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Aliko Dangote is Africa's richest person with a net worth of $12 billion. Ten other Nigerians on the Forbes Top 40 richest list.
x | November 22, 2012
For the second year running, Aliko Dangote of Nigeria has topped the list of Forbes richest people with a net worth of $12 billion, up from $10.1 billion... (3) Comment


 
   

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"The views and opinions expressed in these comment(s) or article(s) do not necessarily reflect the views or opinions of NGEX, its partners or its affiliates."
Tahir M.    Shanghai, China    December 02, 2012
Mr, Omotayo, You may be right in your observation. However, did you consider the cost of electricity and other factors of production in Nigeria? When all these are considered you may find that even though it may look expensive, one would still appreciate the efforts they are making in providing and producing the service and goods in Nigeria.
OMOTAYO, J. A.    Lagos, NIGERIA    November 23, 2012
Well written, Mr. Jimoh Ibrahim. But there are snags. First, in Nigeria, our movers of the industry get richer every year while the nation gets poorer every year. What is responsible for this strange phenomenon? In other parts of the world, when the rich gets richer, the state too gets richer.

Second, in other parts of the world, the rich not only employ people in their businesses but equally make the prices of their products affordable. In fact, prices get lower as more patronage comes. In Nigeria, the reverse is the situation. Wherever a Nigerian businessman does a business, prices of the products keep galloping until they get out of the reach of the common man.

Look at the price of cement, for example. The international rate is $55 - $65 per ton or $2.75 - $3.25 per bag. This translates to N445.5 - N526.5 per bag. Even if freight, duty, local transportation, profit, tax, etc amounted to another 100%, one would expect that this would be within N891 - N1,053 per bag at the retail outlet. But instead, a bag of cement costs about N1,800 - N2,000. The same can be said of telephone charges, etc. In other parts of the world, the prices would keep going down while they deal with local customers.

I think many things are actually wrong with our businessmen, but this is not the time to espouse on this issue. Nevertheless, let us hope that they will improve. God save Nigeria..
jimoh ibrahim    lagos, nigeria    November 22, 2012
I really hail all of u, seeing u as Nigerians dat invest their resources for Nigerians to explore is a great accolade for u all. I mean person like Aliko Dangote, Mike Adenuga, Visafon/zenith, Belo Osagie etc. I pray may God continue to increase u more. Several rich Nigerians prefer fixing their wealth in banks 4 interest which will not benefit any individual except the investor alone, i therefore pray dat God should grant u all long life so dat u bring more people out of labour market amin.

Anyway am looking forward too to claim any assistance any of u may wish to accord me. Bye
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