| Seun (m) |
Alhaji Aliko Dangote's name ( Newswatch profile) pops up whenever people are talking about successful Nigerian businessmen. But what really do we know about him? Do you know one thing or the other about this man who is simply known as ' Dangote? You can share your knowledge here. I'll go first. - His full name is Alhaji Aliko Dangote. - He is the CEO of the Dangote Group. - He was born in Kano to Mohammed Dangote and Hajiya Mariya Sanusi Dantata. - He started trading in the 1978 with a loan from his uncle Sanusi Dantata, at age 21. - His interest in trading started when he was 8 years old, despite being born in a rich family. Aliko Dangote Quotes"I can remember when I was in primary school, I would go and buy cartons of sweets and I would start selling them just to make money. I was so much interested in business. Even at that time, I was very used to buying and selling. It is in my mind all through. I did that on a part-time basis. I usually bought packets of sweets and gave some people to sell for me. I would join them whenever I closed from school. I would collect my profit and give them something out of it. And we continued like that, "The family had many servants. So, some of them were selling things. I would say, 'Please, sell these for me' and he would sell and render accounts afterwards. That was what I was doing. It was not as if I established shops." "If you give me today $5 billion, I will not invest any abroad, I will invest everything here in Nigeria. Let us put heads together and work." "{ Nigerians} can even be bigger than Aliko Dangote. The whole thing is that you have to really be very determined. You have to believe that, yes, there’s a future in this country of ours and I can tell you right now, I don’t believe we have even started doing anything in Nigeria because the opportunities are so enormous. I don’t even know where to start from." ( source). The man: You know, I think I like him already! So what do you know about Alhaji Aliko Dangote? | |
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| Seun (m) |
An anonymous commenter wrote:
"This man is the hope of Nigeria. He is the giant of Nigeria. He is an inspiration to the younger ones, You are my role model." | |
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| chimanu2000 (m) |
He's someone to emulate. Forget all the gist about dirty money; if he's made so much dirty money and made it into the empire that he has today then there's something for us all to learn. | |
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| demmy (m) |
Forget all the gist about dirty money; if he's made so much dirty money and made it into the empire that he has today then there's something for us all to learn. I don't know whether he made it from dirty money, but if he did I'm against forgeting it. It is only in Nigeria we allow the end to justify the means. I'm against that. But I think Dangote made his money from legitimate sources: his trailers and the cement company (though not sure). | |
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| mosiate (f) |
I know he's a very rich man (one of the richest men in Nigeria), a hausa man by tribe, a muslim and so on and so forth. | |
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| bunmijoseph (f) |
I like the guy. If anyone has his number he should please let me have it. Thanks. | |
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| Ka |
There are businessmen who rely primarily on their creativity and management skills to build successful businesses, and there are businessmen who rely on contacts and special privileges bestowed on them by friends in high places. I respect the former, but I believe that Dangote is more of the latter. I doubt he would fare as well if he was exposed to fierce competition. | |
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| Seun (m) |
there are businessmen who rely on contacts and special privileges bestowed on them by friends in high places. This is also known as Public Relations! | |
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| Ka |
Seun,
The point I was making is that Dangote relies primarily on his connections for his business to do well. For me, this isn't the hallmark of a good businessman. I would have much more respect for him if he innovated in his business, i.e. he introduced new ways of supplying or producing goods that lowered the cost or delivered extra satisfaction to the consumer.
As far as I can tell, this is not the case, and I'm sure that if an innovative businessman came into Dangote's area of industry, he would be in real trouble. I remember that nearly two years ago the government granted his cement companies special privileges so that he could do well - if he was so good a businessman, why should he rely on these privileges? | |
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| Kukura on the Move (m) |
Seun,
The point I was making is that Dangote relies primarily on his connections for his business to do well. For me, this isn't the hallmark of a good businessman. I would have much more respect for him if he innovated in his business, I.e. he introduced new ways of supplying or producing goods that lowered the cost or delivered extra satisfaction to the consumer.
As far as I can tell, this is not the case, and I'm sure that if an innovative businessman came into Dangote's area of industry, he would be in real trouble. I remember that nearly two years ago the government granted his cement companies special privileges so that he could do well - if he was so good a businessman, why should he rely on these privileges?
Thanks KA. The chap is a shrewd businessman, no doubt about it, but can he survive on his own without those priveleges and all that? Unconfirmed rumours goes so far as to say that himself and the others involved in long distance haulage and human traffic are the major, and indeed, the primary reason why our railways will never work as long as they are there. Please let's not start praising the ones who have benefited from the cesspool that Nigeria is today. You want to know what can happen in this country interms of potential? See what has happened to the telecoms industry? Imagine what can happen if we have refrigerated freight trains that can convey agric products to other markets? In terms of cost? Think seriously! We have limestone deposits in virtually all parts of the country, yet this chap was in charge of the biggest operation that was importing cement into the country. All they ever did is to frustrate commendable govt policies that went against their short term selfish interests! Please pick an industrialist or farmer and commend him or her; not parasites.    | |
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| obong (m) |
There are businessmen who rely primarily on their creativity and management skills to build successful businesses, and there are businessmen who rely on contacts and special privileges bestowed on them by friends in high places. I respect the former, but I believe that Dangote is more of the latter. I doubt he would fare as well if he was exposed to fierce competition.
You think Ricahrd Branson isnt bribing his way to make his billions? You think President Bush and Cheney didnt bribe thier way through Halliburton? I'm not saying its an ideal situation, but without realistically knowing how business works at this level, we decieve ourselves into thinking corruption is purely a Nigerian phenomenon. The fact is Dangote has invest heavily in the country, something the Chinese, Indians, Malaysians, etc have done in thier countries despite dealing in dirty money. Ultimately that's a model to follow. The US has been built by a multitude of business people that had suspicious relationships with the government, | |
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| Ka |
You think Ricahrd Branson isnt bribing his way to make his billions? You think President Bush and Cheney didnt bribe thier way through Halliburton? This is all unsubstantiated. I'm not saying its an ideal situation, but without realistically knowing how business works at this level, we decieve ourselves into thinking corruption is purely a nigerian phenomenon. I wasn't talking about corruption - I was making the point that Dangote is not an innovative businessman - simple. I can understand that it is necessary for a businessman to cultivate contacts or bribe officials in order to carry on his business, but it seems that someone like Dangote relies too heavily on his contacts to make his business succeed. The fact is Dangote has invest heavily in the country, something the chinese, indians, malaysians, etc have done in thier countries despite dealing in dirty money. Ultimately thats a model to follow. Yes, I'm prepared to concede that it is better for him to invest his money in Nigeria rather than spiriting it abroad and stashing it in foreign accounts. | |
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| obong (m) |
I dont think any dirty on the part of dangote is substantiated either. I'm not sure what you mean by lacking innovation. He's not running microsoft, i agree, but you can run an old world company and still be innovative. I'm not sure if he would be this big if he wasnt innovative | |
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| Kukura on the Move (m) |
What real value has he brought to the real sector of the economy? Not just employing people as any biz can employ people? PLs tell me Obong? Lets look at the bigger picture, ok?!!!!!!!!
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| obong (m) |
Not just employing people? That what business is for. Have you heard the americans cry as thier factories move out of the coutry and whole towns become poor. Trust me, creating jobs is greta value. And i bet you companies that buy his sugar and cement are happy the dont have to import them. I think he needs more competition though so he is forced to give better prices | |
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| Kukura on the Move (m) |
Have you done a survey of Nigeria resource base? Agric and minerals? You would be shocked! That's my contention. If the resources are tapped, he would employ far more people than he is now! Please lets be honest with ourselves... the big picture ... please! | |
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| obong (m) |
Oga, nigeria can do better, yes i agree. but one man isnt going to employ everyone in the country. He should be congratulated and other people not doing the same should be scolded. we need more peopel doing what he is doing. The mineral resources in nigeria are not its most valuable resources anyway. Nigeria's wealth is its people | |
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| CorporateNija (m) |
Hmm, Aliko Dangote, he really is a mystery.
Suffice it to say that business in Nigeria (just as in all other countries) requires a business man to have as much contacts as he can. What do you guys think the functions are of the lobby groups in America? Simply to influence the political class to make the business environment conducive for their business interest.
A business man without contact.. hmm. | |
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| kodewrita |
The earliest mention of him that i got was from my mother who told me Dangote and Dantata once held the monopoly of importing cement, sugar , rice , textiles and other products during the reign of Shagari. We all know how the useless imports depleted our exchange and led to the current morass we are currently in.
In the spirit of reconciliation, we should forget all that as long as they create jobs and help us reclaim what they caused us to lose thru their actions. | |
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| Ka |
For those who think Dangote is such a wonderful businessman, take a look at this from the Financial Standard. How can someone be called a good businessman if they cannot deliver value to the consumer in the form of lower prices? It's not just enough to provide jobs - heck, even criminals do that. The Association of Master Bakers and Caterers of Nigeria have blamed the hike in the price of bread on sugar, one of the major components in bread baking, for the domination of sugar market by Dangote Group of Companies.
The association said if keen competition were allowed in the sugar market, there would not be an arbitrary increase in the price of sugar.
The scarcity of sugar and the hike in the prices of other major raw materials for bread making have been adduced by the master bakers for their recent 50 per cent increase in the price of bread.
They said only an enabling environment, which would bring down the cost of sugar and other baking materials, would put a stop to the 50 per cent hike in the price of bread.
If this directive were implemented as directed by the association in Lagos last week, a standard loaf of bread would increase from N130 to N195. It was learnt that the price hike might not be effective in Lagos State due to the non-cooperation of bakers in the state.
Mr. Sani Abubakar, corporate affairs officer of Dangote Group, believed to be the only importer of raw sugar, said the scarcity is caused by the temporary closure of Dangote sugar refining plant in Lagos. He equally blamed distributors of the product for the price hike. Abubakar said some of the distributors who bulk- purchased sugar before the closure of the refining plant were behind the artificial scarcity. He argued that if the scarcity was genuine as portrayed by the master bakers, major bottlers of soft drinks (who also buy from the company) would have been the first to cry out. The corporate affairs manager said those calling for a liberalised sugar import market are looking for an escape route to import low quality sugar. The federal government placed a ban on import of refined sugar into the country.
But the association wants the government to lift the ban to enable bakers have access to sugar at affordable prices.
Chief Bayo Folarin, national president of the association who directed all zonal, state and local chapters of the association to mobilise members to implement the directive on new bread price, said this was the only way to protect the baking industry from economic strangulation.
He enjoined the federal government to revive the local sugar industry to augment the quantity of sugar being imported into the country.
Folarin said there has been a steady rise in the price of flour, sugar and other major materials since February. A 50kg bag of sugar, which formerly sold for N3, 000 has risen by about 200 per cent to N9, 000 while 50kg of flour rose by about 50 per cent from N2,890 to N3,300. Folarin said it was possible that the prices could increase further. A carton of yeast also rose from N4, 300 to N6, 500. A 16kg carton of bakery fat increased by 0.68 per cent from N1, 600 to N2, 700 while a 20kg bag of salt jumped by 100 per cent from N300 to N600. Twenty litres of vegetable oil went up by 0.23 per cent from N2, 200 to N2, 720.
Mr. Daniel Wilson, executive chairman of Wilson Foods and Confectioneries, decried the current hardship in the baking industry, saying that a good number of workers would lose their jobs if bakers close shop due to the high production cost. "We are responsible people. The price hike is necessary because the privileges of free market economy have been taken for granted. We are increasing the price of bread to forestall the temptation of people producing substandard bread". | |
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| Greatpeter (m) |
Business mogul, friend to every govt in place, will soon buy Nigeria possibly each family excluding mine. | |
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| Motee (f) |
When you meet him in the lift (work in the same floor….Marble House, Lagos) he is humble and you will not know you are with one of the popular business magnate in Nigeria. | |
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| sage (m) |
he is simply favoured by the goverment | |
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| Greatpeter (m) |
Must he be a friend to every government in power to market his goods? That is what I don't like in this guy. | |
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| kazey (m) |
Must he be a friend to every government in power to market his goods? That is what I don't like in this guy.
When you happen to be the number 1 largest importer of rice etc. Yes you have to be a friend of every government. Let me just give an example . Look at microsoft, they are friendly to every government of the country they market their products in. Just imagine an "American Knight", dont you think there are other reasons behind that, besides philantrophism? You wouldn't want some government to interfere in your business runs, just because of your personal principles. Thats not a good excuse to dislike the guy, he is just doing what any other businessman would do in his shoes. On the issue of his prices, i don't have any comment, because i don't know the cost intensiveness of his business. | |
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| Seun (m) |
Dangote Group generally buys, sells, and manufactures in very large quantities, so their prices tend to be lower than those of the competitors. I do not understand what Ka is saying at all.
According to the article posted by ka, the issue of increase in price of sugar was caused by "the temporary closure of Dangote sugar refining plant in Lagos" and distributors taking advantage of the scarcity. It's not the job of the Dangote Group to police its distributors. | |
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| buddy (m) |
Well one thing i like about him is his business acumen.
I hope to have an empire like hime someday. | |
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| kazey (m) |
well i do pray, to have a more diversified, unique empire, better than the one he currently has.  | |
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| hot-angel (f) |
I know he is Rich. and i know he sells food product and some soaps or wateva. All in all, he is one rich man. | |
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| joftech (m) |
Dirty money is a worldwide phenomenon, if any of you guys take the time to study the history of the US, the whole country economy and infrastructures like Universities, businesses were build from proceeds from the Chinese opium trade.
So what are we talking about here. It's not that i support unwholesome means to getting wealth, but am saying that the whole world runs on dirty money, simple. | |
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| Latoya (f) |
He Rules.I love cos he is a role Model.
i have seen him several times when i was back there in Nigeria(kano/Abj).
He is not up himself at all,he acts just normal | |
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| Imnakoya (m) |
Aliko is a smart "businessman" and a very personable character, and that's all there is about him.
He runs a Cartel, he has the monopoly of sugar, rice, flour, cement etc. Just one person!
Bring someone from the most remote village in Nigeria and give him these privileges, he will succeed! Now you have Transcorporation....well that is another topic entirely. | |
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