Aquariann:


Typical African (or is it Nigerian) victim mentality. It's easier to blame your succeeding/successful neighbour for your failures than try to copy his tried and tasted working template. Or seek the right counsel.

Dangote doesn't just follow the crowd. Everyone in the oil sector was using the easy route of importing. He chose to best route which is to refine locally. Everyone once imported cement, he chose to manufacture.

He now plans now to set up a private university focused on technology research or something like that.

This is a niche I've always wondered why no one wanted to invest in. i.e rather than just follow the band wagon setting up conventional universities with everyday courses, someone should invest in Specialist university.

What I had in mind was even a university of say (strictly) medicine, medical science and drug(including cancer) research sort off. Just think of the huge profits from educational and medical tourism both from Nigerians and foreigners. Nigerians wouldn't have to visit india or John Hopkins

Read this article on Dangote:
http://saharareporters.com/2016/03/25/dangote-paradox-moses-e-ochonu

I respect his acumen as a businessman, but we don't have to pretend Dangote is some kind of Warren Buffett or Larry Ellison. He's more like Nigeria's Abramovich: an oligarch primarily empowered by a crony-capitalist government rather than his enterprise and vision. The Cement industry (which accounts for almost 80% of his turnover) in particular is where the government wrecked Dangote's competitors to facilitate his rapid ascent: especially under Obasanjo.

He's also incredibly ruthless and his impact on the cement consumer market has made the notion of local content in cement production worthless. We might as well be importing cement at cheaper rates if we're going to get ripped off by Dangote and his cartel. Is it any wonder that his cement company made a ridiculous 201b naira profit from a company revenue of 386b in 2013 for example. Yet, prices have remained high, depressing the construction industry. Which government regulatory framework could possibly stop a man who is well entrenched in the corridors of power?

ITbomb:
5th Lesson
Use your Northern connections to bend policies to suit you so that you can create a monopoly and control production.
Meanwhile encourage people to use your "500k investment capital from your uncle" story to deceive youths who do not know that a brand new car then was less than 10k which approximate value today is not less than 5m.

Which means your uncle gave you about N500m today's worth of cash plus free Export/Import licenses to stay ahead

who told your ancestors not to be rich?..

dowjones:


Many people (including you) don't know it was actually 500k dollars

That means 1NGN equal 1USD back then?

Dudeweedlmao:


That means 1NGN equal 1USD back then?

I NGN was probably more

Obi1kenobi:


Read this article on Dangote:
http://saharareporters.com/2016/03/25/dangote-paradox-moses-e-ochonu

I respect his acumen as a businessman, but we don't have to pretend Dangote is some kind of Warren Buffett or Larry Ellison. He's more like Nigeria's Abramovich: an oligarch primarily empowered by a crony-capitalist government rather than his enterprise and vision. The Cement industry (which accounts for almost 80% of his turnover) in particular is where the government wrecked Dangote's competitors to facilitate his rapid ascent: especially under Obasanjo.

He's also incredibly ruthless and his impact on the cement consumer market has made the notion of local content in cement production worthless. We might as well be importing cement at cheaper rates if we're going to get ripped off by Dangote and his cartel. Is it any wonder that his cement company made a ridiculous 201b naira profit from a company revenue of 386b in 2013 for example. Yet, prices have remained high, depressing the construction industry. Which government regulatory framework could possibly stop a man who is well entrenched in the corridors of power?

First question, can you name three cement factories the FG wrecked in other to facilitate Dangote's rapid ascent?

Meanwhile BCC (Benue cement) was owned by the Benue state government and was already moribund before he took over. At least I lived in Benue around this time. So are you going to blame him for Benue State's failures? Besides, it was wasn't a complete take over as the state government still retained their shares and Dangote's got the FG's 35% stake. Benue state still had about 43 million shares (Which ironically, the state government under Suswam wanted to sell).

Second question, is Dangote the only cement manufacturer in Nigeria?

Third question, is Dangote cement the most expensive in the market?

Obi1kenobi:


Read this article on Dangote:
http://saharareporters.com/2016/03/25/dangote-paradox-moses-e-ochonu

I respect his acumen as a businessman, but we don't have to pretend Dangote is some kind of Warren Buffett or Larry Ellison. He's more like Nigeria's Abramovich: an oligarch primarily empowered by a crony-capitalist government rather than his enterprise and vision. The Cement industry (which accounts for almost 80% of his turnover) in particular is where the government wrecked Dangote's competitors to facilitate his rapid ascent: especially under Obasanjo.

He's also incredibly ruthless and his impact on the cement consumer market has made the notion of local content in cement production worthless. We might as well be importing cement at cheaper rates if we're going to get ripped off by Dangote and his cartel. Is it any wonder that his cement company made a ridiculous 201b naira profit from a company revenue of 386b in 2013 for example. Yet, prices have remained high, depressing the construction industry. Which government regulatory framework could possibly stop a man who is well entrenched in the corridors of power?

Can you explain how Obasanjo wrecked his competitors, just for the sake of facts please, cos it seems more like propaganda than fact.

freshest4live:

Can you explain how Obasanjo wrecked his competitors, just for the sake of facts please, cos it seems more like propaganda than fact.

Read this article.
http://newsrescue.com/dangote-refinery-nigerians-will-pay-double-for-petroleum/

I remember an old Thisday my dad bought in 2003 treated it extensively (I was still a JSS kid then ) and my dad, an FIRS retired director who was a tax consultant for Ibeto spent a lot of time railing about how Obasanjo crippled Ibeto's cement business. Dangote around the time was at war with pretty much the entire cement producing cartel because of the government bias towards him which opened the way for his dominance in the sector.

Aquariann:


First question, can you name three cement factories the FG wrecked in other to facilitate Dangote's rapid ascent?

Meanwhile BCC (Benue cement) was owned by the Benue state government and was already moribund before he took over. At least I lived in Benue around this time. So are you going to blame him for Benue State's failures? Besides, it was wasn't a complete take over as the state government still retained their shares and Dangote's got the FG's 35% stake. Benue state still had about 43 million shares (Which ironically, the state government under Suswam wanted to sell).

Second question, is Dangote the only cement manufacturer in Nigeria?

Third question, is Dangote cement the most expensive in the market?

Read some of these Wikileaks reports on Dangote:
——————————————— ——–

¶7. (C) Dangote’s shift toward manufacturing accords with the GON’s nationalistic economic policies, which place a premium on domestic manufacturing and production. What we don’t know is whether Dangote and others like him helped drive the policy or whether their actions were driven by the government policy. Reality is probably a mixture of both.

¶8. (C) In part, because of this shared dream, the Government has been very supportive of Dangote. We know the company at one time or another held exclusive import rights in sugar, cement, and rice using such advantages to do volume business and undercut competitors. In a December 1996 interview, Aliko Dangote admitted that a government mandate once forced him to import so much rice that the local market crashed by almost 80 percent. [2] The direction of GON trade barriers also suggests preferential treatment. High tariffs or outright bans on imported items favor the Group in nearly all areas in which they do business including wheat flour, cement, certain textiles, sugar and pasta.

¶9. (C) Further, the GON is normally slow in privatizing state-owned production facilities. Yet the Dangote Group swiftly won bids on GON-owned manufacturing installations such as the Benue Cement Company and the Savannah Sugar Company, and constructed its own berth at GON-owned Apapa port in Lagos where ships with production inputs offload directly at the Dangote Group factory.

¶10. (U) Dangote is revered for his assumed rise from rags to riches but his family connections reveal a privileged beginning. Dangote is from the prominent Dantata family of Kano State. The Dantata family made its name and wealth in commodity trading. When in his early twenties Dangote showed promise as a young businessperson, his uncle Sanusi Dantata loaned him naira 500,000 (at the time worth USD 500,000) to start out on his own.

¶11. (C) Because of their influence in the Hausa and Muslim communities, Dangote and Dantata have always been useful to both the civilian and military leaders who ruled Nigeria. Dangote enjoyed GON favoritism in the form of importing rights throughout the military regimes and coups of the 1980s and 90s. Though he has connections with political figures throughout the country, his link to Obasanjo (OBJ) paid off when OBJ was elected president in 1999. Since then, Dangote’s market advantages and growth have multiplied.

¶12. (C) Dangote purportedly contributed 200 million naira (about $1.5 million at the time) to Obasanjo’s first election campaign, and in 2003 at least another one billion naira (about USD 7.5 million) for the second term. Dangote is a known contributor to the PDP party. He is a close friend with the governors of Kwara, Kogi, and Ogun states. He also enjoys support from the Sokoto Caliphate, the spiritual and political seat of power of Muslims and members of the Hausa tribe.

¶13. (C) The special relationship Dangote holds with the GON defines the Dangote paradigm. The paradigm demonstrates how easily one powerful person can disrupt Nigeria’s floundering democratic and economic liberalization processes. Along with outright money laundering and corruption, the Dangote paradigm is arguably one of the key factors making Nigeria a politically and economically volatile country and a risky place to do business.

¶14. (C) Dangote openly asserts the GON should do more to manage the economy through protectionist measures to assist what he calls the “Nigerian Industrial Renaissance.” He has no qualms about “alerting the government” or “giving direction” in industrial policymaking. Dangote and some members of the GON justify this protectionism with examples such as US corporate and railroad barons and the gilded era of the late 1800s. This, they say, is the way to lay the foundation for economic growth, particularly in the manufacturing and industrial sectors. However, these alleged historic parallels do not mask the fact that the chummy relationship between Dangote and the GON, while superficially promoting manufacturing in some sectors, is causing destructive and derailing economic activity and democracy in other areas.

——-
Comment
——-

Consul Brian Browne
Consul Brian Browne
¶16. (C) Dangote’s tremendous popularity and acceptance is not likely to diminish. The average Nigerian considers him, and more importantly, his way of doing business, a model to be emulated. The fact is, however, the myriad preferences the GON has bestowed on the Dangote Group have distorted the market in ways that do more harm than good over the long haul. However, the Nigerian Government rarely takes a long-term perspective into account. The GON-Dangote relationship has been, at minimal, very chummy and mutually accommodating. Critics of this relationship would state that it smacks of insider trading.
Dangote does not epitomize the free market at work in Nigeria.What his story reveals is that he is one of the few free-wheeling actors in a relatively and artificially closed economic environment.

Obi1kenobi:


Read this article.
http://newsrescue.com/dangote-refinery-nigerians-will-pay-double-for-petroleum/

I remember an old Thisday my dad bought in 2003 treated it extensively (I was still a JSS kid then ) and my dad, an FIRS retired director who was a tax consultant for Ibeto spent a lot of time railing about how Obasanjo crippled Ibeto's cement business. Dangote around the time was at war with pretty much the entire cement producing cartel because of the government bias towards him which opened the way for his dominance in the sector.

Ibeto did himself, and should have himself to blame

In Nigeria, you have to lobby.

But as a typical Anambra man, he did not do the needful

Dangote has nothing to do with the woes of Ibeto


You guys should come with another story biko

Obi1kenobi:


Read this article.
http://newsrescue.com/dangote-refinery-nigerians-will-pay-double-for-petroleum/

I remember an old Thisday my dad bought in 2003 treated it extensively (I was still a JSS kid then ) and my dad, an FIRS retired director who was a tax consultant for Ibeto spent a lot of time railing about how Obasanjo crippled Ibeto's cement business. Dangote around the time was at war with pretty much the entire cement producing cartel because of the government bias towards him which opened the way for his dominance in the sector.

Dangote in response to this allegation has said he took the risk to build cement factories in the country rather than just import,
and Obasanjo seeing that it was possible to source cement more locally, banned imports. He also said building of that factory nearly failed and were his toughest days in business, as it was his first cement plant then.
Obasanjo merely banned imports, that's all. Can lbeto take that same risk considering how challenging it is to do such things in Nigeria.
Note that Dangote is not a local champion, and has spread across 18 nations in Africa without Obasanjo.

One of the incredible things about Dangote is his company has earned over 2 trillion naira in the last 7 years, and he has made over 1 trillion naira profit in that time at a whopping 52% ratio. It's a consistent trend when you keep looking at his company figures. Any amateur economist (of which I'm one) could easily tell you that is one of the tell-tale signs of a cartel oligopoly that is exploiting a very poorly regulated system. It also calls into question the pricing of his commodities - especially cement where being the undisputed market leader, he is easily the most influential determinant of the pricing.

Obi1kenobi:
One of the incredible things about Dangote is his company has earned over 2 trillion naira in the last 7 years, and he has made over 1 trillion naira profit in that time at a whopping 52% ratio. It's a consistent trend when you keep looking at his company figures. Any amateur economist (of which I'm one) could easily tell you that is one of the tell-tale signs of a cartel oligopoly that is exploiting a very poorly regulated system. It also calls into question the pricing of his commodities - especially cement where being the undisputed market leader, he is easily the most influential determinant of the pricing.

Everything has gone up, there's high inflation and interest rate in Nigeria, why should his cement be cheap? Would you do business that way?

u are my major challenge, but watch out for me sir

freshest4live:

Dangote in response to this allegation has said he took the risk to build cement factories in the country rather than just import,
and Obasanjo seeing that it was possible to source cement more locally, banned imports. He also said building of that factory nearly failed and were his toughest days in business, as it was his first cement plant then.
Obasanjo merely banned imports, that's all. Can lbeto take that same risk considering how challenging it is to do such things in Nigeria.
Note that Dangote is not a local champion, and has spread across 18 nations in Africa without Obasanjo.

Dangote was also an importer at the time. He was at this time made the sole importer of cement (along with commodities like sugar and rice) as one of the perks of his "pioneer status" that he acquired.

Dnagote's spread across Africa is yet another story that indicts the government. His massive forex waivers have allowed him access forex at rates that are far below his competitors. Basically, the Nigerian government have subsidized his sojourns across Africa. It's little different from from the fuel subsidy fraud where marketers are paid for imported products, which they then divert to other African countries.

I've said it several times that I respect Dangote's business acumen, but since the Obasanjo era, he has exploited the rot and incompetence and greed and corruption in the Nigerian government. He's only slightly better than Otedola who basically made most of his money of sharp practises in subsidy and waiver fraud. Oligarchs are not the greatest examples of people to exalt and elevate.

Obi1kenobi:


Dangote was also an importer at the time. He was at this time made the sole importer of cement (along with commodities like sugar and rice) as one of the perks of his "pioneer status" that he acquired.

Dnagote's spread across Africa is yet another story that indicts the government. His massive forex waivers have allowed him access forex at rates that are far below his competitors. Basically, the Nigerian government have subsidized his sojourns across Africa. It's little different from from the fuel subsidy fraud where marketers are paid for imported products, which they then divert to other African countries.

I've said it several times that I respect Dangote's business acumen, but since the Obasanjo era, he has exploited the rot and incompetence and greed and corruption in the Nigerian government. He's only slightly better than Otedola who basically made most of his money of sharp practises in subsidy and waiver fraud. Oligarchs are not the greatest examples of people to exalt and elevate.

I know he was an importer at the time, but can you prove he was made the sole importer? How is that even possible? There are other cement plants in Nigeria and some even before Dangote.
If you say Dangote enjoyed favours from Government, my point is why is he always favoured by every Government, he is not the only one with connections, or is he?

freshest4live:

Everything has gone up, there's high inflation and interest rate in Nigeria, why should his cement be cheap? Would you do business that way?

In other countries, the margins you expect in the business range from -2% to 15%. If a businessman is making over 50% profit on a consistent basis, then he's basically benefitting from a system of exploitation. To be fair, others in the cement cartel followed suit, but Dangote's dominance of the industry was the catalyst for the explosion in cement prices. This article makes some good points about some of the issues:
http://opinion.premiumtimesng.com/2017/05/18/welcome-to-the-federal-republic-of-dangote-by-bongo-adi/

Obi1kenobi:


In other countries, the margins you expect in the business range from -2% to 15%. If a businessman is making over 50% profit on a consistent basis, then he's basically benefitting from a system of exploitation. To be fair, others in the cement cartel followed suit, but Dangote's dominance of the industry was the catalyst for the explosion in cement prices. This article makes some good points about some of the issues:
http://opinion.premiumtimesng.com/2017/05/18/welcome-to-the-federal-republic-of-dangote-by-bongo-adi/

Your article supports my point, Dangote is only making the most from the failures of Government, this is what capitalists do.
Why l don't like criticism of Dangote is this..
He is investing and creating jobs and not in the West but in Africa. Whatever we say about his refinery, it would remain on Nigerian soil for generations to come even after Dangote, and if successful would solve some little problems no matter what, monopoly or no monopoly. Other Billiinares should follow suit(including me), solve little problems, take risk. Dangote needs our support at this time, the shouts of monopoly every now and then whenever his laudable project comes up is becoming stale.
As regards your first point, note that Dangote also suffered the effects of the recession and his net worth suffered from the fall of the naira, it was reduced by half.

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freshest4live:

Your article supports my point, Dangote is only making the most from the failures of Government, this is what capitalists do.
Why l don't like criticism of Dangote is this..
He is investing and creating jobs and not in the West but in Africa. Whatever we say about his refinery, it would remain on Nigerian soil for generations to come even after Dangote, and if successful would solve some little problems no matter what, monopoly or no monopoly. Other Billiinares should follow suit(including me), solve little problems, take risk. Dangote needs our support at this time, the shouts of monopoly every now and then whenever his laudable project comes up is becoming stale.
As regards your first point, note that Dangote also suffered the effects of the recession and his net worth suffered from the fall of the naira, it was reduced by half.

I think his refinery is a brilliant vision if it doesn't become another instrument of exploitation like we saw with cement. Cement price more than doubled after the import ban and despite the massive profits of the cement cartel, they've done nothing significant to crash the price. Our local cement is one of the most expensive in the world. Dangote's refinery project has been making the same kind of noise about how price will come down, but considering the monopoly he will have (his refinery will single-handedly cover Nigerian demand and we'll become a net exporter of refined crude), he'll be able to dictate market price and continue earning his massive profits with government compliance. Just read this funny article and the understandable fears:
http://newsrescue.com/dangote-refinery-nigerians-will-pay-double-for-petroleum/

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Obi1kenobi:


I think his refinery is a brilliant vision if it doesn't become another instrument of exploitation like we saw with cement. Cement price more than doubled after the import ban and despite the massive profits of the cement cartel, they've done nothing significant to crash the price. Our local cement is one of the most expensive in the world. Dangote's refinery project has been making the same kind of noise about how price will come down, but considering the monopoly he will have (his refinery will single-handedly cover Nigerian demand and we'll become a net exporter of refined crude), he'll be able to dictate market price and continue earning his massive profits with government compliance. Just read this funny article and the understandable fears:
http://newsrescue.com/dangote-refinery-nigerians-will-pay-double-for-petroleum/

The problem then is not with Dangote but the Federal Government. Federal Government can also ensure the other refineries work to capacity, using Dangote refinery as a support base.

Obi1kenobi:


I think his refinery is a brilliant vision if it doesn't become another instrument of exploitation like we saw with cement. Cement price more than doubled after the import ban and despite the massive profits of the cement cartel, they've done nothing significant to crash the price. Our local cement is one of the most expensive in the world. Dangote's refinery project has been making the same kind of noise about how price will come down, but considering the monopoly he will have (his refinery will single-handedly cover Nigerian demand and we'll become a net exporter of refined crude), he'll be able to dictate market price and continue earning his massive profits with government compliance. Just read this funny article and the understandable fears:
http://newsrescue.com/dangote-refinery-nigerians-will-pay-double-for-petroleum/

Bro, just accept you don't like the man.

http:/www.nairaland.com/3001766/dpr-issues-21-licences-new

https://www.nairaland.com/2558252/buhari-approves-65-licences-private

Dangote wasn't the only one who won bids for setting up private refineries. This monopoly y'all keep shouting is becoming annoying because the facts are there to be verified but y'all wouldn't even bother to try and confirm.

A certain Capt Emmanuel Iheanacho, also won a bid amd plans to build his own refinery also in Lagos

http://thenationonlineng.net/ex-minister-to-build-refinery-in-lagos/

Ogun state plans one too

https://www.nairaland.com/3377590/ogun-signs-agreement-build-refinery

Lagos and Akwa Ibom (partnering with AGIP) also won bids for modular refineries and are also planning theirs.

But rather than question why the rest haven't started work despite winning bids, you'll hate on a serious Dangote who has since started his own. Accusing him of a monopoly that exists only in your imaginations.

ITbomb:
5th Lesson
Use your Northern connections to bend policies to suit you so that you can create a monopoly and control production.
Meanwhile encourage people to use your "500k investment capital from your uncle" story to deceive youths who do not know that a brand new car then was less than 10k which approximate value today is not less than 5m.

Which means your uncle gave you about N500m today's worth of cash plus free Export/Import licenses to stay ahead

Exactly. I did the maths once too. A brand new volkswagon was N3,500 in 1976.
N500,000 could buy 142 cars brand new. Dangote got the equivalent of N200million naira or enough money to buy 142 cars at age 22 to do business.
He is not gifted. He's just unusually lucky.

Aquariann:


Bro, just accept you don't like the man.

http:/www.nairaland.com/3001766/dpr-issues-21-licences-new

https://www.nairaland.com/2558252/buhari-approves-65-licences-private

Dangote wasn't the only one who won bids for setting up private refineries. This monopoly y'all keep shouting is becoming annoying because the facts are there to be verified but y'all wouldn't even bother to try and confirm.

A certain Capt Emmanuel Iheanacho, also won a bid amd plans to build his own refinery also in Lagos

http://thenationonlineng.net/ex-minister-to-build-refinery-in-lagos/

Ogun state plans one too

https://www.nairaland.com/3377590/ogun-signs-agreement-build-refinery

Lagos and Akwa Ibom (partnering with AGIP) also won bids for modular refineries and are also planning theirs.

But rather than question why the rest haven't started work despite winning bids, you'll hate on a serious Dangote who has since started his own. Accusing him of a monopoly that exists only in your imaginations.

Pointing out monopolistic practises is not an accusation against Dangote. It's more an indictment of the Federal Government. You also seem to have an extreme view of what monopoly is. I'm no economist but I'd hazard a guess what we were taught in our secondary school textbooks is the simplistic definition. It doesn't just mean a singular party totally controlling the market, but a dominant player who uses predatory practises and uses their considerable leverage to erect barriers to competitors. You can study the legal case of the US government against Microsoft in '98 where Microsoft, whose Windows operating systems powered 9 in 10 PCs in the world, was accused of monopolistic, exploitative practices. This hardly means Microsoft were the only software vendor in the whole of the USA.

Dangote's refinery project in sheer scale would certainly eclipse all the competition: probably all the competition combined. This gives him a lot of leverage if he chooses to be exploitative. If he chooses to sell refined fuel at 150 naira per litre, there would be no credible competition with sufficient output and supply across the nation to force him to crash his price.

IamaNigerianGuy:


Exactly. I did the maths once too. A brand new volkswagon was N3,500 in 1976.
N500,000 could buy 142 cars brand new. Dangote got the equivalent of N200million naira or enough money to buy 142 cars at age 22 to do business.
He is not gifted. He's just unusually lucky.

I wouldn't go as far as saying he's not gifted. Creating hundreds of billions of naira from N200million is a big achievement.

Obi1kenobi:


Pointing out monopolistic practises is not an accusation against Dangote. It's more an indictment of the Federal Government. You also seem to have an extreme view of what monopoly is. I'm no economist but I'd hazard a guess what we were taught in our secondary school textbooks is the simplistic definition. It doesn't just mean a singular party totally controlling the market, but a dominant player who uses predatory practises and uses their considerable leverage to erect barriers to competitors. You can study the legal case of the US government against Microsoft in '98 where Microsoft, whose Windows operating systems powered 9 in 10 PCs in the world, was accused of monopolistic, exploitative practices. This hardly means Microsoft were the only software vendor in the whole of the USA.

Dangote's refinery project in sheer scale would certainly eclipse all the competition: probably all the competition combined. This gives him a lot of leverage if he chooses to be exploitative. If he chooses to sell refined fuel at 150 naira per litre, there would be no credible competition with sufficient output and supply across the nation to force him to crash his price.

You sir, I'm afraid, just have issue with this guy. So Dangote shouldn't build a big refinery because he doesn't want to swallow other people?

In a Tiv man's voice I shout: "Wonder"

Didn't they all bid according to their capacities? Mehn, I'm just speechless. Can't believe you're hating on the man for dreaming big.

Aquariann:


You sir, I'm afraid, just have issue with this guy. So Dangote shouldn't build a big refinery because he doesn't want to swallow other people?

In a Tiv man's voice I shout: "Wonder"

Didn't they all bid according to their capacities? Mehn, I'm just speechless. Can't believe you're hating on the man for dreaming big.

You keep misunderstanding my arguments in your extreme defensiveness. I have said his refinery project is fantastic for the country and the economy. But it is conditional on him and his few smaller competitors not turning the sector into another exploitative venture to fleece Nigerians. It seems you think if I don't genuflect and kiss his feet, then I'm a hater. I've praised his business acumen here several times, but I've rightly pointed out factors that have influenced his expanded business empire and influence other than simplistically trying to claim all his achievements are a product of his genius and business enterprise.

Obi1kenobi:


I wouldn't go as far as saying he's not gifted. Creating hundreds of billions of naira from N200million is a big achievement.

200 million was the loan. There was much more where that came from as well as political support from successive regimes.
The stars aligned for Dangote. He's a 21st century robber baron who knows how to get good press.

IamaNigerianGuy:


200 million was the loan. There was much more where that came from as well as political support from successive regimes.
The stars aligned for Dangote. He's a 21st century robber baron who knows how to get good press.

A man who can sustain business in about 18 countries and still continually invest is definitely no small man, and l ask you where are the other top business men with their political support? You have no case man. If the man can be supported by every regime as you say, then there must be something each Government sees in him or there must be something he does better than the others.

freshest4live:

A man who can sustain business in about 18 countries and still continually invest is definitely no small man, and l ask you where are the other top business men with their political support? You have no case man. If the man can be supported by every regime as you say, then there must be something each Government sees in him or there must be something he does better than the others.

I agree with you. I was just playing devils advocate.

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IamaNigerianGuy:


Exactly. I did the maths once too. A brand new volkswagon was N3,500 in 1976.
N500,000 could buy 142 cars brand new. Dangote got the equivalent of N200million naira or enough money to buy 142 cars at age 22 to do business.
He is not gifted. He's just unusually lucky.

Everything is not abt luck, dere are more pple who are more luckier Dan him...