Word: nigerias
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...whereabouts of two Harvard graduates from Nigeria who failed to appear in court Monday to settle their discrimination suit against Hayes-Bickford remain a mystery...
Peanuts & Petroleum. Even before Britain withdrew five years ago, Nigeria had a flourishing trade, exporting peanuts, cotton, palm kernels and cocoa and importing in exchange manufactured goods, foods and tobacco The first native millionaires made their money by competing with the white man for his trade. Among Nigeria's richest businessmen is Alhaji Sanusi Dantata 46, who buys and ships much of the rich Kano region's peanut crop. Dantata's agents last year bought 84,000 tons from small farmers, paid with traditional handfuls of coin counted out in dusty village squares. Sir Odumegwu Ojukwu...
...today's new Nigeria, businessmen are more likely to succeed by producing new goods or services. Sir Mobolaji Bank-Anthony, 59, known as "The Black Englishman" for his impeccable manners and imperturbable air, began by importing cuckoo clocks and marble statues. He now controls or owns part of ten companies, including a tanker fleet and a charter airline. Emmanuel Akwiwu, 43, earned law degrees at Cambridge; returning home just as Nigeria's oil boom began he organized a company that now has 70 vehicles, hauls oil rigs and supplies for British Petroleum Ltd. Chief Shafi Lawal...
Bayo Braithwaite, 36, one of Nigeria's younger businessmen, left a British insurance company to found a firm that would write life insurance on Nigerians which the British underwriters avoided. So successful has Braithwaite been that his African Alliance Insurance Co Ltd occupies a six-story Lagos home office and has 300 bush-beating agents. Braithwaite lives in an elegant house in suburban Ikoyi, where glass and concrete are deliberately intermixed with African folk art to prove that "the two need never clash...
...with Nigerian business. The Nigerians feel that they and their onetime white masters need never clash. "The time is coming," says Timothy Udutola, "when we will produce more than we can consume and we will have to look outside Nigeria for markets" Against that time, Nigeria is seeking joint ventures in Europe and the U.S., has also concluded negotiations for eventual associate membership in the European Common Market. Already it exports more to the Market than to its old master, Britain...