₦airaland Forum

Olumaeme:
His father is the second richest man in Nigeria, he's rich already, so there's a very strong final financial backing, there's a company for sale, he put in and lost... There's nothing special in that na.

Anybody, I mean anybody can do that, he can even stay back in Nigeria and bid without running up and Dan... There are many rich kids who buys existing companies too depending on how deep your pocket is...

I have a friend who we are serving together and had wanted to start a fish pond and luckily there was someone who had a problem and willing to sell, he just spoke to his mum and in 5days, the money was raised and that was it...

I believe there are millions of rich kids who would have bought and sold companies....

The only thing Is that, he's a good story teller.... At least this time, it's not about women

wristbangle:
I am indifferent about paddy adenuga's media propaganda, painting him in a derogatory way but people who have worked with him closely when he was the acting chairman of glo made positive remark about him.

This is someone that is solely behind the idea of per seconds billing in telecom business and responsible for strong staff welfare in globacom then until some wolves deceived his father to believe paddy is reckless in resources management. The company ought to have been bigger than this but see where they are till date.

I read his article keenly and what I deduce from it is an enthusiastic, intelligent, assertive and dogged young man who is an inspiration to Nigerian youths who are particular about achieving what is not achievable.

He might have loss the deal but for the courage he had put on coupled with the contacts he made will give him an edge when next an international bill comes up.

Some people will say, if not because he is from a rich home... how many sons and daughters of billionaires are so enthusiastic like him?

MrMcJay:
As you stand today, if I'm to invest a million dollars into you, do you have a viable business enterprise to absorb such investment or you'll keep manufacturing excuses as you did above?

Mike has laid a solid foundation for Paddy to build on. Whether you like it or not, he won't operate business at your level, he's passed your pedestal. He's filling the gap between demand and supply and not trying to create a market in itself. Those points you created are for a different business model.

Because you have built a thatched hut, you refuse to learn from someone who tried to build a. duplex and suffered temporary setback.

If you can't build a skyscraper, build the solid foundation that your children would build skyscrapers on.

just2endowed:
I admire his passion and ambition but the thing there is that, he comes from a rich home and he has so many option of raising capital to the least. Bank are even ready to lend him that amount knowing fully well that his name is Adenuga.

LaudateII:
You obviously do not know how the world of global, cross-border international businesses, run! Free your mind from this myopic view, biko! How many rich kids of African descent do you know, that have made a bid for an international exploration company in Western Europe, from their bedrooms in Nigeria or other parts of Africa? You think that is how bids are conducted?

ochejoseph:
Chronicles of Catalan : Five Lessons I learnt From Paddy Adenuga's Memoir

One thing that Paddy's memoir thought many ignorant Nigerians like my self was that Paddy Adenuga was not the spoilt, overbearing, and unintelligent fellow that the Nigerian media have painted over the years. As I read through his Chevron Netherlands acquisition dairy, I pictured a young Nigerian that exemplifies the true Nigerian spirit of never giving up, a young Nigerian transforming his education, training, and contacts into an idea that would have revolutionized the way oil and gas business is conducted on the continent.

Going through his write up to me was like attending Harvard Business school through the back door, the whole business concept of Catalan, and the openness with which he described his failures and willingness to accept responsibilities for them makes the chronicles of Catalan a good read for African businessmen and women with interest in becoming big players in the Oil and gas sector on the continent with one of the largest proven oil and gas reserves in the world.

Lessons From Paddy

1. Unlike many rich kids and heir to riches, Paddy had the courage to strike out on his own and build a business that was bigger than anything he has ever attempted.

Lesson: All rich kids are not the same ; the fact that he/ she is from a rich home does not mean he/she is not intelligent, ambitious or hardworking.


2. Although born with a silver spoon, here was a golden boy, uncomfortable with sitting back and getting a golden pass through life. He swapped the largest Indigenous mobile telecommunications operator with a five man start up to pursue his dreams.

Lesson: Riches does not necessarily make you fulfilled


3. He was willing to venture and travel into unfamiliar territories outside his comfort zone in search of new opportunities instead of "feasting" on his fathers empire.

Lesson : There are certain things you will never learn in your comfort zone

4. The Edgar and Remi component of the memoir showed that experience and relationships still matters a lot in business, and that although he has managed companies at the highest levels, he was not immune to making bid wrecking and business crumbling mistakes.

Lesson: You may never get help if you refuse to ask.

5. The Catalan Management advice against his guts is a reminder to business tycoons and entrepreneurs that sometimes its pays to trust your instincts.

Lesson: It takes more than best brains to succeed in business.

As an avid reader and author, I have chosen to share this few but powerful lessons I have learnt from Paddy's chronicles praying that perhaps , Nigerians who hate long reads like me sometime ago will somehow learn from a Nigerian who has chosen to share his memoir with us with the hope that we will learn from the mistakes of his near acquisition of Chevron Netherlands and just like his father we will one day share in his joy and accomplishments.



Oche Joseph Otorkpa
31. 01. 2018
Abuja, Nigeria.


http://www.publichealth.com.ng/catalan-chronicles-5-lesson-i-learnt-from-paddy-adenuga-memoir/

majekdom2:
We will keep seeing different posts from different people claiming they have learnt one or two thing.... simply because it's Adenuga. The typical ass licking character with most Nigerians. What paddy has done is what every other "business man" does everyday. Trying to get deals done.
Whilst I salute his effort, boldness, courage and entrepreneur spirit, I do not find his story motivating. Yes, it's not bad belle. Catalan was just another trading business that may have happened. Typical buying and selling with no tangible technology creation or transfer itself. I mean Paddy is not building a product from scratch, going to test it market, trying to acquire customers and then not making money as one would have projected. Stories like facebook, Google, Amazon, Dropbox, pay stack, microsoft, apple and name it. These are businesses that were built from nothing. Adenuga wanted to purchase an asset. With some connection, you can secure loan from the bank and buy an oil assest. It's something we hear everyday. It would have been a more interesting story if he did something outside his father's business. I mean build a product from scratch. This is my own definition of entrepreneurship!

majekdom2:
We will keep seeing different posts from different people claiming they have learnt one or two thing.... simply because it's Adenuga. The typical ass licking character with most Nigerians. What paddy has done is what every other "business man" does everyday. Trying to get deals done.
Whilst I salute his effort, boldness, courage and entrepreneur spirit, I do not find his story motivating. Yes, it's not bad belle. Catalan was just another trading business that may have happened. Typical buying and selling with no tangible technology creation or transfer itself. I mean Paddy is not building a product from scratch, going to test it market, trying to acquire customers and then not making money as one would have projected. Stories like facebook, Google, Amazon, Dropbox, pay stack, microsoft, apple and name it. These are businesses that were built from nothing. Adenuga wanted to purchase an asset. With some connection, you can secure loan from the bank and buy an oil assest. It's something we hear everyday. It would have been a more interesting story if he did something outside his father's business. I mean build a product from scratch. This is my own definition of entrepreneurship!

CorperShop:
Guy, are you married? You are one of the few Nigerians I've seen lately with intelligent reasoning. I like you already.

LaudateII:
If your collateral provides enough guarantee to cover the loan you want to borrow, why not? Banks only make money when they lend it out at a certain interest rate, not when they keep it hidden under their blankets. And some of the rich people you see around, are already heavily indebted to the tune of billions, to other banks already....

kennyakinz:
God bless you for your insight, dunno what the fuss is about. He didn't even get the deal over the line! Personally i find the likes of Seun Osewa more inspiring than this guy. Peeps that came from humble beginnings and made it to the top despite all the odds...

americanson:
Seun is not from a poor home. His dad has 4 or more big schools where I am base... The biggest over here.

So only tech and app are perceived as being innovative... Who told you Seun built this forum from scratch. He started with Simple machine forum script which is freely available online. Online forum is idea of another man and Seun copied it. So where is the "innovation" you all are screaming all around?

kennyakinz:
Sigh....you didn't get my point. When i mentioned his humble background, it was in comparison to Paddy's. Was Seun's father a multi billionaire??Also innovation doesn't have to apply to IT alone. Even normal buying and selling could show traits of innovation depending on how you go about it.

Just like someone said on here, his doggedness and drive are commendable. However given the sphere where he operates, his moves were par for the course. He had the background, pedigree, connections and money to make these moves. Other businessmen do the same thing every single day but on differing levels.

Perhaps the reason his story created waves was because of the vivid manner he was able to describe the world of international finance which many people are not privy to.

kennyakinz:
You can't deny the fact that his name will open a LOT of doors for him, especially in a country like Naija....

Olumaeme:
It's even more easier to do international business, because you do not Need to bribe in other countries to get business done. If you have your money, you can fly to any country and invest.
There are chambers of commerce of countries everywhere, high commissions of countries everywhere.

Maybe you are carried away by the "international"

Most of the rich kids who do Business abroad don't come online to look for cheap popularity bro

CorperShop:
Guy, are you married? You are one of the few Nigerians I've seen lately with intelligent reasoning. I like you already.

LaudateII:
Oh so you think it is easier to leave your country, and go elsewhere and just buy up another firm that is almost like a national icon in another country, simply because of all the things you listed here? Are you aware that such foreign countries have far more stringent rules concerning taxation, labour, bidding, environmental as well as legal obligations, that you have to fulfill? Wait first, if it is so easy according to you, tell us how many international businesses have you bought in Western Europe and other foreign countries?

LaudateII:
You obviously do not know how the world of global, cross-border international businesses, run! Free your mind from this myopic view, biko! How many rich kids of African descent do you know, that have made a bid for an international exploration company in Western Europe, from their bedrooms in Nigeria or other parts of Africa? You think that is how bids are conducted?

Olumaeme:
He hehehehe, u don surely tey for village..

Is there anyway you will do business anywhere without one yin rules and regulations? Is there anywhere u will do business without paying taxes?
All this things u mentioned here, even a 2yr old knows..
I have worked with a contracting firm and I swear with your money, you can do business anywhere, I meant any country.

There's a man I know for example, bought a company in China, he's into supply of military and Para military uniforms, kits (major supplier), part of the suppliers of NYSC kits and all...
He bidded for up to 6 companies, his son is studying in China and a friend to a rich man in China who helped them Broker the business and acquisition...

He's also member of Nigeria - China Business council... And have met friends there who will always bring business opportunities they can invest in China, and Nigeria etc

It's not a big deal, this is what happens every other day in the business world...

Let me tell you something, to do business in Netherlands, it takes around 1500 - 2500 euros to register your business depending on the size, you can join the Dutch chamber of Commerces, meet people and get to know about business opportunities in their countries, if u have money invest..

You can go tru a citizen as a third party so as to reduce your taxation and all...

There's nothing special about this guy's story...

LaudateII:
Yes, your friend bought a company in China? You people can tell fake stories, sha. Maybe it was a small SME family shop or start-up mini factory, making kits that he bought, and you are now flaunting it up here. You want to compare that small Chinese shop with Chevron Netherlands firm, that Paddy Adenuga bidded for? Chai, you are very funny.

If it is so easy to buy an international firm like Chevron Netherlands, tell us how many of such international firms you have bought in Western Europe, and how you assembled the financing for such an endeavour.

Olumaeme:
I can clearly see how mundane and senseless u are, I do not need to engage u anymore.
U said its not easy to own company in Europe na because of tax and work force.. Hahaha hahaha..

Your brain don jonnzzzz..

It's just like the best footballer in Nigerian going for trials in Barcelona and he failed.....

Lots of people are bidding for businesses across the world everyday...

No b new thing guy, maybe paddy's story is the greatest u have ever heard in your life... I understand

If you and your family is wretched, everybody is not

Ugosample:
Many Nigerians are hateful, spiteful, and have extreme jealousy for those who are successful


I see that all the time

DonX001:
Lol, I never knew that, until I read people's responses on these Paddy Adenuga's different threads.
Its just amazing.

Ugosample:
I'm telling you

Hatred for successful people is in the hearts of many in Nigeria

NothingDoMe:
OcheJoseph I have issue with you. Why have you been running from Buhari matter

ochejoseph:
I told them before they elections that he was a failure they insulted me

I told them after the election that disaster was looming they pelted me with words

Now that what I said is the reality there is nothing more to say than mind my Business and pray for Nigeria

It seems most Nigerians like Suffering that's the painful reality .

May God Help Us