Prominent entrepreneur Dr. Cosmos Maduka has disclosed that billionaire Aliko Dangote holds the title of the largest debtor in Nigeria, while discussing the strategic use of loans.
In a recent conversation, he observed that individuals who appear to be the most significant debtors often possess substantial wealth.
He emphasized that while it is advisable to utilize loans, one should refrain from borrowing more than 20% of their income.
He said …
“The number one debtor in Nigeria is Aliko Dangote. He’s the wealthiest man in Africa. The number one debtor in the world is the United States of America and you call them the richest in the world. As you admire all of those things, it’s all credit. It’s all about credit. So you should leverage on loan, but you have to have a good structure that will support that loan.”
Check out reactions that followed …
It just goes to show how deeply the country has fallen behind.
This is the wildest thing I’ve heard this year”
@_Ekezie said: “Only people who build real wealth like this can write a book and host or speak in seminars. The rest are either motivational speakers or political looters who can’t defend their wealth.”
@ifegadimma said: “Go to market and see how people proudly boast about the large loans they’ve taken from the bank to start their businesses. They stress themselves out trying to make sales to repay those loans, and their claims about being successful entrepreneurs seem like a complete joke to me”
@THE_CRAFT3R wrote: “Imagine going to the bank to take a loan of N1,000
😲🤯🤯
Watch video below …
