| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by bigpicture001: 8:01pm On May 12, 2018 |
Solstar:
I love the way you ended it. It is not a spiritual attack, it is a religious attack.
Nigerians spend all their time fasting and praying and forget to get creative, then they run around to find fast money in order to buy imported food, cream, phone and wrist-watches so they dont have to waste time being creative when they should be worshipping God. Now churches run 5 services on Sundays, and a midweek service on wednesdays, not forgetting tarry nights and vigils.
The mohammedans are not left out, they pray a fuccking 5 times a day, and are constantly checking their time to make sure they dont miss a date with Allahu, what remains of their time is spent separating quarrels between their 4 wives, the rest is spent reminding the kids of the need to go to the Alfas and Imams for tutelages.
So, what time do we have to plant tomatoes or engineer apples that can grow on our climate.
We are not poor because we are religious, we are poor as a country because we have found an excuse in God.
Yet money does not grow on trees. Dangote should have known better. He has been making serious business mistakes of late, one of which is building $18B Refinery when electric cars and solar panels are the future. I really question the true source of his wealth. How are his projects financed ? From which sources ? He pays back loans at the speed of light, well, almost. Just to create impression of 'source' ? It could be these politicians just financing him till his retirement and eventual demise. It could just be a ponzi that takes money from early mules and paying the new politicians. I envy the man, I truly do, but if I have access to such money, then I should be able to buy up Nigeria and put everyone on a universal basic income from what I can do with that money.
As it is with the tomato factories, so will it be with the refineries in the next 20 yrs. This is the new world order. ..i hardly find someone on this trend that reasons this clearly..ooh! my God!...how I luv u..thanks a lot man...I luv this write up 6 Likes |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by Mariangeles(f): 8:06pm On May 12, 2018 |
chukzyfcbb:
Bull shit, and more bull shits.
Dangote isn't the only person with a huge tomato factory in Nigeria. Most of y'all just swallowed the OPs story hook line and sinker.
Pls Google on Erisco TOMATO FACTORY. its as large as Dangotes factory , one of the biggest in Africa! located in oregun Ikeja.
He too has complained about the business, but his own complaints has been centred on lack of forex to maintain the plants and most importantly The flooding of Imported tonatos in the country.
How many people on Nairaland make stew with just pure tomatoes or pure tomato juice? Most of us use a blend of the two (Tin tomato and Fresh tomato) while others use Tin tomato.
The thing is TIN TOMATO is cheaper to import, if Dangite and erisco decides to turn this locally made Tomato into a Tomato juice, it would be more expensive and difficult to compete with the imported ones.
I see most comments here saying Dangote refused to carry out feasibility study before setting up the plants, loool
You guys think Dangote board of directors, is made up of nairalanders business wannabe.
#With a Ban on Imported tomato and an Improved business policy (Forex, loans rate), Dangote and Erisco tomato plant will show positivity
You want them to ban the importation of tomato paste so the local manufacturers can triple the price abi...? 'Cause that is exactly what's going to happen... 4 Likes |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by Nobody: 8:06pm On May 12, 2018 |
Opinionated:
By Aroms Aigbehi
Spain produces 850 000 mT of raw tomatoes yearly. That is 12% of total European production. That is a lot of tomatoes because the Europeans eat lots of tomatoes. Lots of Nigerians work in the tomato farms in Spain.
They have so much tomatoes in Spain that once a year the Spanish will come together and have a very big tomato fight on the street. They will come with truck loads of tomatoes and people can fight each other with it all day. It is tradition and nobody gets hurt. But when you go to Spain just make sure you stay away from the Bull Run. That one also happens every year but don’t mix them up.
In Nigeria, many brilliant people thought the problem of tomatoes shortage was there wasn’t enough processing power to process the tomatoes produced, and were left to rot. Mr. Aliko Dangote got that information too, so he thought why not build a mega tomato factory to process all that tomatoes?
But he thought lets have a plan B. Lets recruit more farmers to produce tomatoes in case the present capacity was not enough.
As it happened, when the factory was completed the tomatoes available in Nigeria could only run the factory for few weeks and there wasn’t enough tomatoes. The country produce too little. Where are all the tomatoes the Minister said were spoiling in Nigeria due to lack of processing power? Stories.
Now Mr. Dangote is stuck with his tomato processing factory and has called in the Italians to come and build and run a very big tomatoes farm in Nigeria so he can run the processing factory.
This is the problem when people believe in fables and live in a fictional reality.
Hmm. could it have been a spiritual attack on Dangote?
Source: http://www.opinions.ng/dangote-closed-tomato-factory/
Dangote knows nothing about being successful in the business sphere. He only became very wealthy in Nigeria because of Monopoly of cement n Sugar for very many years. 4 Likes |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by hkidola00(m): 8:06pm On May 12, 2018 |
Solstar:
I love the way you ended it. It is not a spiritual attack, it is a religious attack.
Nigerians spend all their time fasting and praying and forget to get creative, then they run around to find fast money in order to buy imported food, cream, phone and wrist-watches so they dont have to waste time being creative when they should be worshipping God. Now churches run 5 services on Sundays, and a midweek service on wednesdays, not forgetting tarry nights and vigils.
The mohammedans are not left out, they pray a fuccking 5 times a day, and are constantly checking their time to make sure they dont miss a date with Allahu, what remains of their time is spent separating quarrels between their 4 wives, the rest is spent reminding the kids of the need to go to the Alfas and Imams for tutelages.
So, what time do we have to plant tomatoes or engineer apples that can grow on our climate.
We are not poor because we are religious, we are poor as a country because we have found an excuse in God.
Yet money does not grow on trees. Dangote should have known better. He has been making serious business mistakes of late, one of which is building $18B Refinery when electric cars and solar panels are the future. I really question the true source of his wealth. How are his projects financed ? From which sources ? He pays back loans at the speed of light, well, almost. Just to create impression of 'source' ? It could be these politicians just financing him till his retirement and eventual demise. It could just be a ponzi that takes money from early mules and paying the new politicians. I envy the man, I truly do, but if I have access to such money, then I should be able to buy up Nigeria and put everyone on a universal basic income from what I can do with that money.
As it is with the tomato factories, so will it be with the refineries in the next 20 yrs. This is the new world order. something must be wrong with your brain |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by Nobody: 8:07pm On May 12, 2018 |
gentlegenius:
Very nice write up... But you've forgotten to mention that Dangote even declared interest in buying a football club like Arsenal FC... This shows lack of focus- the very reason why he's been making wrong business moves in recent times. That's yet another point. I didnt even remember that. 5 Likes |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by 400billionman: 8:08pm On May 12, 2018 |
Afam4eva:
Did he not do a feasibility study before venturing into a business with limited raw material?
As much as i respect Aliko Dangote, i think he's overrated as a business man because i can count how many businesses that he has failed at even as Nigeria's business man. bottomline is that it is the result that matters. He is a billionaire. Businessmen are prolific. Nobody who does only one business succeeds like Dangote. Solstar be like Dangote refinery is a mistake because of Electric cars so Dangote should get stuck in Cement production. And Solstar is asking where Dangote gets funding for an 18bn dollar refinery. It's all over the Internet World Bank CBN Commercial banks all placed their stakes but if you read Cletus Ibetos interview he said there is no business as profitable as Cement Manufacturing. That is where Dangote gets at least 50% funding for the Dangote refinery. Only losers make careers out of criticism. Mind you failure is part of business. |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by Nobody: 8:13pm On May 12, 2018 |
Truth234:
People like you never ceased to amaze me, imagine you based your conclusion of Dangote innovation on beer parlour discussions. One, the project is not $18 billion but estimated at $14 billion. Two, Dangote is building one of the biggest industrial sites in the world-- fertilizer plant, petrochemical plant, and refinery.
The petrochemical plant alone can produce 1.3 million metric tonnes of petrochemical products per year. The gas plant has the capacity to produce 3 million cubic metres of gas per annum and generate 12,000 mw of power, thrice what Nigeria is generating presently.
While the fertilizer plant will produce 2.8 million metric tonnes of assorted fertilizer. The refinery will produce 640,000 bpd of refined petroleum products. This project will create more than 200,000 jobs and deepen national growth. To give you an idea of how much this man will generate in revenue per annum, Nigeria is currently spending about N2.6 trillion on the importation of refined petroleum products per year, now add Ghana and other African countries that he will be exporting his product to. Now do 10 years financial projection, he would have made his investment capital for the whole project on just petroleum products even before western nations fully adopt electric car, talkless of African nations.
On Tomato factory, Dangote said with low dollar liquidity it is hard to source for forex to import raw materials needed to meet demand, hence, his resolve to follow his usual path, take over the entire industry by building all the value chain and logistic channels (raw materials, manufacturing, and supply chain).
Dangote is one of the world's most creative entrepreneurs, and for the record, his business strategies are being studied across the world. I just hope Nigerian youths will pay attention, learn and follow his blueprint. ITbomb, SOFTENGR, Afam4eva, Rainmania, CharlesJok3r, obembet, Olatara, Bishopsgate, ElFabchuks, lekkan, LegDoLand, abdullkabar, Pharaoh9, LordKO, Elegant154
Dangote doesn't know Jack bout how to manage businesses. 8 Likes 1 Share |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by Saintmary(f): 8:19pm On May 12, 2018 |
Afam4eva:
Did he not do a feasibility study before venturing into a business with limited raw material?
As much as i respect Aliko Dangote, i think he's overrated as a business man because i can count how many businesses that he has failed at even as Nigeria's business man. People plateau, after making the level of success commesurate to their initial drive and motivation, they get complacent. 3 Likes |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by Nobody: 8:22pm On May 12, 2018 |
hkidola00:
something must be wrong with your brain Sir, be nice to me. 4 Likes |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by stonemasonn: 8:23pm On May 12, 2018 |
Solstar:
I love the way you ended it. It is not a spiritual attack, it is a religious attack.
Nigerians spend all their time fasting and praying and forget to get creative, then they run around to find fast money in order to buy imported food, cream, phone and wrist-watches so they dont have to waste time being creative when they should be worshipping God. Now churches run 5 services on Sundays, and a midweek service on wednesdays, not forgetting tarry nights and vigils.
The mohammedans are not left out, they pray a fuccking 5 times a day, and are constantly checking their time to make sure they dont miss a date with Allahu, what remains of their time is spent separating quarrels between their 4 wives, the rest is spent reminding the kids of the need to go to the Alfas and Imams for tutelages.
So, what time do we have to plant tomatoes or engineer apples that can grow on our climate.
We are not poor because we are religious, we are poor as a country because we have found an excuse in God.
Yet money does not grow on trees. Dangote should have known better. He has been making serious business mistakes of late, one of which is building $18B Refinery when electric cars and solar panels are the future. I really question the true source of his wealth. How are his projects financed ? From which sources ? He pays back loans at the speed of light, well, almost. Just to create impression of 'source' ? It could be these politicians just financing him till his retirement and eventual demise. It could just be a ponzi that takes money from early mules and paying the new politicians. I envy the man, I truly do, but if I have access to such money, then I should be able to buy up Nigeria and put everyone on a universal basic income from what I can do with that money.
As it is with the tomato factories, so will it be with the refineries in the next 20 yrs. This is the new world order. Pms is not the only product you can get from the refinery and moreover it will still take at least 30 years for patrol and gas vehicles to totally disappear. By then Dangote would have made his return on investment. Don’t forget the fertilizer plant too. 1 Like |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by Nobody: 8:32pm On May 12, 2018 |
stonemasonn:
Pms is not the only product you can get from the refinery and moreover it will still take at least 30 years for patrol and gas vehicles to totally disappear. By then Dangote would have made his return on investment. Don’t forget the fertilizer plant too. Sir, I know how refineries work and also, the Feds have given licenses for modular refineries which are closer to the wells and blocs than Dangote's. Do you know what competition does to the value-chain ? The cost of delivery of the feed to Lekki either by piping or rail or trucks is what you havent factored in, coupled with the mushrooming of modular refineries and other turnkey petro-chemical plants that will flood the Niger Delta as modular refineries spring up. Let us not be biased, like I said I am just looking at the facts, and I have no time for sentiments. You do not put up $14b to $18b in technological investment just for RoIs over a 20yrs period. That is the most unwise business decision one can make if you factor in double digit inflation and interest rates. Guys, I am not here to start a war. And I am not saying my facts are sacrosanct. In fact, take me serious at your own peril. 5 Likes |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by giftiy(m): 8:32pm On May 12, 2018 |
CoolFreeday:
if this is true, then I'm going to add tomato to list of what to farm.
I dont know why Nigerians don't like farming though its very lucrative its a very technical vegetable |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by kazyhm(m): 8:32pm On May 12, 2018 |
Solstar:
I love the way you ended it. It is not a spiritual attack, it is a religious attack.
Nigerians spend all their time fasting and praying and forget to get creative, then they run around to find fast money in order to buy imported food, cream, phone and wrist-watches so they dont have to waste time being creative when they should be worshipping God. Now churches run 5 services on Sundays, and a midweek service on wednesdays, not forgetting tarry nights and vigils.
The mohammedans are not left out, they pray a fuccking 5 times a day, and are constantly checking their time to make sure they dont miss a date with Allahu, what remains of their time is spent separating quarrels between their 4 wives, the rest is spent reminding the kids of the need to go to the Alfas and Imams for tutelages.
So, what time do we have to plant tomatoes or engineer apples that can grow on our climate.
We are not poor because we are religious, we are poor as a country because we have found an excuse in God.
Yet money does not grow on trees. Dangote should have known better. He has been making serious business mistakes of late, one of which is building $18B Refinery when electric cars and solar panels are the future. I really question the true source of his wealth. How are his projects financed ? From which sources ? He pays back loans at the speed of light, well, almost. Just to create impression of 'source' ? It could be these politicians just financing him till his retirement and eventual demise. It could just be a ponzi that takes money from early mules and paying the new politicians. I envy the man, I truly do, but if I have access to such money, then I should be able to buy up Nigeria and put everyone on a universal basic income from what I can do with that money.
As it is with the tomato factories, so will it be with the refineries in the next 20 yrs. This is the new world order. |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by HarunaWest(m): 8:34pm On May 12, 2018 |
Solstar:
I love the way you ended it. It is not a spiritual attack, it is a religious attack.
Nigerians spend all their time fasting and praying and forget to get creative, then they run around to find fast money in order to buy imported food, cream, phone and wrist-watches so they dont have to waste time being creative when they should be worshipping God. Now churches run 5 services on Sundays, and a midweek service on wednesdays, not forgetting tarry nights and vigils.
The mohammedans are not left out, they pray a fuccking 5 times a day, and are constantly checking their time to make sure they dont miss a date with Allahu, what remains of their time is spent separating quarrels between their 4 wives, the rest is spent reminding the kids of the need to go to the Alfas and Imams for tutelages.
So, what time do we have to plant tomatoes or engineer apples that can grow on our climate.
We are not poor because we are religious, we are poor as a country because we have found an excuse in God.
Yet money does not grow on trees. Dangote should have known better. He has been making serious business mistakes of late, one of which is building $18B Refinery when electric cars and solar panels are the future. I really question the true source of his wealth. How are his projects financed ? From which sources ? He pays back loans at the speed of light, well, almost. Just to create impression of 'source' ? It could be these politicians just financing him till his retirement and eventual demise. It could just be a ponzi that takes money from early mules and paying the new politicians. I envy the man, I truly do, but if I have access to such money, then I should be able to buy up Nigeria and put everyone on a universal basic income from what I can do with that money.
As it is with the tomato factories, so will it be with the refineries in the next 20 yrs. This is the new world order. When i read texts like this.. Ave gat hope that not all Nigerian youths are lazy,, you remind me of the Nairaland of yesteryears, when the best brains were online. Kudos for this post. 5 Likes |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by daveP(m): 8:36pm On May 12, 2018 |
Inbetween, Trump made the Daura President to sign a deal under duress cos they have strong Intel that his hands are so dirty that even Ebora owu himself will clap.... Trump's attitude in the video depicts a master sidetracking the decisions of a subordinate that has been fished out.
"he loves helicopters.... " (claps and laughter)
Embarrassment of the highest order..... |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by gameboyo: 8:44pm On May 12, 2018 |
36STATES:
Dangote doesn't run a business where there is no monopoly and government helping hand.
Check all his business, they are out of the reach of anyone without government backing. I saw dangote as a business role model until I noticed the point you've just stated 1 Like |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by stonemasonn: 8:54pm On May 12, 2018 |
Solstar:
Sir,
I know how refineries work and also, the Feds have given licenses for modular refineries which are closer to the wells and blocs than Dangote's.
Do you know what competition does to the value-chain ? The cost of delivery of the feed to Lekki either by piping or rail or trucks is what you havent factored in, coupled with the mushrooming of modular refineries and other turnkey petro-chemical plants that will flood the Niger Delta as modular refineries spring up.
Let us not be biased, like I said I am just looking at the facts, and I have no time for sentiments. You do not put up $14b to $18b in technological investment just for RoIs over a 20yrs period. That is the most unwise business decision one can make if you factor in double digit inflation and interest rates.
Guys, I am not here to start a war. And I am not saying my facts are sacrosanct.
In fact, take me serious at your own peril. brotherly it’s not war, Dangote will make a kill if he’s able to kickoff his refinery to its maximum capacity as soon as possible. Believe me he’ll determine the price of petrol, diesel and other petrochemical products in Nigeria. Forget modular refinery, most of them will crash, the only close competition is the sales of Nigerian refineries to capable investors. Believe me, Nigeria and most African countries are not ready yet for electric cars, not even close. 2 Likes 1 Share |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by Olulinks(m): 8:55pm On May 12, 2018 |
Afam4eva:
Did he not do a feasibility study before venturing into a business with limited raw material?
As much as i respect Aliko Dangote, i think he's overrated as a business man because i can count how many businesses that he has failed at even as Nigeria's business man. Which one is more, the businesses he has failed in or the ones he has succeeded in? |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by Prestdude: 8:55pm On May 12, 2018 |
Solstar:
I love the way you ended it. It is not a spiritual attack, it is a religious attack.
Nigerians spend all their time fasting and praying and forget to get creative, then they run around to find fast money in order to buy imported food, cream, phone and wrist-watches so they dont have to waste time being creative when they should be worshipping God. Now churches run 5 services on Sundays, and a midweek service on wednesdays, not forgetting tarry nights and vigils.
The mohammedans are not left out, they pray a fuccking 5 times a day, and are constantly checking their time to make sure they dont miss a date with Allahu, what remains of their time is spent separating quarrels between their 4 wives, the rest is spent reminding the kids of the need to go to the Alfas and Imams for tutelages.
So, what time do we have to plant tomatoes or engineer apples that can grow on our climate.
We are not poor because we are religious, we are poor as a country because we have found an excuse in God.
Yet money does not grow on trees. Dangote should have known better. He has been making serious business mistakes of late, one of which is building $18B Refinery when electric cars and solar panels are the future. I really question the true source of his wealth. How are his projects financed ? From which sources ? He pays back loans at the speed of light, well, almost. Just to create impression of 'source' ? It could be these politicians just financing him till his retirement and eventual demise. It could just be a ponzi that takes money from early mules and paying the new politicians. I envy the man, I truly do, but if I have access to such money, then I should be able to buy up Nigeria and put everyone on a universal basic income from what I can do with that money.
As it is with the tomato factories, so will it be with the refineries in the next 20 yrs. This is the new world order. Love this comment! Think this is the best comment I've read on NL.. 2 Likes |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by gameboyo: 8:58pm On May 12, 2018 |
daywalker12911:
This post of for nursery school kids. You think a man like Dangote or any other man for that matter will set up a multi million dollar factory without doing proper due diligence.
Oga do a proper research and let us know  Sugar? Noodles? 2 Likes |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by DeLaRue: 9:03pm On May 12, 2018 |
Some of the points raised against Dangote are ridiculous.
1. Someone asked if he didn't do market research on tomato factory.
As if doing market research is a guarantee of success.
Most successful people have stories of failed investments to tell. Warren Buffet, one of the world's most successful investors loses billions in unsuccessful investments from time to time. There are no guarantees of success in business. The key is to make sure you get it right more often than you are wrong.
2. Another contributor questioned his decision to invest in a refinery.
First, the idea that electric vehicles use will overtake internal combustion vehicles in Nigeria within 20 yrs is ridiculous. Besides, Dangote will prob have recouped his investment within 12yrs.
Second, any modular refinery in the Niger Delta will have significantly smaller production capacity, which will likely make its unit production cost higher than Dangote's. Modular refineries are unlikely to constitute much competition to Dangote's monster refinery.
The Tomato factory is a mere $40 million. Peanuts to Mr Dangote. 1 Like |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by Evangkatsoulis: 9:12pm On May 12, 2018 |
Tokziby:
The guy lied too much. How can a business rely too much on hearsay without carrying out proper feasibility study.
I was opportuned to attend a lecture on Agribusiness where the CEO of Dangote tomato lectured. And he rightly pointed out that importation of tomato paste was killing their business. The imported tomato was a bit cheaper and they lack patronage from the Nigerian Market. And sachet tomato sweet pass fresh tomato. |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by chukzyfcbb: 9:17pm On May 12, 2018 |
Mariangeles:
You want them to ban the importation of tomato paste so the local manufacturers can triple the price abi...? 'Cause that is exactly what's going to happen... Unfortunately that's the only way they can thrive. Because they can never compete with imported tonates from China, never. cost of manufacturing in Nigeria is pretty. Which is why GOVT should help improve the cost of doing business, at least gradually in areas of FOREX and reduced LOAN rates. let them forget bout power, security roads and focus on these two first since they can't handle it all |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by obailala(m): 9:18pm On May 12, 2018 |
Solstar:
I love the way you ended it. It is not a spiritual attack, it is a religious attack.
Nigerians spend all their time fasting and praying and forget to get creative, then they run around to find fast money in order to buy imported food, cream, phone and wrist-watches so they dont have to waste time being creative when they should be worshipping God. Now churches run 5 services on Sundays, and a midweek service on wednesdays, not forgetting tarry nights and vigils.
The mohammedans are not left out, they pray a fuccking 5 times a day, and are constantly checking their time to make sure they dont miss a date with Allahu, what remains of their time is spent separating quarrels between their 4 wives, the rest is spent reminding the kids of the need to go to the Alfas and Imams for tutelages.
So, what time do we have to plant tomatoes or engineer apples that can grow on our climate.
We are not poor because we are religious, we are poor as a country because we have found an excuse in God.
Yet money does not grow on trees. Dangote should have known better. He has been making serious business mistakes of late, one of which is building $18B Refinery when electric cars and solar panels are the future. I really question the true source of his wealth. How are his projects financed ? From which sources ? He pays back loans at the speed of light, well, almost. Just to create impression of 'source' ? It could be these politicians just financing him till his retirement and eventual demise. It could just be a ponzi that takes money from early mules and paying the new politicians. I envy the man, I truly do, but if I have access to such money, then I should be able to buy up Nigeria and put everyone on a universal basic income from what I can do with that money.
As it is with the tomato factories, so will it be with the refineries in the next 20 yrs. This is the new world order. This is a very serious write-up, but I just love the humour in your narrative. Just to comment on the Dangote refinery though, I don't think I agree with you about that being a business mistake. Electric or solar vehicles may be the future, but that's still what they are, 'future'. Fossil fuels would still be very valid for even the next 40 - 50 years and Dangote would have long recovered the invested funds and paid off the loans. By the way regarding the financing, I think he took several local and international loans to raise most of the funds for the project. 3 Likes |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by Nobody: 9:19pm On May 12, 2018 |
I am not going to quote anyone so it does not look like a direct attack.
Readers, everyone writing here does not have access to the kind of information Aliko Dangote has. I am just laughing that solar panels and electric cars are the future of the world. Well, I may agree. The issue is: when is the future? And when will this present become obsolete? Start thinking. Do you have such info? If this present is becoming obsolete, yet, I know there are still billions dollars in it, wisdom is going say, do it. Why? The present is the bird in hand, while the future are the millions in the jungle. Have you heard the saying: "a bird in hand, worths more than millions in the jungle?
Marketing/branding is good. Readers, all those professors are marketers. If you had read how the US invested billions of dollars in solar energy researches from algea to make bio diesel in those years, you would have thought that diesel from crude is going extinct by now.
Do not get me wrong. Maybe Buhari is not too stupid because he is still searching for oil. Well, they also have access to information we do not. We just keep wondering, why is Dangote the richest? So, the man shouting panels and electric bla bla bla thinks a stupid man can occupy his seat? He is the present 46th most powerful man in the world ahead of Joe Biden, the vice president of the US.
Readers, I am not going to argue with anyone. Maybe you need to read about late apple CEO - Job. He created apple but lost his company. Maybe he was stupid when he lost it. Lol. And maybe he was "more and more" stupid when he returned to take over apple.
Stop writing on subjects you have no knowledge on thereby showing your stupidity, please.
Information is power. So, let us assume Dangote is stupid. All the many people working with him are also stupid? The one who gave him licence to build oil refinery is stupid too? Ok. BABA ijebu is stupid too to have built huge oil storage system in Ogun State? It was opened by the vice president recently.
When one is stupid, he is stupid. And a stupid fellow cannot understand the ways of the rich man. And so, a stupid man can never get to where a rich man is. Yet, the stupid man will always argue blindly why he thinks the rich man is stupid. Yet, the rich man can feed all his family. Is the stupid man not really "stupidly stupid"?
You do not have access to the kind of money Aliko has. You have no information like he has, yet you are bragging you will do "far more better" than him. A dey laugh. Without money, your idea will die. Premature death.... red card.
You don hear the saying: "Cash is King". You no get money, you dey fumble say you get idea. A dey laugh. You are stupid.
I want to stay where wisdom resides. I want to be a friend of wisdom. If you like go and create solar hyper digital whatever, i will invest only where rich men invest. Or you think it is a professor I will take his opinion? You are joking.
Dangote has his data. He is going to make billions of dollars from what he is doing. His refinery will make him far more richer. Nothing you dey write now will stop him from finishing that refinery.
They said he talked some things about Arsenal. Chai! See stupidity oooooo! When a king speaks, the world keep silent. So, you all think he does not know what he is doing? Whoever thought a Russian can own a british club? But Abrahamovich knows his thing. See, no dey talk when wisdom dey talk. Dangote has said it, at the right time, he will make his move. At the time he spoke, all he did was to show intetest. My view is that he knows that at a point, they may need more cash. Someone among the owners may want to sell out. Dangote was just saying: I am available. He does not want to run after the club. But he has positioned himself for any offer by opening his mouth to say I will buy Arsenal at the right time. Kings do not beg. They command.
And do you think Dangote will stop building more businesses after that refinery? Lol. Instead of you to find ways of hooking to money movers like Dangote and try to convince and make money come your way to build the future you are dreaming, you are criticising a billionaire.
Wisdom tells me not to criticise a billionaire who has been making money for over 2 decades. They said he is enjoying monopoly. Lol. But they do not realise he has been around, and about 5 presidents have come and gone. So, he has been enjoying monopoly from all of them only? Even he does, are there no other people who are lobbying like him? Don't you really think something is special about him?
The Dantatas helped him, but today, he is bigger than them. So, we think Dangote has time to think solar panel this, digital that, when he is having real figures on his desk. Some people are too funny.
Let me borrow you Biblical wisdom. While Abraham ran away because of farmine, his son Isaac stayed in the land. And he made his wealth during farmine. Why? He had information to certain things. His figures were different from what the so called experts were projecting. Panels ooo, solar ooooo, LED ooooo, "electronicology bombasticology, future-cology" oooooo, all na wash. Listen! Learn from a wealthy man how to make money.
Dangote na baba. He knows how to play his game with the presidents. If you call it monoply, I call it smartness or favor. Lol. So, others have not tried to monopolise too? Why is it that Dangote is the most favored? OBJ, Yaradua, and GEJ favored him. Even Buhari is doing same.
Y'all better sit down and learn wisdom. 8 Likes 2 Shares |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by obailala(m): 9:21pm On May 12, 2018 |
Pharaoh9:
I like this man,
I don't miss to watch his videos or read his posts What exactly is the issue with this dude posting people's pictures all over the place in unrelated topics? Do these girl(s) know you're posting their pictures around? |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by Lush100(m): 9:23pm On May 12, 2018 |
I'm a bit surprised.
they way the writer talks about business.
sir in business even when u do feasibility studies,
it may still go bad,
a new govt policy or regulation,
an alternative product which is not in the same substitute bracket (e.g nipost vs email),
a change in climate such as rainfall or drought,
external influence (imported vs local production).
change in taste or use.
business is still like giving ur best calculation a shot.
most true business men fail many times until they struck a successful one that stood well.
I have gone into business b4 so I know what I'm talking about.
almost all businessmen use the one that stood as a springboard to other business idea,
some fail, .
even Richard Brandson of Virgin Brand has his own share.
my opinion.
regards.
side point:
it's laughable that govt says its giving 2m to NTSC member for business,
meanwhile the ease of doing business in Nigeria is a "Jupiter task".
that money they intend giving can finish in 6months without any meaning full thing achieved |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by Pharaoh9(m): 9:26pm On May 12, 2018 |
obailala:
What exactly is the issue with this dude posting people's pictures all over the place in unrelated topics? Do these girl(s) know you're posting their pictures around? May I know you please |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by rmx1: 9:27pm On May 12, 2018 |
LordKO:
Small-mindedness is a very big disease globally. It's very easy for anyone who can easily gloss his/her ignorance with mastery of the queens language (or one's lingua franca subject to country of origin and stay) to turn to either a critic or motivational speaker. Articulate incompetents with handy mental parochial and feeble-minded supporters everywhere. SMH. See them casting aspersions on Dangote's personality/blueprints and celebrating the misinformation respectively.
For one, any player or stakeholder in the oil business knows that PMS refining constitues less than 25 percent of very many refinery products anywhere, Dangote's own inclusive. So, it smack of idiocy for anyone to erroneously and conclusively assert with boldness that because there's global "asumption" that electric cars are going to be the in-things in the foreseeable future automatically makes Dangote an unwise businessman. And the articulate incompetent of a writer that literally has no valuable productivity is automatically a wise one.
Manifestation of electric cars as the in-things in the foreseeable future can never have bad effect on Dangote's refinery. There's much to refinery than production of PMS. Let's all stop celebrating mediocrity.
About his tomato plant, the OP of that article is equally an articulate incompetent. The plant was originally set up more as an incentive/CSR/empowerment vehicle towards local tomato farmers - its temporary closure has nothing to do with poor feasibility studies on the company's part but has everything to do with local farmers/you jobless lots who failed to maximize the opportunity it present.
I agree with you and truth234 .Don’t know much about how his tomato business will turn out eventually but on the success of his refinery project it’s a no brainer it’s going to be a huge success like his cement business and before that his sugar refinery .very very high entry barriers and very few players and with the refinery maybe even a virtual monopoly ,don’t see much hope for the state refinery as they are now . Besides the project is more than a refinery , petrochemicals and fertilizer is inclusive Told a friend years back this project will double dangote networth in little time . Privatizing the current refineries might jeopardize that a bit and offer necessary competition 1 Like |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by Nobody: 9:33pm On May 12, 2018 |
obailala:
This is a very serious write-up, but I just love the humour in your narrative.
Just to comment on the Dangote refinery though, I don't think I agree with you about that being a business mistake. Electric or solar vehicles may be the future, but that's still what they are, 'future'. Fossil fuels would still be very valid for even the next 40 - 50 years and Dangote would have long recovered the invested funds and paid off the loans. By the way regarding the financing, I think he took several local and international loans to raise most of the funds for the project. I really have limited time to continue on these back and forth. But let me state that investing $14b to $18b in a refinery that is not near the wells in a country that has double digits inflation, double digits interest rate and an approval for Modular Refineries is not the best idea. How will he deliver the feed ? Piping ? (capital intensive, exposure to vandalism, expense on pipeline survellance), Trucking (bad idea), Rail transport (capital intensive). Modular refiners site their plants at the epicenters of the oil and Independent marketers drive in, load products and move to destination, this is a better business module. I dont know about you guys but there are better things to invest $14b to $18b into and get better RoIs. In fact, I think he is targeting other African countries with the investment, cos it is easier to ship the products abroad but he didnt evaluate the permanent cost associated with delivery of the feed from wells to his plant. 5 Likes |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by obailala(m): 9:35pm On May 12, 2018 |
Afam4eva:
Tell me who has wielded as much monopoly as Dangote has in the history of Nigeria?
The reason i'm calling his business acumen to question is that in every industry that he has delved into except cement and places where he had monopoly, he hasn't done well and has had to close down. Is it Dangote Spargetti, Indomie and the Telecoms company? Now the tomato company? Someone like Dangote, should, in the least do proper feasibility study before delving into any business. That's the baseline. A very important quality of typical businessmen globally is shrewdness and Dangote has a lot of that. In a bid to downplay Dangote's intelligence and acumen, people have always come up with this overflogged story that he's being favoured by government as a monopoly over others. But then, if he isn't really so smart, how come he's the only businessman that knows how to get favours from every single government; from Christian southerners to northern Muslims, including local and foreign lenders etc?... If Dangote isn't really as smart, how come the other smart businessmen can't manipulate themselves to curry favours from governments?.. How come this trick only works for Dangote irrespective of who's in power? 2 Likes 1 Share |
| Re: Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It by onegig(m): 9:38pm On May 12, 2018 |
LordKO:
Small-mindedness is a very big disease globally. It's very easy for anyone who can easily gloss his/her ignorance with mastery of the queens language (or one's lingua franca subject to country of origin and stay) to turn to either a critic or motivational speaker. Articulate incompetents with handy mental parochial and feeble-minded supporters everywhere. SMH. See them casting aspersions on Dangote's personality/blueprints and celebrating the misinformation respectively.
For one, any player or stakeholder in the oil business knows that PMS refining constitues less than 25 percent of very many refinery products anywhere, Dangote's own inclusive. So, it smack of idiocy for anyone to erroneously and conclusively assert with boldness that because there's global "asumption" that electric cars are going to be the in-things in the foreseeable future automatically makes Dangote an unwise businessman. And the articulate incompetent of a writer that literally has no valuable productivity is automatically a wise one.
Manifestation of electric cars as the in-things in the foreseeable future can never have bad effect on Dangote's refinery. There's much to refinery than production of PMS. Let's all stop celebrating mediocrity.
About his tomato plant, the OP of that article is equally an articulate incompetent. The plant was originally set up more as an incentive/CSR/empowerment vehicle towards local tomato farmers - its temporary closure has nothing to do with poor feasibility studies on the company's part but has everything to do with local farmers/you jobless lots who failed to maximize the opportunity it present.
Even his English seems like that of a JS1 student. Erroneous lies and misinformation is what he laid out. Can you imagine him saying the company didn't do projections. When even the common man on the street knows we waste hundreds of thousands tonnes of tomato yearly due to non existent preservation methods when there is a glut. The world has always been filled with ignorant people but instead of people to better their lives by reading wide they spout nonsense online and expouse their ignorance and thanks once again illiterate nairaland mods for pushing misinformation out to the world. Yours service is duly noted. 2 Likes |
