asorocker:

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 ?

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?

Princek12:

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

kalokalo:


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

omo9ja1:

well I know Dangote might do some padi padi to make money, he was not a selfish millionaire that stole our money take it oversea while the poor Masses suffer, he invest most his money into Nigeria, gave people jobs and so on, if every Nigeria big thieves will emulate this patten there will be more jobs to the poor Masses

Dangote weldone!

fstranger3:


I see. Only an incompetent,deluded, unaccomplished jealous businessman/ethnic group blames his tool.


You sure know how to blame other people for your stupidity. Yoruba this, Hausa that, when will Ndigbo ever assume responsibility for their failure. To each his own!

lucenzo:

fststranger is so childish and ignorant can never contribute anything good

D-sense:

I'm richer anyway.

lucenzo:

@fstranger and co.guys you don't do yourself any good by attacking a particular tribe or region any time there is thread .Truth is, when you see sometin u're not sure of, as a modern day person with the internet, all u need do is to investigate and if u discover sometin wrong u make a correction and insulting the person's tribe or region because not all of them reason the way the person reasons okay! don,t your first president was an igbo man with the likes o chinua achebe, jay jay okocha,daniel amokachi, kanu nwankwo,dora akunyili,humprey nwosu,ezekwesilie and even Ojukwu .Yes he fought for a cause

fstranger3:


I laugh in Alaigbo

PROUD-IGBO:

I can just picture you jumping up and down like a mountain goat in heat,excited that an Igbo man is not on "the list". As if it adds any value to your existence. Sad git.

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

@ kalokalo , did you really post that, me I no really yap Dangote ooo. Do some research and not just write what is on the surface bro,

Anyone who thinks Dangote has not benefited 99.5% from monopolistic policies must be kidding or some sort.

I had my bro working @ Customs and Excise a few years back and he used to sigh, cos there was instruction 4rm the Presidency that Dangote should not pay import duty on all his business imports for a very long period of time. Abacha instructed and it went on for a long time,

This is just one of the very many Dangote has benefited from,, we also have the stock exchange saga of price irregularities at the xpexpencef Ndidi Okere bigging up your share price while she gains at the end, We are all not Blind you know,

Yes he has achieved some greatness but not without the help of the Government, Trust me on this, He his a BIG Fish no one can take on like Microsoft a few years back,

Bill Gates and Warren Buffet the Top rich guys of the world are giving back to Africa in Millions /Billion helping us to solve our very own problem Malaria,

I hope Dangote is doing his own bit,  No point gaining the world and all around you is dying,

Goodluck to him and congrats as well.

The Forbes List  though is highly influenced as well anyway, not really a White paper yard stick to measure wealth.

lucenzo:

@fstranger  the fact that i said something in defence  of the igbos doesn't mean i am one. i am from sw OKAY .this is the kind of nigeria we are talking of.A nigeria were someone can say the truth irrespective of tribe or religion and show respect for someones  tribe and religion.i pity your parents cos they think they have child not knowing they gave birth to a he goat, a dummy dumbdumb,  a dondy, niconpoop, scalyone, agbero, nonentity, barger, born by mistake, introvert,,fool and above all a nuisance to the society and large. oops i forgot that we are in lent .

d bigrod:

aliko dangote is richer than roman abromovich
http://www.forbes.com/wealth/billionaires#p_6_s_arank_-1__-1

revomind:

Ignore fstranger please.

fstranger3:


I laugh in Alaigbo

fstranger3:

IBos?

Maybe

I heard Obama is Ibo tooo

lucenzo:

@fstranger u don't surprise me ooooo.do i need to write like i'm writin a  formal letter check your Nl rules and reg, u can write as informally as u wish DUMMY. u are here crying for dangote  like he's your dad or uncle, FOOL. why don't we talk about your parents if they are worth a kobo .no! kobo is much why don't we say a cent u BLOODY not-so-smart person