Business
DANGOTE, Putin, Trump, Merkel most powerful persons in the world-Forbes
Foremost Entrepreneur and President of Dangote Group, Aliko Dangote, was at the weekend named along other world leaders such as Russian President Vladimir Putin, American President-elect, Donald Trump and German Chancellor, Angela Merkel as the most powerful persons in the world.
These personalities were ranked along with 7o others as the most powerful people with Dangote ranked as the second most powerful in the African continent.
The Nigerian business mogul has constantly featured in the list since 2013 when he was listed as the only black African so rated by the popular Forbes Magazine in the list of 100 most powerful persons.
Listed as number 71 most powerful last year ahead of the American President-elect, Dangote, Africa’s richest man, moved up the ladder of influential people as he was named as the 68th most powerful in the world weekend, coming only after the Egyptian President, Abdel el-Sisi, who was adjudged the most powerful in Africa and 44th in the world.
The famed American business magazine, Forbes in the latest edition of its 74 World Most Powerful People ranking list released at the weekend showed that the 64 year old Russian President, Vladimir Putin is the most powerful in the world, ahead of Mr. Donald Trump who is second on the list.
While the German Chancellor Angela Merkel is ranked the third most powerful person in the World, out-going American President, Barack Obama placed 48th on the list.
The Catholic Pontiff, Pope Francis is the fifth most powerful person while the world Richest, Bill Gates comes seventh. Chinese President Xi Jinping comes before the Pope in number four while the Facebook Founder, Mark Zuckerberg is the number 10 most powerful person in the world.
The Forbes reports that there are nearly 7.4 billion people on planet earth but the listed 74 men and women make the world turn.
The magazine is well known for its lists and rankings, including its lists of the richest Americans (the Forbes 400) and rankings of world’s top companies (the Forbes Global 2000). Another well-known list by the magazine is the The World’s Billionaires list.
As at 2013, Dangote was the only African listed among the most Powerful people in the world before the Egyptian President now recently featured on the list.
Dangote, the business magnate had won the ‘2016 African Business Leader Award,’ organized by the Africa-America Institute (AAI), in New York in September.
The Dangote Foundation, the most endowed Foundation in Africa established by him also won the ‘2016 African Philanthropy of the Year Award,’ at the All Africa Business Leaders Award (AABLA), put together by CNBC Africa, in Johannesburg, South Africa, in November 2016.
The magazine is well known for its lists and rankings, including its lists of the richest Americans (the Forbes 400) and rankings of world’s top companies (the Forbes Global 2000). Another well-known list by the magazine is the The World’s Billionaires list.
As at 2013, Dangote was the only African listed among the most Powerful people in the world before the Egyptian President now recently featured on the list.
Dangote, the business magnate had won the ‘2016 African Business Leader Award,’ organized by the Africa-America Institute (AAI), in New York in September.
The Dangote Foundation, a leading Foundation in Africa established by him also won the ‘2016 African Philanthropy of the Year Award,’ at the All Africa Business Leaders Award (AABLA), put together by CNBC Africa, in Johannesburg, South Africa, in November 2016.
it would be recalled that last month, Dangote was named among the 50 world most influential personalities by Bloomberg, the renowned United States-based news media with bias for business and financial news reporting.
The group of personalities chosen by the Bloomberg Market consisted of CEOs, world leaders as well as religious leaders. As expected, Barack Obama, Angela Merkel and Pope Francis made the list with Dangote at number 41 on the list.
According to Bloomberg, those on the list “build companies and assemble fortunes. They run banks, or hope to disrupt them. They shape economies and spread ideas. They manage money and wield the clout that goes with the billions of dollars they invest.”
The Bloomberg said of him: “Aliko Dangote, Founder, Dangote Group, Africa’s most successful businessman, built his fortune in sugar, textiles, and cement in his native Nigeria, where today, he is a political as well as a financial power broker. He is expanding in other countries and may list his cement company in London Stock Market.”
A piece written by Paul Wallace, a reporter with the media outfit, said: “Dangote is fetes like royalty. He has businesses ranging from cement to sugar to energy in a dozen sub-Saharan countries. He’s a fixture at elite gatherings such as the World Economic Forum in Davos, Switzerland.
No African has ridden the continent’s halting march out of poverty toward potential prosperity as spectacularly as its richest person, the Nigerian industrialist Aliko Dangote.
Also, another list compiled by business news network CNBC, which highlights those who, have disrupted industries, sparked change and exercised an influence far beyond their own companies, listed Dangote among 24 others.
“As CNBC embarks on its second quarter-century, it faces a world completely altered from when it started. The 25 men and women listed [here], from different parts of the world and across different industries, have, for better or worse, been the rebels, icons and leaders in the vanguard of that change,” it said.
“Aliko Dangote, Africa’s richest person, built his fortune in two distinct phases, riding the changes that led to Nigeria becoming the continent’s largest economy,” CNBC said.
“Expanding his empire from his native country to West Africa, and then across sub-Saharan Africa from Ethiopia to South Africa, Dangote showed that it was possible to create wealth in the region by means other than tapping the continent’s abundant natural resources.”
The business news network added that Dangote’s proposed building of an oil refinery is typical of his vision and will allow him to move into producing fertiliser and polypropylene as well.
“Dangote’s model was straightforward from the get-go: to dominate sectors protected from new entrants, and to use scale and his trucking and distribution system to drive prices down to levels that let him crush domestic rivals. He has pursued success with single-minded focus, and has many critics,” said CNBC.
society
The Role of Certificate of Occupancy in Property Valuation Method in Nigeria by Dennis Isong
10 Benefits of Joint Property Ownership in Nigeria by Dennis Isong
Owning property together with someone else can be a smart move in Nigeria. This is called joint property ownership. Let’s look at ten good reasons why people choose to own property together in Nigeria.
1. Sharing the Cost
Buying property in Nigeria can be very expensive. When you own property jointly with someone else, you can split the cost. This makes it easier for many people to become property owners.
Imagine you want to buy a house that costs 20 million Naira. If you buy it alone, you need to pay the full 20 million. But if you buy it with a friend, you might only need to pay 10 million each. This makes it much easier to afford the house.
Sharing the cost doesn’t just help when you’re buying the property. It also helps with other expenses like:
– Repairs and maintenance
– Property taxes
– Insurance
When you share these costs, owning property becomes less of a financial burden.
2. Easier to Get Loans
Banks and other lenders often prefer giving loans to joint property owners. This is because there’s less risk for the bank when there’s more than one person responsible for paying back the loan.
If you apply for a mortgage loan alone, the bank might worry about your ability to pay it back. But if you apply with a co-owner, the bank sees that there are two incomes to rely on for repayment. This can make it easier to get approved for a loan and might even help you get better loan terms.
3. Sharing Responsibilities
Owning property comes with many responsibilities. When you own property jointly, you can share these tasks with your co-owner. This can make property ownership less stressful and time-consuming.
For example, if the property needs repairs, one owner might handle finding a good contractor while the other deals with the paperwork. If it’s a rental property, one owner could handle finding tenants while the other manages the finances.
Sharing responsibilities can lead to better property management because each owner can focus on what they’re best at.
4. Potential for Higher Returns
When you pool resources with a co-owner, you might be able to invest in better properties. These properties often have the potential for higher returns, either through rental income or when you sell the property later.
For instance, you and your co-owner might be able to afford a property in a prime location that you couldn’t buy alone. Properties in good locations often increase in value faster than those in less desirable areas.
5. Risk Sharing
Property ownership always comes with some risks. These might include:
– The property losing value
– Unexpected repair costs
– Legal issues
When you own property jointly, you share these risks with your co-owner. This can make the risks feel less overwhelming. If something goes wrong, you’re not facing the problem alone.
6. Tax Benefits
In Nigeria, there can be tax advantages to joint property ownership. For example, if the property generates income (like rent from tenants), the tax burden is split between the owners. This might put each owner in a lower tax bracket than if they owned the property alone.
It’s important to note that tax laws can be complicated and change over time. It’s always a good idea to talk to a tax expert about your specific situation.
7. Estate Planning Advantages
Joint property ownership can make things easier when it comes to inheritance. In many cases, when one owner dies, their share of the property automatically goes to the other owner(s). This is called the “right of survivorship.”
This can simplify the process of passing on property to heirs. It can help avoid some of the complications and delays that often come with settling an estate.
8. Flexibility in Ownership Structure
There are different ways to structure joint property ownership in Nigeria. You can choose the structure that works best for your situation. Some common options include:
– Joint Tenancy: All owners have equal rights to the property.
– Tenancy in Common: Owners can have unequal shares of the property.
– Partnership: Often used for business properties.
This flexibility allows you to set up the ownership in a way that’s fair and makes sense for everyone involved.
9. Learning Opportunities
When you own property with someone else, you have the chance to learn from each other. Your co-owner might have skills or knowledge that you don’t have.
For example, one owner might be good at negotiating with contractors, while the other is skilled at budgeting and financial planning. By working together, both owners can learn new skills and become better property managers.
10. Social and Emotional Benefits
Owning property together can strengthen relationships. Whether you’re co-owning with a family member, friend, or business partner, working towards a common goal can bring people closer together.
There’s also an emotional benefit to knowing that you’re not alone in this big financial decision. Having someone to share the ups and downs of property ownership with can make the experience more enjoyable.
Things to Keep in Mind
While joint property ownership has many benefits, it’s important to be careful when choosing this option. Here are a few things to consider:
– Choose your co-owner wisely. Make sure it’s someone you trust and can work well with.
– Have a clear agreement. Write down how you’ll share costs, responsibilities, and profits.
– Plan for the future. Discuss what will happen if one owner wants to sell their share or can’t pay their part.
– Get legal advice. A lawyer can help you understand all the legal aspects of joint ownership.
Joint property ownership in Nigeria can be a great way to get into the property market, share costs and responsibilities, and potentially earn better returns. It offers financial benefits, practical advantages, and even social and emotional rewards.
However, it’s not a decision to be taken lightly. It’s important to carefully consider your options, choose your co-owner wisely, and set up a clear agreement. With the right preparation and partner, joint property ownership can be a rewarding experience that helps you achieve your property ownership goals in Nigeria.
Remember, every situation is unique. What works well for one group of co-owners might not be the best choice for another. Always consider your own circumstances and goals when deciding whether joint property ownership is right for you.
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