We’ve been told all our lives that debt is bad. Stay away from it. Run from it. But here’s the truth, not all debt is equal.

Debt that goes into consumption, food, rent, school fees, is destructive. It keeps you trapped. But debt that builds a business, acquires assets, or funds expansion is not only healthy, but can be a very powerful tool for your business.

Every major empire you admire today was built on debt. Dangote, the richest man in Africa, is not debt-free. Over the years he has leveraged debt to build his empire. Debt is like a tool, it can be good or bad, it depends on what you use it for.

The miracle here is that you get access to money, you have the ability to use money that is not your own to create something bigger than yourself.

So the next time you hear “stay away from debt,” ask yourself, am I avoiding destruction, or am I avoiding opportunity?

Dr. Smith Ezenagu is the Chairman of Esso Group, a diversified conglomerate shaping real estate, finance, education, and media. Dr. Smith Ezenagu is recognized as a real estate & investment mogul, life coach, and private equity expert. He leads Esso Group and its subsidiaries: Esso Properties (awarded Nigeria’s Most Innovative Real Estate Company in 2024 and recognized as the best real estate company in Nigeria), Esso School of Enterprise (the leading institution equipping entrepreneurs), and Esso Capital (delivering smart, trusted financial solutions across Nigeria).