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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.

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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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Kano State Approves Over ₦600 Million for Settlement of Electricity Bills,Other Projects 

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Kano State Government has approved the sum of ₦608,394,370.49 for the settlement of electricity bills owed to the Kano Electricity Distribution Company (KEDCO) for five major water treatment plants covering November and December 2025.

 

 

This was disclosed by the State Commissioner for Information, Comrade Ibrahim Abdullahi Waiya, while briefing journalists on the outcome of the 38th Executive Council meeting presided over by Governor Abba Kabir Yusuf at the Government House.

Waiya explained that the council’s decision was part of broader commitments to improve infrastructure, strengthen public services, and enhance socio-economic development across the state. According to him, “After exhaustive discussions, the Council approved several projects and commitments aimed at improving infrastructure, strengthening public services, empowering citizens and enhancing socio-economic development across Kano State.” He noted that the total approvals amounted to ₦310,266,203,046, cutting across key sectors of governance.

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In the education sector, Waiya revealed that the council approved ₦238,020,000 for the purchase of UTME (JAMB) forms to be distributed to eligible candidates across the state. He added that ₦1.54 billion was also approved for the settlement of funds to boarding school suppliers to cover a six-week feeding period. “The Council also approved ₦236,198,174.08 for the settlement of outstanding payments for eggs and chickens supplied to boarding schools across the State,” Waiya stated.

On infrastructure, the Commissioner announced that ₦13.2 billion was approved for the implementation of 2026 constituency projects across the state. He further disclosed that ₦2.9 billion was approved for the reconstruction of Race Course Extension to Audu Bako Way, Alu Avenue, and Commandant Close off Race Course Road in Nassarawa Local Government Area. “Approval was also granted for the rehabilitation and overlay of the Gidan Malam Aminu Kano–Tal’udu–Gadonkaya–Yahaya Gusau–Sharada Road at the cost of ₦1.67 billion,” he said.

Waiya also highlighted approvals in the health sector, including ₦89,710,080 for the procurement of four dialysis machines for the Abubakar Imam Urology Centre and ₦165,637,550 for dental equipment and materials. He stressed that these interventions were aimed at strengthening healthcare delivery in the state.

In the housing sector, the Commissioner announced a major approval of ₦113.19 billion for the construction of a mass housing scheme comprising 480 houses at Rijiyar Gwan-Gwan, tagged “Gida Gida Mega City.” He added that ₦1 billion was also approved for the establishment of an Emergency Operations Management Centre at the Government House.

Other notable approvals included ₦1.34 billion for the 2026 Ramadan Feeding Programme under the Ministry of Religious Affairs, ₦1.7 billion as compensation to households affected by the Transmission Company of Nigeria’s 330KVA transmission line project, and ₦210 million for the production of 10 million seedlings for the 2026 Annual Tree Planting Campaign.

Waiya concluded by emphasizing that the approvals reflect the government’s commitment to sustainable development and improved service delivery. “These approvals and policy decisions clearly demonstrate the commitment of the Kano State Government under the leadership of His Excellency to sustainable development, improved service delivery and the overall wellbeing of the people of Kano State,” he said.

 

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Tinubu, Service Chiefs Brainstorm Over Deteriorating Security in North-East

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By Yusuf Danjuma Yunusa

President Bola Tinubu on Thursday convened a nearly two-hour security meeting with service chiefs at the Presidential Villa, Abuja, marking the first of such gathering since Tunji Disu assumed office as Inspector-General of Police.

The security chiefs, who arrived at the Villa without their usual official vehicles, making identification difficult, departed the premises at approximately 5:10pm after extensive deliberations with the President.

The service chiefs and the IG were identified by newsmen present at the Villa as they left the forecourt following the closed-door meeting.

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The session comes amid heightened security concerns across the country, particularly the recent killings of military commanding officers in various theatres of operation.

In the past week alone, the military lost at least three commanding officers in charge of forward operating bases following a surge in attacks on security formations and personnel, especially in the North-East where Boko Haram and Islamic State West Africa Province insurgents have intensified assaults on military positions.

Notable among recent incidents was the attack on Ngoshe in Borno State, which resulted in abductions, as well as separate assaults on Konduga, Marte, Jakana, and Mainok, all in Borno State.

The attacks prompted responses from both President Tinubu and Vice President Kashim Shettima, who vowed to deploy overwhelming force to end the insurgency.

As of the time of filing this report, details of the discussions at the security meeting had not been disclosed to the media.

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Ex-Sokoto Governor Tambuwal Officially Joins ADC

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By Yusuf Danjuma Yunusa

Senator Aminu Tambuwal, a former Governor of Sokoto State, has officially resigned his membership from the Peoples Democratic Party (PDP), attributing his departure to the party’s deepening internal crises. He has subsequently joined the African Democratic Congress (ADC).

Tambuwal, who currently represents Sokoto South in the Senate, formalized his resignation in a letter dated March 11, 2026, addressed to the PDP ward chairman in his Tambuwal/Shinfiri Ward, Tambuwal Local Government Area. The contents of the letter were made public on Thursday.

In the correspondence, the former Speaker of the House of Representatives explained that the decision was the result of extensive deliberations with his political network. “After deep reflection and extensive consultations with my political associates and supporters, I have decided to resign my membership of the Peoples Democratic Party with immediate effect,” the letter stated.

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He pointed to the party’s ongoing instability as the primary reason for his exit. “The persistent internal crises, leadership disagreements and growing divisions within the party have made it increasingly difficult for me to continue my membership,” Tambuwal wrote.

While severing ties with the PDP, Tambuwal acknowledged the platform the party provided for his political career. “I remain grateful to the party for the platform it provided me to serve Nigeria as Speaker of the House of Representatives and later as Governor of Sokoto State,” he noted.

Confirming his immediate switch to the ADC, Tambuwal said he is joined by his associates and supporters. He framed the move as a pursuit of a more principled and credible political vehicle. “My decision is guided by the conviction that Nigeria requires a stronger political platform built on integrity, accountability, inclusiveness and a clear commitment to national development,” he added.

Tambuwal’s political career has been marked by significant shifts. He served as Speaker of the House of Representatives from 2011 to 2015 under the PDP before crossing over to the All Progressives Congress (APC) to successfully run for Governor of Sokoto State in 2015. In a dramatic move later that same year, he defected back to the PDP, under whose banner he won a second gubernatorial term in 2019.

Following the conclusion of his second term as governor in 2023, he was elected to the Senate. His latest defection to the ADC is poised to reshape the political landscape in Sokoto State, where he remains a highly influential figure.

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