Congrats to our one and only Aliko Dangote. More grease to your elbow!


The Nigerian businessman's fortune surged 557% in the past year, making him the world's biggest gainer in percentage terms and Africa's richest individual for the first time. The catalyst was listing Dangote Cement, which integrated his investments across Africa with his previously public Benue Cement; it now accounts for a quarter of the Nigeria Stock Exchange's total market cap. Already the continent's biggest cement maker, he has plants under construction in Zambia, Tanzania, Congo and Ethiopa and is building cement terminals in Sierra Leone, Ivory Coast and Liberia, among other places. Dangote, who recently bought himself a $45 million Bombardier aircraft for his birthday, has been shuttling back and forth to London for months, in anticipation of a public offering there later this year. Dangote began his career as a commodities trader; built his Dangote Group into conglomerate with interests in sugar, flour milling, salt processing, cement manufacturing, textiles, real estate, and oil and gas.

http://www.forbes.com/profile/aliko-dangote

Damn. This image seems approproriate: http://www.tbohiphop.net/UserFiles/Image/music_videos/snapshot20070102213612.jpg

I think Dangote is even wealthier than Forbes attributes to him when you consider his unlisted companies like Dansa Foods Limited, Integrated (Oshogbo)Steel Mills, Savannah Sugar, Alheri Engineering (long distance telecoms service), Equity Energy Resources (stakes in upstream oil-fields), Green View Property Development (Luxury High-rises in Abuja, Ikoyi, VI, Kano), cement assets outside Nigeria, 25% of MRS (Owners of Chevron Nigeria)

How much is the above worth? In any case, the guy is made for life

What about his bank debts?

kalokalo:

I think Dangote is even wealthier than Forbes attributes to him when you consider his unlisted companies like Dansa Foods Limited, Integrated (Oshogbo)Steel Mills, Savannah Sugar, Alheri Engineering (long distance telecoms service), Equity Energy Resources (stakes in upstream oil-fields), Green View Property Development (Luxury High-rises in Abuja, Ikoyi, VI, Kano), cement assets outside Nigeria, 25% of MRS (Owners of Chevron Nigeria)

How much is the above worth? In any case, the guy is made for life

made for life? are you kidding? the dude is made for next life if any!

Fogman:

What about his bank debts?

To the best of public knowledge, Dangote does not owe any Nigerian bank. He is however indebted to Standard Chartered plc to the tune of about 350 Million dollars. A pittance when compared to his assets

Adenuga is 597 with a net worth of 2 billa

How come there is no Ibo on that list


I guess, like Nigeria, Forbes is discriminating against Ndigbo.


I think the Nigerian consulate in NY should protest. Where is Dora Akunyili when we really need her


We must not stand for this injustice

Fogman:

What about his bank debts?

fstranger3:

Adenuga is 597 with a net worth of 2 billa

How come there is no Ibo on that list


I guess, like Nigeria, Forbes is discriminating against Ndigbo.


I think the Nigerian consulate in NY should protest. Where is Dora Akunyili when we really need her


We must not stand for this injustice

I wonder what his wealth will be once nigeria splits up. He definitely won't have a monopoly on the various industries he's having in nigeria. Definitely not in an Igbo country.

All monopolists who call themselves business men. Well, well

^^^

WHat about Adenuga


How come no Ibo man or woman on the list, yet they claim to own 90% of Lagos

fstranger3:

^^^

WHat about Adenuga


How come no Ibo man or woman on the list, yet they claim to own 90% of Lagos

Just give it up already.

fstranger3:

^^^

WHat about Adenuga


How come no Ibo man or woman on the list, yet they claim to own 90% of Lagos

a rich igbo man is Emeka ofor. one of the riches people in nigeria and africa

shotster50:


Just give it up already.

^^^^

Give up what?

Alj Uche:

a rich igbo man is Emeka ofor. one of the riches people in nigeria and africa

Yeah right.

whats his number on the list?

obowunmi:

All monopolists who call themselves business men. Well, well

I see some ignorance / misconception on this thread. There is no product that Dangote sells in which he is a 'monopoly'. If dangote has a monopoly in, say flour, what happened to Flour Mills of Nigeria(Nigeria's biggest miller), Honeywell flour mills, BUA flour, Crown flour mills, Northern Nigeria flour mills, Lister mills?

If Dangote is a cement monopoly, what happened to Lafarge (Wapco), Flour mills (UNICEM), Cement company of Northern Nigeria, Eastern Bulkcem, Ashaka, Sokoto cement, AVA?

If Dangote is a rice monopolist, what happened to Stallion, Olam Nigeria and Churchgate? What of BUA sugar?

Ignorant Nigerians do not realize that the secret of Dangote simply lies in the fact he produces on the biggest scale which gives his product a cost/price advantage coupled with the fact that he has an unmatched distibution fleet in Nigeria. Only strong multinationals with deep pockets like Lafarge or Flour Mills can compete with that. Go into the market place and see if if there is any product that Dangote sells in which his products are not far cheaper than that of his competitors. This is essentially what drives them out business as they cannot match dangote's prices.

How can you be importing 50000 tonnes of cement and want to compete with someone who manufactures more than 5 millions tonnes. Or want to compete with someone who has more than 5000 trailers criss crossing the length and breadth of Nigeria distributing his goods. You can't.

Another secret of Dangote is that he has turned his name into a national brand. There is no product that he produces that does not fly off the shelves. why? Why not produce your own cement and brand it 'Dimkpa' and place it side by side with 'Dangote' and watch which one Nigerians will buy. That is the power of his brand.

How come every product he sells is not smuggled into Naija? Have u seen smuggled cement, flour, fertilizer, sugar etc. in Nigeria? Its simply because those goods can't compete with his prices and product availability? The only time smuggled rice disapeared from Nigeria was when Dangote was selling rice. His prices drove them out. He does not sell rice anymore though. Dangote's tactics is what thrives in a mass market like Nigeria.

So think before you malign the man

He`s so rich.

fstranger3:

Adenuga is 597 with a net worth of 2 billa

How come there is no Ibo on that list


I guess, like Nigeria, Forbes is discriminating against Ndigbo.


I think the Nigerian consulate in NY should protest. Where is Dora Akunyili when we really need her


We must not stand for this injustice

fstranger3:

^^^

WHat about Adenuga


How come no Ibo man or woman on the list, yet they claim to own 90% of Lagos

You are beginning to sound and talk like an unbalanced, mentally deranged and unstable being.
Peace be to your troubled soul.

And whats d igbo dimension to dangote's wealth all about? I guess early morning e-tribal warfare agender. What a way to start a day, dnt tell me u are already having a frustrated filld up day while d day is just starting!

@ kalokalo: that was so informative and true.

Kalo kalo --- where have I maligned the man, Dangote is a monopolist -- if you don't know wht this means, then find out. Don't come here to spew rubbish.

How come an igbo man is not on the list ?

Very good question !!!

Let's look clinically at how Nigerian billionaires are made .

Dangote ; he was an ordinary cement and rice importer until 1987 when the head of state - ibrahim Babangida banned the importation of rice in the country and after several months he allowed Dangote to import ships loads of cement .

Ever since then Dangote has been an AGIP = any govt in power ,he was so close to abacha that his younger brother died with Abachas son in a plane crash. He was part of the people who bankrolled OBJ first term, second term , the aborted third term and yaraduas term.

OBJ rewarded him and Otedola with PH refineries at give away prices.

Mike Adenuga; he is not as rich as people think he is , he is a front man for IBB and Atiku. CIL which later metamorphosed to GLo was started with some wrongly sindicated Govt fund from PTDF running into some millions of dollars , which was ordered to be deposited in. TIB ( a failed south west bank) by Atiku , later the same money was syndicated to Glo as loan by TIB, the EFCC upon hearing this looked the other way and today TIB is a failed bank.

Ever wondered why the PHCN and refineries don't work in nigeria, then you might be in for the biggest shock of your lives.
The Nigerian Billionaires bought over all the downstream petroleum companies Con oil, MRS, AP, these companies to stay afloat must import fuel in to the country and for the fuel to sell people must use generators and for people to use generators then the PHCN must not work.

Questions I have Nigerians

1 how come during OBJ's reign no serious attempt was made to put PHCN into good operation despite the fact that the Bola Ige (who died mysteriously planned as far back as 2001 to put NEPA in shape.

2 how come the refineries never worked in OBJ's tenure instead the petrol pump price increased from 70k to =N= 55

3 how come all the overnite billionaires: Dangote, Otedola,Jimoh ibrahim,Adenuga made their billions during OBJ's tenure

Is someone still reading ?

If Dangote and Adenuga are on that list then IBB should also be included because they're all political billonaires.

obowunmi:

Kalo kalo --- where have I maligned the man, Dangote is a monopolist -- if you don't know wht this means, then find out. Don't come here to spew rubbish.

BTW kalokalo's very incisive piece and your one-line highly biased description of the mogul, NLders, I'm sure, would be in no doubt as to which more aptly qualifies as rubbish.

You are a slowpoke with no common sense. How is calling someone a monopolist biased ?

About time we celebrated true success borne out of the mind of confirmed geniuses, not some wuruwuru fake knockoffs from Alaba and Aba market. God bless Dangote from the North and Mike Adenuga from Ogun State. Very humble people. I just wish this country was made up of people from these two great groups mainly. I hate when some people arent pulling their weight in making Nigeria great. All some people do is tarnish Nigeria's image, with their Okija, yahoo, Tobechii Onwuara crappola.


[size=5pt]Nuff feather ruffling for today. Tomorrow is another day [/size]

Useless country. How can one man control all this industries? Simply because there are no antitrust laws. Dangote's connections with corrupt government officials helped him monopolize the market for rice and sugar, effectively eliminating the competition. Now you want me to credit that Dangote for what?

Princek12:

Useless country. How can one man control all this industries? Simply because there are no antitrust laws. Dangote's connections with corrupt government officials helped him monopolize the market for rice and sugar, effectively eliminating the competition. Now you want me to credit that Dangote for what?

For being smarter and more astute than all the Igbo businessman,woman, child, grandfather combined, dead or alive.

Nice

fstranger3:

For being smarter and more astute than all the Igbo businessman,woman, child, grandfather combined, dead or alive.

I guess all the Igbo businessmen you mentioned did not know how to kiss Babangida's arse like Dangote did.

Do u know I've stopped reading fstranger's posts? D guy sounds so childish and eidiotic while trying so hard to showcase d wit he lacks. what's this about an Igbo man being on d list? When u can't contribute positively to a thread, y not just read? Did Seun say u'll be banned if u don't post? u are so unreasonable!!!