[img]http://3.bp..com/-reVfZ6cVPnU/VkpLXDufm-I/AAAAAAAABGw/Rf8kacarSfk/s200/dangote.jpg[/img]
Each time people say Dangote started with 500,000 Naira, I shake my head and tell myself if only they knew what that worth back then.

[img]http://4.bp..com/-O6LzAD12sng/VkpLXDADxxI/AAAAAAAABGs/tSjN-Pvxeo4/s320/dangote%2Bstart.JPG[/img]
Dangote as a firm was founded in 1981.

In 1981 a Dollar equivalent to Naira was NGN0.61 (61kobo)

REF (Naira Historical Value): https://en.wikipedia.org/wiki/Nigerian_naira


Dangote got N500,000 to kick start his business at this period.


Today a dollar equivalent to Naira is set at NGN197 (197 Naira).

Multiplying 500,000 by 197 will give us NGN98,500,000 (98.5 Million Naira)


I also wonder why people keep preaching about Dangote been from Rags to Riches when he was actually born into a wealthy family in 1957.

REF: https://en.wikipedia.org/wiki/Aliko_Dangote


Who on earth will lend out 98.5million to someone today?

When this happens, I will continue this article.


Till then, people should stop saying Dangote started with 500,000 Naira like its a meager amount of money, because its actually 98.5million Naira today!

via AJtheGeniuS

cc: lalasticlala

not worth any news. go and make your billions.. mr bloke

I was telling my pastor this just last week. So on point. @op

estherdim:
not worth any news. go and make your billions.. mr bloke

What's this one saying?

Let this topic be hidden immediately.

Many of us kneel in supplication before a small, greasy portrait of Aliko Dangote every night, in order that we may contract some of that superhuman business sense and industry that enabled him build a multi-billion dollar enterprise from capital only slightly larger in sum than the price of my neighbour's newly-acquired keke napep.

If there is any truth to this insidious revelation, then it is clear that to make any headway in business, I must adjust my capital drive to the rather depressing sum of N98,500,000. But all hope is not lost. I have only N98,499,900 to go. And that doesn't even include the money put aside for my internet subscription tomorrow.

Nickydrake

LOL. But the op has stated the fact.
People tend to deceive us with that sentence. "Dangote started with 500k"

Its just unfair.

lalasticlala ishilove biko do the needful.
This thing has been deceiving people for long.

I think the OP is right. Considering the currency exchange rate when Dangote got a fund of 500,000 Naira, it is arguably considered a huge sum then.

All the same, if the man had not managed the fund diligently, he might not reach the height he currently occupies.

Keep calm & build your own empire.

Were you there?

mosjames:
Were you there?

Dangote said this himself. Google search "How dangote started" to see.

Fact!