Harvard University’s annual budget is about 3x the total education budget of Nigeria, from primary to university level. That is not news. What is news is that Aliko Dangote will pocket more profits from his empire than the budget of my state of Abia state. Dangote Cement returned profit after tax (PAT) of N276 billion while Abia state will still need loans to fund its N131.8 billion 2021 budget.
Sure, Aliko is not the only shareholder in Dangote Cement. But hold on, add the other pieces in his empire, and he could be going home with more cash than Abia. And remember that Abia is not a small state; it spends more than Kogi, Yobe and a few others.
Now, who has more power to get things done? You can see the power of markets and why entrepreneurial capitalism should be supported because nations can only rise when entrepreneurs do. The money Elumelu, Ovia, Dangote, Rabiu, and few others will take home should tell you where the emerging powers are: you may not believe this, only markets will liberate Nigeria, and the earlier everyone gets to that conversation, the better.
Click to join Tekedia Capital and build Next Africa with min of $10,000 co-investment in startups.