₦airaland Forum

Aliko Dangote says the biggest business mistake of his career was investing in textiles.
It cost him more than money.

His textile businesses eventually closed, and almost 8,000 workers lost their jobs, including 6,920 employees at Nigerian Textile Mills in Ikeja.

Dangote says the businesses were overwhelmed by Chinese and Indian imports and insufficient government protection.

But the history of Nigeria's textile industry reveals a bigger problem.
Local manufacturers were also dealing with unreliable power, expensive infrastructure, limited financing, policy instability, smuggling and difficulties accessing competitive inputs.

That makes Dangote's experience more than a billionaire's story about failure.
It is a case study in what happens when a factory is built without a sufficiently competitive industrial ecosystem around it.

And it helps explain why Dangote's later industrial bets look different.
Cement. Fertiliser. Refining.

Businesses where scale, local production and infrastructure can potentially create stronger structural advantages.

Businesscabal explained what Dangote's failed textile investment taught him about manufacturing in Nigeria. https://businesscabal.com/dangote-textile-business-mistake

All of them know what they're into that gives them blocs. Na you nor know

Wealthyonos:
All of them know what they're into that gives them blocs. Na you nor know

Lol...if you know, abeg share update for us