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Nairaland Forum / Nairaland / General / Politics / The Ibru(s) (7407 Views)
When Senator Ben Bruce Gave Maiden Ibru A Deep Peck (picture) / Kanayo O. Kanayo Blasts Reno Omokri For Mocking Peter Obi Over Mr Ibru / MKO Abiola: Proceed To Restructure Nigeria, Cecilia Ibru Urges Buhari (2) (3) (4)
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Re: The Ibru(s) by KunleMax(m): 4:50pm On Nov 08, 2023 |
KunleMax:And they are still being mentioned in 2023. The Idans of Nigerian Generational wealth...
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Re: The Ibru(s) by OGterry: 2:06pm On Nov 09, 2023 |
KunleMax:I just finished reading the article and my key take away is PWC saying the three leading family businesses in Nigeria are worth over $20B. And they cited Dangote, Ibru, dantata, Folawiyo, Doyin, as the leading family businesses. Does this not effectively put to rest the Ibru networth contest btw kalu & casualobserver? Because if dangote is worth about $12b (judging from the value of his companies on NSE & public verified networth), that leaves $8B btw the other top two family companies, abi? Or am I missing something? 2 Likes |
Re: The Ibru(s) by OGterry: 2:30pm On Nov 09, 2023 |
Moh247:I totally agree with this assessment. Not just in Lagos but in Nigeria and even in Africa. The PWC statement might have given us a clue that the Ibrus are still dollar billionaires but they are apparently not richer than Dangote currently. Dangote has done really well cos he was barely worth $3B 14yrs ago. Rabiu has done amazingly well too, he wasn't even on Forbes list as at 5-10yrs ago. Otedola that made the Forbes list in 2009 along with Dangote has since fallen off. Although I expect him to return given the commendable performance of Geregu power on the stock exchange. Above all, hats off to the Ibru, Dantata & Folawiyo families. Maintaining generational wealth is not easy at all (not to talk of doing it in a country like Nigeria). 1 Like |
Re: The Ibru(s) by KunleMax(m): 12:37pm On Nov 10, 2023 |
OGterry:That's what it means ultimately. The family should be presently worth btw $3-5B like Mr. Kalu earlier stated. He's been spot on. Another point I took away from the article is that the PWC senior partner stated that the top 100 billionaires in Nigeria have a combined networth of $68B. Now Dangote, Rabiu and Adenuga the three top verifiable dollar billionaires are worth $26B combined. That leaves $42B btw 97 other billionaires in Nigeria. $42b ÷ 97, tells us that these other 97 billionaires are worth an estimated $450m each. So how is it possible that the Ibru family is worth just $500m or that Elumelu is worth $135m? You realize that when you put casualobserver's argument under a simple scrutiny, it does not track or make sense. We didn't have a recent verifiable public document or statement through out this argument, but thank God one came out just last month. We have an idea now. Anyone arguing further is just being deliberately foolish. |
Re: The Ibru(s) by casualobserver: 1:54pm On Nov 10, 2023 |
OGterry: Abeg I have told you people to stop citing me in your beer parkour gossips. I deal in facts and evidence. When I make a claim I provide evidence/ citations. Dangote and Adenuga alone are worth $20b. Your so called article where is it? Any properly educated person who has been to a university and written a dissertation knows you have to provide citation for your claims. The whole point in going to university is to train the mind in how to think critically and based on evidence…..not “they said”, “they said”! PWC can never cite IBRU as top3 in Nigeria. I challenge you to provide the article. I repeat the Ibrus are past glory and yesterday’s story and I would be shocked if they are collectively worth $1b today. I stand by by claim. You people should leave me out of your quackery and dick measuring contest. If it were your own dicks I might even understand. I don’t know what kind of grown men spend months talking about, are so obsessed with and take delight in making false claims about another man’s dick. What do you gain from it? 1 Like
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Re: The Ibru(s) by KunleMax(m): 6:15pm On Nov 10, 2023 |
casualobserver:You see how foolish you are? No one quoted you. Na you jump come here. Dangote is worth 13.5B$, Rabiu 7.6b$, Adenuga $5.6b = $26.7B. (2023 networth). PWC senior partner, Sam Abu, stated that the top 100 billionaires in Nigeria are worth $68B. Which leaves 97 billionaires with the remaining $41.3B, that's atleast $400m per billionaire. Mugu So how's Elumelu worth $135m? Or Elumelu is not amongst the top 100 billionaires in Nigeria? He also stated that the three leading family bussinesses in Nigeria are worth over $20b, (Dangote, Ibru, Dantata, Folawiyo), were the family bussinesses mentioned in that article. Infact, the SA to president Tinubu on bussiness environment, specifically identified the Ibru family. Go read the article online. You don't want us to count on the professional opinion of a top asset manager, or the verifiable statement made by a PWC senior partner, or even the word of the SA to the president, but you want us to believe you a faceless font on nairaland? Even when you have shown that you are incorrigible and foolish. Ibru family is old glory yet most of their bussinesses and investments are still standing, and they are still being mentioned as one of the top family business in Nigeria even in 2023. This same family was rated by Forbes as one of the top ten leading family bussiness in AFRICA in 2014. Dantata & Folawiyo families are also old glory & yesterday's story too? Ode!! How the simplest of points fly over your head is beyond me. But then again, you have a porous brain. You clearly have a thing against the Ibrus. Maybe you or your parents were sacked from one of their companies, or your family lost money in oceanic bank. Or something else... Same you said Aden rivers is not a major palm oil player in Nigeria. PZ Wilmar documents were posted here that proved you wrong. You for respond to that one nah. Shameless fool. See ehn!! You be mad person! abeg get out. 1 Like |
Re: The Ibru(s) by okoro: 6:20pm On Nov 10, 2023 |
Sergio101:mrvitalis Here is another pig and idiot saying Lagos is a no mans land 1 Like |
Re: The Ibru(s) by KunleMax(m): 6:24pm On Nov 10, 2023 |
okoro:There's really no need for the denigrating cuss words. But Lagos is not a "no man's" land. Sergio101 take note. 1 Like |
Re: The Ibru(s) by OGterry: 4:36pm On Nov 15, 2023 |
casualobserver:What does Adenuga have to do with this family business topic? Was he mentioned in the article as one of Nigeria's top family businesses? Speaking of the article, a quick Google search would have saved you from further embarrassment. You say false claims? Everything said here has been backed up but in your stubbornness or stupidity you chose not to see the points, or maybe you are just not capable of comprehension. Ibrus are old glory? Can you name a bigger player in Apapa than the Ibrus? Do you know how much the Ibrus rake in from their port management operations in apapa? Their agro, shipping, oil operations, etc are also still intact but they are yesterday's story? You would soon tell us that the Rothschilds and Rockefeller families are old glory and yesterday's story. Damn! Your Ignorance is on steroids. You talk about proper education but you are certainly lacking it. Christ!! 2 Likes
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Re: The Ibru(s) by OGterry: 7:13pm On Dec 11, 2023 |
KunleMax:Not just Georgia, but in the state of Maryland also. Donors to the democratic party too. If I recall correctly, One of their associates was an adviser to president Obama. |
Re: The Ibru(s) by OGterry: 11:05pm On Dec 21, 2023 |
KunleMax:I just came back to say this CasualObserver font reminded me of the JamesG font on the "Monopoly Gone Wrong - The Ibru Group" thread in 2009. The foolishness and ignorance displayed by JamesG on that thread was epic, even amidst the schooling from the likes of Sir Jarus. Y'all can check out the thread to really get what I am saying. |
Re: The Ibru(s) by OGterry: 2:16pm On Jan 05 |
casualobserver:"The days of federal palace and Sheraton are over, when last did you hear of Sheraton or FPH except for the balmoral hall as a venue for weddings and parties?" Your statement above I quoted is so funny. The days of Sheraton and federal palace are over but Ikeja hotel Plc (holding company of federal palace and Sheraton) was one of the top ten performing stocks of 2023 on NGX? 😂 No worry we go dey bust your lies and misyarnings as time progresses. Olodo
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Re: The Ibru(s) by casualobserver: 4:01pm On Jan 05 |
OGterry: Your problem is ignorance. Best performance means nothing when talking about the value of a company. If a street seller uses his N10,000 to buy pure water and makes 50% profit, he is still worth only N15,000. The man who manufactured the pure water and sells N10.5b worth of pure water to distributors around the country with N10b in costs has a lower performance because his profit margin was 5% but who is wealthier? If you are rating both based on performance you will say the street seller performed better than the manufacturer but one is worth only N15,000 while the other is worth N10.5b. So when you ignorantly talk of “performance” what exactly are you talking about and what does it mean especially in relation to the subject matter, I.e the wealth of an individual? If you make 100% profit and you are the top performer it does not mean you are rich, if your shares are the best performing stock on the index and your company is a small company, it does not mean you are rich, what matters is the value of your stake in the company. Please go and check the market cap of Ikeja hotels plc. They are only worth N24b or less than $20m. Dangote is not on the list of top 10 performers but Dangote’s profit in a year is probably more than the value of all those companies combined. In case you don’t understand what that means, Dangote can buy all those companies with the profit it makes in just 1 year. If you do not understand things do not comment. Performance of a company has nothing to do with its value. You clearly do not understand what stock market performance of a company means. You clearly don’t own any shares. The problem with ignoramuses like you is you comment on things you have no knowledge of and make foooools of yourselves for the world to see. If you knew what you were talking about, I.e wealth, you would not have brought up the performance of a relatively small company as evidence of wealth. 1. It is a small company, 2) performance is no indication of wealth. We are talking about dollar billionaires and evidence of such and in your ignorance and shamelessness you had the gall to disturb my peace to mention a company that is only worth $20m and of which the Ibru’s own less than 50%? We’re you dropped as a child? A billionaire will get more than twice the value of Ikeja hotels plc in a year just by putting his money in US government bonds (currently 4%) and going to sleep. Having said that, the Ibru’s own less than 50% of the company ( so their stake and wealth tied up in the company is less than $10m) and the company is a serial loss maker. See below. Do not drag me into this discussion anymore, I am tired of forced engagements with ignoramuses. I warned you cohorts to find better things to do than occupying your time with the perceived wealth of others and spend time trying to get your own. PS: feel free to use google to find out the meaning of market cap and don’t bother thanking me for educating you, that’s my contribution to charity and the less privileged and the mentally deficient and unfortunate of society. Finally, I keep telling you, if the Ibru’s who have been in business for over 60 years were billionaires, they would be on the Forbes list. There are ways to value the wealth of those whose businesses are private especially a business that has operated for over 60 yrs. Alakija and Adenuga’s businesses are private….but m0r0ns like you think you have more knowledge from beer parkour heists that Forbes. You think billion dollars is beans? Or is it that you are confusing dollar billionaire with Naira billionaire? People like you are why the government is introducing school feeding programmes so that the citizens can get nutrients as children to develop their brains as youths when the brain is still able to develop so they don’t come on Nairaland as adults typing nonsense. 2 Likes
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Re: The Ibru(s) by OGterry: 7:47am On Jan 06 |
casualobserver:Like it's been said here, you lack sense and always muddle things up. Nobody is comparing Ikeja hotel plc to any other company in terms of value or market cap. You said "the days of federal palace and Sheraton are over". Now how can it be over when it's shares was amongst the top ten performers of 2023? Now where did that performance come from if Sheraton and federal palace were dead? If you don't see the point here then you are truly daft. Yes Ikeja Hotel plc is worth just about $20m (22b) on the stock exchange, now aside transcorp hotels plc worth about $40m or so, which hospitality group is worth more than ikeja hotels plc in Nigeria? Give me a name. Always learn to understand the line of an argument before jumping on it and giving an "off the point" reply. I would also have you know that market cap of a company on the nigeria stock exchange sometimes dont truly represent the true worth of a company, for example, the Ibrus and co-shareholders sold about 67% of Abuja Sheraton hotel to 22 hospitality limited for over 13B naira just a little over a year ago. Yet Ikeja Hotel Plc is worth just about 20B on the stock exchange? Lmao. Some companies on the stock exchange are overvalued (eg. Buafoods), while some are undervalued (eg FUGAZ banks). But I am sure you don't understand this. We are talking strictly hospitality and I was solely addressing your comments on Sheraton and federal palace. I don't know how you jumped to a totally different issue in your reply. Read to understand and stop conflating the discussion. Saying the Ibrus must be on forbes if they were billionaires also tells me that you dont know much, there are multiple reputable sources that have credited the Ibru organisation as a multi-billion dollar conglomerate (although I am personally not sure of their current worth). Cicilia was worth over $3b in 2009 when she was investigated and she forfeited about 40% ($1.2b) of her assets to the authorities. Was she on forbes list in 2009? Keep fooling. A trained banker and asset manager gave credence to Kalu's point and said Olorogun was that big and was possibly worth the $10b figure, but you think you understand what a billion dollar is but a reputable asset manager doesn't. The delusion!! Lastly, no billionaire in Nigeria can make twice the value of Ikeja hotel plc ($44m) just by putting it in a US govt bond at 4% and going to sleep. Nobody in Nigeria has $1B in cash to invest in the US bond market. Oga stop lying nah. The lie is now too much and annoying. Stop making comments that facts negate. You are trying too hard to come off as smart, it's not working. You can see I likened you to a certain JamesG font from 2009. Foolish boy! |
Re: The Ibru(s) by OGterry: 5:04am On Jan 13 |
ChidiKalu:I just found this and thought to share to support the documents you earlier shared. This is a STUDY on the "Nigerian palm oil industry" funded by UK's department for international development (DFID) How can every research/study (foreign & domestic) point to the fact that Aden River (Ibru) is a major industrial player in the palm oil industry, yet someone who claims to be a palm oil guy and industry consultant foolishly argues otherwise? In fact this same person had never heard of the POFON you spoke about. This same boy said 5k hectares of palm plantation is small & insignificant (in Nigeria) yet Ada Palms reputed to be one of the largest palm oil plantations in Nigeria is less than 5k hectares. The reality is that a lot of the major private plantations in Nigeria are less than 5k hectares, except the foreign/govt owned. The idiot had no reply after you posted the Wilmar documents. That boy is literally an ignorant two faced liar. A clueless mofo.
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Re: The Ibru(s) by OGterry: 7:33am On Jan 13 |
KunleMax:Apparently he's the one oh. The silly casualobserver should tell us a more prominent indigenous player who operates above this level in the palm oil sector in Nigeria (the only indigenous player we know perhaps on similar level is Chief JB Adebutu). He should give us a name and the name of the person's palm oil company. There are facts and evidence on ground that points to the fact that Emmanuel Ibru is a palm oil big boss. The man is grounded and entirely involved in the palm oil industry across board. But the fool doesn't even know. |
Re: The Ibru(s) by Lifemanage: 7:16pm On Jan 14 |
casualobserver:I like ur write up. U re definitely very informed |
Re: The Ibru(s) by OGterry: 8:05pm On Jan 14 |
Lifemanage:Someone that doesn't know POFON exist is informed about the palm oil industry? Lmao. I am sure you've not gone through the entire thread. |
Re: The Ibru(s) by Lifemanage: 8:07pm On Jan 14 |
OGterry:Na now I see am say na u be the deal man...u try. Respects 1 Like |
Re: The Ibru(s) by OGterry: 8:21pm On Jan 14 |
OGterry:Anyways, this is what it takes to develop one hectare of palm oil plantation in Nigeria currently (minus land cost). Source: Churchill Oboh, acting head, Edo State Oil Palm Programme (ESOPP).
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Re: The Ibru(s) by OGterry: 10:47pm On Jan 14 |
OGterry:
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Re: The Ibru(s) by KunleMax(m): 3:00pm On Jan 31 |
Lifemanage:😂 Baba see the light. 1 Like |
Re: The Ibru(s) by RansomeKuku: 8:36pm On May 08 |
Ahmeduana:Hmm!! The family owns continental fisheries? Are you sure? Cos it's the "Osadjere fishing company" that I know they own with it's own fishing jetty in Apapa. 1 Like |
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