Learning from the Wealthy

As of today, Africa’s richest man, Aliko Dangote, and Africa's second richest man, Abdul Samad Rabiu, the founder of BUA Group, are the only two wealthy Nigerian super-rich elites who own and maintain expensive luxurious super yachts.

Aliko Dangote bought his super yacht, a 108-foot vessel, for $43 million in 2013.

The custom-made luxury yacht is named after Dangote’s mother, Haija Mariya.

Abdul Samad Rabiu bought his own super yacht, a 60-meter (197-foot) custom superyacht from the renowned Italian shipbuilder Baglietto, for $100 million.

He recently hosted his friends, including Nigeria’s 4th richest man, Femi Otedola, on the $100 million super yacht over the weekend.

Abdul Samad Rabiu's yacht is designed to include ultra-luxury features like a touch-and-go helipad, a haute-cuisine kitchen, a wine cellar, and a garage holding tenders and jet skis.

Interestingly, Dangote wants to sell his super yacht and recently listed his multimillion-dollar luxury yacht and his private jet for sale as part of a strategy to reduce and streamline his luxury assets.

So Dangote’s yacht is currently for sale.

Dangote is not selling his super yacht because he is broke. In fact, he just got wealthier.

He is selling because he is doubling down by betting on the future of Nigeria.

As we know, Aliko is doing a lot at the moment, expanding his refinery and fertilizer business, building a sea port at Olokola, Ogun State, planning to go into steel and generating electricity to sell. He is executing a massive $100 billion expansion vision through 2030 aimed at continental self-sufficiency, with several major investments already underway.

His vision is simple: he wants the Dangote Group to be a $100 billion revenue business by 2030.

That is why he is selling his yacht and doubling down by betting on Nigeria.

The lesson Aliko Dangote is passing to my generation of entrepreneurs and leaders is simple: don’t run away because things are not rosy and things are hard at the moment.

Yes, we have an incompetent president and insecurity challenges, but Nigeria has never stopped being a lucrative goldmine for business.

That is the secret Aliko Dangote has discovered, and why he is doubling down.

So, start that business, invest in Nigeria, expand your existing business, bet on Nigeria, and never stop betting on the future of our country.

And double down if you can.

That, for me, is the biggest message Aliko Dangote is passing to my generation of leaders and young entrepreneurs.

Things will get better, and insecurity will not be with us forever, I promise.

 

[Okoroafor Faith]

I got humbled earlier today.

I came across a video where an interviewer asked a man how much he thought would be enough for his whole life. He told him to write the amount in a book. Then he asked him how he could make that amount.

The man said, making that amount is impossible.

The interviewer told him, it is very easy. He brought out a Rubik’s Cube and asked the man how long it would take him to arrange it. The man said probably hours.

Then the interviewer asked, “What if I tell you that you can do it in seconds?”

The man asked, “How?”

The interviewer brought out his phone and showed him a guide on how to arrange the Rubik’s Cube in seconds.

Then he told the man, “The particular amount of money you are talking about, and didn’t believe you can make is actually very simple to make. You just need information. You need a template, a strategy on how to achieve it.”

When I heard this, I got humbled.

I understand that many things are not impossible. We just need a guide, a strategy, or someone who has been there to tell us how it is done and how it can be achieved.

Instead of trying a thousand possibilities for hours, there may just be a simple way to achieve it with the correct template.

Think about the Rubik’s Cube. If this man were given that cube to arrange without a guide, it would likely take him hours. He would try a thousand possibilities before eventually getting it right.

But with the right template, he can follow the steps and achieve it in a single attempt.

And I was just humbled.

Everything I am going to do, I need to find a strategy.

And you should too.