Mr Dangote’s wealth is on course to see greater boost later in 2022 when his $19 billion petroleum refinery project is expected to be delivered.

By Ronald Adamolekun


Aliko Dangote recorded a boost of as much as $1.3 billion in his fortune in the year to January 21, a period that was a blessing to investment for shareholders of his cement firm, Dangote Cement Plc.

At $20.4 billion according to Bloomberg’s Billionaires Index on Friday, the wealth of Africa’s richest man now approaches the value of the economy of the entire nation of Senegal, which the World Bank estimates to have a gross domestic product of $24.9 billion.

Dangote owes the latest rise in its fortune to the execution of the second tranche of the share buyback of his cement firm this week, which investors are betting will lift the valuation of the company further.

Dangote Cement has so far yielded 11 per cent since the turn of the year, firming up its reputation as Nigeria’s biggest company by market value at a market capitalisation of N4.9 trillion as of Friday.

It contributes roughly half of Dangote’s wealth, reaching its peak level of N265.7 per share since 2010 on Friday.

The mogul, Bloomberg reported, is among the 35 billionaires of the top 100 in the world that recorded an increase in their wealth in January. The most phenomenal advance was the jump by $13 billion to $89.5 billion in the riches of India’s most affluent man, Gautam Adani.

Dangote’s wealth is on course to see a much greater boost later in 2022 when his $19 billion petroleum refinery project is expected to be delivered.

The 650,000 barrels per day capacity refinery is said to be the largest single-train refinery in the world and is located on a vast expanse of land, about six times the size of Victoria Island.

The refinery is expected to wean Nigeria off its almost absolute dependence on imported fuel and transform it into a net exporter, helping the government to conserve scarce forex.

Dangote’s investment ambition knows no bounds, and the industrialist has told the Financial Times his intention to buy an English football club when his refinery project is done and dusted. David Pilling, the Financial Times journalist who interviewed him on the subject in 2018, said Dangote talked of buying Arsenal “as though discussing (buying) the latest model of iPhone.”

https://www.premiumtimesng.com/business/business-news/507142-dangotes-wealth-surges-by-1-3-billion-in-three-weeks-nears-senegals-gdp.html

Nice one

Business make sense ooo

Hezzyluv:
Business make sense ooo : of

Are you just knowing?


If you like go and waste time gathering papers and be calling them Masters and PhD. Papers your children can not inherit when you die.

Even with the pandemic, this man is still doing well. I await a greater grace,Amen.

With all the Monopoly and special favours he’s currying from his brothers in Aso Rock, he ought to be getting more than that

Soon dangote will be richer than so many African country

AntiBMC:
With all the Monopoly and special favours he’s currying from his brothers in Aso Rock, he ought to be getting more than that

Must you always wail?

Congrat to Dangote

DubaiLandLord2:
Ibo

will keep tormenting you

Igbos will come here and shout monopoly now.. but will not talk about government favour of airpeace

DubaiLandLord2:
Ibo

Erudite SKULLar!

Surges courtesy of govt backed monopoly.

His rift with BUA sugar and Ibeto cement are eye openers how dude uses govts in power to maintain monopoly.
Abi when buhari closed land borders and gave only him exemption?
Ifeanyi Uba once accused him of being behind d dollar scarcity cos govt was giving him subsidised dollars to build his cement factory abroad.
Dangote never sued for defamation or even threatened to sue cos na true.
Make we hear word abeg

Say no to monopoly

The real baba olowo

DubaiLandLord2:


Must you always wail?

Congrat to Dangote

On the contrary, you are the one crying on my mention. I said what I said. If you don't like... kindly sit on a barbwire.

Again, quota system/fulani hegemony to the rescue. He is being given monopoly. On equal grounds with other business owners, I doubt he would even see their backs.

AntiBMC:


On the contrary, you are the one crying on my mention. I said what I said. If you don't like... kindly sit on a barbwire.

No dey use your wailing disturb us on Nairaland.

Dangote no be the only business man Government dey support.

You can kill yourself if you no like as the man is getting more wealthy.

Typing

AntiBMC:
With all the Monopoly and special favours he’s currying from his brothers in Aso Rock, he ought to be getting more than that

True

DubaiLandLord2:
No dey use your wailing disturb us on Nairaland.

Dangote no be the only business man Government dey support.

You can kill yourself if you no like as the man is getting more wealthy.

The only people that consider the truth as wailing are the BMC urchins— nairaland chapter.

Dangote is being breastfed and bottle-fed so why won't he be wealthy.

Uncle take several seats abeg.

Government backed surge. Mtchewwwwwww !







..

AntiBMC:



The only people that consider the truth as wailing are the BMC urchins— nairaland chapter.

Dangote is being breastfed and bottle-fed so why won't he be wealthy.

Uncle take several seats abeg.

Mtchewww

Unnecessary wailing as if Alex Onyeama is not been breastfed.

Alaye shift jawe

AntiBMC:
With all the Monopoly and special favours he’s currying from his brothers in Aso Rock, he ought to be getting more than that

At least he worked hard to get it or did he get it by coming to nairaland complaining..he worked hard you too do the same...

DJ cuppy Godfather!

Wetin concern me

Ghj

dalongjnr:
Even with the pandemic, this man is still doing well. I await a greater grace,Amen.

...at the expense of you and other hardworking, innocent Nigerians.

Foolish black man won't cease to surprise me.