He could pass for just any other guest. But he is unmistakably familiar. Charming but humble! Stupendously wealthy, yet radiates simplicity. Strolling in, unassuming, was Africa's richest man. It was his birthday. Dressed in a black suite with a black shinny cock shoe to match, Aliko Mohammed Dangote kept his appointment for 9am.

Unlike the rambunctious entry of Nigeria's men of means and power, Dangote walked in with just a few of his executives. After the informal handshake and introduction, he grabbed the microphone to make some opening remarks which turned out not to be mere remarks. He made earth-shaking revelations about his person, the conglomerate he runs (Dangote Group), the Nigerian economy and how things can get better in a very competitive environment of clashing political and socio-economic interests.

At first, the tempo was cool - the usual compliments of not having time to rub minds, examine developments in the country with a view to proffering solutions - and the usual pleasantries, until Dangote explained that the real danger confronting the Nigerian state is the infrastructure deficit in a country where the population growth has choked existing facilities. He made it clear that the problems confronting Nigeria today did not just start - they are a cummulation of many years of misgovernance and lack of vision. Shall we blame President Goodluck Jonathan? No!

On the Economic Management Team of President Jonathan, Dangote explained that the team is working hard to ensure that good policy frameworks are put in place with a view to building a more prosperous nation. The EMT is as bothered as President Jonathan to bequeath a better economy to Nigerians.

But, at the point when Dangote said the danger posed by infrastructure deficit is far graver than the Boko Haram threat, all heads turned in his direction.

Mind you, his audience was a group of select senior journalists in Nigeria."Why should we in Nigeria, blessed with many mineral resources, be where we are", he asked? "The mineral resources we have can replace and be better than the crude oil. "Some ask where the minerals are but they are there.

"Even in the Economic Management Team, EMT, we ask and look for ways to make it possible to clear goods from the ports within 48 hours.

"But I say it would not be possible and the cost adds to everything. "To clear a container in Lagos it would take about $1000 but in Brazil where they are not even efficient, it costs less than $100 to clear the same container.

"The issue which people seem to forget is that the last port we built in Nigeria, the Tin Can Island Port, was built in 1978 - look at the population of Nigeria at that time, the size of the economy, crude oil was being sold for about $9 and compare with the expansion of the economy and the population and people think we should still manage with the same facility?

"God forbid, some people were expressing fears about Third Mainland Bridge; God forbid I say, should something happen to that bridge, how would people move around in Lagos? Look at how difficult it is for people to move around now and it is being said that by 2020 Nigeria's population would be about 200 million".

OUR INVESTMENTS, OUR VISION
"Before we were making money from our other businesses like sugar, salt, flour and putting the money in cement but by 2010 we were able to pay all the banks.

"I don't have any issue with government raising money, that is, loan, so long as it is spent well. Beyond the issue of Boko Haram and insecurity, the greatest threat that confronts us is the threat of decaying and decayed infrastructure. And this is not just in Nigeria but in all of Africa, the greatest threat is infrastructure".

DECAYED INFRASTRUCTURE, THE GREATEST THREAT
"Somebody was asked how he would operate in government and the person said he would face only two things - infrastructure and education. And he was asked what about the rest. He said with infrastructure, other things would follow. "This is what I think confronts us as the greatest danger even beyond Boko Haram".

His audience laughs but he charges back with bluntness: "No! It is true."The biggest problem of anybody is when you taste money; you were once rich and then you become poor. It is very bad. Nothing can be worse than that."It is when that money goes that you'll see the true colour of everybody - your wife, your children (a round of raucous laughter)

ALTERNATIVE TO CRUDE OIL
"If today oil prices collapse, do we have alternatives?"I tell people that we do. Some of us may be manufacturing in our own little way, but in a very big country like Nigeria with its population, that is simply not enough."We are heavily into cement - meanwhile limestone is the cheapest of all the mineral resources we have. There are other minerals that are even more lucrative and more profitable that government is looking to exploring.

"The problem is that even when you begin to explore, how do you move the goods around."We've also been talking about new ports but there are challenges".

SCAVENGERS ON THE LOOSE
"Look, let me tell you what we have in Nigeria: We have scavengers who hold licenses but wait and do nothing. People just grab opportunities and wait to see what happens rather than operate with the licenses "Government has issued 19 licenses for refineries and everybody is holding the licenses and claim that they are waiting for foreign investors. Mind you, the foreign investors are not fools".

THE ROLE OF FOREIGN INVESTORS
"Foreign investors did not build South Korea - South Koreans developed their country; the Germans built their economy, an economy that was once in ruins. The Germans suffered a lot but now they are the best.

WHAT FOREIGN INVESTMENTS ARE WE GETTING?
"Meanwhile, Sanusi Lamido has done his best by holding inflation down, holding exchange and interest rates down; because in an economy that does not export much, the best you can do is to have a strong currency so that life would be a bit easy. Though interest rates may be high but that should not stop a business from operating.

"When we were building Obajana Cement factory, we were paying as high as 42% interest rate at some point in 2004/2005 - some banks charged that much and we didn't pay dividends for some eight or nine years; but after sorting out our loans we paid the accumulated dividends. "The foreign investor I would prefer is the one that goes to Ekiti for instance and sets up a factory because even if the investor wants to leave Nigeria, he would sell off his investment but the ones investing in our bonds can just wake up one day, re-discount it and just leave because our rates are fine".

CONCESSIONING
"If you concession, it is not a bad idea because government can not do everything. In Dubai and some other more developed economies, that is what is happening. I was reading some paper in Dubai during the week and the leader of the country was thanking the transport authority for saving the government $60 billion over a period of five years - meanwhile, the savings was calculated in form of man hours.

"If you look at those who work with us for example, the drivers, they bear so much. Imagine someone who leaves his house by 4 or 4:30 am and does not return home until 10 or 11pm! How would he have time for himself and the children - and these things come round to create an environment that is not overall conducive for upbringing of a child. "There is hope if we do the right things. "It does not matter who provides the service; the people would be willing to pay".

Is the future brighter?

SOURCE: http://m.naij.com/news/30993.html
Click for more on his response

front page material.first to comment anyway/

^^^ I sure hope the mods see it as such

Nice!

Front page pls

This is a plain truth.
Our dear country needs to develop.

True talk.....
our leaders have failed to plan for the future......... Exept for what they would eat
Nigeria still has a bright future.

Hmn. Surely, Nigeria can not move anywhere with both economic scavengers and political jobbers holding sway in government.

I'm glad the scale is falling off the President eyes that the refineries are milking Nigeria dry and therefore should be privatised as well.

I hope the movers and shakers would listen and take him serious this time.

lorretta u: Front page pls

LoL

mencer: True talk.....
our leaders have failed to plan for the future......... Exept for what they would eat
Nigeria still has a bright future.

Indeed bruv, indeed.

My worry is there are too few 'real and selfless' visionaries lost in the multitude of people with personal agendas. I'm not saying Dangote doesn't have a stake in the present scheme of things, but the man clearly has something solid in terms of what he forsees as the right path.