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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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Stop Dragging NBA into Kano Emirate Tussle – Barrister Nafisa Replies Gandu

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The Chairperson of the Northern Women Lawyers Congress Barrister Nafisa Abba has called on Badamasi Sulaiman Gandu to stop dragging the Nigeria Bar Association into the State Emirate Tussle which is before the court of law.

It would be recalled that the lawyer has advised Alhaji Muhammadu Sanusi II to tender his statement to the Police in regards to the sallah durbar incident that led to the lost of lives, reminding the Emir that he is not above the law.

But in a response, Badamasi Gandu, a lawyer, described the call as unprofessional and unbecoming of a member of the Kano Bar.

” I was amazed by the response of my colleague Badamasi Sulaiman Gandu, it’s so sad that a lawyer like him would go so low like this; lawyers are known for always being comprehensive to any matter before making their opinion.

As the Chairperson of Northern Women Lawyers Congress, we have the right to issue a statement, it’s our constitutional responsibility, we didn’t do that on behalf of the Nigerian Bar Association; it’s ridiculous that Badamasi is bringing NBA into the matter.

All we are saying is for Emir and his supporters to stop using faceless organisations on this matter.

Like I did, I wrote my name, and the organisation I’m representing is not a pseudonym.

Badamasi Gandu has taken side on the matter. Everyone knows that he is a kwankwasiyya supporter but just hiding under human rights activism.

It’s good that you have shown the world your true colour. ” She said.

The lawyer further maintains her stands that the Emir is not above the law while asking him to tender his statement before the police for the interest of peace and the rule of law.

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Court Halts Federal Government’s Kano-Niger Railway Project Over Land Dispute

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The Kano State High Court has issued a restraining order against the Federal Government, halting the continuation of the ongoing railway project from Kano to Daura and onward to the Niger Republic, on land belonging to residents of the Kuyan Ta Inna community.

The court, presided over by Justice Usman Na Abba, ruled that any such construction must follow due legal process, including consultation with landowners and the provision of adequate compensation

Nigerian Tracker reports that the injunction came in response to a suit filed by the Kano Property Agent Development Association (KAFADA), which represents affected landowners in the area.

The suit names the Federal Ministry of Works, the Federal Ministry of Transport, and the compensation consultant as defendants, accusing them of attempting to issue what it describes as “incommensurable” compensation to property owners.

Counsel to the plaintiffs, Barrister Usman Baito, stated that the court’s ruling affirms that moving forward with the railway project on community land without following appropriate legal procedures would constitute a breach of the Nigerian Constitution.

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Baito added that the court emphasized the necessity of thorough consultation, transparency, and equitable compensation before any land can be lawfully acquired for such a major project.

“The judgment reinforces the rights of the Kuyan Ta Inna residents,” Baito said. “Any attempt to sidestep these procedures is not only unlawful but a direct violation of the constitutional rights of the people.”

The Chairman of KAFADA, Isa Jibrin Isa, acknowledged the community’s willingness to cooperate with the government.

He noted that the property owners are not opposed to the railway development but are insisting that all actions must be carried out within the bounds of the law.

“We are open to dialogue and ready to sign a compensation agreement,” Isa said, “but only if it is based on fair valuation and in line with legal provisions. Our people deserve justice, not exploitation.”

Efforts to reach representatives of the Federal Government or the project contractor were unsuccessful at the time of filing this report.

 

 

 

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Kano Durbar: Lawyers accuse FG Of moves To discredit Emir Sanusi

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A group of Kano-based human rights lawyers has alleged that Federal Government political plot against Emir of Kano, Muhammadu Sanusi II necessitated the cancellation of Sallah durbar festivities across Kano emirates.

In a strongly worded petition submitted to Kano State Commissioner of Police, the National Forum of Kano Indigene Lawyers also alleged that security alert raised as justification for imposing the ban lacked merit and may be a veiled move to curtail the influence of the reinstated Emir of Kano.

The police prohibited the UNESCO certified Kano cultural status as intangible heritage of humanity, after sensing security breach even when the 15th emir Aminu Ado Bayero cancelled his planned paralleled Durbar.

Addressing journalists shortly after submitting their letter to the police commissioner, leader of the lawyers, Barrister Usman Imam Tudun Wazirchi insisted the ban was unnecessary.

Tudun Wazirchi said the so-called security threat has no substantial basis, claiming that “If Durbars were allowed to hold in high-risk states like Borno, Katsina, and Zamfara, why not Kano?

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“Even during Boko Haram’s peak, such total bans were not implemented,” the lawyers emphasized.

The lawyers accused “unpatriotic citizens” and political actors of instigating fears in the minds of peaceful residents simply to prevent the cultural pageantry associated with Emir Sanusi’s return to palace. They argued that the ban not only infringes on cultural rights but also represents a broader attack on constitutional freedoms.

Referring to the recent Court of Appeal judgment that upheld Sanusi’s position, the letter warned against using law enforcement to carry out political persecution.

The lawyers also addressed their concerns to international bodies, including the UN, EU, and African Union, signaling a desire to draw global attention to what they called “an orchestrated attack on Kano’s heritage and legitimate royal leadership.”

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