₦airaland Forum

Don't ask Nairaland members for contact details (email, phone, bbpin) or investments

It’s always easier for Nepo babies to get ahead in life

How many of us can our father give N250,000?



This is why as a lapo baby, you should not look up to nepo babies for motivation.

You do not live in thesame reality as they do.

Islie:
https://guardian.ng/business-services/otedola-how-my-fathers-250000-loan-changed-my-life/#google_vignette

£250k loan should change anyone's life at any point in time. So most of us without this kind of privileges are more enterprising than these big men? God abeg!

Success stories are only sweet to tell once you've arrived. Baba Michael otedola was never a rich man. His small printing shop at shomolu where oga femi used to help his father is still there till today but now occupied by another printing outfit. The military came to shomolu with samples of stationery items to be printed and met the then Mr Michael otdeola. He said he could do the job and printed some for delivery at doddan barracks. From there he began to get more contracts from IBB and he became sole printer of the FG ledgers, journals, payslips and record books for all parastatals in Nigeria.

In 1993 IBB called him and said he liked his job and he believes if given a chance to govern, he'll do better but Mr otedola said he had no such money to contest and for campaign. Ibb said no issues and all he needed do was show interest. That's how he became a candidate of his party unopposed. The rest was history.

All we need do is pray for God's grace. It still works till today. No be by power or by education. Uncle femi had not even gone beyond sec schl when the military officers visited shomolu. He was helping his dad in his printing shop. My God's grace find us. I had shared dangote's story here before. How he came to lagos and squatted in alhaji maitama's rented apartment at ijeshatedo. The landlady told me this. She's 92 years old now. From there dangote got exposed to apapa wharf and he gained that connection. His uncle may be rich but never contributed to his Success.

Our leaders were never tribalistic back then until what's happening now. IBB could have looked for a nupe printer from minna to do the job. He was after the best and he got it.

OteDOLLAR!!! Man wey Sabi.

ibechris:
I like the fact that they are writing books now but non of them would ever write how bribe and kickbacks are paid to dislodge others who are in the same industry.

NIGERIAN in a country that value monopoly over competitive growth.

If u enter the same industry,without a big politician backing u,u will never go anywhere. These are part of the men that got to that space because of OBJ and IBB.

Obj and IBB made Dangote,Otedola. While IBB made Authur Eze and the owner globacom,Gado Nasko and many other I can't remember now.

very true this are federal government invented billionaires they wouldn't be Billionaire in stable and organize society .even if FGN Approved only my pure water for Lagos state I be a billionaire .
I respect burna boy . Founders of GT bank , Access , interswrictch, Fintech more than this FGN created billionaires

Making it big requires old money no bother yourself...my going to medical school was sponsored by men I met growing up...my house job placement was made possible by men I met growing up...my nysc was made possible by men I met growing up...my first job was made possible by men who were not related to me...all these men took me as a son..and mind u dey were not my tribes men..they were all yoruba men who were interested in a promising young man.

Most billionaires in Nigeria today did not start from poor homes — the Otedola family is one example.

Adeleke, Adenuga, Dangote, and many others came from wealthy backgrounds. Their fathers, and even their grandfathers, were rich, and they benefited from the networks and relationships built across generations.

If all you can do now is become a millionaire and pass it down to your children along with strong relationships, then there’s a high chance that another billionaire will emerge from your lineage.

My uncle who is a billionaire told me that the rich won't always tell their secrets except when they're old or have nothing to lose again.

Everyone thought otedola made it from scratch but look at him here revealing in his book that his father gave him £250K.....People born into wealthy homes have a higher chance of making it in life than those from average or poor homes.

Let me tell you one thing,the only legit billionaires we have in the world are those who don't care about material things...All they care about is providing value and helping humanity..If the momey don't come,they don't care.....That's why the rich will never tell you their deep secrets....Ask them how to be rich,you'll hear Be consistent,Be hardworking,Take risks and Never give up....They won't tell you the deep secrets.....

It is well.

nwakibie3:
I thought he made it from grass to grace


8 characters needed

which grass when his father was a former governor of lagos state?

Ahmed566:
Him papa get money. Former governor pikiin. Forget all those story. Na super story be that

Was he his father's only son or relative?
Why is he the youngest and only billionaire from the family? Abi na only him benefit from him dad ?

Of all the sons of all the former governors of Nigeria since independence he's probably the first and only billionaire.

Give the man his flowers.

Eriokanmi:
Success stories are only sweet to tell once you've arrived. Baba Michael otedola was never a rich man. His small printing shop at shomolu where oga femi used to help his father is still there till today but now occupied by another printing outfit. The military came to shomolu with samples of stationery items to be printed and met the then Mr Michael otdeola. He said he could do the job and printed some for delivery at doddan barracks. From there he began to get more contracts from IBB and he became sole printer of the FG ledgers, journals, payslips and record books for all parastatals in Nigeria.

In 1993 IBB called him and said he liked his job and he believes if given a chance to govern, he'll do better but Mr otedola said he had no such money to contest and for campaign. Ibb said no issues and all he needed do was show interest. That's how he became a candidate of his party unopposed. The rest was history.

All we need do is pray for God's grace. It still works till today. No be by power or by education. Uncle femi had not even gone beyond sec schl when the military officers visited shomolu. He was helping his dad in his printing shop. My God's grace find us. I had shared dangote's story here before. How he came to lagos and squatted in alhaji maitama's rented apartment at ijeshatedo. The landlady told me this. She's 92 years old now. From there dangote got exposed to apapa wharf and he gained that connection. His uncle may be rich but never contributed to his Success.

Our leaders were never tribalistic back then until what's happening now. IBB could have looked for a nupe printer from minna to do the job. He was after the best and he got it.

The point is that Sir Michael Otedola became rich somehow and helped his son.....Or how will a poor man give his son £250,000 in the 90"s?

Karleb:
How many of us can our father give N250,000?



This is why as a lapo baby, you should not look up to nepo babies for motivation.

You do not live in thesame reality as they do.

pounds not naira

classicfrank4u:
I will only purchase a book written from a billionaire that made it from scratch, dude was born into a rich home so nothing special about what he has to say

Lol! It's an open secret that becoming a billionaire from the scratch happens only when someone identifies a distruptive innovation and build on it. Only a powerful brain 🧠 can make billions from almost zero amount. But in the real sense, the cost is super high.

Otedola only tapped into trading and government contracts. He can't make it big if he plays on the level with many of his mates. Though, I acknowledge his success. Many have squandered such opportunity, and there are many who had better stuff than him, and they still messed it all up.

As of today, you can become a billionaire if you are gifted in genetical researches and applications, AI and data science, analytical related stuff.

ibechris:
I like the fact that they are writing books now but non of them would ever write how bribe and kickbacks are paid to dislodge others who are in the same industry.

NIGERIAN in a country that value monopoly over competitive growth.

If u enter the same industry,without a big politician backing u,u will never go anywhere. These are part of the men that got to that space because of OBJ and IBB.

Obj and IBB made Dangote,Otedola. While IBB made Authur Eze and the owner globacom,Gado Nasko and many other I can't remember now.

Honestly, I only know Dangote after 1999.
My school was along an expressway. Never for once did I see any Dangote truck until after Obj came in in 1999. The man is an industrialist, but he hugely benefitted from government favors and undue advantages

oluwaseyi0:
That's almost 250billion

Quarter of a trillion naira
More than some state budget

Yes it's 250 billion, but you know say naira get value as at that time so it's a block money. 😁

DeOTR:
Honestly, I only know Dangote after 1999.
My school was along an expressway. Never for once did I see any Dangote truck until after Obj came in in 1999. The man is an industrialist, but he hugely benefitted from government favors and undue advantages

Dangote and co started all this import rubbish thing destroying Nigeria industry based then later on started several failed companies like Dangote textile kano , Dangote Flour ,dansa Juice , Dangote tomatoes .but after obj crated the opportunity With obajana cement boom
Dangote sugar boom
Dangote refinery .he now needs same tactics but PIB and Tinibu is not agreeing

nwakibie3:
I thought he made it from grass to grace


8 characters needed

At the end they always mistakenly reveal the truth

Educationalserv:
very true this are federal government invented billionaires they wouldn't be Billionaire in stable and organize society .even if FGN Approved only my pure water for Lagos state I be a billionaire .
I respect burna boy . Founders of GT bank , Access , interswrictch, Fintech more than this FGN created billionaires

The day these men would die,a lot of things would be unveiled such as infighting over money,stakes and cuts.

There are powerful politicians with stakes in Dangote refinery,Dangote cement,Bua cement and Sugar.

Wetin I know self.

Hon. gent did very good with the financing. Quite a few offspring of the upper class become connoisseurs of wine, women, and song.

Guys learn, for every successful billionaire there is the invisible support of old money in the background.

Same can be said fro his friend Dangote. The wealthy teach their children money secrets at young age, and support them.

Check all them billionaires, Elon, Trump, Gates et al they were groomed to be billionaires, Bleep the hard work slogan.

That is just designed to stroke the fragile egos of the slave populace. This should make those of you wasting your 7 years in a tertiary institution for paper certificates to have a rethink.

These guys don't follow the rules they write them.

Blizzy300:
You people should desist from this idea that he came from a wealthy home,

it's requires great diligence, hardwork and grace to attain that height.

He was well positioned and took the opportunities when it came.

If you think it's about your parents having money, how many Governors and president sons are among the richest in Nigeria today?

His father’s wealth comes with the networking and connections too, not just the cash. 250,000 pounds today is not a small amount even in the UK. Now juxtapose it with what it was worth during the time his father gave him the ‘loan’. It was a life changing cash back then.

Yeah, father was an ex governor... public office, public...go figure.

That money those days no easy.

nwakibie3:
I thought he made it from grass to grace
8 characters needed

He was born with a silver spoon. He turned that around real good.

Ontarioo:
He was born with a silver spoon. He turned that around real good.

More like political silver spoon

Ahmed566:
Him papa get money. Former governor pikiin. Forget all those story. Na super story be that

governor for just two years??

nwakibie3:
I thought he made it from grass to grace


8 characters needed

No now...

Sometimes I just laugh at some people. Do you know how many people couldn't sustain family wealth? Or do you think it's easy to build imon legacy to become one of the richest in the Africa? You can still come from wealth and lack vision. To become someone in life doesn't matter what foundation you come from but who you want to be. Cos his father built a foundation for himself and he used it for himself his not his fault, if our father did the same won't we use it too?

Blizzy300:
You people should desist from this idea that he came from a wealthy home,

it's requires great diligence, hardwork and grace to attain that height.

He was well positioned and took the opportunities when it came.

If you think it's about your parents having money, how many Governors and president sons are among the richest in Nigeria today?

Bros, rest! It's much easier to meet and manage wealth than to grow wealth from scratch. This isn't even up for debate.

As regards how many of their children still have money? That's because rich kids hardly have the guts and resilience to maintain wealth because their parents always spoil them silly.

Yes, I give it to him for building on what he met, but I still maintain the first paragraph.

Make dis man no let people dey feel bad towards their father jare. My papa try him best for me.

thats something heavyyy as at that time
its good he put it to good use.
some folks would have blown it away on frivolities