glo gateway is operational in all the continents of the world carrying international calls for various operators. i hate to imagine the the amount of money he would generate from glo1( submarine fibre optic cable from Lagos to London and newyork) when it becoms operational in May this year.

Another good point.
Mike also makes money by sec (he makes money whenever a phone call is made). Now, do you know how many people in Ghana, Rep. of Benin and Nigeria that are making phone calls as we speak?
Sometimes, the quiet ones are the biggest ones.
Forbes will only list you if you make yourself available. Mike is never available, he's too busy thinking about turning ₦1.00 to ₦10000000000

zomby:

Another good point.
Mike also makes money by sec (he makes money whenever a phone call is made). Now, do you know how many people in Ghana, Rep. of Benin and Nigeria that are making phone calls as we speak?
Sometimes, the quiet ones are the biggest ones.
Forbes will only list you if you make yourself available. Mike is never available, he's too busy thinking about turning ₦1.00 to ₦10000000000

Dangote makes his money yearly abi?
Dangote is a jobless Bleep abi?

Another point of note is that mike Adenuga was the only nigerian that could singularly recapitalize his bank(ETB) to N25 billion naira during the banking consolidation all others had to go to the capital market or bring in foreign investors. today his bank remains the only privately owned(unquoted)Nigerian bank in the country asides the foreign owned banks.

Mike is never available, he's too busy thinking about turning ₦1.00 to ₦10000000000

This, to me too, is not valid enough an argument, much unlike the 'quoted stockholding' argument.
Dangote is equally busy, if not busier. I understand Mike's style of management, where he oversees almost everything, including interviewing an entry level job applicant, but you know Aliko is also busy jumping from one meeting to another.

By the way, can Adenuga be busier than the capitalist US billionaires that made the list?

Kai when una go dey analyse my wealth as well like this nah. Well, By Gods grace very soon.    

1-ibb 2-obj 3-abacha 4-the rest of us.we that own the oil are supposed to be the richest but are being ripped off.which south-south man is even there?even in forbes we have hausa-dangote,yoruba-otedola,south-south-egheleghe.

Jarus:

You must be talking about 2008 list. We are talking about the just published 2009 list. Update your knowledge.

Update your pocket

@poster

Do you think this two are richer than IBB and all the politicians that have been looting our money,

please read your line again? IBB and the politicians you are refering to are looters not rich. They don't even
have the skill to make genuine money. If they hadn't stolen in the past you will not even have been considering
them now.

So, please and please don't mix thief with people who work for their money. There is dignity in labour and
the Otedolas, Dangotes and the rest deserve to be celebrated not the likes of IBB who should be rotting in jail now
if he was in a sane country?

@ KunleOshob
Your analysis are sound and well noted.

Really, where does all this leave the poor masses of Nigeria?
Some of this individuals are benefitting from the ills of our past
and present leaders, who gave them soft landing at the expense
of all of us.

let dangote pay his taff first b4 we know his worth. Graduates ar started with 61k at his multi billion money spinning cement coy in kogi state, guys, think about that.

Adenuga cld b the richest. every call on glo, his pocket swells.

Sssh !!! Do not say I told you, the richest Naija is Peter Odili

Without question, Adenuga should be the richest.
He has his fingers sooo deep in the three most lucrative sectors of the economy- Oil & Gas(upstream), Telecoms and Banking! That's deep!
Dangote on the other hand is basically a trader.(no disrespect intended)

The reason Adenuga is not on Forbes is simple- no PLCs. Forbes basically makes assessments based on quantifiable wealth and for Nigeria they make do strictly with stock values.

Otedola is on the list this year because of his shares in AP. Zenon was probably barely taken into consideration!