Otedola and Dangote are useless twats-----; the only way that can make money is thru MONOPOLY. Eleganza, Rasaq Okoya built his wealth from scratch, he's not given enough credit.

Monopoly is a perfect business practice. It is not illegal in a capitalist economy. Regulating monopolists is the job of the government and not the businessmen. All of us has the monopoly tendency in us and we will only be aware of it when the opportunity arises.


Can somebody expalin the Okoya Thomases because Molade Okoya Thomas seems to be the rich one while Razaq grew rich from him. Whatever the case is, I lost my respect for Razaq the day he built a house in Nigeria and requested for only foreign tenants. He would have been fined heavily if he did such a thing in UK or US.

@ Aloy, I think Razaq is d richer, although i'm no fan of his.

I disagree with the title of dat news article. They are not overdraft billionaires, especially Dangote & Otedola. They may not be as rich as we are made to know but what is certain is dat even after netting off their liabilities(debts) from their assets, their net worth is still in billions. They are multi-billionaires, at list in Naira. Sagamite has said it all, most of their money are tied up in assets, and they may not be that liquid. Secondly, even if they have the cash, why wud they use 20billion cash to finance a project when backs are begging them to come and take credit. Credit is normal in business.
Got more to contribute but limited by typing from fone

Aloy~Emeka:

Monopoly is a perfect business practice. It is not illegal in a capitalist economy. Regulating monopolists is the job of the government and not the businessmen. All of us has the monopoly tendency in us and we will only be aware of it when the opportunity arises.

Can somebody expalin the Okoya Thomases because Molade Okoya Thomas seems to be the rich one while Razaq grew rich from him. Whatever the case is, I lost my respect for Razaq the day he built a house in Nigeria and requested for only foreign tenants. He would have been fined heavily if he did such a thing in UK or US.

Okoya Thomases is NOT Rasaq Okoya. Rasaq Okoya is the owner and founder of Eleganza products and beauty comestics.  You're right Rasaq  only requested for foreign tenants and thats because he only wanted to be paid in dollars and pounds and nothing more.  He also didn't want a case where people wouldn't pay him down the line.

Anyways, that aside, going back to monopoly, IMO there is NOTHING legal about monopoly. If one fills a market void fine. Then you are SMART enough to establish a business that fill a market void for a particular period of time. Thats what makes a successful business owner. Thats fine to me. NOW if one KILLS other business owners and ideas so as only to gain power, then to me that is no capitalism that is Oligarchy.

Microsoft for example, filled a particular market for a LOONG time, I can't imagine them killing Apple, Inc. just so that Bill Gates can continue to remain king of the software/computer world. 1, there would be no workforce development because Apple Inc. can't hire anyone 2. It kills creativity and innovation, there would probably be no Ipods or nice MACs, with Steve Jobs knowing that all his ideas and invention will go to Gates.----- there is NOTHING legal about monopoly. In fact, Capitalism allows for workforce development and a GOOD business should survive competition. If there is NO competition, IMO its not capitalism.

Monopoly is NOT a "perfect business practice."  I don't know if you studied Economics but it is NOT.  Monopolies ARE and should be ILLEGAL in a "good capitalistic society" for the reasons aforementioned.

Policies should be implemented by the government to regulate monopolies because new businesses create jobs which is economic and workforce development. BUT in Nigeria, where people are bribed for supporting businessmen <whom I wouldn't consider successful, because a successful business man can survive in competition.>

Jarus:

@ Aloy, I think Razaq is d richer, although i'm no fan of his.

Thanks @Jarus and Pokasosa

No Rasaq Okoya IS the MAN. He has phenomenal work ethic; don't you use eleganza products ?

I meant outside of the business arena, he often acts like a Arrow

naijababe:

I meant outside of the business arena, he often acts like a Arrow

Exactly my reservation about him.
In social circles, he behaves like agbaaya(apologies, just for want of nicer words)

pat utomi actually said a man pride himself as not having any loan and yet not making progress clearly suggesting that for you to make progress u must borrow.now the platinum bank he founded and chairmaned with his lagos business school expertise is not even among nigeria's 24 banks.and yet he want us to reward him with nigeria's presidency.