Founder/CEO, Dangote Group, Aliko Dangote has admonished participants at Lagos Business School (LBS) to refrain from embarking on business ventures they have no thorough knowledge of. Dangote shared this insight during a presentation he delivered at the School auditorium on Wednesday, May 10, 2018.
The visit is part of experiential learning activities organized by LBS to expose participants to firsthand knowledge from successful entrepreneurs that can inspire them to scale their businesses and contribute to transforming the Nigerian economy.
Earlier in the day, participants went on a bus tour of the refinery and petrochemical plant situated on 2,535 hectares of land at the Lekki-Epe Free Trade Zone. They were taken through several parts of the facility by construction supervisors who shared details of the work going on at the plant.
Dangote who has just been named one of the 75 Most Powerful People on the planet said of the refinery, “When construction work is done, and the refinery is ready, Nigeria will become the largest exporter of petrochemical, even bigger than South Africa”. On why his company is so successful, Dangote advised the participants on some of the strategies that have been adopted over time. He told them to identify sweet spots by creating businesses that provide basic needs, diversifying, efficiently executing and investing even in an economic downturn.
Academic Director of the Owner Manager Programme (OMP) at LBS, Dr Henrietta Onwuegbuzie who facilitated the visit said, “The objective of today’s programme is to expose participants to inspiring activities that can help them feel they can make a difference in the country and I think we have achieved this considering these participants have expressed awe and admiration for all they witnessed today.”
One of the highlights of the visit was during the Question and Answer session when MEMBA 6 participant, Oluwatobi Ajayi, who recently appeared on Forbes 30 Most Promising Entrepreneurs list, secured a private meeting with Dangote to discuss the possibilities of setting up a car assembly plant in Nigeria.
Ajayi said of the experience, “I came here today with high expectations but securing a meeting with the richest man in Africa has completely exceeded my wildest imaginations, and I must thank LBS for making this possible.”
The visit ended with cheers from participants as Dangote invited them to a tour of his jetty at a later date.