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Forbes 2023 Index: Dangote Still Africa’s Richest for 12th Consecutive Year  

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Aliko Dangote

 

…Listed among world’s top 200 richest persons

For the 12th year consecutively, Aliko Dangote, President of the pan-African Conglomerate, the Dangote Group has emerged the richest man in Africa, despite economic headwinds that affected the fortunes of half of the world’s reported billionaires.

Dangote, whose business flagship, Dangote Cement Plc is the largest producer of cement in Africa, is the only Nigerian in the list of first 200 richest men in the world with an estimated net worth of $14.2 billion, up from last year’s $12.1 billion.

Forbes, in its latest ranking of world billionaires for 2023 reported that falling stocks, wounded unicorns and rising interest rates translated into a down year for the world’s wealthiest people.

Dangote, presently ranked 124th among the world’s richest billionaires, is the only Nigerian in the top 200 world billionaires and one of the two Africans within that bracket; with South Africa’s Johann Rupert, who deals in luxury goods ranked 157th with a net worth of $11.1 billion.

The Africa’s richest man founded and chairs Dangote Cement, the continent’s largest cement producer. Dangote Cement has production capacity of 51.6 million tonnes per year across ten countries in Sub-Saharan Africa, with integrated factories in seven countries, a clinker grinding plant in Cameroon, and import and distribution facilities in Ghana and Sierra Leone.

Dangote also owns stakes in publicly traded Dangote Salt (NASCON) and Dangote Sugar manufacturing companies. His Dangote Petroleum Refinery, touted to be the world’s largest single-train refinery, was recently commissioned and is expected to process 650,000 bpd of petroleum for domestic consumption and export; in what experts have described as a game changer in the oil and gas sector.

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The foremost philanthropist had earlier been rated 11th of the 50 World’ Greatest men and women of all time by the Fortune Magazine, an American multinational business magazine which premised the ranking of the world’s greatest mainly on the businesses run by the men and how they have used it to impact their society positively.

The time-tested magazine, which first edition was published in February 1930, said the world’s greatest men and women are transforming the world and inspiring others to do so in business, government, philanthropy and the arts. “These thinkers, speakers, and doers make bold choices and take big risks- and move others to do the same”, the magazine declared.

Specifically, Dangote earned nomination after being adjudged as having used his business to acquire wealth and is now converting his wealth into impactful philanthropy through his Aliko Dangote Foundation.

The top 10 greatest men and women, according to Fortune Magazine are: Bill and Melinda Gates, Jacinda Ardem, Robert Mueller, Pony Ma, Satya Nadella, Greta Thunberg, Margrethe Vestager, Anna Nimiriano, Jose Andres, and Dough Mcmillon and Lisa Woods.

 

The ranking of Dangote as one of the greatest business leaders had attracted comments by eminent persons around the world who described him as worthy of the nomination going by his business acumen and philanthropic gestures.

On the billionaires ranking for 2023, Forbes, the global media company said nearly half the world richest list are poorer than a year ago, including Elon Musk with net worth of $180b, falling from No. 1 to No. 2 after his pricey acquisition of Twitter helped sink Tesla, his multinational automotive and clean energy company.

Benard Arnault, the 74-year old French, who is the head of luxury goods giant LVMH, was ranked number one richest man in the world with a net worth of $211b, the very first time a France national will top the list.

Forbes reported that the party is over for many of the world’s richest people. For the second straight year, both the number of billionaires around the globe has declined from 2,668 in 2022 to 2,640 in 2023 and total billionaire wealth has dropped, too – down by $500 billion, to $12.2 trillion – as turbulent times have hit both public and private markets.

Nearly half the planet’s billionaires are poorer than they were a year ago. A total of 254 people have lost their billionaire status altogether yet others recorded gains.

Overall, the United States still boasts the most billionaires, with 735 list members worth a collective $4.5 trillion. China (including Hong Kong and Macau) remains second, with 562 billionaires worth $2 trillion, followed by India, with 169 billionaires worth $675 billion. To calculate net worths, Forbes used stock prices and exchange rates from March 10, 2023.

 

 

 

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Despite Dangote’s Withdrawal, ICPC Vows to Continue Investigation on Ex-NMDPRA Boss

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By Yusuf Danjuma Yunusa

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has declared its intention to proceed with an investigation into the sacked Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, despite the withdrawal of a petition against him by businessman Aliko Dangote.

Mr. Dangote had earlier petitioned the anti-graft agency, alleging that Mr. Ahmed misappropriated $5 million for the payment of his children’s school fees. The ICPC had consequently invited Mr. Dangote in December to formally adopt the petition as required by law.

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However, in a statement issued on Wednesday, the Commission confirmed the petition’s withdrawal. It noted receipt of a formal letter dated January 5, 2025, from Dr. O.J. Onoja, SAN, the legal counsel to Aliko Dangote. The letter, titled “Notice of Withdrawal of Petition against Engineer Farouk Ahmed,” stated that the petitioner was withdrawing the complaint in its entirety and indicated that another law enforcement agency had taken over the matter.

The ICPC, in its response, asserted its statutory authority to continue the probe. Citing sections 3(14) and 27(3) of its enabling Act, the Commission stated that investigations had already commenced in the public interest.

“The ICPC will therefore continue to investigate this matter in line with its statutory mandate and in the interest of transparency, accountability and the fight against corruption for the benefit of Nigeria,” the statement concluded.

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League of Veteran Journalists Independent of Ministry, Says Waiya as Journalists Adopt Constitution

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Comrade Ibrahim Abdullahi Waiya addressing the Press after the meeting

 

 

The Kano State Commissioner for Information and Internal Affairs, Comrade Ibrahim Abdullahi Waiya, has clarified that the Kano League of Veteran Journalists (KALVEJ) is an independent professional body and not an appendage of the State Ministry of Information.

Speaking during the ratification and adoption of the League’s Charter, which has now become its Constitution, the Commissioner explained that although the Ministry supports and relates with the League, such engagement is strictly on a professional basis.

He emphasized the importance of preserving the independence of professional bodies to enable them operate effectively and in line with global best practices, noting that the Ministry maintains similar professional relationships with bodies such as the Nigeria Union of Journalists (NUJ), the Nigerian Institute of Public Relations (NIPR), and other related professional organizations.

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The Constitution was ratified and adopted at the Tahir Guest Palace, Kano, during a session attended by members of the League drawn from various segments of the journalism profession, including academics.

The session featured extensive discussions, comments, observations, and detailed scrutiny of the draft document by members. Key observations raised included the absence of clear provisions on members’ welfare, gender representation, and sustainable funding mechanisms for the League.

Following exhaustive deliberations, members resolved that all issues raised during the session be forwarded to the Constitution Drafting Committee and Secretariat for further consideration and necessary amendments.

At the end of the session, a motion was moved and unanimously adopted mandating the Constitution Drafting Committee to continue managing the affairs of the League for a period of one year, pending the conduct of elections for substantive executives.

In his remarks, the Chairman of the Committee, Alhaji Ahmed Aminu, expressed gratitude to members for the confidence reposed in the committee. He assured the gathering that all concerns raised, particularly those relating to the welfare of members, would be adequately addressed in the revised Constitution.

Signed
Sani Abba Yola
Director, Special Duties
Kano State Ministry of Information and Internal Affairs
7th January, 2026

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Court Orders Interim Forfeiture of Malami’s 57 Properties

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By Yusuf Danjuma Yunusa

A Federal High Court in Abuja has ordered the interim forfeiture of 57 properties valued at about N213.2 billion, allegedly linked to a former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), and his two sons, Abdulaziz and Abiru-Rahman Malami.

Justice Emeka Nwite granted the order on Tuesday, January 6, 2026, following an ex-parte application filed by the Economic and Financial Crimes Commission (EFCC). The court held that the assets, acquired between 2016 and 2024, are reasonably suspected to be proceeds of unlawful activities.

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The diverse portfolio of properties spans Abuja, Kebbi, Kano, and Kaduna states. It includes luxury hotels and duplexes in Abuja’s Maitama, Asokoro, Wuse II, and Jabi districts; farmlands and housing estates in Birnin Kebbi; and commercial plazas, warehouses, and school facilities in other locations.

Justice Nwite directed that the interim forfeiture order be published in a national newspaper. This will allow any interested party 14 days to show cause why a final forfeiture order should not be granted in favour of the Federal Government. The matter was adjourned to January 27, 2026, for a report of compliance.

In a related case before the same court, Malami, his wife Bashir Asabe, and his son Abubakar Abdulaziz are currently standing trial over separate alleged money laundering charges involving N8.7 billion.

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