# Africa's Richest Man Fights The Government To Build A $60 Billion Empire

An episode of [Earn Your Leisure](https://invisiblenetwork.ai/podcast/1450211392), 9 Aug 2026, 12 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/8dbc4f54-a337-4481-9ef2-b355012b0a3d/6a2a40a7-99f1-49d3-9484-b4a10024763a/audio.mp3?utm_source=Podcast&in_playlist=eac4c628-29cb-469a-b5c8-b355012b0a48

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## Transcript

[0:00] Speaker 1: Let's talk about Alco dan Goti personal titans. He's a
[0:06] Speaker 1: personal hero of mine when it comes to business. The
[0:09] Speaker 1: richest black person in the world. If you don't know
[0:11] Speaker 1: who Lego dan Golti is, he probably around twenty thirty
[0:13] Speaker 1: billion dollars out of Nigeria and man, he changed the
[0:18] Speaker 1: game so much with his right refinery oil refinery and
[0:22] Speaker 1: he's been fighting against the Nigerian government for some time now.
[0:24] Speaker 1: They've been trying to give him a hard time. Go figure.
[0:28] Speaker 1: But he's taking his company public and I believe it's
[0:31] Speaker 1: on the Nigerian stock market, but now he's taking to
[0:33] Speaker 1: the London stock market. So this is major. This is
[0:37] Speaker 1: big for Africa, this is big for energy independence, this
[0:40] Speaker 1: is big for Nigeria. What do you think about Elligo
[0:45] Speaker 1: dan Golti's IPO on the London stock market.
[0:48] Speaker 2: I think illegal dan Godi is a name that should
[0:50] Speaker 2: be celebrated. It should be bolstered across all social media's.
[0:56] Speaker 2: I think it's it's somebody that our children should know.
[0:59] Speaker 2: We should know because what he's doing is something that
[1:03] Speaker 2: we've never seen before. For one man to use his
[1:07] Speaker 2: business brilliance and his infrastructure to change the GDP of
[1:12] Speaker 2: an entire country. I mean, it's unprecedented. Not looking for
[1:16] Speaker 2: outside people to help. He just said we're going We're
[1:19] Speaker 2: going to do it ourselves. And you're talking about, you know,
[1:21] Speaker 2: oil as a resource. It's something that Nigeria has, and
[1:24] Speaker 2: the fact that they had to export it out to
[1:27] Speaker 2: get it refined and then pay a fee to have
[1:30] Speaker 2: it imported back to them, it just never made sense
[1:34] Speaker 2: to him, and when you say it out loud, it
[1:37] Speaker 2: doesn't make sense in general. And so to be able
[1:39] Speaker 2: to create a refinery in Nigeria based off his resources, right,
[1:45] Speaker 2: you're talking about a guy who's done it in flour,
[1:47] Speaker 2: he's done it in sugar, he's done it in cement.
[1:50] Speaker 2: He has powerful friends and electricity, like all the things
[1:53] Speaker 2: you need. He turned to his community of friends in
[1:58] Speaker 2: the world of business and now has made this a
[2:00] Speaker 2: publicly traded company for Nigerians and now going to the
[2:04] Speaker 2: London stock Market so people can actually have access and
[2:07] Speaker 2: ownership into it. It says a lot. You know, his
[2:11] Speaker 2: net worth quote unquote was at thirty billion. The number
[2:15] Speaker 2: is closer to sixty million. Most people are saying because
[2:17] Speaker 2: of what this means, so they go from like the
[2:20] Speaker 2: number nine or ten export of oil to now one
[2:24] Speaker 2: of the import of oil to now one of the
[2:27] Speaker 2: top ten exports of oil because of this refinery.
[2:30] Speaker 3: It's a huge mission.
[2:32] Speaker 2: He's been on it for I feel like we did
[2:34] Speaker 2: this on our first year. He was just talking about
[2:37] Speaker 2: it in twenty nineteen. So it's seven almost eight years
[2:40] Speaker 2: into this and the refinery's up. Man, I can't wait
[2:44] Speaker 2: to see it. I actually want to see it in person.
[2:46] Speaker 2: Can't wait to speak to him, meet him in person,
[2:48] Speaker 2: to shake his hand. He's one of the first people
[2:50] Speaker 2: that I wrote about when I was teaching financial literacy
[2:53] Speaker 2: fifteen almost years ago. It's incredible. I think people don't
[2:57] Speaker 2: even understand the magnitude of it, and so I'm glad
[2:59] Speaker 2: that we get to highlight it and give him, you know,
[3:01] Speaker 2: all the praise that he deserves, and all his entire team.
[3:04] Speaker 2: I know his daughters are involved in it as well.
[3:06] Speaker 2: He deserves it because that is something that I don't
[3:10] Speaker 2: know if it could be replicated, but the lessons that
[3:13] Speaker 2: can be learned from piling your resources together, creating something,
[3:17] Speaker 2: making a change that's beyond you. He said, this isn't
[3:20] Speaker 2: even about money, This isn't about him. This is about
[3:22] Speaker 2: the future of his country, which is extremely honorable.
[3:25] Speaker 1: Aligo dan Goti is actually David Oh's godfather. Also, if
[3:29] Speaker 1: you don't know the singer when we interviewed david O
[3:32] Speaker 1: and Legos and david Oh's father is a billionaire, and
[3:36] Speaker 1: david O's uncle is Allego dan Goti his godfather, and
[3:43] Speaker 1: Illego dan Goti's brother. He's up there too. But I
[3:49] Speaker 1: gotta be careful with this political stuff because we do
[3:52] Speaker 1: have to go back to Nigeria soon. So I don't
[3:54] Speaker 1: want to offend any any more politicians, for sure. We
[3:57] Speaker 1: don't need that. No, we definitely don't need to offend
[4:00] Speaker 1: no international politicians. Absolutely, But he's been having a fight
[4:03] Speaker 1: with the with the government. Allego dan Goti has been.
[4:06] Speaker 1: They've been, they've been, they've been, they've been at you.
[4:10] Speaker 2: You could imagine people not wanting to see that happen
[4:13] Speaker 2: from external forces.
[4:16] Speaker 3: But you know he's managed to still get it done.
[4:20] Speaker 1: Okay, Well, shout out to a Lego dan got much success.
[4:24] Speaker 1: We look forward. We've been working on We've been working
[4:27] Speaker 1: on trying to meet Aleco dan Goti for a very
[4:29] Speaker 1: long time. Yeah, so I'm sure it will happen when
[4:33] Speaker 1: when it's time to happen. But we look forward to
[4:38] Speaker 1: sitting down with the brother, to to looking at to
[4:41] Speaker 1: visiting his refinery yea, and to really you know, see
[4:46] Speaker 1: how we could we could help move move the situation
[4:49] Speaker 1: forward because it's important. Energy independence is the only way
[4:52] Speaker 1: that Africa is going to move forward. And it's vitally
[4:55] Speaker 1: important that Africa moves forward.
[4:58] Speaker 2: So you know, so I know the initial offer in
[5:01] Speaker 2: Nigeria's you have to be a citizen of the con
[5:05] Speaker 2: like you have to be from a country in Africa.
[5:07] Speaker 2: So I wonder, now that's I'm saying in London out.
[5:11] Speaker 2: I wonder what the sipilations will be for that?
[5:14] Speaker 1: All right, Mike, you go back to the original list.
[5:17] Speaker 3: Thanks Mike. I think you had Palenteer up next.
[5:23] Speaker 1: Year, Palenteer, deaf and destruction.
[5:30] Speaker 3: All right.
[5:30] Speaker 2: So Palenter actually reported as the market closed, so they
[5:34] Speaker 2: beat on revenue. They beat it on adjusted earnest for
[5:36] Speaker 2: Shure US commercial revenue grew to seven hundred and sixty
[5:40] Speaker 2: four million UH and then eb I grew as well,
[5:43] Speaker 2: so a solid quarter for them. I saw a car
[5:46] Speaker 2: picks some quotes I will not read them, but you know,
[5:50] Speaker 2: he is a very interesting guy.
[5:54] Speaker 3: So, I mean, the company did well. It's been getting
[5:56] Speaker 3: beat up.
[5:56] Speaker 2: It had its all time highs last year, and it's
[5:59] Speaker 2: kind of helped pulling back because of the high valuation.
[6:02] Speaker 2: I think that multiple was two hundred and seventy two
[6:05] Speaker 2: hundred and sixty seven x some crazy number got down
[6:08] Speaker 2: obviously with the company pulling back down the sixty seven
[6:11] Speaker 2: which is still pretty high, but it did be on earth.
[6:14] Speaker 2: I think the most important thing we saw was that
[6:17] Speaker 2: the business structure has changed from them predominantly getting fifty
[6:22] Speaker 2: percent of revenue from the government to now getting commercial
[6:26] Speaker 2: enterprise to buy their AAII software. And so you think
[6:30] Speaker 2: about all the US agencies that we're using it, and
[6:33] Speaker 2: I mean, you could like that or not, but it
[6:35] Speaker 2: has changed so now that customers include banks, healthcare systems,
[6:38] Speaker 2: energy companies, manufacturers, retailers, insurance companies, airlines, pharmaceutical firms. They
[6:44] Speaker 2: have expanded their base of customers, which has helped change
[6:47] Speaker 2: the revenue model, which is good because that is something
[6:49] Speaker 2: that is scalable rather than saying, hey, we're going to
[6:52] Speaker 2: be super reliant on the government. So that's good for
[6:54] Speaker 2: them and that's good for the AI story. As well,
[6:58] Speaker 2: because again, if we talk about infrastructure in video, the GPUs,
[7:03] Speaker 2: the memory, all that's part of it. What's the next
[7:05] Speaker 2: layer of the applications? Palentive being an application service, now
[7:08] Speaker 2: be an application. These will benefit so great quarter for them.
[7:13] Speaker 2: Let's see if they can keep that going and maybe
[7:16] Speaker 2: retest some of these all time hius. Now the evaluation,
[7:18] Speaker 2: we gotta see, we gotta we gotta be mindful of that.
[7:21] Speaker 2: That's a that's a hefty, hefty, hefty multiple, meaning that
[7:24] Speaker 2: we're already pricing in the future growth of it.
[7:27] Speaker 3: So just be mindful of that.
[7:29] Speaker 1: Outdated investing rules.
[7:32] Speaker 2: Who uh, I'll go, I'll go down Ian's path here
[7:37] Speaker 2: and say diversification. People believe that diversion. Diversification will reduce risks,
[7:45] Speaker 2: which doesn't necessarily always hold to be true because if
[7:50] Speaker 2: you're diversified across I don't know, thirty stocks in the
[7:56] Speaker 2: market pulls back, that really hasn't reduced your risk. And
[7:58] Speaker 2: so you you know, you want to be concentrated in
[8:02] Speaker 2: an area or a few sectors, you know, pick a
[8:05] Speaker 2: few I know Ian has two tech two in next,
[8:08] Speaker 2: pick a few sectors that that you understand that you
[8:11] Speaker 2: see growth in, not just like growth now, but future growth,
[8:16] Speaker 2: future guidance, whether that's you know, technology or whether that's
[8:20] Speaker 2: the energy or that's healthcare. Look inside those those sectors
[8:24] Speaker 2: and especially inside those ecs. If you're going to go
[8:26] Speaker 2: stocks pick one or two, you don't need fifty companies.
[8:29] Speaker 2: You don't even need thirty companies. You need a solid
[8:32] Speaker 2: core of companies that you understand. You know the business,
[8:36] Speaker 2: you might know the CEO if you if you're really
[8:38] Speaker 2: locked in, but you understand the growth story.
[8:40] Speaker 3: So I would say that.
[8:42] Speaker 1: Shout out to the green Jacket community in Eyo University
[8:45] Speaker 1: of we liieve it's one hundred and sixty members now, yeah,
[8:48] Speaker 1: so that's the green Jacket club. If anybody that gets
[8:50] Speaker 1: over one thousand percent rate of return, yeah, on an
[8:53] Speaker 1: investment or core option trade. We have over one hundred
[8:57] Speaker 1: and sixty members in Eyo University with green jack Is
[9:00] Speaker 1: that earned the green jacket?
[9:01] Speaker 2: Well, we got one hundred and sixty in class of
[9:04] Speaker 2: twenty six, so the cut off for that was.
[9:06] Speaker 3: No, just in general, Yeah, no, no, it's more than that.
[9:08] Speaker 1: So I saying just in general, yes, in general, yeah,
[9:14] Speaker 1: but we're so proud of you guys. Yes, thank you
[9:16] Speaker 1: so much, thank you so much for being a part
[9:19] Speaker 1: of ey University.
[9:20] Speaker 3: You are remember I am a Remember you remember I
[9:24] Speaker 3: am a Remember Yeah. Shout out to the Jackers. We're
[9:26] Speaker 3: looking forward to me and y'all. The biggest market surprise,
[9:34] Speaker 3: the biggest market surprise in general, oh the past week,
[9:38] Speaker 3: because we've had a hell of a week.
[9:43] Speaker 2: I think that that that Leopold story is pretty pretty alarming,
[9:46] Speaker 2: a lot of lessons. When I text you as it happened,
[9:49] Speaker 2: I was like, this is gonna be a movie. Somebody's
[9:50] Speaker 2: gonna make a movie about this. To see how fast
[9:53] Speaker 2: Citadel came in and swooped up that portfolio. That was
[9:57] Speaker 2: interesting to see the companies that he was invested in.
[10:01] Speaker 2: I think that was interesting. But again I don't think
[10:04] Speaker 2: he was wrong and is in the companies he was
[10:07] Speaker 2: invested in. I think his strategy was wrong, but he
[10:10] Speaker 2: was He's they wouldn't want the portfolio if it was
[10:14] Speaker 2: companies that were going to tank or companies that you
[10:18] Speaker 2: know would be delisted. There's some solid companies that are
[10:21] Speaker 2: in that portfolio that they're going to have a ton
[10:24] Speaker 2: of growth still to go. I know blue Energy was
[10:26] Speaker 2: something that went crazy this year saying this obviously has
[10:28] Speaker 2: grown crazy over the past eighteen months.
[10:32] Speaker 3: So yeah, man, that.
[10:34] Speaker 2: That what transpired on Thursday or why whatever day it was,
[10:39] Speaker 2: that was that was pretty surprising to me.
[10:40] Speaker 1: He could be right and still be wrong. Somebody told
[10:42] Speaker 1: me this about life. In fact, sometimes it's not about
[10:44] Speaker 1: right and wrong, sometimes about right and smart.
[10:48] Speaker 3: I'll repeat that. We just heard this.
[10:50] Speaker 1: Yeah, it's not necessarily about right or wrong, it's about
[10:53] Speaker 1: right and smart. So Leo, he wasn't wrong in his estimate,
[10:59] Speaker 1: but was he He's smart and doing the leverage play
[11:04] Speaker 1: and being so vocal and different things because he's right
[11:07] Speaker 1: about the stocks, but he's still lost. Sometimes you could
[11:10] Speaker 1: be right and still lose.
[11:11] Speaker 3: Lose. You know what, he didn't have Tom. You have
[11:17] Speaker 3: toime he wasn't. Tom wasn't an asset.
[11:19] Speaker 2: And we always say that make time your number one
[11:22] Speaker 2: asset when you're investing. So if you're going stocks, make
[11:25] Speaker 2: sure you long term you keep them five, ten, fifteen, twenty,
[11:29] Speaker 2: maybe you never sell them, you pass them down. If
[11:31] Speaker 2: you're doing options, give yourself as enough time as possible
[11:34] Speaker 2: because when that expiration starts to near and that data
[11:39] Speaker 2: starts to decay, it's gonna be tough to come back
[11:42] Speaker 2: from so make sure you give yourself time. If he
[11:43] Speaker 2: had more time and he didn't over leverage, he could
[11:47] Speaker 2: have probably stood for another few weeks to

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