Nashville:

Why take all that risk in starting a business when you can go to Abuja and collect =N=5 billion for a contract you wouldn't execute.

So true. or sleep with Diezani for oil block.

It is 100 percent impossible!!! There are really no enterpreneurs and private sector in Nigeria. What we have are opportuinists who open business with stolen govt funds, run the business on govt favors and claim best enterpreneurs on earth. Its not possible in a country where everybody depends on govt money and appointments to be rich.

slam7000:

@mkmyers45,

Yes i know them but i dont need them to fund or support me in any way.problem with most people is we tend to depend on others for handouts, think,think,plan and invest.i had a room mate from bauchi.he,ll encourage me to invest in livestock some yrs back.i was scared but gave it a shot and didnt regret it.i borrowed money from cousins,he,ll travel up north buy 3 cattles which his muslim bros helped him to sell at enugu.we made lots of money from that.it continued for a long time,i wldnt,ve done it on my own though cos the biz wz been controlled by hausas.i l8r used my proceeds to buy lands,sold them back.i dont need my billionaire friend.i,ll get there.n

I like your idea but a little help can put you on the highway,

The road to great wealth is fraught with many hurdles/ - those who choose honesty nearly all the time never get over the barrier of breaking even in business in their life time. Think of any business in existence, search its foundational soul, rip it and what you'll find will oustand you. From Coke, to Apple, to Shell, to GM to Dansa group of companies the trend is similar- people climbing on the sweat and back of others to amass this great wealth. It is an offer given to a selected few, people who have the ''SMART'' tag before their name, but under whose care the great many employees toil in want and care for many many years till they die.
What I normally ask about billionaires: How and what is the welfare of their staff like at the foundation stage? One thing is for sure, if one is ready to scheme people( what some tag ''SMART'' ) and offer ridiculously low wage pay and no welfare in producing a product they are more than halfway to that club. It is the reason for job outsourcing, contract staffing (Nigerian style) - low pay for similar output.

It is 100 percent impossible!!! There are really no enterpreneurs and private sector in Nigeria. What we have are opportuinists who open business with stolen govt funds, run the business on govt favors and claim best enterpreneurs on earth. Its not possible in a country where everybody depends on govt money and appointments to be rich.

You all dont need to be dangotes,otedolas or warren buffets.people say all sorts of unsavoury things abt them but forget to give those guys credits for being smart,shrewd and ingenious.everbody wants to drive bentleys but no one wants to start with bicycles.money didnt fall from the skies for those guys.they started investing a very long time ago.N500,000 can change your life if you respect money and apply it wisely.if you are earning N70000 a month but live above your means,that isnt clever.a friend who recently lost his job is just realising that.there is possibilities in nigeria but you have to find that out yourself.

You all dont need to be dangotes,otedolas or warren buffets.people say all sorts of unsavoury things abt them but forget to give those guys credits for being smart,shrewd and ingenious.everbody wants to drive bentleys but no one wants to start with bicycles.money didnt fall from the skies for those guys.they started investing a very long time ago.N500,000 can change your life if you respect money and apply it wisely.if you are earning N70000 a month but live above your means,that isnt clever.a friend who recently lost his job is just realising that.there is possibilities in nigeria but you have to find that out yourself.

An average Nigerian would find it impossible to amass such wealth without political connection or corruption, it's the way the system works, even entrepreneurs look for deals and connection through public officials or someone they know, Nigeria is corruption. With that said, before I left 9ja I was worth 7 million Naira, which was gained through investing in GTB stocks, after some years over here, I've made some good decisions along with some excellent business partners, and I'm currently worth about 180,000 dollars in physical cash, another 40 million Naira in real estate(2 houses in 9ja), all these without doing politics or swindling anybody. The fact remains that you can be anything you want to be if you're determined enough, you just need divine favor and a really good business network, I might not make it to the billion mark, but I intend on getting as close as possible.

(P.S. - If you're making money in 9ja right now, the best thing you can do for yourself is to expand your network, make some international business investments, that way you can have as much liquidity as possible!)

NO!!

Reason . . . . .

For every business you do in Nigeria, you have a government agency that either regulates or oversees your business. . .

NOW. . .  You can decide not to participate in the corruption and go about your business legally, but the truth is that things would get done slowly for you and we all know in business, time is money. So you can be successful in business without being involved in corruption but it would take you a long time to get there. But when you grease a few palms, buy a few people, establish your connection in a few high places, your business moves faster. .

E.G, Pure water, you have NAFDAC in your pocket, your permits get processed faster than those who use the front door.

       Shipping - You have NIMASA, customs and others in your pocket, your container gets processed faster.

        NNPC - Same thing for your permits

       Inland Revenue - Same thing

e.t.c

It is very possible. A billion Naira is just a little over $6 Million for goodness sake. There are many Nigerians making billions the honest way.

or you can be a Musician like d'BANJ or wizkey,

LOL,

No wonder so many of you remain poor.

These are the kind of people who travel abroad and begin to say they cant make it in a white man;s country because they are black.

And this is why so many of you see people progressing and put so much hatred in your mind and call them names, even accusing them to be government apologists. Make una stay there, limiting yourselves while others make it big in the same place you all rant impossible.

Whats the meaning of impossible? Not in my dictionary.

^
maybe you need a reality dictionary.

if you painstakingly search all of nigeria's business models,all of them are tied to government policies and institutions.
You hear of people building hotels and mega structures,meanwhile its all money laundering.Some of the richest people in Nigeria today are people who got access to money laundering funds and started funding their businesses.

Yes, one can. In a currupt society, there will still be some faithful ones, or does it mean that all billionaires in this country are corrupt, the answer in no. The countr is corrupt does not mean every person it it is corrupt. Where there is good, there is also evil

I would shock the world.

You can not be a billionaire working for another person, neither can you be a billionaire through self employment. The secret of billionaires is to get other people or their money working for them. You cannot be a billionaire through your own effort, you must leverage the effort of others. Check some of the richest people in the world, they are employing thousands of people.

The secret of of being a billionaire is create a process, perfect the process, invite other people and get them to work for you using the process you have created, lead them by example and win their respect and loyalty, reward then, and iterate. By the way having N1 billion does not make a billionaire, it is $1 billion (N160 billion).

obowunmi:

So true. or sleep with Diezani for oil block.

I've been on that matter for a long time. . .one day na one day.

yea through rituals

yes by being a priest

yes of course, open up a church!

Self hating is a disease.

In this country?, 4gerrit!, it can only hapn if u r d so called pastors

yes its possible

OH GOD HELP US_{, sighs}

watch out for me!!!

its possible but not easy brothers.

all the people makingg billions in nigeria has very strong pollitical links.

Dangota too much favour from goverment closing other peoples biz for him. in 2006, govt waved import duty worth 50 billion for dangota. infact he has made more billions from politics than biz.

otedala, son of a former governor started with huge government contracts, bought AP through obj orders. etc,

Mike Adenuga , ibb's boy etc,

Yes, it is very very possible! It will only be a lot harder than if you 'play ball' with the corrupt officials and agencies in the public and private sectors!

Some camels have passed through needles' eyes! Nothing is impossible with God!

newp once the corrupt fing government sees that ure making money they'll try to but different types of ban and sh.it and you are makiking it from outside the country useless tariffs that make no sense but you never know what can happen

The naivety of some of the posters here amazes me. Hard work is good but in this our country you cannot get that kind of money without touching corruption in some way, no matter how small, such, unfortunately is the way our society has evolved. Remember corruption takes different forms, settling the tax man is a form of corruption, so is settling lastma on ur way to a business deal, settling the police for whatever, the list goes on and on. For those of you who seem to think that it is possible, please tell me who you know that has done it, our megamillionaire pastors? lol!

The hardest working rich men are probably the igbo traders yet they understand that settlement is a way to get things done, either at the port, airport or even in the market itself,

Even the white collar self employed, how many declare their real income? Higher rate tax is over 40%, would you give 40% of your earnings to this government??

Well as this thread progresses let us see who can fit the bill, of not having touched corruption in some form with that kind of wealth. Remember we are talking billionaire and not merely your 150m guy who can travel first class. We are talking liquidity!!!

1. Find the cure for HIV.
2. Patent it.
3. Sell it.

You'l be a Trillionaire

You still have to go through Nafdac, Standards Organisation of Nigeria and probably others. If u don't play ball they can frustrate your efforts. Of course you could take your patent outside the country but that defeats the essence of this argument. Right?