Investors upbeat as Dangote moves to list $20bn refinery on stock exchange
Alhaji Aliko Dangote

Adebayo Obajemu

The recently published Forbes ranking has revealed Aliko Dangote is the richest man in Africa with a net worth of $13.6 billion. He has retained this position for many years.

Other Nigerians that made the Forbes annual billionaires ranking are Abdul Samad Rabiu and Mike Adenuga

Chairman of Globacom, Mike Adenuga, was ranked third in Nigeria with a fortune of $5.7 billion. He was replaced as the second richest man in Nigeria by Abdul Samad Rabiu, who now has a fortune of $7.4 billion.

According to Forbes, only seven of the 54 countries in Africa are home to billionaires on the list of world billionaires. There are six billionaires in Egypt, five in South Africa, three in Nigeria, two in Morocco, and one each in Zimbabwe, Algeria, and Tanzania.

Of the three Nigerians on this year’s Forbes list, only Rabiu of BUA saw an increase in his fortunes from the previous year. The significant increase in shares of his publicly traded companies, BUA Cement Plc and BUA Foods Plc, was the source of the significant increase.

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