How did Dangote Become Richest in Nigeria?


How did Dangote become the richest in Nigeria? I believe this question is on the lips of every young entrepreneur, If we can find out how the rich got rich, then we can equally follow the same path.

Answers ( 4 )

  1. Flint

    Aliko Dangote is not just the richest man in Nigeria, he is also the richest in Africa and among the richest in the world. He became rich by revolutionizing the limestone mining used in the production of cement which is a major building component known in architecture.

    His cement plants are scattered all over the Continent and he has diversified his business into other sector in the last years.

    History have it that he borrowed $3,000 from his uncle at age 21, the money was used for importation and sell of agricultural products in Nigeria, his country of origin. The story continued that he was able to repay this loan in about three months and also made enough profit to stay afloat.

    How did Dangote become richest man in Nigeria? My answer is quite simple – through hard work, dedication, commitment, policy, good politics and merchandise of ideas.

    Most African don’t pay back loan, especially when it is gotten from a rich uncle, that was a commendable character.

    His cement plants are scattered all over the Continent and he has diversified his business into other sectors of the economy like agricultural, exploration and currently building the only independently owned refinery in Lagos, Nigeria.

    This answer was edited.

    Dangote became the richest man in Nigeria by leveraging adequately on opportunities presented to him. Opportunity comes to all of us, it is what we do with them that matters.

    Dangote became the richest

    Dangote is the richest man in Africa as well, a positioned he has maintained for lots of years now despite the economic turbulence that is currently witnessed in Nigeria.

    Sometimes ago, so many years back he borrowed some amount of money from his uncle to start his own business and paid back within few months. He became rich by trading in commodities with high demand and he understood what it meant to “Go Big”.

    There are certain qualities you find in every wealthy person, irrespective of their location.
    We can really talk about how dangote became rich without considering this vital qualities.

    They Have a Core

    They know their gifts and leverage adequately on it. Dangote is a business man and he has never been anything else, Bill gate is a developer and has never been anything else. Anybody can become rich just like dangote by leveraging on their gifts adequately. You might not be as detailed developer as Bill but you could be a risk taker like Dangote. We are all gifted differently, Just find your purpose and stay there.

    They are Risk Takers

    No one gets to the top halfhearted, you must be a risk taker. It takes some gut to venture into uncharted business territories. Rich people just know how to take risks and go big, they are always thinking big and expanding.

    They know Their Craft

    When you eventually start your own business with an aim to become as rich as Dangote, take out time to know your onions. Learning about your craft is vital, you can’t claim to be a business man if you have not read one book on business. Talk to people ahead of you, read books, study your craft adequately. Do a little research on your competitions, you will be shocked at what you will find.

    There are other quality you find in every rich man, for some people, they are born with this qualities… they just needed fine tuning, other have to develop them consciously.

    This is how dangote became richest man in Nigeria, but I guess there is so much more and you can ask him when you eventually find him.

    I always believe that success could be replicated. if you know what took a man to the top, you can get there yourself.

    Best answer
  2. Eva

    Dangote, the richest man in Nigeria/Africa hails from kano state in Nigeria, he grew up from a Muslim family and had wealthy fathers and wealthy uncles who were willing to assist him with capital for starting up his own business.
    Dangote is an entrepreneur who had business ideas and made tough decisions to pursue his dreams.
    He is this type that reinvest on his business, the first business he venture in was importation, importation of rice and sugar in large quantity and was selling to the final consumers.

    When he finished his school he borrowed money from his uncle and started that importantion and within three months he was able to pay his uncle back the money he borrowed.

    Dangote did not just stop there he also reinvest in other businesses like cement, telecommunications,real estates etc. Like what he said sometime ago, he said he don’t keep money in bank that much he reinvest most of his profit in his businesses.

    That is something to take home really, one should be on the look out for opportunities if one desires to become the richest person in Nigeria.

  3. No one actually knows the richest man in Nigeria. Why say these u say? 
    One reason is that we have lots of silent, shady and “quite clean” billionaires. Quite clean here means people who we can see a particular business that is genuinely their own.

    On the basis of these according to the renowned and widely accepted statistical magazine the Forbes, Aliko sani Dangote is believed to be the richest man in Nigeria as well as Africa at large. 
    Where he was born and when he was born is simply a story for another.

    It’s been widely said Dangote started by borrowing money from his uncle Alhaji Dantata an astute businessman in kano.

    He has a lot of companies.

    But how did Dangote become quite rich? I will tell you about it.

    1. Dangote is an opportunist. He seizes opportunities that come his way to become rich. For example, in some very deep coffers, he is known to have inherited the billions of Ibrahim abacha who died in 1996 due to a plane crash due to the former’s account been used for the money. This has been said many times and Dangote has never come out to deny it.

    2. He is known to befriend the ruling party at all times. Dangote always leverages on been in the good books of every government. He knows the government could make or Mar him. With his loyalty over the years, his goods have been monopolized by the government policies. Talk about the cement, even now we all are waiting on Dangote to save us in terms of oil production. 

    3. Dangote invested in essential commodities. He has made sure he goes into what everyone needs both the poor, rich and wealthy. Talk of his salt, spaghetti and cement and recently oil refinery business he is indeed very smart.
    Tenacity and determination are part of the reasons for his wealth but sincerely u and I know the government made him.

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