Dangote becomes 75th richest man in the world, makes N354.8bn in 24 hours

 

Nigerian business mogul, Aliko Dangote has become the 75th richest man in the world after making N354.8 billion in 24 hours.

Aliko Dangote who is known for being the richest man in Africa has made another achievement after making a whooping N354.8 billion in the space of 24 hours.

About a week ago, Dangote was ranked in the 80th position of the richest man in the world after he made N460BN in 24 hours and in the process, overtook two Russians, one Chinese, and an Indian on the billionaires’ list.

Bloomberg Billionaire Index reported last week that Dangote has maintained his position as the richest man in Africa for 12 consecutive years, with a net worth of $19.7 billion.

The fortune came from increased demand for Dangote Cement in Africa and it created an opportunity not only to fatten his account by $100 million but displace fellow billionaires.

After President Bola Tinubu was officially sworn in, there was a hike in the Nigeria Stock Exchange. This made the shares of Dangote Cement traded at N290 on Tuesday, May 30, 2023, following investors’ positive sentiments.

Uche Madubuogu, a financial analyst and banker, told Legit.ng that the Dangote Refinery could catapult him among the top 20 wealthiest men on earth.

Aliko Dangote refinery, Photo credit: Google. Source: Google

Madubuogu said: “We will not be shocked to see his wealth surge when the refinery begins to ship products by August.”

The financial analyst and banker, Madubuogu added that the refinery of Dangote which was recently launched holds an enormous promise to revitalize the Nigerian energy industry, especially the petrol import problem Nigeria has faced. “It will help Nigeria reduce dependence on imported petroleum drops. It might help eliminate petrol import,” he said.