Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,804 members, 7,956,058 topics. Date: Sunday, 22 September 2024 at 10:56 PM |
Nairaland Forum / Nairaland / General / Business / The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires (94097 Views)
Panama Papers: Dangote And Sayyu Dantata Linked To Shell Companies In Tax Havens / 3 Youngest Nigerian Billionaires Today.No.1 Is Lagos Island Biggest Boy(pics) / Throwback Pic Of Dangote Alongside His Grand Dad Alh Sunusi Dantata (2) (3) (4)
(1) (2) (3) (4) (Reply) (Go Down)
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by naptu2: 9:29am On Mar 17, 2012 |
Allegations, rumours and stories. Like most wealthy and famous people, allegations, rumours and legends have made the rounds about members of the Dantata/Dangote dynasty. It is alleged that Alhassan Dantata sold his goods below market prices in order to undercut his competitors. It is also alleged that Dr Aminu Dantata has a money printing machine in his bedroom and that this is the source of his wealth. It is further alleged that Alhaji Aliko Dangote hires pirates and saboteurs who raid his competitors ships and empty their cargo of sugar into the ocean, or pour water into their bags of cement. He allegedly uses his connection with politicians to ensure that he maintains a monopoly over the sectors of the economy that he has interests. |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by Callotti: 9:59am On Mar 17, 2012 |
Not allegations. ALL FACTS. A narrower profit margin becomes a major advantage for ANY monopoly. All about economics. Rewind to six years ago. https://www.nairaland.com/112/alhaji-aliko-dangote-what-do |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by OneNaira6: 10:09am On Mar 17, 2012 |
How to create a dynasty of Billionaires in Nigeria like Dangote and Dangata? Get Nigerian military to help you, steal the people blind and use it to make yourself a billionaires while lying you did it yourself. Shikena, that is the secret of making it big in Nigeria. |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by Dede1(m): 12:32pm On Mar 17, 2012 |
Callotti: You are very funny indeed. Sniffing for what if I may ask? It looks you are arrogating over-winded importance to you dilapidated body. You should have imagined my type of woman by now. If you are an employment that pays a million dollar an hour, I should definitely not be an applicant. I am an impeccable world-class with a taste for excellence. From afar though, you seemed awkward and out of shape to tickle my fancy. |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by Maisuya1: 12:59pm On Mar 17, 2012 |
Why is it that some people like denying innovation, creativity and entrepreneurship at it's best. (in fact I might be using some of this deatails in my academic write up of whether entrepreneurs are made or born). This family and many others like them in the north have been in trade and business long before even the first colonialist set foot on this continent. And yet some are linking their wealth to military (how do u guys answer exam questions) Infact since the military left the business has been waxing stronger not only number one in Nigeria but in Africa. Some one asked in the previous page do the hausas have more business mind than the Igbos (was that a joke). The hausa are merchant while the Igbos are traders. The hausas have been merchants for almost a millennium now (read about the trans Saharan trade routes and the prominences of cities like Kano, katsina and Timbuktu in this trans Saharan trade routes before the Europeans came to disrupt those routes) 3 Likes 1 Share |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by naptu2: 3:57pm On Mar 17, 2012 |
@ Mai Suya: in that case, once I get home I will post info that I omitted from this write-up. I had gathered about merchants that had plied the trade routes even before the Dantatas. |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by naptu2: 4:35pm On Mar 17, 2012 |
I even have a quote from Lord Lugard, who was talking about why he hated the Hausa merchant (it was difficult to tax them because they moved around so much. They only means he could think of to tax them was to erect toll gates). 1 Like 1 Share |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by stepo707: 7:36pm On Mar 17, 2012 |
naptu2: I even have a quote from Lord Lugard, who was talking about why he hated the Hausa merchant (it was difficult to tax them because they moved around so much. They only means he could think of to tax them was to erect toll gates).LOL |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by Callotti: 10:22pm On Mar 17, 2012 |
Dede1: Ha! Even if I be ya NL 419 Mrs. The Seeker wey im bakassi only get size for Obioma shop! LOL The one and only "Plat", the NL Baby H-elephantisis of the 'BOO-BTUCKS'! LOL. Sorry, I am not a moderator or super moderator. I don't live in Italy. I don't patronize male hoes, YOURSELF included! Ciao! Duty calls. Hope you enjoyed spring break with your kids like I did in Nigeria? Eze Ndi Efulufe1 Of NL! |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by Callotti: 10:28pm On Mar 17, 2012 |
Mai-suya: Please, I am that someone. No need to reply the wind. Slave trade is no longer in vogue as an easy way to make a fortune like in the Sundiata and Mansa Musa days of the ancient! Any 'wealth' in Nigeria is questionable. More like LAUNDERED! No exceptions. |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by naptu2: 2:02am On Mar 21, 2012 |
Alhassan and some of the other wealthy men I will write about made their money from the sale and transport of commodities like cocoa, kola nut, groundnut, etc. Unfortunately, Nigeria's overdependence on revenue from crude oil sales has diminished interest in this trade. Alhassan's role in the purchase of kola nuts from forest areas of Nigeria for sale in the North was so great, that eventually whole “kola trains” from the Western Region were filled with his nuts alone. Chief Obafemi Awolowo encouraged Coca Cola to set up shop in Ibadan (Kola was one of the main ingredients in Coca Cola at the time and is still used in some cola drinks). Unfortunately the plant was closed down in 2009 because of the unfriendly manufacturing environment in the country ( https://www.nairaland.com/326697/coca-cola-closes-last-concentrate-factory ). Cocoa is grown in the south west, but we have not seen any plan by the governments of the region to boost production/improve the quality of cocoa produced. In the north, Sir Ahmadu Bello created grazing areas where cattle rearers could feed their cattle. It was expected that subsequent governments would improve on this by providing irrigation, veterinary services, meat and milk processing factories, etc, but alas, the grazing areas have been abandoned. Alhassan also made money from the sale of precious stones, but this sector has largely been abandoned because state governments are dependent on crude oil windfall from Abuja. In the south-south, farmlands that could have been used to cultivate palm trees and rivers and creeks that should have yielded fish have been polluted with crude oil. I believe that in order to reverse this situation we need to implement the following measure. If any resource (crude oil, solid minerals, fertile land, business opportunity, etc) is found on a piece of land, the resource and the revenue that accrues from it should belong to the individual who owns the land. He should then pay tax to the local government, which would also pay tax to the state government and the state government would in turn remit tax to the federal government. The tax revenue will be shared in this formula; 25% to the local government, 30% to the state government, 20% to the Federal Government and the remaining 25% should be used for emergency purposes (flood, drought, etc). The federal government should relinquish some of its powers and responsibilities, which would subsequently be borne by state governments, local governments or the private sector. Such responsibilities include electricity generation and supply and road construction and maintenance. |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by naptu2: 7:18am On Mar 21, 2012 |
The Hausa, Fulani and Kanuri merchants The states around the sahel region of west Africa have for long been involved in international trade and international relations. Indeed, before the advent of the white man to west Africa, the area presently known as northern Nigeria had greater access to European and Asian markets than the area presently known as southern Nigeria. This was because the Sahara desert served the purpose that the Atlantic Ocean would later play; that is the role of an international trade route. At that time, people in southern Nigeria did not know how to sail across the oceans, could not build ships that could sail across the oceans, neither did they possess such ships. The northerners on the other hand, knew how to travel long distances across the Sahara, using camel caravans. With these they were able to trade with states in North Africa, Europe, Asia and with other states in the West African Sahel region. For example, Mai Dibbalemi (c1400) of the Kanem-Bornu Empire built a hostel (known as riwag or madrasa) in Cairo where pilgrims and students from Kanem could reside. He also established an embassy in Tunisia. He fought the Fezzan, for example, to secure the trade route to Cairo. Borno was important in the trans-Saharan caravan trade. Slaves were imported from the south and North African traders visited Borno. The fame of Borno stretched far and wide and was even mentioned by a Portuguese cartographer in the fifteenth century. Mai Mohammed also sent an embassy to Tripoli in 1512. Likewise Mai Idris Alooma sent an embassy to Tripoli and received musketeers for his army. Lugard and Hausa traders In the field of trade, there were three possible agents of modernisation whose activities, if wisely fostered, would have speeded up the introduction of the cash economy, of currency and of cash crops and the end of the old economy of barter, slave-raiding and slavery. These were: the trader from the coastal areas, the European trader and the Hausa trader (This excludes the Arab trader plying between Tripoli and Kano, the Levantine trader on the west coast and the flourishing trade between the northern part of the Gold Coast and Northern Nigeria; these trading systems were less susceptible to administrative controls). Lugard’s antipathy to traders from the outside, whether white or black, might considerably have been redeemed by active encouragement of the Hausa trader. But here again the old Adam of his “instinct” seems to have got the better of him and his chief concern was to see that they and their “caravans” did not go untaxed. In the areas where there was sufficient security of life and property to permit the trader to take the risk of travelling alone and not in convoy, he could avoid the caravan toll-stations by striking off the road. This made the Hausa trader a criminal and legitimate quarry. According to Lugard’s way of thinking, every Hausa trader was one toiler less in the fields; he deplored the Hausas’ “keen trading instinct” which brought about “an undue tendency to desert the paths of productive industry and to go to and fro through the country carrying goods on their heads for the pleasure of making a profit by barter. The problem is, how can this class be taxed except by tolls” 2 Likes 2 Shares |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by naptu2: 9:16am On Mar 21, 2012 |
A short story. In the 1980s, we had what I call the "donation circuit". Organisations (usually universities, town unions, foundations, etc) would invite the richest men in the country (including Chief MKO Abiola, Alhaji Aminu Dantata, Chief Sunny Odogwu, etc) to "launcheons" at which huge sums of money are donated. Chief Abiola and Alhaji Dantata were always invited for these events, although Dantata rarely attended. However, there was one such occassion that Aminu Dantata attended. The invited guests made their donationas and Alhaji Dantata was the last to make his donation. The hall went crazy when Dantata's donation was announced because it was the largest. Chief Abiola asked to be given the microphone and promised that he would send more money. The next day the newspapers were awash with stories of a rivalry between Dantata and Abiola. This is similar to the claims and counter claims about who was richer between Alhassan Dantata and Louis Ojukwu (read this https://www.nairaland.com/609390/sir-louis-odumegwu-ojukwu-not ). |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by naptu2: 7:35pm On Mar 21, 2012 |
Sir Louis Phillipe Odumegwu Ojukwu, KBE, (1909-1966) Sir Louis Odumegwu Ojukwu was an extremely successful Nigerian businessman and politician from the Ojukwu family of Nwakanwa Quarters Obiuno Umudim Nnewi south east of Onitsha in modern Anambra State. One of the most illustrious citizens of Nigeria, he had remarkable success as a businessman and also rendered distinguished public service in several fields. He was also associated with several philanthropic and cultural organisations to which he made generous material and tacit contributions. He was born in 1909 in Nnewi and attended a primary school in Asaba and the Hope Waddell Institute. After formal schooling he joined the Produce Inspection Service as produce examiner in 1928 and later worked as a clerk with the large West African trading company of John Holt. It was here that the self made man who later became one of Nigeria’s foremost business tycoons and a multi-millionaire developed his business interest. He incorporated a textile company in Onitsha to supplement his income during this period, already exhibiting a little bit of his entrepreneurial spirit. While at John Holt, he noticed the severe strain a lack of adequate transportation had on Eastern textile traders He resigned from John Holt in 1934 to start a transport business with one second-hand truck that later grew into a vast transport enterprise. As a transporter he was a tireless worker and meticulous to detail; he was usually the first to inspect his transport vehicles for oil and leakages. His transport company (Ojukwu"s Transport Company) was the first major transport company to move the easterners to Lagos from the Asaba end of the Niger river after they might have crossed over from Onitsha on a boat. He entered politics in 1951 as a member of Dr Nnamdi Azikiwe’s National Council of Nigerian Citizens (NCNC) which included him in the delegation to the London Constitutional Conference in 1951. Four years later Odumegwu Ojukwu was elected to the Federal House of Representatives in Lagos, but resigned in 1956 to become chairman of the Eastern Region Development Corporation. Apart from his work ethic, his success was also oiled by the economic boom after World War II, working with the West African Railway Company and the newly inaugurated produce boards, he provided his fleet for commodity transportation and for other traders use. During the 1950s, he diversified his interest, bought some industries and invested heavily in the real estate sector. His success, drive and ability led him to a host of other business appointments as chairman of the Eastern Nigerian Marketing Board, chairman of the Nigerian Shipping Line, chairman of the Nigerian Cement Company, first and founding President of The Nigerian Stock Exchange and director of a number of business concerns including Shell-BP. He was also a member of the board of Nigerian Coal Corporation. His last public engagement was as chairman of the Eastern Nigeria Marketing Board. He resigned from this position and also from office as chairman of the African Continental Bank, in May 1966 as a result of ill health. His own company, founded on the Ojukwu Transport Company in 1934, had at the time of his death in 1966 spread its activities into construction and other areas, growing into a multi-million-naira group and employing thousands of workers. In 1953, he was awarded the Queen Elizabeth II Coronation Medal; he was knighted in 1960. In 1963 the University of Nigeria, Nsukka, conferred upon him the honorary degree of Doctor of Law, becoming the first to be so honoured by that university. He died on September 13th 1966 at Nkalagu in his home state, at the age of 57. Ojukwu’s death came a few months after the first Nigerian civilian government was ended by a military coup d’etat which saw his son, Lieutenant-Colonel Chukwuemeka Odumegwu Ojukwu, ascend to office as Military Governor of Eastern Nigeria. Lieutenant-Colonel Ojukwu later declared the region, which he renamed Biafra, independent of the Federation of Nigeria, but secession was ended after a three-year bitter civil war in 1970. 1 Share
|
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by naptu2: 8:48pm On Mar 21, 2012 |
Henry Oloyede Fajemirokun (1926-78 ) Henry Oloyede Fajemirokun was a prominent Nigerian businessman and one of the country's dynamic indigenous entrepreneurs who promoted West Africa's economic integration. He was born in Ile-Oluji in Ondo State, Nigeria on July 14 1926. Between 1932 and 1936 he attended St Peter’s School in his birthplace and later St Luke’s School in Oke-Igbo, from 1937 to 1940. He had his secondary education at C.M.S Grammar School, Lagos and Ondo Boys’ High School. In April 1944, Fajemirokun enlisted in the old Royal West African Frontier Force and in 1945 served with the 2nd Echelon at Jhansi GHQ in India. After army service in 1946, he pursued an accountancy career, joining the post and telecommunications division of the colonial civil service. He was elected president of the Post and Telecommunications Ex-servicemen’s Union in 1948 and later became president-general of the Nigerian Civil Service Union until 1956, when he left to start a business career, which at the time of his death in March 1978 spanned a whole spectrum of ventures from insurance and engineering to shipping, centred around Henry Stephens and Sons. He started business in the 1950s by exporting hides and skin, rubber, coffee and shea nuts. In the 1960s he started a massive importation of cement from Egypt and Poland. He received funding for this particular venture from a credit facility that had been provided to him by a British bank in London. He also ventured into commodity brokerage and in 1969 he bought and held a seat on the London Stock Exchange. Later in the decade, as the chairman and largest shareholder of the Henry Stephens group of companies, he became a major shareholder in some leading companies in Nigeria. Following a decision to withdraw the wealth of the country from foreign nationals that was taken in 1972, an “indigenisation” decree was promulgated by the Federal Government. Henry Stephens capitalized on the euphoria of the contemporary nationalism of the period and acquired or represented major foreign operations in the country. It became the sole distributor for Xerox after the Daily Times, a company Fajemirokun had failed to acquire a stake in, left negotiations. Henry Stephens also acquired stakes in Johnson Wax and Fan Milk. The company was a pioneer in the Nigerian maritime industry and was one of the first Nigerian companies to own an interest in a shipping line In 1970 he was appointed president of the Lagos Chamber of Commerce and Industry; in 1972 he became president of the Nigerian Association of Chambers of Commerce, Industry and Mines; the same year he was elected the first president of the Federation of West African Chambers of Commerce, followed in 1974 with the vice presidency of the Federation of Commonwealth Chambers of Commerce. Henry Fajemirokun was one of the two co-presidents of the Nigeria-British Chamber of Commerce and also a member of the Board of Governors of the Nigerian-American Chamber of Commerce. Henry Fajemirokun was not only a successful businessman; he was also a respected man in Nigeria. In 1968, in appreciation of his own contributions to the development of his province, the Jegun of Ile-Oluji conferred the chieftaincy title of Yegbato of Ile-Oluji on him. In 1971 he was given the title of Asiwaju of Okeigbo and the University of Ife conferred on him the honorary degree of Doctor of Science. A few days before his death – in Abidjan, while leading a trade mission to the Ivory Coast – he presented a cheque for N 15,000 to help build a town hall in Ile-Ife.
|
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by Baayanjida(m): 10:20am On May 12, 2012 |
3in kah iya gyarawa ,sai Ka gyara nah'ka If you know how to fix something,you should then fix yourself. The only thing Igbo appreciate better is their white slave masters in Europe and America,otherwise they never appreciates the true spirit of Africa ( Hausa ). Hausa are know thoughout their entire Histories as traders or born to be traders,100s of years before Igbomen known how to clouths themselves properly. Hausa are way ahead of Igbomen when talking about business. Ibgomen started business after 1960s. 1 Like |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by gerald28: 9:05am On Jun 25, 2012 |
Callotti: Which kain ye ye hard work? |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by naptu2: 9:29am On Jun 25, 2012 |
Calloti/Blazay/Gambrosia/Lasinoh/ Bootyonme/Almondjoy come back! I have missed you! |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by gerald28: 9:39am On Jun 25, 2012 |
Mai-suya: What is the difference between a merchant and a trader? |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by jpphilips(m): 1:09pm On Jul 11, 2012 |
bakila: @Dede Ojukwu Snr achieved all he did without Goverment backing abi? Yeah and his dynasty where is it. Think if snr is around he would have disownwdjnr for causing the war the made his name that of a loser not a financial Giant. he funded that war for three years with his father's money, it was an expensive gamble though, what if he won the war? can you phantom what ojukwu's dynasty would be at the moment? who owned the cash that represents the defunct biafra central bank? |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by alanmwene: 9:13am On Dec 25, 2012 |
naptu2: Part 1Fantastic and very very inspirational!Very GREAT guy! |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by ismhab(m): 1:12am On Dec 26, 2012 |
naptu2: How do you go from being an almajiri to spawning a dynasty of billionaires that includes some of the richest people in Africa?kanawan arziki. |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by naptu2: 11:03pm On Mar 30, 2013 |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by Jarus(m): 12:09am On Mar 31, 2013 |
Naptu, pls inbox me jarushub@gmail.com |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by naptu2: 11:03am On May 11, 2013 |
and another person copies my photo and posts it on the Nigerian Nostalgia Project (he's not aware that it's been done before). 1 Like |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by segedoo(m): 7:58am On May 15, 2015 |
naptu2: Very historical, enlightening entrepreneurially motivating thread. You need to recurrect it please and also include your source(s). I love great reads. |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by dfrost: 7:20am On Dec 19, 2017 |
Nice one naptu2. Who's reading in 2017? 2 Likes |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by Gerrard59(m): 12:08pm On Dec 19, 2017 |
naptu2: Is Moet Abebe of Soundcity related to the family? @Post, Insightful and interesting. I learnt a lot. |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by naptu2: 3:46pm On Dec 19, 2017 |
Gerrard59: I think that's one of John's daughters. |
Re: The Dantata/Dangote Story: How To Create A Dynasty Of Billionaires by karlboss: 7:13pm On Dec 19, 2017 |
I'm coming |
Bc / Forex Trade Alerts - Season 2 / Over N400k Got Debited From My Stanbic IBTC Account Overnight (Pics)
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 131 |