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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.

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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Kano Emirate Law 2024 Remains ,But Governor’s Action Voided

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Alhaji Aminu Ado Bayero

A Federal High Court in Kano has set aside all steps taken by Kano state government to repeal the Kano Emirates Council Law.

The Kano House of Assembly had repealed the law after which Governor Abba Kabir Yusuf implemented it by dethroning Alhaji Aminu Ado Bayero as Emir of Kano.

The governor also reversed the creation of four emirates, Bichi, Rano Karaye and Gaya, and sacked the Emirs appointed by his predecessor, Dr. Abdullahi Umar Ganduje.

The law was also relied upon to re-appoint the 14th Emir of Kano, Muhammadu Sanusi II, who was dethroned by Ganduje in 2020, as the 16th Emir of Kano.

But a kingmaker in the former Kano emirate, Aminu Babba Danagundi, the Sarkin Dawaki Babba, challenged the propriety of the law and asked the court, through his counsel, Chikaosolu Ojukwu (SAN), to declare it null and void.

In his ruling on Thursday,  Justice Abdullahi Muhammad Liman set aside the action of Kano government, ordering parties to maintain status quo.

The judge held that the defendants were aware of the interim order granted by the court but chose to ignore it and went ahead with implementation of the law.

The judge held that he would assume his coercive powers to enforce compliance with his order.

However, the  judge transferred the case to Justice Simon Amobeda for continuation in view of his elevation to the Court of Appeal.

Daily Trust

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Arrest Kwankwaso Now-Group

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The Arewa Youths Merger Group has called for the immediate arrest of Senator Rabi’u Musa Kwankwaso, the National Leader and 2023 Presidential Candidate of the New Nigeria Peoples Party .This is contained in a press statement signed by. the chairman of the group Musa Mujahid Zantawa and made available to press.

This follows his recent statement accusing the All Progressive Congress (APC)-led Federal Government of fostering a new generation of Boko Haram terrorists and insurgents in Northern Nigeria.

Kwankwaso’s allegations have sparked significant controversy, prompting a strong reaction from the Arewa Youths Merger Group.
In a statement issued in Abuja, the association’s leader, Musa Mujahid Zaitawa, condemned Kwankwaso’s remarks as inflammatory and detrimental to national security.

Zaitawa asserted that such statements could exacerbate tensions and potentially incite violence in the region.

“Kwankwaso’s unfounded accusations against the federal government are not only reckless but also dangerous. They undermine efforts to combat terrorism and promote peace in Northern Nigeria,”

Zaitawa said. “We urge the authorities to take immediate action and arrest him to prevent further escalation of hostilities.”

Kwankwaso, a prominent political figure and former Governor of Kano State, made the controversial statement during a recent public address.

He accused the APC administration of failing to address the root causes of terrorism and instead contributing to its proliferation.

According to Kwankwaso, government actions and policies are inadvertently creating conditions conducive to the rise of a new breed of insurgents.

The situation remains tense as stakeholders from various sectors weigh in on the implications of Kwankwaso’s statement and the response from the Arewa Youths Merger Group.

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Any Plot to Arrest My Supporters Will Be Resisted – Gov. Fubara

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Governor Fubara of Rivers State

 

Rivers State Governor, Sir Siminalayi Fubara, has assured that he will fearlessly lead the way to ensure that peace continued to prevail in the State while also protecting all patriotic supporters for their stand on the path of truth.

Governor Fubara made the vow while addressing newsmen, shortly after rising from a State Security Council meeting with heads of the security agencies at Government House in Port Harcourt on Tuesday.

The Governor emphasised that no grand plan to arrest such patriotic supporters on trumped-up charges will be tolerated.

Governor Fubara stated that there is no extension of tenure of elected local government chairmen, adding that the law is unambiguous on it, clarifying that the court has also affirmed the position of the law.

The Governor said: “Let me also say this: I’m also aware that there is a grand plan to come and arrest some of our supporters. This time around, you have to pass through me to arrest them because I don’t think there is anything that any of those people following us has done. Rather, they are standing on the side of truth.

If it will cost us our lives to stand on the part of truth, we will do that. And I will be the one that will lead the course,” he added.

Governor Fubara further said: “Let me assure everyone, more especially, the great and peace- loving people of Rivers State: the law is the law. The law has said that there is no extension of tenure.

The court said so, and whoever that is assuring anybody anywhere of whatever, I advise them to desist from it because peace is what we need in this State.

“I assure everyone of you that whatever it takes to make sure that we maintain peace and order, we are not going back on that,” he emphasised.

Governor Fubara explained that the Security Council Meeting was called because of the recent threat to the peace of the State by the outgone chairmen of the Local Government Councils.

The Governor said: “You are all aware that the tenure of the council chairmen ended yesterday, 17th June, 2024, and today, we have ordered the Heads of Local Government Administration to be in charge while they await further directives.

It’s really unfortunate that we started hearing some disturbing news from some LGAs of invasion of council secretariats, and it is really unfortunate. So, we have called the Security Council Meeting so that the needful will be done.

“We are also aware that our enemy is also planning a lot of things. But we will not fall into that plot. We will not also allow him or them to destroy the peace that we are enjoying in the State,” he added.

He thanked the media and the peace-loving people of the State for their support, and urged everyone to continue to remain law-abiding for the unity and progress of the State.

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