DexterousOne vs Iogobenz promises to be interesting and explosive. I'll seat back on this one.

DexterousOne:



WTH are you talking about


What you typed up there
Does it make any iota of sense to you?

ojesymsym:
Today, he does have a point about our worship of FDI, a situation where foreigners are able to singlehandedly determine the direction of our policy is dangerous. God forbid this period met us still totally dependent of Thailand for rice, the effects would have been very bad.

If the Nigerians cannot sit up and build their own businesses up to par, whose fault is this?

When we did the "Indigenisation policy" and we drove the foreigners out

What we did was to hand over businesses to cronies who had no idea on how to run it , nor the discipline to run it

Thirty years after, most of those businesses were already under, while their parent company abroad was still waxing stronger

The same play was made in Uganda when Idi Amin chased those Asian business people out, and black (let me resist the urge to use that word I want to use) people took over, Uganda became a shithole immediately and most of the businesses failed

You see my point?

It's not about crying about FDIs
We need to condition our mentality to be productivity based, and legacy based, not seeing the business as a cash cow to live big and carry women

ojesymsym:
DexterousOne vs Iogobenz promises to be interesting and explosive. I'll seat back on this one.

Not sure I'll engage him as much
I'm just going through the backlog of messages

And replying accordingly

Wrt foreign investments, one thing I like is that they force our businesses to evolve. Nigeria has a way to go commercially and industrially. At times I feel our capability in those areas is getting worse.

Kingsway stores, UTC stores and Leventis stores were foreign owned Businesses with Branches all over the country before they became Nigerian owned Businesses due to Obasanjo indigenization policy of 1976.

Where is Kingsway, Leventis and UTC, they have now been converted to Churches and warehouses

emmanuelewumi:
Kingsway stores, UTC stores and Leventis stores were foreign owned Businesses with Branches all over the country before they became Nigerian owned Businesses due to Obasanjo indigenization policy of 1976.

Where is Kingsway, Leventis and UTC, they have now been converted to Churches and warehouses

Precisely the point I am making
Hand over to Africans
More often than not
The business dies


We dont have the business culture in this part of the world
Our people are slaves to enjoyment

How this society got hooked to this poverty mentality is what I do not understand at all

I will be participating in the tommorow revolution now protests in Abuja ....against insecurity,nepotism,high inflation,corruption,fgn jobs racketeering,poor goverance by buhari lead federal govt .....meeting point unity fountain Abuja.......

ahiboilandgas:
I will be participating in the tommorow revolution now protests in Abuja ....against insecurity,nepotism,high inflation,corruption,fgn jobs racketeering,poor goverance by buhari lead federal govt .....meeting point unity fountain Abuja.......

Oga mi, no waste ur time

maishai:



Oga mi, no waste ur time

why ? Are we conquered people

If we don't waste few minutes/hours to protest for our right and good governance, we will waste our entire future in misery.

maishai:



Oga mi, no waste ur time

Donbrig:
If we don't waste few minutes/hours to protest for our right and good governance, we will waste our entire future in misery.

thanks u can participate online too via sending a veodeo of protests........americans are protesting,brits are protesting,yellow vest are protesting .....Nigerians are praying and watching big brother Nigeria ....while hosting over 100m people counting ...

I am not too comfortable when people say Nigerians cannot thrive to sustain a business for several generations. Nigeria is gonna be 60yrs old in two months time. How many private businesses or companies did we have in Nigeria before and after independence that didn't survive till date? I know Nigerians are not the most disciplined folks on earth, especially when it comes to money and business, but we must also understand that there are small scale businesses that have succeeded several generations, these businesses might not be popular enough to know they had existed successfully for decades.

Before and after our independence, farming was the major business in Nigeria, I bet that there are still successful farmlands all across Nigeria that have survived for decades from one generation to another. My family is still farming on the same acres of lands my great-great-grandfather farmed on.

Now that Nigeria is learning things the hardest way, and about to enter industrial era with indigenous entrepreneurs, as from the year 2060, we could judge Nigerians ability to sustain businesses for generations.

Donbrig:
I am not too comfortable when people say Nigerians cannot thrive to sustain a business for several generations. Nigeria is gonna be 60yrs old in two months time. How many private businesses or companies did we have in Nigeria before and after independence that didn't survive till date? I know Nigerians are not the most disciplined folks on earth, especially when it comes to money and business, but we must also understand that there are small scale businesses that have succeeded several generations, these businesses might not be popular enough to know they had existed successfully for decades.

Before and after our independence, farming was the major business in Nigeria, I bet that there are still successful farmlands all across Nigeria that have survived for decades from one generation to another. My family is still farming on the same acres of lands my great-great-grandfather farmed on.

Now that Nigeria is learning things the hardest way, and about to enter industrial era with indigenous entrepreneurs, as from the year 2060, we could judge Nigerians ability to sustain businesses for generations.

Read " The making and makers of Nigerian private enterprise" by Tom Forrest.


There are Nigerian owned Businesses as far back as 1930.

I will send a summary of some of Businesses to you tomorrow by God's grace, most of the Businesses are now dead.

Mainwhile some Indian and Lebanese owned Businesses that started around that time are still existing and bigger

What then can we do differently? Most business owners send their kids to school to become regular professionals and usually don't groom them in their businesses.

emmanuelewumi:




Read " The making and makers of Nigerian private enterprise" by Tom Forrest.


There are Nigerian owned Businesses as far back as 1930.

I will send a summary of some of Businesses to you tomorrow by God's grace, most of the Businesses are now dead.

Mainwhile some Indian and Lebanese owned Businesses that started around that time are still existing and bigger

ahiboilandgas:
thanks u can participate online too via sending a veodeo of protests........americans are protesting,brits are protesting,yellow vest are protesting .....Nigerians are praying and watching big brother Nigeria ....while hosting over 100m people counting ...

Lol...Everything in Nigeria is Connection, including Hatred... Somebody will just hate you through Somebody, even without any reason.

ahiboilandgas:
I will be participating in the tommorow revolution now protests in Abuja ....against insecurity,nepotism,high inflation,corruption,fgn jobs racketeering,poor goverance by buhari lead federal govt .....meeting point unity fountain Abuja.......

Hope you have a clear map of the area in case in turns violent; you have a clear mission but some among you will be definitely hired to cause violence and the security agents will just be shooting teargas anyhow. Make sure you have the medical and physical fitness before joining any protest.

ojesymsym:
What then can we do differently? Most business owners send their kids to school to become regular professionals and usually don't groom them in their businesses.

If your business is built with proper structure

It will survive with or without your kids running it

Many of the businesses in Eurppe that survived centuries

The descendants of their founders are not running the business but shareholders in it

The structure is key

That's why I'm always in favour of listing companies when they get to a certain size

That way the legacy can keep going

Donbrig:
If we don't waste few minutes/hours to protest for our right and good governance, we will waste our entire future in misery.

Well said

ahiboilandgas:
I will be participating in the tommorow revolution now protests in Abuja ....against insecurity,nepotism,high inflation,corruption,fgn jobs racketeering,poor goverance by buhari lead federal govt .....meeting point unity fountain Abuja.......

.

Ahibo,are you serious? Respect ,Mon. Maximum respect.
I am actually at work but I have been thinking of taking a picture of me wearing a revolution now shirt.
Nigeria breaks my heart every day. The hardship is unbearable.

Donbrig:
I am not too comfortable when people say Nigerians cannot thrive to sustain a business for several generations. Nigeria is gonna be 60yrs old in two months time. How many private businesses or companies did we have in Nigeria before and after independence that didn't survive till date? I know Nigerians are not the most disciplined folks on earth, especially when it comes to money and business, but we must also understand that there are small scale businesses that have succeeded several generations, these businesses might not be popular enough to know they had existed successfully for decades.

Before and after our independence, farming was the major business in Nigeria, I bet that there are still successful farmlands all across Nigeria that have survived for decades from one generation to another. My family is still farming on the same acres of lands my great-great-grandfather farmed on.

Now that Nigeria is learning things the hardest way, and about to enter industrial era with indigenous entrepreneurs, as from the year 2060, we could judge Nigerians ability to sustain businesses for generations.

What I said is the truth
And its based on empirical facts (based on the so many businesses that have failed once they were handed over to Nigerians to run)

The fact on the ground does not care about how we feel.
It is what is

Look at the lifestyle of a typical entrepreneur in Nigeria

That speaks volumes

They are many successful family business in Europe and Asia, not all of them are listed or want to be listed.

DexterousOne:


If your business is built with proper structure

It will survive with or without your kids running it

Many of the businesses in Eurppe that survived centuries

The descendants of their founders are not running the business but shareholders in it

The structure is key

That's why I'm always in favour of listing companies when they get to a certain size

That way the legacy can keep going

ojesymsym:
They are many successful family business in Europe and Asia, not all of them are listed or want to be listed.

Based on what I know
The biggest family businesses in Europe do not have their descendants ACTIVELY running it
Yes there are some who still have family members ACTIVELY running it

But for many

They just structures the business such that they own the shares (well majority of it) and sell the rest to the public


Key word
ACTIVELY RUNNING IT

ojesymsym:
They are many successful family business in Europe and Asia, not all of them are listed or want to be listed.

Looking at dangote group for example
Do you think all his family members will be actively running the business three generations from today?

They have built the structure such that the business can run WITH or WITHOUT them

That's the key

Goldman Sachs started as family business
Are the descendants of Goldman or Sachs actively running the behemoth today?

The answer is NO
But their legacy lives on
And its growing leaps and bounds

ojesymsym:
What then can we do differently? Most business owners send their kids to school to become regular professionals and usually don't groom them in their businesses.

That was their undoing. The old richmen and businemen were not educated, they gave their children the best education in Europe and United States and their children became judges, lawyers, Professors, doctors, Engineers, civil servants and diplomats. The education was not to enable the children grow the business unlike their Indian and Lebanese counterparts

As far back as 1927 Dangotes grand father was the biggest customer of British Bank of West Africa, which later metamorphosed to First Bank of Nigeria

Which leads me to believe they secretly envied those professionals despite being richer than them.

emmanuelewumi:


That was their undoing. The old richmen and businemen were not educated, they gave their children the best education in Europe and United States and their children became judges, lawyers, Professors, doctors, Engineers, civil servants and diplomats. The education was not to enable the children grow the business unlike their Indian and Lebanese counterparts

DexterousOne:


Looking at danger group for example
Do you think all his family members will be actively running the business three generations from today?

They have built the structure such that the business can run WITH or WITHOUT them

That's the key

Goldman Sachs started as family business
Are the descendants of Goldman or Sachs actively running the behemoth today?

The answer is NO
But their legacy lives on
And its growing leaps and bounds

Same with Nestle, Cadbury, Unilever, PZ etc.

ojesymsym:
Which leads me to believe they secretly envied those professionals despite being richer than them.

Inferiority complex.


They felt business or trading was demeaning.

missjekyll:
.

Ahibo,are you serious? Respect ,Mon. Maximum respect.
I am actually at work but I have been thinking of taking a picture of me wearing a revolution now shirt.
Nigeria breaks my heart every day. The hardship is unbearable.

very serious......i attended the Lagos one by stadium but crowd not much....am am on ground in Abuja am here tomorrow 8 am.....

emmanuelewumi:


That was their undoing. The old richmen and businemen were not educated, they gave their children the best education in Europe and United States and their children became judges, lawyers, Professors, doctors, Engineers, civil servants and diplomats. The education was not to enable the children grow the business unlike their Indian and Lebanese counterparts

If the business was structured in such a way that each child had a share in it

Like shareholdings

They could keep the company going
By appointing managers who will run the business

And they vote out any incompetent management


Our small mindedness and the insistence to do things in a certain way contributed to no small measure to the death of these companies

Sholapey:
Lol...Everything in Nigeria is Connection, including Hatred... Somebody will just hate you through Somebody, even without any reason.

This cracked me up

DexterousOne:


If your business is built with proper structure

It will survive with or without your kids running it

Many of the businesses in Eurppe that survived centuries

The descendants of their founders are not running the business but shareholders in it

The structure is key

That's why I'm always in favour of listing companies when they get to a certain size

That way the legacy can keep going

Structure won't come in immediately. Most started as a one man family business, in most cases it is the children who usually take the business to the next level based on their education in business schools