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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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TMS Inaugurates Kano North’s 13 LG Executives and Empowers Social Media Representatives

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The Tinubu Maliya Shonikan (TMS) Organisation has inaugurated its local government coordinators across Kano North Senatorial District, with a pledge to strengthen grassroots mobilisation and support the All Progressives Congress (APC) ahead of future political engagements.

The inauguration ceremony, which was held on Sunday at Amani Event Centre, Nassarawa GRA, Kano, was led by the organisation’s leader, Alhaji Ibrahim Yusuf Garo, popularly known as Shonikan, alongside the Kano State Chairman of TMS, Barrister Nura Abdullahi Bagwai.

Speaking at the event, the organisers said the establishment of TMS in Kano North was motivated by the desire to support and promote programmes and political activities associated with Senator Barau I. Jibril Maliya, whom they described as having contributed significantly to the development and representation of the area.

According to the organisation, the initiative is also intended to mobilise support for the APC and strengthen its grassroots structure across Kano North and the wider Kano State.

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As part of the inauguration, social media agents from 141 wards across Kano North were provided with android tablet pc and data support to enable them to effectively communicate the activities, programmes and achievements of the organisation and its political allies through digital platforms.

The leadership of TMS said the provision of the devices and monthly data support formed part of a broader strategy to establish an organised and effective digital communication network across the senatorial district.

The organisation further announced plans to introduce additional programmes and initiatives aimed at strengthening grassroots mobilisation and contributing to the success of the APC from the grassroots to the state level.

The event attracted important diginataries like MD Hadejia Jama’are River Basin Development Authority, Engr. Rabi’u Suleiman Bichi whonis the Guest Speaker if rhe Occasion, APC National Vice Chairman North West Hon. Garba Datti Mohammed, the commissioner National Assembly Service Commission Hon. Yusuf A. Yusuf Tabuka, Representative of rhe State Minister Housing and Urban Development, APC leaders, members, supporters and representatives of the organisation from across Kano North.

The organisers expressed appreciation to God for the successful and peaceful conclusion of the inauguration ceremony, describing the event as an important step towards strengthening the organisation’s structure and activities across the senatorial district.

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No Pay, No Escape: Unpacking Shehu Sani’s Account of Abuja Hospital Lock-Ins

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By Yusuf Danjuma Yunusa

 

The escalating cost of healthcare in Nigeria has reached a critical inflection point, with private hospitals in the Federal Capital Territory now reportedly resorting to security protocols to prevent patients from absconding at night without settling their bills. This stark reality was brought to light on Thursday by former Kaduna Central Senator, Shehu Sani.

In a post on his Facebook page, Sani described witnessing the practice firsthand during a visit to a private clinic in Abuja.

“Some Abuja private hospitals have started taking security measures to ensure that patients don’t escape at night without completely settling their bills. That’s the case when I visited one of the private clinics today,” he wrote.

While he refrained from naming the facility or detailing the specific security steps, his observation underscores a deepening national crisis where medical care is rapidly becoming a luxury, trapping families between the desperation for treatment and the burden of debt.

This practice is merely the symptom of a systemic failure where the rising costs of drugs, diagnostic scans, surgery, and hospital admission fees are pushing citizens to the brink. For many, the choice is no longer between private and public care, but between treatment and survival.

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While patients suffer, health workers argue that hospitals are also struggling under the weight of economic headwinds. With inflation eroding the naira’s value, forex challenges limiting the import of medical supplies, and the removal of fuel subsidies impacting logistics and energy costs, the operational expenses for healthcare facilities have more than doubled in the last 18 months.

While on the other hand, a health practitioner, Ummee Manson, painted a stark picture of Nigeria’s healthcare burden, citing the ordeal of a fictional mother, Mama Chinedu, who had to sell her earrings and borrow money to raise ₦185,000 for her children’s malaria treatment—a bill that, despite saving the children, left the family skipping meals for weeks.

The practitioner noted that this experience mirrors the reality for millions, as it’s documented that in 2024, out‑of‑pocket spending still accounted for 58.3% of total health expenditure, meaning families directly bear the cost of drugs, tests, and hospital care.

The practitioner further warned that such high financial exposure pushes over one million Nigerians into poverty each year, since a single illness can deplete savings, create crushing debt, or force households to abandon care altogether, locking them in a relentless cycle of worsening health and economic distress.

The statistics paint a grim picture of a broken system. Recently released data from the National Bureau of Statistics (NBS) indicates that out-of-pocket spending still accounts for over 70% of total health expenditure in Nigeria. With most families lacking any form of health insurance, they are left to pay directly for services, often depleting their life savings in the process.

In response, both the Nigerian Medical Association (NMA) and various patient advocacy groups are renewing their calls for urgent government intervention. They urge the Federal Government to aggressively expand the National Health Insurance Scheme (NHIS) to cover a larger percentage of the population and to regulate the prices of essential medicines to curb exploitation.

For now, however, survival often depends on the kindness of strangers. Many Nigerians are forced to resort to crowdfunding, church donations, and social media appeals to raise funds for life-saving procedures—a precarious lifeline that is not available to everyone.

Health economists and medical professionals warn that without comprehensive reforms, the trend will only worsen, and until structural changes are made, the haunting reality remains: for millions of Nigerians, a hospital bed is a financial gamble, and the price of life is becoming too high to pay.

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Gov. Yusuf Increases Salaries of Two Varsities’ Academic and Non-Academic Staff

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Kano State Governor, Alhaji Abba Kabir Yusuf, has approved the implementation of a new salary review for Academic and Non-Academic Staff of Aliko Dangote University of Science and Technology, Wudil, and Northwest University, Kano.

The new increase in salary was adopted from the Federal Government’s new remuneration package implemented at the Federal Universities in Nigeria.

This was contained in a statement issued by the governor’s spokesman, Sunusi Bature Dawakin Tofa, on Monday.

The approval followed a report and recommendations of a committee constituted by the State Executive Council to examine and review requests by the two state-owned universities for the domestication of the new salary package.

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Under the approved arrangement, the new remuneration package will take effect from January 2026, while payment will commence in September 2026.

The salary review will have a total financial implication of ₦391,847,555.24 monthly, amounting to ₦4,702,170,662.88 annually for the two universities.

For Aliko Dangote University of Science and Technology, Wudil, the monthly financial implication is ₦228,195,210.83, comprising ₦141,082,223.37 for Academic Staff under the ASUU agreement and ₦87,112,987.46 for Non-Academic Staff under SSANU.

For Northwest University, Kano, the monthly implication is ₦163,652,344.41, comprising ₦112,238,985.30 for Academic Staff and ₦51,413,359.11 for Non-Academic Staff.

The government has approved the inclusion of ₦1,567,390,220.96 in the 2026 Supplementary Budget to cover payments from September to December 2026.

Similarly, arrears covering the period from January to August 2026, amounting to ₦3,134,780,441.92, will be provided for under the 2027 Budget.

The decision, according to the committee’s report, is aimed at ensuring industrial harmony and improving the welfare of staff of the two institutions, in line with the implementation of the new remuneration package in federal universities and other state-owned universities.

Governor Yusuf also approved the consideration of Visitation Panels for the two universities and other tertiary institutions in the state, as provided by relevant laws, to strengthen accountability, administration and effective management of the institutions.

The Governor reaffirmed his administration’s commitment to improving the welfare of workers and strengthening the quality of higher education as part of its broader investment in human capital development.

 

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