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Nairaland Forum / Nairaland / General / Business / Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" (44092 Views)
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Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by Nobody: 12:22pm On Jan 31, 2018 |
eTECTIVe: Very wrong.... |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by MrMcJay(m): 12:22pm On Jan 31, 2018 |
hostkobo: My brother, most people are suffering from the worst form of poverty - intellectual poverty. You know the thing about intellectual poverty? It makes one unable to pay attention. Without paying attention, you can't identify opportunities. Wuthout identifying opportunities, you can't make progress. 1 Like 1 Share |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by SmartyPants(m): 12:23pm On Jan 31, 2018 |
nuttyhnic: Everything on the internet is there for everyone to choose to read or not. The way you are ranting it sounds as though you have been forced to read at gunpoint! 4 Likes 1 Share |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by enigma2007(m): 12:26pm On Jan 31, 2018 |
americanson: Yes. Else his successes will always be attributed to his father even if the father did not have a hand in the process. I like his spirit 1 Like |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by eTECTIVe(m): 12:27pm On Jan 31, 2018 |
Gungnir: U don't know any successful people who either dont believe in God or belong to any religion? |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by Nobody: 12:29pm On Jan 31, 2018 |
eTECTIVe: I know enough, my point is, you had exalted money above God. And you seem to think all wealth is the blessing of God... |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by americanson: 12:32pm On Jan 31, 2018 |
chronique: Yeah, that is why I am fighting hard to raise money all on my own.Nigerians hardly invest in "idea" and i hate the feelings that comes with people looking at you like you are stupid when you talk about an idea. Your dad is right by Nigerian standard.. banks are only interested in financing instant gratification ventures... that is invest today, get paid tomorrow with monster interest. That is why they will support Dangote than you and I. .I had to force myself last year to start strike my first biggest multimillion naira deal with a commission of 2-10Million naira per deal, It is a supply based initiative... Once i have gotten enough pay from this idea, I will move on to the next dream business which is a franchise of sort to revolutionize a sector within Nigeria like the man behind Pure Water industry... May major worry is that i would like to reduce "COPY CATS" in this industry and I have been wondering if it is possible, by law, to prevent people from using same model or going into similar business... I am very certain that people will dive in as soon as they see me doing it. |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by thunderbabs: 12:38pm On Jan 31, 2018 |
Inspiring i must say |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by Checked86: 12:41pm On Jan 31, 2018 |
Tension532:i did. it is that part of the history that only money can write. He is great, i must admit 1 Like |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by mbahdi(m): 12:44pm On Jan 31, 2018 |
wo so ever read dat long epistle to d end must be named endurance |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by philip0906(m): 12:46pm On Jan 31, 2018 |
SmartyPants:It's pathetic. Nigerians are always bitter with rich people. I mean what exactly has Paddy done wrong by sharing his experience? 2 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by JeffreyJamez(m): 12:47pm On Jan 31, 2018 |
Wow!. Learnt a few lessons from his experience. One thing I loved about his story is that he didn't just sit back and be basking in the europhia of family business. He used the family business as a stepping stone to TRY and make something for himself. Many of his peers wouldn't try that. Those of you shouting Daddy's money upandan,what were your fathers doing when his own was making the monry? ... No be hin send una papa message o. 5 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by chronique(m): 12:50pm On Jan 31, 2018 |
americanson: You can't stop people from doing your kind of business but you can find ways to monopolize it from the onset and once you see people running into it,you crash your prices significantly to make it not attractive for most competitors. That way,you get to retain a significant portion of the customers, and make do with very low profits but high turnover. I've got something that ticks that line and that's exactly what I plan to do. Make the initial cost quite high and make a lot of money and once people delve into it,crash your prices so it becomes unattractive to them. |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by okito: 12:50pm On Jan 31, 2018 |
I worked with Paddy in the upstream business. Yea...the OML 30 / 42 experience was something else and he was spot on with that. You've got to give it to Paddy, he is extremely intelligent and always on the ball. He would go far! 4 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by PapaBrowne(m): 12:52pm On Jan 31, 2018 |
mccoy47: The only sensible comment I have seen. Interesting piece. Young man with extreme business acumen. With this kind of mentality he would probably surpass his father. I respect rich kids who try to build for themselves and not just wait on thier parents. And yeah, he actually was fortunate not to have bought the field. Oil prices crashed not long after. 3 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by Ladiva: 12:57pm On Jan 31, 2018 |
This would have to be my best read this January. So many lessons hidden in this story, but only the discerning can grab it. 2 Likes 1 Share |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by EKPETI(m): 12:59pm On Jan 31, 2018 |
Thanks for the story shared and lesson learnt. |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by okito: 1:04pm On Jan 31, 2018 |
That is O & G business for you. The same oil that crashed to $30 per bbl is now hovering around $70. It still would have made business sense to buy it notwithstanding the drop in oil price. Companies survived the price crash and today operations are looking up in the industry. What many did was to renegotiate service rates and cut down on luxurious spending to stay afloat. Buying an O & G asset is not just about the production rate at the time but the prospects in the block in terms of proven reserves. You may choose to drill when oil price is down at low cost and sell when price goes up. 1 Like |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by desgiezd(m): 1:05pm On Jan 31, 2018 |
Whaoo, so much to learn from this. It's always good to be aggressive as a business person, positively aggressive, though 2 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by eTECTIVe(m): 1:05pm On Jan 31, 2018 |
Gungnir: U completely missed my point... Which is everyone makes money moves, whether dey believe in God or not which is why some are ready to sell their soul to |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by Nobody: 1:07pm On Jan 31, 2018 |
HOLYDICK:I doubt if you actually read the whole piece - for if you did, you will understand that he was trying to encourage us to trust our instinct and secondly, the Messiah you seek might be a close friend to the least of your friends. 1. He would have won the contract if he went against the advice of the professionals he hired. 2. He would have found and partnered with the unknown last bidder if he had opened up to Remi (his friend) when then met in London. 4 Likes 1 Share |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by Nobody: 1:12pm On Jan 31, 2018 |
eTECTIVe: I did get your point. Hence why I agreed on your previous post. |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by Throwback: 1:14pm On Jan 31, 2018 |
A very nice tale of ambition. 1 Like |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by wtfcoded: 1:16pm On Jan 31, 2018 |
Nearly kwa. U need an Igbo brain on ur team. |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by Tension532: 1:17pm On Jan 31, 2018 |
Checked86: u be mod |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by LaudateII: 1:25pm On Jan 31, 2018 |
222Martins: You missed the point. Such stories are valuable because they contain a host of tangible lessons that can be learnt, by others. His story can be captioned in one word: "experience," or the lack of it. In Nigeria, we always ignore such stories, even when there are one or more lessons we could pick from it, that would benefit us. Project managers often do something at the end of a project. It is called 'Post-project implementation Close out Review or Post Implementation Review.' You sit back and take stock of what you did wrong, and what you did right. Take note of the bottle-necks, challenges and difficulties that marred the project along the way, and draft strategies on how to prevent such incidents in future. Or you conduct a root cause analysis of the project flaws, with a view to minimising or eliminating such flaws within the said project, now or in the future. Foreign countries that boast of better infrastructure, well-executed trade deals, improved commercial transactions, expertly managed projects and experienced professionals, are able to do so, because in part, they have learnt from their mistakes, in order not to repeat it. And that is what Paddy has done with this piece. It just reminds me of George Santayana's words. 6 Likes 1 Share
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Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by misB: 1:25pm On Jan 31, 2018 |
Very nice write up with a lot of lessons to me learnt. |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by LaudateII: 1:29pm On Jan 31, 2018 |
JideTheBlogger: I swear this part got to me! Can you imagine??! For him to have discovered the reason for his failure, staring him in the face - it was his sense of caution that cost him the deal, his failure to trust Remi with information at that time, because he didn't want his deal, to be jinxed by giving out info to a fellow Nigerian! Kai! I would have shed tears, if I was in his shoes! MrMcJay: You are so-oo-oo right!! And that is why we keep repeating the same mistakes over and over again as Nigerians, both in our public and private lives. We learn nothing, from our failures and our past experiences. Why?? 3 Likes 1 Share |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by LaudateII: 1:34pm On Jan 31, 2018 |
LUCKIE2014: Very true! There are still more lessons in his piece. I counted about 12, but I will share just 7 that struck me, shortly. 1 Like |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by Babysho(m): 1:34pm On Jan 31, 2018 |
222Martins: You this Nigerian man sitting idle in your two bedroom apartment, have you no shame? Paddy is 29 years old and he put himself out there so well that top businessmen praised his efforts. Who are you to cast him? He tried to use wealth to create more wealth. The little wealth your father left for you have you ever TRIED to use it in creating more wealth? He has done well. He has gained knowledge, made a good network and his name is definitely in their head now. You can't hear Paddy in business and not think twice about it. You should learn one or two from the write up because he passed very valuable messages. 6 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by oxon(m): 1:35pm On Jan 31, 2018 |
mccoy47:he probably would have still reached for a joint venture giving the oil production to a more suitable company leaving just management to Catalan ..remember he only needs the afro European portfolio 2 Likes |
Re: Paddy Adenuga: "I Nearly Acquired Chevron Netherlands At 29" by BmanWheart: 1:35pm On Jan 31, 2018 |
americanson: Can I send you a mail? Will like us to discuss and share business ideas. Thanks 1 Like 1 Share |
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