Coronabirus:
Go and check record, his family is rich before the discovery of oil.
All those in the North u accuse of becoming rich from oil rig were very rich before oil is discovered in Nigeria.
If it is oil that makes people rich then what is the index of thesw aouthern billionairea on Forbes list, Folorunso Alakija, Prince Arthur Eze, Tonye Cole, Tunde Folawiyo, Ifeanyi Ubah, ABC Orjiakor, and Phillip Ihenacho?
Only Mike Adenuga make Forbes world billionaires list among them and it's because of his diversification to communication.
Just learn than oil alone can't make u as rich as Dangote and BUA!

Omo. Allow those guys...


Farming, trade, gold buying and selling has made notherners rich..


But most of them won't believe

tellwisdom:



How did they get their money?

ISYAKU RABIU, FATHER OF ABDUSSAMAD BUA
Isyaku Rabiu, the father of Abudssamad BUA was a Nigerian businessman and Islamic scholar who founded a major holding company in Kano State.
In the early 1950s while still an Islamic scholar, Rabiu began to engage in private enterprise and established Isyaku Rabiu & Sons in 1952. Originally the firm acted as an agent of UAC and was trading in sewing machines, religious books and bicycles. In 1958, the firm had a breakthrough when Kaduna Textile Limited was established and it became one of the early distributors.
Rabiu emerged as the leading distributor of the company in Northern Nigeria. In 1963, he joined a consortium of businessmen from Kano who came together to form the Kano Merchants Trading Company. The establishments continued to survive withstanding competition from foreign products. In 1970, he established a suit and packing factory.
Isyaku Rabiu & Sons, founded by Rabiu (father of BUA), is a family operated holding company with a history of investment in manufacturing, insurance, banking and real estate. In the 1970s, the group invested in manufacturing with its first investment being the Kano Suit and Packing Cases company, a factory producing suit cases and handbags. The firm was a joint venture with Lebanese investors.
In 1972, he formed the Bagauda Textile Mill, manufacturing woven cloths for uniforms.
Rabiu then established a series of ventures in different segments of the economy including frozen food service, real estate, sugar and a motor vehicle and parts distribution company specialized in Daihatsu products. However, unfavorable exchange rates and economic conditions forced the company to scale back on manufacturing and returning to its trading roots.

tellwisdom:


How did they get their money?

Who wakes up and suddenly becomes rich?? Any history of how they started??

DANGOTE'S GRANDFATHER
Alhassan Dantata is Dangote's grandfather, he had his early Qur'anic education (Almajiri) at Bebeji. He was a Northern Nigerian trader in kola nuts and ground nuts, and he was a distributor of European goods. He supplied large British trading companies with raw materials and also had business interests in the Gold Coast. At the time of his death he was the wealthiest man in West Africa.
Dantata started to be a long-distance trader himself. He remained in Bebeji until matters had settled down. He used the new trade routes to Ibadan and Lagos to develop his network of trading associates. Instead of bringing kola nuts on pack animals, he used steamships to transport them between Accra, Kumasi, Sekondi and Lagos. He was the first to develop this route. This innovation and contact with Europeans helped establish his wealth and future.
In 1906, he began broadening his interests by trading in beads, necklaces, European cloth, and trade goods. His mother, who had never remarried, died in Accra around 1908. After her death he focused his attention on new opportunities in Lagos and Kano.
Dantata maintained a house in Bebeji and had no property in the larger trading town of Kano. He did not own a house there, but was satisfied with the accommodation given to him by his patoma (landlord). When the British disposed the successor of Yusufu in 1903, they appointed Abbas as the Emir of Kano. As part of a recompilation, Abbas returned the confiscated lands around Kano to the Agalawa families. Dantata built his first house in the then empty Sarari area (an extension of Koki) in Kano.
He married Umma Zaria, and as was the tradition she conducted business for him with women of Kano.
By all accounts, Dantata was hard working, frugal and unpretentious in his personal habits. He was also a good financial manager. He had the good sense to employ Alhaji Babba Na Alhassan who served as his chief accountant and Alhaji Garba Maisikeli as his financial controller for 38 years. Dantata did not manage from behind a desk but involved himself with his workers.
European trading companies Edit
In 1912, when the Europeans started to show an interest in the export of groundnut, they contacted the already established Kano merchants through Emir Abbas and their chief agent, Adamu Jakada. Some established merchants of Kano like Umaru Sharubutu, Maikano Agogo accepted their offer.
Dantata was already familiar with the manner by which traders could make fortunes by buying cocoa for Europeans in the Gold Coast. He had several advantages over other Kano business men: language, wealth and age. He could speak some English and already had direct dealings with Europeans in Lagos and Accra. He had substantial amounts of capital. Unlike other established Kano merchants, he was in his mid-thirties, with a small family and retinue to support. Despite the famine in Kano in 1914, he quickly dominated the groundnut purchasing business via promotions, loans and contacts.
In 1918, the UK-based Royal Niger Company (later became the United Africa Company) searched for an agent to purchase groundnuts for them, and Dantata responded to their offer. It is said[by whom?] that he used to purchase about half of all the nuts purchased by the United Africa Company in northern Nigeria.
By 1922 Dantata had become the richest businessman in Kano, surpassing other merchant traders. In 1929, when the Bank of British West Africa opened a branch in Kano, Dantata placed 20 camel-loads of silver coins in it. (For religious reasons, his money collected no interest). Shortly before his death, he pointed to sixty "groundnut pyramids" in Kano and said, "These are all mine".
Dantata applied for a licence to purchase and export groundnuts in 1940, on the same level as the United Africa Company. However, it was not granted because of worldwide military and economic conditions. In 1953–54 he became a licensed buying agent, which allowed him to sell directly to the Nigerian Groundnut Marketing board instead of another firm.
He had many business connections both in Nigeria and in other West African countries, particularly the Gold Coast. He dealt not only in groundnuts and kola but also in other merchandise. He traded in cattle, cloth, beads, precious stones, grains, rope and other things.
https://en.m.wikipedia.org/wiki/Alhassan_Dantata

Farming, manufacturing, trading are the best business suitable for Nigerian business atmosphere. Oil is overrated, it makes most tycoons lazier and started losing relevance compared to true business men!

Happy Birthday

The road in front of BUA cement plant around Ukpilla is one of the worst,spoilt by BUA trailers.
Yet Rabiu cannot repair it and these are people they call philanthropists.

I also join the president in celebrating this great man. Happy birthday Sir! Wishing you many more years.