Connect with us

News

Forbes: Aliko Dangote’s wealth surges by almost 100% to $23.9bn, now 86th richest in the world

Published

on

Aliko Dangote

 

Billionaire Aliko Dangote has seen his wealth nearly double to $23.9 billion, according to Forbes, which ranks the Nigerian entrepreneur as the wealthiest person in Africa and 86th in the world. It would be recalled that Forbes ranked Aliko Dangote as the 144th richest person in the world in 2024 with $13.4 billion.

Forbes estimates Dangote’s net worth at $23.9 billion, primarily due to his 92.3 percent stake in Dangote Petroleum Refinery & Petrochemicals. At 67 years old, Dangote is once again one of the top 100 richest individuals worldwide, a position he has not held since 2018, according to the Forbes Real-Time Billionaires List.

This places him significantly ahead of South African Johann Rupert, who is ranked 161st in the world with an estimated wealth of $14.4 billion and very far above Mike Adenuga, who is the second richest in Nigeria and 481, in the world, with a net worth of $6.8 billion.

Dangote disrupted the government’s oil monopoly by constructing the largest petroleum refinery in Africa. After 11 years, a $23 billion investment, and numerous challenges, the Dangote Refinery began operations last year. Located on a vast 6,200-acre site in the Lekki Free Zone, the refinery, at full capacity, will process a remarkable 650,000 barrels per day (b/d), making it the seventh-largest refinery in the world and the largest in Africa. Additionally, the refinery’s adjacent petrochemical complex has an annual production capacity of 3 million metric tons of urea, making it Africa’s largest fertiliser producer.

#

The Dangote Refinery is already having a significant impact on global energy markets. Imports of petroleum into Nigeria are on track to reach an eight-year low, affecting European refiners that have traditionally sold to Nigeria, according to energy intelligence firm Vortexa. Furthermore, Nigeria has become a net exporter of jet fuel, naphtha (a solvent used in varnishes, laundry soaps, and cleaning fluids), and fuel oil, according to S&P Global.

Dangote sees the refinery as part of a larger vision to transform Nigeria, one of the world’s largest crude oil producers, into a major producer of refined petroleum products. This would enable Nigeria to compete with European refineries and supply gasoline to Nigerian consumers.

 “I want to provide a blueprint for industrialisation across Africa,” Dangote says in an interview with Forbes. “We have to build our nation by ourselves. We have to build our continent by ourselves, not [rely on] foreign investment.” He believes Africa has long been “a mere dumping ground for finished products,” and his refinery represents “a pivotal step in ensuring that Africa can refine its own crude oil, thereby creating wealth and prosperity for its vast population.”

 Dangote said the refinery is the biggest risk of his life and without success, it would have affected him greatly.  

“It was the biggest risk of my life,” says Dangote about his decision to embark on the project. “If this didn’t work, I was dead.”

Zainab Usman, director of the Africa Programme at the Carnegie Endowment for International Peace, according to Forbes, said Nigerians see Dangote as a hero and a real industrialist transforming the country.

 “He is seen in most parts of Nigeria as a hero. He is seen as a real industrialist who builds things,” she said.

 A professor of African studies at the Soka University of America, Chika Ezeanya, also corroborated this view, noting that Dangote is meeting the needs of consumers on the continent. 

“I think he’s believed staunchly in the fact that Nigerians need products that he has to offer,” he said while adding, “Governments can come and go, policies can be changed, but the needs of the Nigerian consumer will only grow and expand.”

 

 

 

 

News

Vatican Elect Cardinal Robert Prevost as new pope

Published

on

Cardinal Robert Prevost has been elected pope, the first time an American will lead the Roman Catholic Church. He chose the name Pope Leo XIV.

The 69-year-old new pontiff appeared at the balcony in St. Peter’s Basilica and said Peace be with all of you!”

He said he wanted his message of peace to “enter your hearts, reach your families and all people, wherever they are.”

He thanked his fellow cardinals for selecting him, and spoke in Italian, Spanish and Latin. Having spent years working in Peru, he thanked his former diocese in the South American country, “where a loyal people has shared its faith and has given a lot,” he said.

He also spoke warmly of the late Pope Francis and concluded by leading the crowd in prayer.

He appeared after white smoke streamed from the chimney atop the Sistine Chapel, signaling the 133 cardinals inside had elected a new pope.

A roar erupted from the crowd when they saw the white smoke, which was shown on several large screens in St. Peter’s Square. Enormous bells of St. Peter’s Basilica began to ring, tolling the news that the Catholic Church has a new pope.

The vote came on the second day of the papal election process known as the conclave. Church experts had named other possible candidates and had not expected an American to win the papacy.

Rome has been brimming with excitement, as thousands gathered near the Via della Conciliazione to be present for the historic moment when the new pope is announced and presented to the world.

The cardinal electors then paid homage and pledged obedience to the new head of the church, and thanked God while the new pope was taken into a sacristy and fitted with papal attire.

Finally, the pronouncement was made in Latin — “Annuntio vobis gaudium magnum: Habemus Papam!” (“I bring you tidings of great joy: We have a pope!”) — and the new pope gave an apostolic blessing to throngs of faithful.

N p r

#
Continue Reading

News

BUK’s Centre For Dryland Calls For Revival Of Rangelands and Empowerment Of Pastoralists

Published

on

 

The 5th International Conference on Drylands, organized by the Centre for Dryland Agriculture (CDA), Bayero University, Kano, has concluded with a powerful call for policy reforms, investment, and inclusive strategies to restore rangelands and improve the livelihoods of pastoralists.

According to the conference communiqué issued by Nura Sabon Sara, Director of Digital Media at Bayero University Kano, participants emphasized that governments and stakeholders must adopt sustainable land management policies to tackle degradation and climate vulnerability in dryland regions.

Held from May 6 to 8, 2025, the conference brought together over 300 participants, including scientists, policymakers, researchers, and development partners from 11 African countries, 13 Nigerian states, and 17 academic institutions, fostering rich knowledge exchange and cross-sector collaboration.

Call for Policy Reform and Sustainable Rangeland Management

A key highlight of the conference was the urgent call for evidence-based legal frameworks that promote sustainable rangeland governance. The communiqué, issued by Nura Sabon Sara, stressed the need for policies that uphold the rights of pastoralists, guarantee secure land tenure, and mitigate land-use conflicts.

#

Empowering Women and Youth in Pastoral Communities

Recognizing the critical role of women and youth, the conference urged increased investment in capacity-building programs, ensuring their active participation in decision-making processes. The communiqué, released by Bayero University Kano’s Digital Media Office, underscored the importance of economic empowerment initiatives tailored to young and female pastoralists.

Scaling Up Investment and Innovation in Dryland Agriculture

Delegates emphasized the necessity of public-private investment in climate adaptation and sustainable land management technologies. According to the communiqué, integrating indigenous knowledge with scientific advancements is crucial for developing tailored solutions that strengthen climate resilience.

International Cooperation and Private Sector Engagement

The conference communiqué advocated for enhanced global partnerships to address transboundary rangeland challenges. It urged development organizations to align funding with dryland research efforts, referencing major initiatives like the US-led Vision for Adapted Crops and Soils (VACS) and the Africa Soil Initiative.

The private sector was encouraged to invest in rangeland-based enterprises, fostering ecological balance and economic growth, the communiqué stated.

Urgency of Action in the Face of Growing Dryland Challenges

The participants echoed the pressing need for urgent action to combat rangeland degradation and pastoral livelihood threats, emphasizing that healthy rangelands are vital for food security and peaceful coexistence.

The conference also leveraged the International Year of Rangelands and Pastoralists (IYRP) 2025 as a global platform to intensify awareness and strategic partnerships, according to the Centre for Dryland Agriculture, Bayero University Kano.

Conference Partners and Future Outlook

The event received support from key institutions including icipe, RSIF, CIMMYT, ICRISAT, IITA, ILRI, PACET, Nigeria’s Federal Ministries of Agriculture and Environment, and the Commonwealth Geographic Bureau (CGB), as highlighted in the official communiqué.

In conclusion, the conference reinforced the need for ongoing research, capacity-building, and policy advocacy to safeguard the future of Africa’s drylands.

 

Continue Reading

News

Media Executives Forum, Info Ministry NBC Unite To Uphold Ethical Broadcasting, Bans Live Political Program

Published

on

 

In a renewed effort to promote responsible journalism, mutual respect, and the protection of Kano State’s cultural and religious heritage, the forum of media owners together with Commissioner for Information and Internal Affairs, Comrade Ibrahim Abdullahi Waiya and National broadcasting commission (NBC) have moved to uphold ethical broadcasting through banning live political programs.

The stakeholders arrived at the decision during a quarterly meeting, convened by the Ministry of Information, aims to strengthen understanding and cooperation between media organizations and the government, in order to ensure effective information dissemination that upholds the dignity and image of Kano State.

Speaking at the session, Comrade Waiya expressed appreciation for the unwavering support of media leaders, which he said has contributed immensely to the ministry’s progress in curbing unethical content on public platforms. He commended the noticeable reduction in abusive language in some broadcast programmes, attributing the achievement to the productive engagements held in previous meetings.

Highlighting the government’s commitment to preserving the state’s moral standards, the Commissioner disclosed that sensitization programmes have been organized for political programme presenters, media commentators, and the Council of Friday Imams. These efforts, he noted, are designed to encourage responsible communication that conveys messages to the public without defamation or any act that could undermine the state’s reputation.

Comrade Waiya further clarified that the government’s stance is not to suppress political opposition but rather to safeguard the sanctity of Kano’s cultural and religious values.

Among the key resolutions reached during the meeting were:

– Anyone appearing on media platforms for interviews must sign an undertaking to refrain from making abusive, defamatory, or culturally offensive remarks.

– A ban has been placed on live political programmes across media outlets to prevent the spread of inflammatory content.

– Presenters were also banned from asking provocative questions or making suggestive gestures that could lead to statements capable of defaming individuals or damaging the image of Kano State.

Media executives at the meeting pledged their continued cooperation and offered valuable suggestions on improving broadcast standards and sanitizing language, all geared towards promoting peace and mutual respect in society.

#
Continue Reading

Trending