Hi Peeps,

Saw this somewhere and decide to share with you for observation on the subject title




Check out the list below;

Aliko Dangote 1957
Mike Adenuga 1953
Tony Elumelu 1963
Tayo Adenirokun 1955
Fola Adeola 1954
Jimoh Ibrahim 1967
Erastus Akingbola 1951
Cosmas Maduka 1961
Wale Babalakin 1960
Femi Otedola 1967

What do they all have in common apart from being rich? Now look up again, yes you guessed right they were all born between 1950 and 1970. These are arguably some of Nigeria's billionaires. Some were born in the 50's whilst the others in the 60's. Between the oldest and the youngest is about14 years. Still within the same generation.

These guys all belong to a Golden Generation. A generation that it's maturity coincides with the formative stages of the modernization of the Nigerian Economy. The generation that was the obvious choice to have bought banking licenses just as the Babangida government deregulated the banking sector. The generation that obtained oil licenses by just being acquaintances with the government. The generation that were ready when the government decided to privatize its companies. The generations that will oversee the start of the economic revolution in Nigeria. The Generation that had a head start on those that will be born 10 to 20 years after it.

It's no curse to the 70's and mid 80's generation that they weren't born then. It's just that the world has a way of presenting opportunities at certain periods in a complete generation cycle (every century). It's not only peculiar to Nigeria alone. Even in the US the Bill Gates, Steve Jobs, Eric Schmitds, Jerry Chang, Bill Joy of this world were born in the 50's and 60's as well. Just in time for the PC revolution. Also in Russia, Roman Abrahamovic, Alisher Usmanov, Alexander Lebedev, were all born in the 50's. Just in time to be ready for the deregulation of the Russian economy after the fall of communism in Eastern Europe. A lot of psychologist have written on the impact of age, period, demographics and race on determining those who end up to be pioneers, captains of industry and financial heavy weights. It's purely debatable but can't be waived aside.

In Nigeria, if you were born the in the mid 70's, then by 2000 just at the advent of democracy you would have been out of school and probably an intern in bank , insurance company, a one man business or just a sole trader at best. The government of Obasanjo wasn't hiring that much and even if they did you stood little chance of getting as the generation just 10 years before you was more qualified, had better experience and probably even better education. And even if you wanted to own your own bank (the quickest way to being a billionaire in Nigeria) you couldnt as wave of opulence had blown passed. With just N50m in the you could own a bank in Nigeria in the 90's. It's N25b since 2006 or thereabouts. The barrier to entry between 90's and the 2000's for new commercial banks had never been so difficult. In fact, commercial banks grew from about 3 in 1980 to 33 in 1994, 11 times more. It was just 7 in 1985, so within 10 years it had more than quadrupled. It's less than or just over 20 now if we exclude the Nationalized Banks.




The Tony Elemelu's and Fola Adeola's of this world are no better than most of the guys born in the 70's. Them being successful entrepreneurs and probably billionaires didn't make them any smarter( not saying they aren't) or never before seen geniuses like those who came after them, they were simply lucky as the world around them at the time of their maturity was ready and prepared for them. These guys went to secondary schools when it was free to. Even if they had to pay, they had scholarship which protected them. They were encouraged to go abroad for post graduate education and guaranteed jobs on their return. They even ended up leading the political class far longer than their predecessors and have yet to give their generation after them a chance. The gap in privileges is endless. For them, they had no reason not to be billionaires.

The generation of the 70's and 80's need not worry too much about being billionaires. In fact there won't be many of them who will be billionaires before the age of 40 unless it is inherited or aided massively with corruption or 419. The world prepared for them to be employees of the generation before them and not entrepreneurs. They have worked harder than those before them, read more and have suffered more. They have even sacrificed more for Nigeria. But thats life, the just have to "chin up" as the say. They should focus on placing their offspring on the path to the next big economic revolution which must come to Nigeria in 10 to 15 years. I am no sooth sayer but life can be predictable if you can learn from history. It's already happening. Those born in the 90's are changing the way we listen to music and entertain ourselves , the way we communicate and the way we transact. They are not hindered by the conservatism and timidness of the 70's and 80's generation, impacted upon by their parents. They were not born in the 50's or 60's and certainly not born in 70's. They were born in the 90's and 2000's and they will be the next set of billionaires in Nigeria.






http://www.ugometrics.com/2011/09/you-may-never-be-billionaire-if-you.html?m=1

This's why u can nva bcome even a millionaire cos u spend tu much time reading tins dat dn't profit u.

U know what poster? i dont even want to be a billionnaire, i am a millionnaire and very comfortable .

This is d most gross abuse of statistics and statistical method dt I hav ever seen.

It's a willful and selfish misrepresentation of facts and statistical distribution solely to achieve a narrow and insensitive false result dt will make d writer sound intelligent.

Obvious disregard for virtually all statistical processes makes it easier to make a just condemnation of d entire fallacy than a painstaking attempt to start teaching statistics from scratch.

@OP
whether youn or the devil like it or not, A Billonaire in dollars i must become. When other kids were dreaming of becoming doctors, lawyers, bankers etc. My dream was to become the richest man in the history of the world. Even God is aware of it. Only time will tell.

Did i just see 1974 to 1984? I thought it was 1974 and beyond. Make i read the full article to understand the logic.

@OP:

You contradict yourself so much. You predicted an economic revolution in 10 - 15 years time and you think that those born between 1970 - 1984 would not be prepared or won't take advantage of it to be billionaires. You make me laugh!!!

Somebody born in 1980 for example would be 41 or 46years old in 10 - 15yrs time and by that time, he would most likely have his friends in government who would give out the huge contracts judging from the expected huge spendings on infrastructure in this period. Do you still think they wouldn't be billionaires?

Let me now ask you, when were these people born: D'banj, Tuface, Banky W, Mikel Obi and so many young Nigerians making waves in may professions at home and abroad?

Better go and think and reject this limitation you have placed on yourself!!!

Am sure Sergey Brin, Larry Page, Mark Zuckerberg etc fall within the age category of 1974 and beyond.

Ibime:

Am sure Sergey Brin, Larry Page, Mark Zuckerberg etc fall within the age category of 1974 and beyond.

Zuckerberg was born after 1984. I'm not sure about the google guys.

O boy, the OP may be right oo. The google guys were born in 1973. Why not 1974?

I didnt know Dbanj, Tuface e.t.c were now billionaires o! Article was about billionaires in Nigeria so Google guys and Facebbok boy are not in scope. Instead of binding and yabbing the writer of the article why dont you give us some points to negate his assertions.

People that willl become billionaires wont come on Nairaland to bind writers with fire or confess in Jesus name that they will bebnillionaires. Instead, they would be working on projects that will make them billionaires.

Armchair theory and abuse of stats.

I can see he carefully selected the date . Why stop in 1984? If not to exclude being flashed with Zuckerberg.

Well, I don't believe the theory.

homerac7:

This is d most gross abuse of statistics and statistical method dt I hav ever seen.

It's a willful and selfish misrepresentation of facts and statistical distribution solely to achieve a narrow and insensitive false result dt will make d writer sound intelligent.

Obvious disregard for virtually all statistical processes makes it easier to make a just condemnation of d entire fallacy than a painstaking attempt to start teaching statistics from scratch.

Ugo who genuinely appears to be interested in identifying data patterns and trends, judging by the content of  Ugometrics.com, will do well to ponder your observation here.

Guys should try to get a book called outliers, it will present the OP's point of view.

Thank God I was born in 1972, still hoping. Working towards my billions.

Abeg make una no yab me o, I only saw the article and copied it. Made an interesting read, if you dont like it you dont have to insult me.

Afterall, I can bet my knickers that 90% of those who read this article cant boast of a million naira in cash.

comprende:


Afterall, I can bet my knickers that 90% of those who read this article cant boast of a million naira in cash.

Hehehehe! Funny as hell. BTW what's your knicker worth?

On a second thought, this thing is looking like truth o
I have been racking my head to give an example, but still hasn't come with even a single person to negate the theory.

1974-1984? That's to name a Nigerian Billionaire between age 27-37.

I thought of saying, but Nigerians are hardly billionaires(even in Naira) at that age but I know Dangote was one by 1996(39 years), Adenuga by 1990(37 years), Wale Tinubu by 2001(34).

But the strongest point I ahve against this argument is that in actual fact, these guys were not billionaires at that age. They were just multi-millionaires. So there are a number of 1974-1984 born multi-millionaires that are unknown now who may hit real billions in their 40s to 50s. Dangote, Adenuga and many others were not household names when they were in their 30s.

^^^
Gbam