I have defined the term genius on this platform several times. Anybody can be a genius. What they do is simply to find a way to do very important but difficult things in an easy way. You see, they are as human as you and I. It was Mozart who observed that “True genius resides in simplicity.” All you need do as a genius is to find out a need within the society, make the solution to that need simple and the rest will be history. One obvious fact is that there will always be a need among us. Man will never be satisfied. Satisfy one need and he focuses on another one. Take a look at Cowbell sachet milk. What the owners did was to identify a need in the community, simplified it in such a way that majority of the populace could afford and they became number one in that category. Think of the conglomerates. What most of them do is simple. Manufacture affordable products, those that are being referred to as everyday goods. These are goods consumed by you and I on a daily basis. Those are a range of goods that almost everybody, every household and different income earners will have a need for.
I have also in the past identified different kinds of geniuses. Those who invent something new and those who add to something already invented. Bill Gates is a genius, but he falls within the second category. Same with people like Henry Ford. What many may not know is that some of the inventions credited to Thomas Edison, the man who invented the electric bulb were not initiated by him. What he did was to perfect what others left half way. Till date, the world is still witnessing the birth of geniuses on a daily basis. Some of them are experts in people management. They bring together good heads and form them into teams that can make a difference in the world.
Another important characteristic of these geniuses is that they see opportunities where others see adversity. They start small, but are able to overcome every setback that comes their way. One of such people is Alhaji Aliko Dangote. Born on April 10, 1957 in Kano to Muhammad Dangote and Hajiya Mariya Sanusi Dantata. He had his primary and secondary education in Kano. And later proceeded to Alazahar University, Cairo, Egypt.
His interest in trading started when he was 8 years old. Then, he would buy cartons of sweets and retail them to make more money. He started out understudying his uncle, Sanusi Dantata, after his father’s death. Thereafter, he got a loan of N500, 000 from his uncle in 1977 to start his own business, with an order to offset it within three years. He repaid the loan within three months.
Dangote since then has moved from one success to another. Today, he directs a business that has diversified from its early concentration on commodity trading into banking, agriculture, manufacturing, textile, transportation, oil, etc.
Dangote who made his name in commodity trading, especially sugar business, exports cashew nuts, cotton, cocoa, millet and textile. He also exports fish. Interestingly, he started out importing fish. He imports and sells rice, vegetable oil, and cement. One of the strategies that moved him to the next level was his distribution network. He decided to move from being just a successful commodity dealer to a more rounded entrepreneur with solid investments in finance and manufacturing. His style is acquisition and buying into existing companies. He started out with Dangote General Textile product which he acquired from the owners thereby establishing control over the source of his trade.
In 1993, he acquired controlling shares in the Lagos-based Nigerian Textile Mills. He invested enormous resources in re-capitalizing, refurbishing its machinery and restructuring its management. And within a few years, he turned it from a loss maker back to its days of good profits. He also bought 40 percent shares of the Nigerian Salt Company to broaden his investment portfolio. National Salt became a strong contender for the control of Nigeria’s salt market.
For every sector that he ventures into, he ends up with praises. His sugar company is believed to be controlling over 60% of the sugar market in Nigeria. Imagine 60% control of sugar to a population of over 170 million people. This is due to the heavy demand by Nigeria’s soft drink industry, breweries, and the increasing confectionery industry. Also to be considered is his grip on haulage business, an edge which helps him to distribute faster, cheaper and at a uniform price nationwide.
A close look at the pattern and structure of his investments in various sectors of the national economy tells the story of a very courageous man who has an abiding faith in the future of Nigeria. It takes courage and faith to locate most of his businesses outside his primordial home, Kano. And now, outside Nigeria. Like I mentioned earlier, the difference between a genius and others is that when opportunities come their way, they seize it with both hands.
Dangote, according to one writer, has proved that business success can come through determination, honesty and perseverance. His managerial skills must surely be the envy of economic experts, whose submission may hitherto have been that, excelling in the corporate world, must be through the acquisition of several degrees. As far as I’m concerned, the man Dangote is a phenomenon. He is a gift to our beloved country, Nigeria. He was sent to put smiles on the faces of several Nigerians through the creation of job opportunities. He has thousands of Nigerians and non-Nigerians on his work force. That’s what the Nigerian Project is all about. Imagine if Nigeria has 20 Dangotes? While most accomplished Nigerian entrepreneurs stash their money abroad, only for the host country to use same in the creation of jobs and development of their economy, Dangote will invest majorly in Nigeria. He believes so much in Nigeria. In his words, “If you give me today $5 billion, I will not invest any abroad, I will invest everything here in Nigeria. Let us put heads together and work.” He further stated, “Nigerians can even be bigger than Aliko Dangote. The whole thing is that you have to really be very determined. You have to believe that, yes, there’s a future in this country of ours and I can tell you right now, I don’t believe we have even started doing anything in Nigeria because the opportunities are enormous. I don’t even know where to start from.” Dangote has continued to keep faith with the Nigerian Project by throwing his money into virtually every sector of the economy.
Today, with Benue Cement Company Plc, the Bachita Sugar Company, the Flour Mill in Kwara State and the Obajana Cement Company, his group remains the biggest indigenous conglomerate. His tentacles are in almost every sphere of human activity, all carefully packaged in over seven different companies which include Dangote Textiles, Dangote Sugar, Dangote Cement, Blue Star Shipping, Blue Star Investment, Dansa Foods, Dangote Flour Mills, etc.
Dangote, ever humble, does not believe in tradition. He does his things differently. Leadership they say is by example. For instance, in commemoration of his 50th birthday, he boosted the Nigerian economy with the commissioning of the 950 million dollar state of the art Obajana Cement Plant. The plant is believed to be the largest of its kind in Sub-Saharan Africa and the most modern cement facility in the world. It’s expected to churn out about 4.4 million metric tons of cement per annum, nearly 42% of current national cement consumption of 10.4m metric tons, and generate more than 10,000 jobs.
According to Dangote, Nigeria would be ripe for export of cement to America and South America within a short time when local production capacity is expected to hit over 20 million tons annually. Dangote, in his effort to alleviate the level of poverty in the land, set aside a whooping $100 million to provide single-digit loanable funds for Micro, Small and Medium Enterprises (MSMEs). This is the largest sum ever to be put together in support of the MSME sector.
In recognition of his business acumen, Dangote, the richest man in Africa, has received many awards, home and abroad and has been rated as one of the most outstanding CEOs in Corporate Nigeria. He was conferred with the Officer of the Order of the Niger (OON) and Commander of the Order of the Niger (CON) by the Federal Government of Nigeria. The latest is the GCON, Grand Commander of the Order of Niger.
Dear reader, like I’ve always said, learn to start small. Dangote would’ve picked some business principles from his experience when he started at 8 years. Also be a man of your words. He was given a loan for three years and he repaid in three months. That showed he has always remained focused, right from the beginning. Some would’ve done something else with that money. Another important lesson to learn is that we must be good in whatever we are doing. Though we can engage in several other things, it’s important to be very good in one thing before going into any other thing. It’s also of great importance to consider going into related businesses, if multiple streams of income is being considered. It’s an agreed fact that one can never be financially independent earning income from one source, but diversification should be done wisely. One thing that helped Dangote in his business is the haulage outfit. We should also consider our environment and the end user before going into business. Conglomerates are big, but most of their products are what majority of the populace can afford. Finally, always be humble. Don’t be too proud of your achievements. Great men are those who treat everything with simplicity. Whatever you achieve today is by His grace.
Shalom!