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.”
