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Bloomberg rates Aliko Dangote richest man in Africa with $15.6bn

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Aliko Dangote

President of Dangote Group, Aliko Dangote remains the richest man in Africa, despite the volatility of Nigerian currency against the dollar. Bloomberg in its daily top billionaire lists, released on Tuesday, revealed that Dangote with a wealth of $15.6 billion topped other Africans in the Index.

Dangote, who remains the richest man in Africa for the 12th year running, was the only Nigerian on the list of the top 500 billionaires, as released by Bloomberg.

Other Africans listed in the latest top 500 world billionaires list for the year 2023 include Johann Rupert and family of South Africa, now worth $13.3 billion, while Nicky Oppenheimer of South Africa, Nassef Sawiris of Egypt, Natie Kirsh of South Africa, and Naguib Sawiris are also worth $9.0 billion, $7.47 billion, $7.37billion and $5.93 billion respectively. These are the only five other Africans that made the list.

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. In calculating net worth, Bloomberg News strives to provide the most transparent calculations available, and each individual billionaire profile contains a detailed analysis of how that person’s fortune is tallied.

The index is a dynamic measure of personal wealth based on changes in markets, the economy and Bloomberg reporting. Each net worth figure is updated every business day after the close of trading in New York. Stakes in publicly traded companies are valued using the share’s most recent closing price. Valuations are converted to U.S. dollars at current exchange rates.

Ellon Musk and Bernard Arnault are the richest in the world with $219billion and $194 billion respectively in their kitties while Jeff Bezos and Bill Gates followed respectively with $151 billion and $130 billion. Larry Ellison was the fifth richest with $130 billion on the world’s billionaires’ chart.

Bloomberg is a global information and technology company, that connect decision makers to a dynamic network of data, people and ideas – “accurately delivering business and financial information, news and insights to customers around the world” Bloomberg L.P. provides financial software tools such as an analytics and equity trading platform, data services, and news to financial companies and organisations through the Bloomberg Terminal.’

Africa’s richest man, with his new worth of $15.6 billion, controls Dangote Industries, a closely-held conglomerate. The Lagos, Nigeria-based company owns sub-Saharan Africa’s biggest cement producer, Dangote Cement. It also has interests in sugar, salt, fertiliser and packaged foods. Dangote also recently commissioned the $19bn petroleum refinery plant, which is now the Africa’s largest refinery.

It would be recalled that Aliko Dangote, was also recently named as among the topmost charitable man in the World by Richtopia, a digital periodical that covers business, economics, and financial news, based in the United Kingdom. This recognition came after he endowed his foundation, the Aliko Dangote Foundation (ADF) to the tune of $1.25 billion.

Aliko Dangote started his Foundation in 1981, with a mission to enhance opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden economic empowerment opportunities.

Aliko Dangote Foundation was however incorporated in 1994 as a charity in Lagos, Nigeria. 20 years later, the Foundation has become the largest private Foundation in sub–Saharan Africa, with the largest endowment by a single African donor. The primary focus of Aliko Dangote Foundation is health and nutrition, supported by wrap-around interventions in education, empowerment, and humanitarian relief.

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Governor Yusuf Pays Over 3 Billion for Secondary School Students to Sit for NECO, NABTEB, NBAIS

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The Governor of Kano State, Alhaji Abba Kabir Yusuf, has expended over 3 billion naira for 141,175 (one hundred and forty-one thousand, one hundred and seventy-five) Kano students who passed the 2024 qualifying examinations to sit for this year’s WAEC, NECO, NABTEB, and NBAIS (2025).

In a statement issued by the Governor’s Special Adviser on Information, Ibrahim Adam, it was noted that the Commissioner for Education, Ali Haruna Makoda, announced to newsmen in Kano that the State Ministry of Education had released the results of the qualifying examinations for secondary school students in Kano.

These students are studying under the Kano State Teachers Service Board and the Science and Technical Schools Board, where 75 percent of them qualified to write the senior school certificate examinations of WAEC, NABTEB, NECO, and NBAIS (for Arabic students).

Ali Haruna Makoda stated that the students eligible for payment by the Kano State Government under Alhaji Abba Kabir Yusuf are those who scored five credits and above.

The Commissioner maintained that all secondary school principals and directors should notify their students of their results so that the state government can effect the payment.

The 2025 qualifying exams for WAEC, NECO, and NABTEB will enable the students to sit for their 2025 examinations required for admission into tertiary education.

Ibrahim Adam, the Special Adviser to Governor Yusuf on Information, said that since the inception of the administration in May 2023, it has settled registration fees for Kano indigent students for WAEC, NECO, NABTEB, and NBAIS.

The Special Adviser pointed out that apart from settling the fees, Governor Yusuf’s administration has also paid huge outstanding debts for WAEC, NECO, and NABTEB left behind by former Governor Abdullahi Umar Ganduje’s administration.

He also said it is part of Governor Yusuf’s declaration of a state of emergency on education and an effort to mitigate the high number of out-of-school children that have bedeviled the state.

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NWDC Cancels Foreign Scholarship Scheme, Backs FG’s Local Education Policy

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The North West Development Commission (NWDC) has announced the cancellation of its foreign scholarship application process in response to a new policy directive from the Federal Government prioritizing local education.

In a statement issued by the NWDC management on Thursday, May 8, 2025, the commission confirmed that the cancellation is in line with a recent federal directive urging public institutions to focus on strengthening educational capacity within Nigeria.

“This decision follows the Federal Government’s announcement on May 7, 2025,” the statement read. “We are fully committed to aligning our programs and initiatives with national priorities, especially those aimed at promoting local content and indigenous capacity building.”

The Federal Government’s directive was conveyed through a press statement signed by Mrs. Boriowo Folasade, Director of Press and Public Relations at the Federal Ministry of Education. The statement emphasized the need to redirect resources towards improving domestic institutions and ensuring more Nigerians have access to quality education at home.

“The policy is designed to reduce reliance on foreign academic systems and bolster Nigeria’s educational sector by investing in local universities and training institutions,” Mrs. Folasade said in the official release.

The NWDC reiterated its support for this policy, noting that it will explore new avenues to support educational and human capital development within the region. “The commission will provide updates on further opportunities and programs in due course,” the NWDC statement concluded.

The move is expected to impact hundreds of applicants who had hoped to pursue studies abroad under the commission’s sponsorship but may now need to consider domestic options supported by the commission in future initiatives.

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Erosion Control :Governor Yusuf Disburses Over N600 Million Compensation

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Kano State Governor, Alhaji Abba Kabir Yusuf, has disbursed over N600 million to residents of Bulbula and Gayawa who were affected by the ongoing Erosion Control Project.

A statement released on Thursday by the Governor’s Spokesperson, Sanusi Bature Dawakin Tofa, said that the disbursement was organized by the Kano State Agro-Climatic Resilience in Semi-Arid Landscapes (Kano-ACReSAL), under the Ministry of Environment and Climate Change. The event took place at the Coronation Hall, Government House, Kano.

According to the statement, the project involves the construction of reinforced concrete channels, bioremediation buffers, and other robust erosion control infrastructure.

This initiative aims to reclaim degraded land and restore safety to the affected areas. It is being executed through a collaboration between the state and federal governments, with support from the World Bank.

The statement further elaborated that the project will also strengthen surveillance through the engagement of community vigilantes and the installation of solar streetlights to deter criminal activity that had previously thrived in the abandoned gully area.

In his address, Governor Yusuf stated:
“Today marks a significant step forward in our collective journey to restore dignity, security, and prosperity to the communities of Bulbula and Gayawa.”

He continued:
“I am deeply honored to be here to personally present compensation cheques to the Project Affected Persons (PAPs) under the Resettlement Action Plan (RAP) for the Bulbula-Gayawa Erosion Control Project in Nasarawa and Ungogo Local Government Areas.”

The Governor urged the beneficiaries to make judicious use of the funds, emphasizing:
“Every cheque presented today is a message that the government of Abba Gida-Gida stands with its people, especially during times of hardship and displacement.”

“The compensation being disbursed today is based on thorough enumeration, community engagement, and due diligence. Our approach ensures that every affected citizen is recognized, documented, and fairly treated in accordance with global best practices,” he assured.

Governor Yusuf lamented that:
“The Bulbula-Gayawa erosion menace has brought untold hardship to many. It has claimed farmlands, damaged homes, displaced families, and turned once-thriving neighborhoods into unsafe zones.”

The Governor pledged his administration’s continued support throughout the project’s lifecycle, reiterating that no community would be left behind in the development process.

Governor Yusuf expressed his appreciation to the implementation team under the ACReSAL Project, traditional rulers, community representatives, and relevant stakeholders for their transparency, professionalism, and relentless efforts in ensuring the successful compensation exercise.

 

Some beneficiaries, Jibril Abdullahi Jibril and Fatima Haruna, expressed their gratitude to the state government for the intervention. They recalled years of advocating for the project, which had been unsuccessful until the present administration took action.

 

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