Encomium
Adorable mogul and President of Dangote Group, Alhaji Aliko Dangote can rejoice now that his net-worth is looking up…in one day, he made additional $500 million!
Today (Thursday, February 19, 2015), the 57 year-old giant of cement, flour, sugar, salt and more is worth $16 billion, from $15.5 billion yesterday.
Africa’s richest man and our pride lost $9.1 billion in three months (from November 5, 2014) and last week. And he moved from number 23 on the Forbes rich list (with $25 billion) to number 63 (with $14.9 billion) in the same period.
The loss was on account of the troubled equities market in Nigeria following exit of foreign investors, crash of the naira, fall in oil prices, rage of insurgency and general air of apprehension over the 2015 elections.
The market which recorded a N14.1 trillion capitalisation in the middle of 2014, dropped to N9.1 trillion last week.
But the market appears to be recovering. Today, at 2.30 p.m, market capitalisation stood at N9.783 trillion.
