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Top 5 richest Nigerians retain fortunes…but Dangote loses $400 million in one week


Africa’s richest man and our pride, Alhaji Aliko Dangote, lost $400 million (N80 billion) from his fortune in the last one week, from his $14.8 billion networth on Monday, February 22, he dropped to $14.4 billion by Monday, February 29, 2016.

The N80″billion loss saw the 58 year-old king of cement, sugar, salt and floor and more drop from number 57 to 59 on the Forbes rich list.

The frequent rise and drop in the list are on account of Nigeria’s troubled stock market, plummeting oil prices, unstable rate of dollar against the naira and unclear economic direction of President Muhammadu Buhari.

The other four billionaires retained last week’s figures.

Dr.  Michael Adenuga, Jnr., 62, maintained his $9.9 billion networth, but dropped to number 113 (from 111) on the list. The chairman of Globacom and Conoil rose to $10.1 billion at a point.

Forte Oil’s Femi Otedola, 52, stayed on his $1.9 billion rung like last week’s. From 982, the oil tycoon moved up to 972.

Mrs. Folorunsho Alakija, 65, with $1.5 billion rested on number 1152, an improvement from her 1188 of last week.

And Alhaji Abdulsamad Rabiu, 55, settled on number 1503, from last week’s 1502 with $1.1 billion networth.

The total networth of our richest billionaires dropped from $29.2 billion  to $28.8 billion!


1-March week 1 story page


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