ADVERTISEMENT
  • The Membership Club
  • #EndSARS Dashboard
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Thursday, May 19, 2022
Premium Times Nigeria
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • COVID-19
    • News Reports
    • Special Reports and Investigations
    • Data and Infographics
    • Health Specials
    • Features and Interviews
    • Multimedia
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Data and Infographics
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • #PandoraPapers
  • AUN-PT Data Hub
  • Home
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • COVID-19
    • News Reports
    • Special Reports and Investigations
    • Data and Infographics
    • Health Specials
    • Features and Interviews
    • Multimedia
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Data and Infographics
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • #EndSARS Dashboard
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • #PandoraPapers
  • AUN-PT Data Hub
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
Aliko Dangote, Chairman Dangote Cement

Aliko Dangote, Chairman Dangote Cement

Dangote’s wealth surges by $1.3 billion in three weeks, nears Senegal’s GDP

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.

byRonald Adamolekun
January 21, 2022
2 min read

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.

Dangote refinery
Dangote refinery

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.”

  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

CITIZEN-FM AD

1X Bet AD


Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate



TEXT AD: To place an advert here . Call Willie - +2348098788999


JOIN THE CONVERSATION

  • Disqus (5)
premiumtimes





PT Mag Campaign AD

Previous Post

Gunmen kill oil worker in Akwa Ibom – Police

Next Post

Electoral Bill: INEC, CSOs, Jega express concern over proposed increased campaign funding

Ronald Adamolekun

Ronald Adamolekun

More News

MTN Nigeria’s payment service bank subsidiary MoMo PSB starts operation

MTN Nigeria’s payment service bank subsidiary MoMo PSB starts operation

May 19, 2022
President Muhammadu Buhari [PHOTO CREDIT: @Buharisallau1]

JUST IN: Buhari signs health insurance bill into law

May 19, 2022
Rotimi Amaechi and Abdullahi Ganduje

2023 Presidency: Amaechi was persecuted for asking us to join APC – Ganduje

May 19, 2022
President Muhammadu Buhari on a plane

Buhari departs for UAE on condolence, to meet new President

May 19, 2022
Airtel office

Airtel launches Nigeria payment service bank unit SmartCash PSB

May 19, 2022
Troops on day 1&2 of Ex FLINTLOCK. USArmy Counter Terrorism exercise with Nigerian Navy SBS and 707 SF Bde are working as a Special Operations Task Unit alongside #Senegal, Morocco, Burkino Faso and Cameroon #USAfricaCommand #Flintlock20. [PHOTO CREDIT: Official Twitter account of UK in Nigeria]

Troops kill notorious kingpin, arrest suspects, rescue victims in Akwa Ibom

May 19, 2022
Next Post
Former INEC Chairman, Professor Attahiru Jega

Electoral Bill: INEC, CSOs, Jega express concern over proposed increased campaign funding

Osmund Agbo writes about how brands built on the Ignorance of the average man are cash cows.

Slavery in Mauritania and the shame of a continent, By Osmund Agbo

Read All Comment

Search

AUN-PT Ad





Transport-Technology


Stanbic Ad


Access Bank Ad





Glo Ad


Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,841,302 other subscribers.

Advertisement






netherland biz school Advert



Zenith Advert

ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • #PandoraPapers
  • Gender
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Investigations
    • Investigations
    • Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • #EndSARS Dashboard
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • AUN-PT Data Hub
  • Opinion
  • The Membership Club
  • Dubawa
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.