Published on Sep 15, 2015
He’s a Nigerian billionaire, who owns the Dangote Group, which has interests in commodities.
His company operates in Nigeria and other African countries.
As of January 2015, he had an estimated net worth of US$18.6 billion.
He’s Aliko Dangote and here are his Top 10 Rules for Success.
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1. Listen to people
He said; “I can remember when I was in primary school, I would go and buy cartons of sweets [sugar boxes] and I would start selling them just to make money. I was so interested in business, even at that time.”
2. Be consistent
The Dangote Group was established as a small trading firm in 1977. Today, it is a multi-trillion naira conglomerate.
3. Possess the right informations
The Dangote Group has moved from being a trading company to being the largest industrial group in Nigeria and includes: Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.
4. Be focused
In Nigeria today, Dangote Group with its dominance in the sugar market and refinery business is the main supplier (70% of the market) to the country’s soft drinks companies, breweries and confectioners.
5. Think ahead
Dangote Sugar Refinery is the largest refinery in Africa and the third largest in the world, producing 800,000 tonnes of sugar annually.
6. Have a vision
Dangote Group owns salt factories and flour mills and is a major importer of rice, fish, pasta, cement and fertiliser. The company employs over 11,000 people and is the largest industrial conglomerate in West Africa.
7. Do only things you understand
He has diversified into telecommunications, and has started building 14,000 kilometres of fibre optic cables to supply the whole of Nigeria. As a result, he was honoured in January 2009 as the leading provider of employment in the Nigerian construction industry.
8. Think Big
On 14 November 2011, Dangote was awarded Nigeria’s second highest honour, the Grand Commander of the Order of the Niger.
9. Form strategic plans
In May 2015 Dangote expressed interest in purchasing the English football team Arsenal. He stated that if he was able to make the purchase he would fire the club’s long-standing manager Arsene Wenger.
10. Your name is your most valuable asset
He’s ranked by Forbes magazine as the 67th richest person in the world, and the richest in Africa.
Aliko Dangote. He’s changing Africa in a massive way.
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Tone O6 months ago
Staying focused, thinking ahead, with the right information, thinking big, strategic planning and protecting your name (integrity). These are what I saw as most poignant.
I’d like to see 10 rules for success by the following: Tony Elumelu (CEO of United Bank of Africa, Chairman of Heirs Holdings), Wale Tinubu (Oando PLC) and Herbert Wigwe (Group MD of Access Bank). My name is Tony Okoluko
Paul AGBENOHEVI10 months ago
That “Nothing is impossible” is pretty powerful. Love it.
Jay Young6 months ago
Here’s hoping Mr. Dangote goes beyond mere talk and endows the Dangote Graduate School of Business and Economics at Howard University there in Washington, D.C. It doable since he has the means. We do need to groom young African/African Americans for success in business. But we can do that better by establishing institution of higher learning in business and commerce. And this fine Nigerian businessman is just the kind of person we need for such a task.