₦airaland Forum

oluwaseyi0:
That's over 250million

Quarter of a billion naira

in today's money that money is worth over $2. 5m

Anonymous11:
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.

His father wasn't wealthy but could afford to give him a 250,000 pounds loan? How do you explain that?

Concerning Femi's background, it is known that his father managed FON Nigeria Press in Onipan/Mushin, a business of modest scale. Public information suggests that Femi was subject to scrutiny from central banks in 2008 due to defaults on significant loan obligations. It is also understood that his financial situation improved considerably in the early 2000s, following the acquisition of an oil block in 2005. He is perceived by some as an opportunist who benefits from considerable government favour. Adenuga, Dangote, and even Abiola, among others, were similarly favoured by their close associates in positions of power at the time.

You are welcome to form your own opinion regarding the accounts presented in Femi's book. However, it is known that Femi's father was not a wealthy individual capable of providing Femi with the sum mentioned. Furthermore, it is known that Femi has an older brother who is an ordinary member of society.

CoronaVirusPro:
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.

Lol them plenty boss.

No body is disputing the fact that they are far ahead.

But to whom much is given, many many much is expected.

And he brought back bountifully,

Kudos to him.



Secondly there are many grace to grass stories out here.

You can ask Markangel how he lost $5m

ferhyntorlah:
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!

Gracias.

They always try to undermine the diligence of the rich.

People like bezos and Elon also came from stable background.

But go & check there work ethics.

The duo sleeps in the office.

Arostar2023:
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...

His story won't appeal those want's a pat in the back.

And it's too costly, so they won't even read it.

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

My brother,u are right.

Anaconda76:
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.

The Bible is fiction!

Tell me reality!

Blizzy300:
Lol them plenty boss.

No body is disputing the fact that they are far ahead.

But to whom much is given, many many much is expected.

And he brought back bountifully,

Kudos to him.



Secondly there are many grace to grass stories out here.

You can ask Markangel how he lost $5m

Grass to billionaire status you said. Start mentioning the names of those individuals.

They all kick off from a high spot and sell the notion that the struggles.

Zuckerberg and Bezos said same. They never tell you how their family paved way.

How did Elon’s dad give him?

You think poor men are just failures? Give them same opportunity and see what ideas they have and what they can do.

Blue Ivy does not even have a job yet and she is already worth more than Davido and Wizkid combined. She we applaud the kid for being industrious and hardworking?

Hello, we don’t need to argue about this. A kid born in a rich home is 1000x ahead his peers born in poor homes.

Even though he goes broke, he STILL will never be as poor as same peers from poor homes.

Oga no dey talk nonsense na obj made you what ever you are today

For me, Otedola's name is a Classic of how your Name can make a difference in Life!
Pa Otedola is a Native of Epe- a shrewd Businessman,that was touching many lives, through Giving of Scholarship to do many Students, even before he became a governor in Lagos State then.
I will urge the Otedola Junior to do more in this Education Area - by putting his name in eternity through Sweeping Scholarships to Numerous NIGERIAN Youths and by making it Public - for everyone benefits.
The Harvard,the Oxford and Other Universities of the World 🌎 were able to be relevant till date- because they get the best of hands in Scholarships for Different Students - many who would not have got to where they are today.
That itself is a Legacy and his Dad will surely be proud of him.
Well Done Sir.

CoronaVirusPro:
The Bible is fiction!

Tell me reality!

Ok. Reality!!; There is a popular family in Akwa Ibom State. Their name is Utuk. In the 80s and early 90s the two brother owned a transport company called Utuks Motors Ltd. As at then they were the only company who did long haulage of people, goods and services from Lagos to then Cross River State and later Akwa Ibom and then other parts of Nigeria. Wealth, Power, Influence. They had monopoly of long distance haulage before the likes of Dantata and Sawoe, the man who is partly responsible for supporting Dangote in business; the same Dantata and Sawoe who made BILLIONS from haulage during the construction of Abuja FCT . Passed down to the 2nd and 3rd generation of the brothers, the family name is only mentioned for past glories as they have been involved in one messy litigation after another; properties being sold and going to court to counter. You can google the family as they are not "fiction" Then there was Dr. Ime Umana aka Imesco Group of Companies; the only thing he didnt achieve was becoming Governor of Akwa Ibom state. His influence was such that the then President Gen IB Babangida paid an official visit to Akwa Ibom and paid a personal visit to Imesco in his country home in Abak! Back then amongst many successful businesses he owned he was the SOLE importer of BMW cars in Nigeria. Companies, thriving business he left behind have all being either sold, ground to a halt, asset vandalized; people dont even know where his descendants are again. These two i know as they are in my state and my father was very proud of them as we were all kinsmen. As 2baba said "kuku google am".

bigwig071:
Oga no dey talk nonsense na obj made you what ever you are today

Don't mind him, a nobody in the '80s and '90s, he come dey form that na him father borrowed him money. For where! His father was never a wealthy man, but a modest, humble and content businessman. FO was a guy man, who rode on the opportunity of his Father's name and government connections to achieve success, and got consolidated when Obasanjo came to power... Then he was reckless with it. He was spending the National cake like no man's business, buying private jets, etc that he couldn't maintain. He was way too reckless also borrowing so much from banks, likewise, Dangote and their likes... They are all Government padi... Nigeria has always been run by oligarchs- Padi,padi government promoting crooks... It was Jonathan's administration that eventually wrote off his bad credit....Now the silly crook has fabricated a cock and bull biography for the younger generations to consume...

Make we leave story, and talk better things. Wishing him well... It's up to him and his God to judge...😊

If you read the Book Outliers by Malcom Gladwell you'll understand why the rich keep getting rich. He analyzed Bill Gates and so many billionaires who had privileges others never had. In fact others worked twice as hard but never got to see the limelight because they lacked the privilege and lever.

Anonymous11:
Don't mind him, a nobody in the '80s and '90s, he come dey form that na him father borrowed him money. For where! His father was never a wealthy man, but a modest, humble and content businessman. FO was a guy man, who rode on the opportunity of his Father's name and government connections to achieve success, and got consolidated when Obasanjo came to power... Then he was reckless with it. He was spending the National cake like no man's business, buying private jets, etc that he couldn't maintain. He was way too reckless also borrowing so much from banks, likewise, Dangote and their likes... They are all Government padi... Nigeria has always been run by oligarchs- Padi,padi government promoting crooks... It was Jonathan's administration that eventually wrote off his bad credit....Now the silly crook has fabricated a cock and bull biography for the younger generations to consume...

Make we leave story, and talk better things. Wishing him well... It's up to him and his God to judge...😊

all the Hausa and Yorubas billionaires are all government made billionaires

oluwaseyi0:
That's over 250million

Quarter of a billion naira

No,its equal to around 822milion naira today