Tag Archives: Dangote

Dangote, other world billionaires lose $1.4 trillion

Africa’s richest man, Aliko Dangote appears to be winning in spite of the economic headwind which has sent south, the net worth of many billionaires around the world in 2022. According to the Bloomberg Billionaire Index, Dangote’s net worth is currently valued $20.2 billion, making him the 68th on the global billionaire list as of the time of this report. ...

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Refinery: Report says Dangote currently broke

A new report claims that Africa’s richest man, Aliko Dangote, does not have the kind of money needed to complete his refinery by 2023. The report published by Fitch, the world’s biggest global rating agency, alleges that the Nigerian billionaire requires an additional $1.1 billion (900 billion) to complete the refinery but has invested all his cash and even borrowed ...

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Dangote records $915 million profit in Q1, now worth $20bn

Aliko Dangote, the richest man in Africa, posted decent gains in Q1 despite increased geopolitical uncertainty and high inflation. Bloomberg Billionaires Index data shows that the wealthiest black man in the world now has an estimated net worth of $20 billion and posted gains of about $915 million in the first quarter. Additionally, he ended the first quarter as the ...

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Why FG should ban export of maize- Dangote reveals

The Chief Executive Officer of Dangote Group, Alhaji Aliko Dangote, has explained why the Federal Government should place a ban on the exportation of maize. Africa’s richest man said that the ban has become necessary in order to ensure food security in the country in the face of the ongoing war between Russia and Ukraine, which poses serious challenges for ...

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Forbes: Dangote retains Africa’s richest person

Nigerian billionaire Aliko Dangote has topped the 2022 list of Africa’s richest persons for the 11th year in a row, Forbes magazine said in a report. Dangote’s wealth jumped from $12.1 billion last year to an estimated $13.9 billion. Forbes attributed the growth to a 30% increase in the stock price of Dangote Cement, his most valuable asset. “A surge ...

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Dangote Cement Plc secures SEC’s approval to file Annual Financial Statement

Dangote Cement Plc has announced that the Securities and Exchange Commission (SEC) has granted the company approval to file its Annual Audited Financial Statements on or before February 28, 2022, which is within sixty days of its year-end. SEC also granted approval for Dangote Cement not to file its Fourth Quarter Unaudited returns within thirty days of its ending period. ...

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Dangote’s wealth grows by $2.3 billion this year

Aliko Dangote, the richest man in Africa, is on track to close the year at the richest level he has ever been since 2014 buoyed by the second straight year of gains at his cement unit. The rising share price of his Dangote Cement Plc and higher oil and fertilizer prices helped boost the 64-year-old Nigerian businessman’s wealth by as ...

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Why Dangote can’t buy enough tomatoes despite massive wealth

Aliko Dangote, Africa’s richest man, is facing uncertainties in probably the most problematic of his several investments: a 1,200 tonne per day plant that processes tomato, now gasping for supply amidst pressure of overwhelming national demand. The tomato factory – the continent’s biggest – can only produce at one-fifth of its capacity, considering that farmers lack adequate resources for cultivation, ...

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Why NNPC is seeking equity participation in Dangote Refinery, others- Official

The Nigerian National Petroleum Corporation (NNPC) has explained that the government firm in engaging in equity participation in some private refineries. The corporation noted that the move is on  in line with a Federal Government’s policy directive which states the mandatory participation of the corporation in any private refinery that exceeds 50,000 barrels per day It was learnt that the  ...

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We won’t increase prices of cement despite devaluation of Naira by CBN- Dangote Cement

The Dangote Group has assured that its  cement products would not change despite the devaluation of the naira by the Central Bank of Nigeria (CBN). Recall that Dangote Cement has been making efforts to further increase the capacity of its cement production. The intimation was made by the Sales Marketing Director of Dangote Group, Rabiu Umar during a chat with ...

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