Aliko Dangote, Nigerian entrepreneur, is now worth N4.3 trillion naira, a recent Forbes ranking has shown.
Nigeria’s 2017 budget was N7.298 trillion and Dangote’s new net worth is more than half of it.
His net worth, which is put at $12.2 billion, is five times the 2017 budget of Lagos state, which was N813 billion.
According to Forbes, Dangote’s wealth grew by $100 million in 2017, making him Africa’s richest man for the seventh consecutive time.
“The richest African, for the seventh year in a row, is Nigerian cement and commodities tycoon Aliko Dangote, with a net worth that Forbes pegs at $12.2 billion. That’s up $100 million from a year ago,” the Forbes report read.
“Dangote is looking beyond cement –his most valuable asset – and has been investing in a fertilizer production company and a large oil refinery. Dangote Fertilizer is expected to start operations in the second quarter this year.”
The 23-man list features two other Nigerians, Mike Adenuga and Folorunsho Alakija.
Mike Adenuga is ranked fifth on the list with a net worth of $5.3 billion while Alakija is ranked 15th with a net worth of $1.6 billion.
The list has nationals from a total of eight African countries. South Africa has eight, six are from Egypt, three from Nigeria, two from Morocco and one each from Algeria, Angola, Tanzania, and Zimbabwe.
Editor’s note: $=N360 (CBN approved rate for banks, investors, and exporters)
The Cable
Nigeria’s 2017 budget was N7.298 trillion and Dangote’s new net worth is more than half of it.
His net worth, which is put at $12.2 billion, is five times the 2017 budget of Lagos state, which was N813 billion.
According to Forbes, Dangote’s wealth grew by $100 million in 2017, making him Africa’s richest man for the seventh consecutive time.
“The richest African, for the seventh year in a row, is Nigerian cement and commodities tycoon Aliko Dangote, with a net worth that Forbes pegs at $12.2 billion. That’s up $100 million from a year ago,” the Forbes report read.
“Dangote is looking beyond cement –his most valuable asset – and has been investing in a fertilizer production company and a large oil refinery. Dangote Fertilizer is expected to start operations in the second quarter this year.”
The 23-man list features two other Nigerians, Mike Adenuga and Folorunsho Alakija.
Mike Adenuga is ranked fifth on the list with a net worth of $5.3 billion while Alakija is ranked 15th with a net worth of $1.6 billion.
The list has nationals from a total of eight African countries. South Africa has eight, six are from Egypt, three from Nigeria, two from Morocco and one each from Algeria, Angola, Tanzania, and Zimbabwe.
Editor’s note: $=N360 (CBN approved rate for banks, investors, and exporters)
The Cable
