Most people have asked why so few Nigerians
made the Forbes list of richest people in the world. So far, only Aliko
Dangote, Mike Adenuga, Femi Otedola and a few others have made the Forbes list
of world billionaires.
Well the answer to that question is this: Forbes
estimates the wealth of individuals and rank them based on the value of shares
they have in quoted companies (companies listed on the stock
exchange) and most of the richest people in Nigeria prefer to run their
businesses privately. That’s why they don’t make the Forbes list of richest
people in the world.
Nigerian
Billionaires and Top 20 (Entrepreneurs) in Nigeria 2013
1. Alhaji Aliko Dangote – Dangote
Group, (Manufacturing,
oil & gas,)
2. Mike Adenuga – Conoil,
Equatorial Trust Bank, Globacom (Oil & gas, Banking, Telecom)
4. Orji Uzor Kalu – Slok
Group (Aviation, Shipping, publishing, manufacturing)
5. Cosmos Maduka – Coscharis
Group (Automobile, manufacturing)
6. Jimoh Ibrahim – Nicon
Insurance, Global Fleet (Insurance, transportation, oil & gas)
7. Jim Ovia – Zenith
Bank, Visafone (Banking, Telecom)
8. Pascal Dozie – MTN
Nigeria, Diamond Bank (Banking, Telecom)
9. Oba Otudeko – Honeywell
Group Nigeria, Pivotal Engineering, Airtel(Manufacturing, oil & gas,
telecom)
10. Alhaji Sayyu Dantata – MRS
Group (Oil & gas, construction)
11. Umaru Abdul Mutallab –
former Chairman First Bank Plc, Mutallab Group
12. Prince Samuel Adedoyin – Doyin
Group (manufacturing, pharmaceuticals)
13. Dele Fajemirokun – Chaiman
Aiico Insurance, Xerox Nigeria, Chicken Republic, Kings Guards (Insurance, Security,
Technology, Food retailing)
14. Chief Cletus Ibeto – Ibeto
Group (Trading, manufacturing, oil & gas)
15. Raymond
Dokpesi – Daar
Communication, AIT, (Entertainment)
16. Tony Ezenna – Orange
Group (Pharmaceutical, oil & gas)
17. Chief Molade Okoya Thomas – Chairman
CFAO Nig and other six french companies (Automobiles)
18. Ifeanyi
Ubah – Capital oil and
gas (Oil & gas)
19. Leo Stan Ekeh – Zinox (Computer,
technology)
20. Fola Adeola – GTBank (Banking)
The Richest People in Nigeria, the Secret to their Success
and How They Made their Money
Have
you ever wondered how Aliko Dangote emerged the richest black man in the world?
Have you ever wondered how the richest people in Nigeria became rich? Have you
ever tried to find out the exact success secret of Nigeria’s billionaire
entrepreneurs?
1. They are Strong Willed
The richest people in Nigeria are strong
willed in spirit. They are dogged and persistent. To these set of individuals,
success is not an option; it’s a must. These successful Nigerian entrepreneurs
refuse to be held down by their circumstance; instead, they reached out for
their inner strength and went for success. Above all, these entrepreneurs don’t
take no for an answer; they simply refuse to give up and that was why they
succeed.
“When Raymond Dokpesi was on the verge of losing A.I.T; he refused to give up.Mike Adenuga had his telecom license revoked twice and lost over 20million dollars but he refused to give up.Orji Uzor Kalu had his oil bloc license and his aviation license revoked; his airline business was grounded and the business accounts of his publishing firm (The Sun) was frozen, yet he refused to give up.Chief Cletus Ibeto’s cement company was shut down by the government but he persisted and refused to give up.
2. They thoroughly understand their line of
business
Take a close look at the Nigerian billionaires
listed above and you will see the names of entrepreneurs that thoroughly
understand their line of business like the palm of their hands. They know the
in-depth intricacies of the various businesses they are involved in.
Cosmos Maduka, the billionaire founder of
Coscharis group even liken himself to a first class degree holder from the
University of Automobile Spare Parts. Look ate what Chukwuma Innocent is doing
with his automobile manufacturing plant (Innoson Vehicles). This goes a
long way to prove to you that knowing your line of business is essential to
success not only in business but life in general.
3. They are focused
The richest people in Nigeria are focused; they
chose a specific business of their strength and stuck to it. If you are ever
going to make it in Nigeria, then you must obey the first law of business
success of Andrew Carnegie; the steel mogul.
“And here is the prime
condition of success, the great secret. Concentrate your energy, thoughts and
capital exclusively upon the business in which you are engaged in. Having begun
in one line, resolve to fight it out on that line; to lead in it. Adopt every
improvement, have the best machinery and know the most about it.” – Andrew
Carnegie
If you think this statement is a mere fad,
then think again because it’s the truth in its entirety. Aliko Dangote focused
on commodities and basic needs while Femi Otedola concentrated on oil and gas.
Jim Ovia focused on banking. Cosmos Maduka and Ade Ojo focused on automobiles;
Fola Adeola focused on banking, Leo Stan Ekeh concentrated on computers and
Raymond Dokpesi focused on broadcasting and entertainment. This should tell you
that concentration is a key factor to succeeding in business.
The Nigerian billionaires have a strong
business mission and vision; and these two factors propel them to greatness.
Take away their business mission and they are no more; this is because their
entrepreneurial spirit is in the mission of their businesses. Take for
instance:
Aliko Dangote, he is on a mission to provide
the basic needs of over 150 million Nigerians; Femi Otedola is out to provide
Oil and gas at a uniform price with faster delivery. Fola Adeola is on a
mission to provide innovative banking services to Nigerians; Leo Stan Ekeh
wants to put a computer in every home and Raymond Dokpesi is out to give
Nigerians uncompromised news and information on happenings. A strong business
mission and vision is the reason these men emerged successful.
5. They are excellent networkers
The richest people in Nigeria became rich
because they are good networkers. They network among themselves and even
patronize each other’s services; and when a big deal is on board, they
pool their resources together, form a consortium, execute the deal and split
the profits. This is why they emerged the richest people in Nigeria.
6. They are Competitive
The Nigerians billionaires listed above are
very good at networking with each other; yet, they still compete against each
other when the need arises. You can see an example of this when Aliko
Dangote used MRS Group to compete against Femi Otedola for the shares of
Chevron Nigeria. The richest people in Nigeria know that nothing comes easy
and life is not fair; so they fight with all they’ve got to stay in business.
Competitiveness and the ability to stay afloat are essential to survival in
business.
7. They think big
One attribute I love about Nigerian
billionaire entrepreneurs is that they are big thinkers. They think big and
love to do big things. Despite the fact that they started small; they dreamed
big.
Aliko Dangote is the largest cement
manufacturer in Africa and also wants to build the biggest refinery in West
Africa, Femi Otedola is the largest diesel importer in Nigeria; Ifeanyi Uba’s
Capital Oil and Gas is the largest importer and distributor of Kerosene.
Jimoh Ibrahim runs Nicon (the biggest
insurance company in Nigeria), and Raymond Dokpesi owns the first
indigenous cable network television in Nigeria. So if you are going to leave a
legacy in life, then you must think big and act big.
8. They are flexible
Flexibility is one of the strengths of the
richest people in Nigeria. They understand the terrain very well; they know
that the government is the most inconsistent body so far, so they prepare
themselves forehand. They keep an eye on the ever changing pattern of the
government and swiftly adjust their businesses to align with such change. They
are also quick to adapt to current situation and trend while their competitors
are still grappling with the reality on ground.
9. They are opportunist
The richest people in Nigeria are
opportunists; they know how to take advantage of situations. Where others see
problems, these set of individuals see opportunities and start a business
around such opportunity. While other Nigerians shy away from adversity; these
men embrace adversity because they know that behind every adversity is
opportunity.
“Behind every
adversity is an opportunity. If you lament over the adversity, you will miss
the opportunity.” – Ajaero Tony Martins
They know that wealth lies in their ability to
convert problems into opportunities and value; just like the ancient alchemists
that tried to turn lead into gold.
“A good businessman
must have nose for business the same way a journalist has nose for news. Once
your eyes, ears, nose, heart and brain are trained on business, you sniff
business opportunities everywhere. In places where people see a lot of
obstacles, I see a lot of opportunities. At times, there is something
instinctive in me that tell me a business opportunity exist even at a place
where others see nothing. That is what makes me different, maybe unique. A good
businessman sees where others don’t see. What I see, you may not see. You
cannot see because that is the secret of the business… the entire world is a
big market waiting for anybody who knows the rules of the game.” – Orji Uzor
Kalu
It is often said that behind every successful
man is a woman. In this case, I will say that behind every successful
entrepreneur is a strong business management team. The presence of a business
team is the reason why Nigerian billionaire entrepreneurs and richest people
can swiftly take advantage of opportunities; raise capital and run multiple
businesses while minding their family affairs. A business team is vital in your
transition from a small business to a big business.
11. They love Nigeria
Above all the success secrets of the richest
people in Nigeria, this is the greatest. Love for Nigeria made the Nigerian
billionaire entrepreneurs invest heavily in the country. They have all it takes
to move their investment elsewhere but they chose to invest in Nigeria because
they believe in Nigeria.
This factor is so prevalent that even Aliko
Dangote advocated the need for entrepreneurs to firmly believe in Nigeria;
instead of going abroad in search of greener pasture. This is to say that if
you must strike it rich in your country; then you must believe in your country.
As a final note, these are the eleven
secrets that are responsible for the success of the richest people in Nigeria.
If you want to join this list of Nigerian billionaires; if you want to imprint
your name on the sands of time, then replicate these strategies and I will see
you at the top.
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