₦airaland Forum

oluwaseyi0:
That's almost 250billion

Quarter of a trillion naira
More than some state budget

You sure say you finished Primary school?...😏

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

Olodo generation 😥..if it's to abuse one tribe or the other they know😭..but to convert pounds to Naira, dem know not...shm

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

Nothing surprising. It would have been surprising if after all his father's money he didn't become rich himself.

SmartPolician:
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.

Your comment is contradicting itself

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

All this kind story dey tire person abeg $250,000 na here....

AkpaMgbor:
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.

You think it's easier to manage €250k turn it into multimillion business?

Than raise €250k?

Do you even know how hard It is to convert your network and connections into liquidity?

Real business men will never hand over there business affairs to you if they deem you incompetent no matter who your father is.

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

It is still unique in a way because not everyone born into wealth sustained it. Some people squandered their father's fortune on hard drugs and bad investments. He sustained the father's wealth and even became richer.
So, he is unique in his own way. Na him know him struggle. He explained struggling so much with academics, something most of you here achieved with ease.
If you know what is means to struggle with academics and the accompanying loss of self-confidence, then you will imagine what he had gone through, even as a rich man's son.

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?

Hoe many sons of poor men are billionaires in Nigeria today?

Hello, being born into a wealthy family makes you 100X ahead of your poor peers. The Governors sons that were not billionaires will never be as poor as their peers who came from poor families.

Sincerely your dad really helped you. And you have passed the helps to your daughter's too

tiswell:
He was born into wealth,nothing changed his life cos his life was already stewed from birth.

Make una let poor Nigerians breath!!!

I dont believe its about being born into wealth. Its about wisdom, wealth management and the grace of Almighty God. There are many families in Nigeria that immediately the Head of the family passed, nothing else was heard about them again. Soon after Chief MKO Abiola, the winner of the June 12 1993 presidential election in Nigeria passed, the family started to decline. His company Concord Group of newspapers should by now have become a mega newspaper across West Africa in print and digital media. By 1983 Concord was the most widely read newspaper in Nigeria. Many children now who are born into wealth just wanna live the soft life, spend their father money, sell houses and cars, travel the world, put white power across the nose, carry olosho and that's it...

Anaconda76:
I dont believe its about being born into wealth. Its about wisdom, wealth management and the grace of Almighty God. There are many families in Nigeria that immediately the Head of the family passed, nothing else was heard about them again. Soon after Chief MKO Abiola, the winner of the June 12 1993 presidential election in Nigeria passed, the family started to decline. His company Concord Group of newspapers should by now have become a mega newspaper across West Africa in print and digital media. By 1983 Concord was the most widely read newspaper in Nigeria. Many children now who are born into wealth just wanna live the soft life, spend their father money, sell houses and cars, travel the world, put white power across the nose, carry olosho and that's it...

Hello, those MKO Abiola’s kids will never be as poor as their peers who came from poor families.

I will repeat, being born into a rich family makes you 1000X ahead of your peers from poor backgrounds.

PrincessDiana:
This man will just make Nigerians to remember his matter.

No mind am. He better keep quiet.

They are beginning to admit the initial source of capital that made them billionaires.

It did not stop at that 250,000 pounds sterling.

SmartyPants:
True poverty is sincerely in the mind. People who suffer from this sort of poverty have this fascinating desire for instant wealth while being, at the same time, fanatically loyal to the concept of impossibility.

You ought to realize that all generational wealth was started by a man who at one point in the history of his family, was as poor as everyone else.

Similarly, generational poverty arises out of the action of a man who, at one point in the history of his family, had the same opportunity as everyone else and did not build on it.

Spits
Just imagine what a human being could be typing


Does it mean humans began existing as poor, totally


What sort of thinking are you thinketh

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.

Femi's father was a former senior staff at an oil company. Mobil I believe

No wonder Wigwe, Tony and Jim whine m for those shares, dem know say na trust fund baby and those niggahs were all trenches grass to grace hustlers. Ote was reckless, bribing politicians at a point, I wonder how that bribery case ended though…

jmoore:
Did he mention about benefitting from the subsidy fraud in his book?

he will definitely not

IamaNigerianGuy:
Femi's father was a former senior staff at an oil company. Mobil I believe

No. He was a former printer at shomolu. He had a Printing Press back then. This isn't a hidden or fabricated story. He may have had shares in Mobil and qualified as one of their directors after he became wealthy. Same IBB made Uncle Adenuga of Glo and late chief earnest Shonekan. Baba shonekan was a director at UAC back then when IBB wouid always invite him to solve some economic and financial problems bedevelling the nation at Doddan Barracks. When he was leaving, he handed over to Shonekan,whom he had worked with and trusted so well, while his military government lasted.

I never knew this man's father was once a governor lol

Tomorrow now dis same billionaires will be telling us dat it is hard work, they started from scratch. Ah, u don't need Capital now, acquire skills first. Nobody will tell u how or dat they got help starting oo, but will be telling youths stories. People should help youths with capital, then we take it from there.

CoronaVirusPro:
Hello, those MKO Abiola’s kids will never be as poor as their peers who came from poor families.

I will repeat, being born into a rich family makes you 1000X ahead of your peers from poor backgrounds.

Read the story of the prodigal son in the bible.

'Modest beginning' as how?

Dazidon:
Spits
Just imagine what a human being could be typing


Does it mean humans began existing as poor, totally


What sort of thinking are you thinketh

No, humans were created with billions. Am I surprised all you have to offer is spit? Not at all.

SmartyPants:
No, humans were created with billions. Am I surprised all you have to offer is spit? Not at all.

Nonsense!

Is it paper money that was used to measure wealth over 3,000 to 5,000 years ago?

Stop your nonsense. You father was once a Lagos governor.

Anaconda76:
Read the story of the prodigal son in the bible.

That’s fiction!

Tell me about reality. That Micheal Jackson son will be poorer than Portable in future.

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?

Thank you
Thank you
Thank you very much sir.

Being born into wealth is great BUT maintaining and sustaining the wealth is what many lack!

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?

It's still doesn't take away the fact that he came from a wealthy and politically connected family. There are many Nigerians languishing in penury because of lack of access to what he had and has. His story won't inspire many Nigerians because he benefited from the rot...

Femi's Dad was only a Governor for a period of less than a year, like Kemi Olunloyo's father, and a few others! His father was not known to be a wealthy man. It appears that Femi's book may not be entirely accurate, according to those who are familiar with his sources of wealth. Femi and Dangote seem to have been individuals who capitalised on opportunities, gaining access to government assistance in the late 1990s, specifically when Obasanjo came into power. They both benefited from government favours. Femi's father was not wealthy, but he maintained a close friendship with Obasanjo.

CoronaVirusPro:
That’s fiction!

Tell me about reality. That Michael Jackson son will be poorer than Portable in future.

The story of the prodigal son was used as an example of issues that existed during those times; it served as a warning to people. I dont want to go into practises during bibilical times. However, there is no basis for comparing Michael Jackson and Portable. MJ is a global legend who had talent and left behind a catalogue of great songs which are still selling. His children are being taken care of.....that is if they chose to live a responsible life and not squander their commonwealth. The US is one country that if you chose to be wasteful, the system will will help to be poor. Portable on the other hand, is a hustling young man that started with NOTHING and desires to climb to the top. You cant compare the Naira to the almighty US dollar.