saajus:
Keep swallowing their lies. Many Naija in oil industries use proxies. Most of these Naija rich guys are even richer but a lot of them use proxies because they can't fully explain their wealth. He might pay some dues but 90% of his wealth is OUR MONEY. To be honest, if you are closer to these guys, u will know their secrets. I've been privileged few times. If many Nigerians truly know what is going on behind the scene, they will be stoning the likes Dangote, Otedola, Adenuga, Rabiu, Alakija, Dantata instead of praising them. These guys have caused more damage to our society. Most of them killed functioning Naija system so that they can thrive. When we have less of these guys in the 60's, 70's and 80's, many Government sectors are working.

how do you know whether by any chance, I would be privy to some "insider info" ?

Dangote had no ties to oil in the first thirty years of his operations, and NO, it's not "our money" that enriched Dangote


If you spoke about the sharp practice he did while I he is sway at the NSE, (I feel bad in a way because my family benefited from it) then I would have said you know what's up

or you spoke about how he uses "Pioneer status" not to pay as much taxes as he should, then I for say you know what's up

But talking about oil?

Forget it

Aderewah:


Get it. It's not throwing shade it's talking facts. A person with 2 billion naira isn't a billionaire. The American dollar is used for international money standard. Or else, every body in Zimbabwe is a billionaire

Bro.... just listen to yourself.
Do you know that both pounds and Euros are higher than the US dollar...
But like it or not a person with 999 million pounds is not officially a billionaire in England which is his home country... But he is one, if only in the US or a country with lower currency value.
Same way a Nigerian billionaire is not a billionaire in The US...

So now tell me Mr Adeleke is not a billionaire in Nigeria.

thebosstrevor:


Nigerian expert

this is the most ignorant statement i have ever read on NL. have you ever heard about capital tax or wealth tax, this is the reason why those wealthy guys move their assets to tax heavens.

so billionaires open their books willingly for forbes, it seems you dont know what you are writing.

what Forbes is doing is using publicly available data to estimate their wealth. all those billionaire lists are gossips to feed your ears.

You are the ignorant one.

A capital gains tax is not a wealth tax but a wealth on capital gains which is deferred until the capital gains are actually realized.

Billionaires like Donald Trump, Kirk kerkorian, Steve Wynn to name just a few have been known to provide information directly to Forbes but of course you are the wisest man on Nairaland and know better.

Drsavage:


Bro.... just listen to yourself.
Do you know that both pounds and Euros are higher than the US dollar...
But like it or not a person with 999 million pounds is not officially a billionaire in England which is his home country... But he is one, if only in the US or a country with lower currency value.
Same way a Nigerian billionaire is not a billionaire in The US...

So now tell me Mr Adeleke is not a billionaire in Nigeria.

Just Google who is a billionaire and come back

Aderewah:


Just Google who is a billionaire and come back

That's from Wikipedia...

As you can see they specified Forbes list with "US dollar billionaires"... Or do you need glasses to see that?

Hope this will finally shut you up, and try to learn next time.

Did you parents own a sawmill in the 50s and 60s? if you know what it takes to own one then and the value chain around it then you will agree
they were wealthy folks.Also for the mother to be Iyalode of Ijebus the richest of all yoruba tribes then you know she was of a great means.Mike Adenuga is also a first cousin of the present Awujale which means he has a noble background.I do not doubt your own affluence as you stated here,that is left for reality check but because you made a statement based on assumption,I had to check it and put it in proper perspective.So dont catch feelings bro.
FYI poverty is far from me in response to another faulty assumption.

Yankee101:


I don't know if you know the meaning of 'rich. It's different from comfortable.

I live in the US. I schooled in the US. I own businesses. Compared to 1billion dollars I definitely won't say I'm rich.
But by your sawmill and school abroad standards
I'm more than rich. If you want to talk about born rich, talk of Dangote. Do your calculations before you call people ignorant.

Maybe what is covering your eyes is 'pooverty' as Oyedepo pronounces extreme lack.

GEEBITE:
Did you parents own a sawmill in the 50s and 60s? if you know what it takes to own one then and the value chain around it then you will agree
they were wealthy folks.Also for the mother to be Iyalode of Ijebus the richest of all yoruba tribes then you know she was of a great means.Mike Adenuga is also a first cousin of the present Awujale which means he has a noble background.I do not doubt your own affluence as you stated here,that is left for reality check but because you made a statement based on assumption,I had to check it and put it in proper perspective.So dont catch feelings bro.
FYI poverty is far from me in response to another faulty assumption.

Argue with wikipedia and your keyboard

https://en.m.wikipedia.org/wiki/Mike_Adenuga

His father, the Oloye Michael Agbolade Adenuga Sr, was a school teacher while his mother, Omoba Juliana Oyindamola Adenuga (née Onashile, of Okesopin, Ijebu Igbo), was a businesswoman of royal Ijebu descent.

Adenuga received his secondary school education at Ibadan Grammar School, Ibadan, and Comprehensive High School, Aiyetoro, for his Higher School Certificate (HSC). He worked as a taxi driver to help fund his university education.[3]

Go and read the oxford dictionary for the meaning of born rich

Royalty in the 50s and 60s was not full of corruption and land grabbing like today. You've never heard that former governors like Lateef Jakande (who used to push his car to start) and people like Ahmadu bello were not rich? I don't know how old you are or what you know about history.

The whole of Africa has no second generation billionaires except maybe the Dantatas who are Dangote's matriarchal line.

For perspective, we are talking in comparison to him being one of the richest people in the world today and you're saying he was born rich. So you have to know what the world standard of born rich is, not because someone was born to nnpc workers and you think that is rich by world standards. Oil and gas salaries here are just average but far more than those in naija which people think is alot.

The median household salary in the U.S. is $59k or NGN21M. By world standards that's nowhere near rich if you're born into this. So maybe your definition of riches is naija. He is world richest member now, ask yourself again, was he born rich by comparison.

saajus:
Who should be responsible for his drivers' training? His drivers lack of training killed more than Naija roads. They are so reckless. In a sane country, law suits would have finished him. He's not doing all his businesses on level playing field with others.

I didn't want to continue talking. You raised so many issues. I wanted to tell you that Dangote's drivers receive far more training than the average Nigeria's driver. They receive formal training in driving etiquette and skills in and outside of the classroom and had to pass fitness test before they are given trucks. In contrast, Nigerians plying the roads do have receive any formal training or test before driving.

Still accidents would still happen. Even in western world with all the roads signs and markings, light, wide lane and smooth roads, accidents are daily occurrence on their roads. That is not to say there is no room for improvement. I just want you to be careful in berating issues. Again, Law suits hardly finish rich guys home and away. They have all the veteran lawyers to protect them. The Government sees the value they create. Overall, the rich are protected people

Dangote has stopped low in investments, wait and see when his refinery comes upstream...you stoop low to conquer.

einsteine:



You are the ignorant one.

A capital gains tax is not a wealth tax but a wealth on capital gains which is deferred until the capital gains are actually realized.

Billionaires like Donald Trump, Kirk kerkorian, Steve Wynn to name just a few have been known to provide information directly to Forbes but of course you are the wisest man on Nairaland and know better.

there is a difference between wealth tax(capital tax ) and capital gain tax

A wealth tax is a levy on the total value of personal assets.