It is amazing: I received a call from the Dangote Group! And critics continue to praise “The Dangote System” as a business book. One wrote: “This book is a worthy read to all aspiring, low-fly and high-flying entrepreneurs, including those envious of the privileges that Dangote Empire has enjoyed. Noteworthy to say, I doubt Mr Aliko Dangote himself understands these privileges as a Conglomerate Tax (reward for helping Government out on high-pains by moving upstream) and not benefits of tribalism, feudalism, and/or Northern Nigeria cabalism.”
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Comment: Professor, I’m ready to sit with you to x-ray Dangote business model, financials and governance operations……..and lets see if Dangote can be classified as a responsible organisation meeting key ESG obligations.
My Response: He will become a monopolist for fixing fuel in 3 years and Marcel will blame him for Nigeria’s problems. He will fix electricity by 2035 and Marcel will blame him for doing that. Give this man a break my friend. Dangote’s problem is that all of us are not serious people. If we have 10 Dangotes in Nigeria, you will understand what govt gives him is common for conglomerates. Washington state pays Boeing $100M yearly.
Do you know how much Virginia waived for Amazon for HQ2? Do you know that GE did not pay tax for years for helping invent something for US military? Conglomerates tax nation; Dangote Group is one. His problem is that none of us has picked our sector to get the same benefits. Go and fix power, you will be blessing from Nigeria. Or pick agriculture or roads or healthcare?
I hate this bashing of Dangote when the people are not doing anything to fix anything. Tanzania rankled him, he left, only for the govt to beg him to come back. He does not solve small problems; he goes for hard one and puts his prices!
Commenter’s follow-up: Professor…. I respect your opinion.
For clarity sake….. I’m not blaming Dangote.
I’m worried about the system that allowed a Dangote to unilaterally determine the prices of commodities in an economy of 200million people.
If Govt gives any Nigerian 10% of the licenses and privileges awarded to Dangote at the start of any of his business ventures without hindrances….. they’ll outperform Dangote.
I do not support a monopolistic market…. Government should check it and give room for small businesses to grow and compete with Dangote. Its for the benefit of all.
My further response: Marcel Ngogbehei “I’m worried about the system that allowed a Dangote to unilaterally determine the prices of commodities in an economy of 200million people. ” – you are not worried. If you are, go and build power plants with 24/7 electricity and Nigeria will dance for you. Go and build hospitals and Nigeria will bow for you. Name your price and you get it.
In Anambra, the state governor gave money to private universities because they are helping him educate young people. That is not bad. He is essentially saying: everyone is talking of no access to school but these people are doing something, I will support them. Lagos plans to wire money to private schools. Every bank founder in Nigeria gets his own via voodoo forex. Nigeria is saying: start something and we will support you.
America funded Elon Musk’s Tesla. NASA ships its budget to SpaceX. Why? He is solving uncommon problems. Find yours and you get it. That is how the world works for conglomerates. Study them or read my book as a starter.---
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