I can fault everything about him, but you've just gotta to bow for his commitment and work-rate.

BTW, in 1977, Peugeot 504 GR was less than N5,000.

And N500,000 was roughly $850,000 (worth about $4m today).

Can you start a successful business today (even in a more competitive world) with $4M Dollars? Yes.

hmmmmmm!

ednut1:
leave matter for Mathias he made it because he was born rich and remained rich, and play d political game with sense , 500k in 1977 nna ehn

and he paid the loan back in 3 months, I would like to know that business.

These people, the money is a lot more than 200 million today. To get a good estimate, you need to consider the exchange rates in 1977, comvert that 500k to dollars based on that exchange rates, consider the appreciation of dollars over the years then convert it to the equivalent in naira today. After all that, i think you will get a figure close to a billion naira, today.

Has dangote done something phenomenal? Yes and No!
He has hundreds of millions of naira as capital when most people his age could only dream of such amount.
He had the help of friends in power and may have benefited from a lot of manipulations of business laws especially importation laws.

However,

was he the only one who has ever had such capital out of the billions of people in africa? No

Was he the most influencial or cell connected person in africa? Was there no other person that had access to tha same influence or even more connected?

Is he the only man in africa to have been able to get up to 20 billion dollarz? YES YES YES. Give the man a break and respect him. Yes, in the same situation people like me would have made even mor, bur the fact it, at least a hundred other people must have had access to the same capital and influence but didnt use it judiciously.

My friends, just prepare and position yourself, open your eyes and be alert for big opportunities that might come around. Grab it, work hard at it and in 20 years the next generation will come on nairaland to argue how 'priviledged' you were. But then, you will be too busy living the dream to give a f!uck!!!

Dangote is a typical case of preparation meets opportunity.

Some people do prepare very well but opportunity never comes. Vice versa.

He prepared himself by learning to be a shrewd business man and also courting his billionaire uncle.

Opportunity called when millitary presidents gave him the sole license to import rice in the early 80s.

The rest became history with successive governments. They continued rewarding him with sole marketer, manufacturer and ownership of every thing. These government people looked the other way cos he was also a front for their stolen Nigerian money.

Whatever it is, Dangote's humility is more than worthy of emulation.

see frustration oo
Continue giving excuses

free2ryhme:



story story


story

99% lies

Oya,give us the the true gist or accept this and shurrup over there,evil belle,sadist

dcaliph:
and he paid the loan back in 3 months, I would like to know that business.

Reaaalllyyy?? But yet unable to pay up the loans he took from banks yet still appears on forbes list abi?

eagleeyez:




Reaaalllyyy?? But yet unable to pay up the loans he took from banks yet still appears on forbes list abi?

UNABLE or UNWILLING?
Whatever he owes is surely a fraction of what he has. Some businesses are best done with other peoples money. Poor people dont understand when debt is good, as long as u dont violate the terms and conditions of the bank loans.

ichidodo:
[b] Absolute rubbish......The only things Dangote had working for him was;
His Tribe:Nigeria in those days was a harsh place for businness men especially indigenous, the only pass to breakout of the mold was your close links with the military junta and in some cases your ability to speak fluent Hausa and worship in the very same mosque as the rulers can put you in good confidence with them and their policies.....
Ability to curry favour and maintain old contacts: Even after power, Dangote still kept tabbs with ex-rulers, furnishing and maintaining their needs outside power,yet you want to tell us he won't get the very goods ear of these Exes to the present Rulers?
His powerful uncle: When your uncle once was one of the richest men in the country during your breakout season,we don't see how doors won't open as against your very many competitors....
Doors??: When we mean doors, we meant ease of obtaining financial aid in phenomenal scale, safety of your businness intersest by those in power,having national policies revolve around your interests including shutting down those are a threat to your monopoly....
Democracy:If one had a thriving businness despite the general harsh,restrictive and widespread economic stagnation of the military Juntas we don't see how one shouldn't survive an avalanche of economic opportunities,liberties even the sheer scale of rehabilitation,reconstruction and re transformation afforded by Democracy.[/b]

Then let's say Dangote is the smartest and luckiest Nigerian who used his golden spoon and opportunities well. Who wouldn't? Let all those condemning him convince us that they would personally reject such rare opportunities were it presented before them. Some are obviously unhappy because of where he comes from, because of jealousy, envy or even hatred. One thing is certain: Dangote played by the rules that's why he was able to monopolize and knock out wuru-wuru and get rich quick businessmen.

OkunrinMeta:

UNABLE or UNWILLING?
Whatever he owes is surely a fraction of what he has. Some businesses are best done with other peoples money. Poor people dont understand when debt is good, as long as u dont violate the terms and conditions of the bank loans.

His name is amoongst those cbn is threatning to print
He has violated terms and conditions

Everfrank:

Then let's say Dangote is the smartest and luckiest Nigerian who used his golden spoon and opportunities well. Who wouldn't? Let all those condemning him convince us that they would personally reject such rare opportunities were it presented before them. Some are obviously unhappy because of where he comes from, because of jealousy, envy or even hatred. One thing is certain: Dangote played by the rules that's why he was able to monopolize and knock out wuru-wuru and get rich quick businessmen.

It is so easy to play by the rules, when the rules are constantly being bent to your favour.

emmykk:
poor people see rich people as stingy.

The book the richest man in Babylon say so

is a lie a stingy man is a selfish man who is on top bt do nt help ppl out of fear of Equality,4get wat u read in book

millionboi:
Even a stingy man knws he is stingy,4get wat u read in book

he has foundation where he give out money to the less privilege
If you think he work his money for you.u die well

emmykk:
he has foundation where he give out money to the less privilege
If you think he work his money for you.u die well

jst pray u dnt be inneed of somtin in position of a stingy man,som r even stingy 2demselvs nd wife