Friday, 1 March 2019

STRAIGHT FACTS - Aliko Dangote's Top 10 Rules For Success

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 2019, he had an estimated net worth of US$18.6 billion. He's Aliko Dangote and here are his Top 10 Rules for Success.

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 information: The Dangote Group has moved from being a trading company to be 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.
Aliko Dangote's Top 10 Rules For Success
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.

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