A tragic accident shakes the streets of Lagos: a Dangote truck driver arrested for fatally running over a woman in Lagos. The events leading to this loss of life were recounted by Adebayo Taofiq, Director of the Public Affairs and Education Department of the Lagos State Traffic Management Authority (LASTMA), in a recently released statement.
Aliko Dangote
Dangote's fortune surges to over $15 Billion after Naira rise
The resurgence of the Nigerian naira on both official and parallel exchange markets is accompanied by a remarkable resurgence in the fortune of Aliko Dangote, the most successful businessman on the African continent. According to the latest figures from the Bloomberg Billionaires Index, Dangote’s net worth has surpassed the $15 billion mark.
Cement price hike: Billionaires Dangote and Rabiu to be summoned by legislators soon
The recent surge in cement prices in Nigeria has sparked outrage among federal legislators, who have summoned some of the industry’s leading tycoons to account for this steep increase. Among those summoned are iconic figures such as Africa’s richest businessman, Aliko Dangote, and prominent entrepreneur Rabiu Abdulsamad.
Dangote refinery poised to import crude from US by end of February
The Dangote Refinery in Nigeria, the largest in Africa, is poised to reach a major milestone by diversifying its sources of crude oil supply. According to well-informed traders, the Trafigura Group is reported to have sold 2 million barrels of WTI Midland to the Dangote refinery for delivery by the end of February. This transaction marks a significant turning point for the refinery, as it prepares to import crude oil from the United States for the first time, according to a Bloomberg report.
Dangote: this famous billionaire explains why he acquired shares in his company
Nigerian business magnate and billionaire investor Femi Otedola recently announced a significant acquisition of shares in Dangote Cement, the cement giant in Africa. This strategic decision reflects Otedola‘s confidence in Dangote Cement‘s potential to generate foreign exchange for Nigeria, emphasizing his commitment to businesses that contribute to the country’s economic resilience.
Dangote gained $1.5 billion in 24 hours
The meteoric financial rise of Aliko Dangote continues to astonish the business world. Just a week after Forbes revised upwards the valuation of his fertilizer plant, the Nigerian businessman experienced a spectacular increase in his fortune. In a mere 24 hours, his net worth surged by $1.5 billion, skyrocketing from $15.5 billion to an impressive $17 billion. This accomplishment not only solidifies his position as the richest person in Africa but also as the wealthiest black individual globally, ranking 103rd among global billionaires.
Aliko Dangote owns more wealth than the bottom half of Nigerian (Oxfam)
In a recent report, Oxfam highlights the overwhelming economic disparity prevailing in Africa. Dangote and the six other wealthiest individuals on the continent amass a wealth of $52 billion, surpassing that of the 700 million people forming the poorest half of Africa’s population. This observation sheds light on the urgent need to address this blatant inequality.
Nigeria: Oil Traders Partner with Dangote
Oil traders in Nigeria have registered with the Dangote Petroleum Refinery for the distribution of refined petroleum products. This collaboration represents a major shift in the country’s management of its oil resources. The Dangote Petroleum Refinery, a $20 billion project, recently commenced the production of diesel and aviation fuel.
Nigeria: Aliko Dangote’s largest project set to launch soon
Aliko Dangote, an emblematic figure in the African economy, stands out not only as the continent’s foremost billionaire but also as a pioneer in multiple industrial sectors. Dangote, whose fortune saw a spectacular rise of over 100 million dollars in the first week of 2024, pushing his net worth above 15 billion dollars, epitomizes African entrepreneurial success. After a challenging year in 2023, he managed to rebound, particularly thanks to his wise investments in key sectors of the Nigerian economy.
Good news for Dangote amid controversy
The Dangote Group, a giant in the Nigerian industry, is navigating through a period mixed with challenges and successes. Recently, Dangote Petroleum Refinery received its fifth shipment of crude oil, a cargo of one million barrels of Bonny Light, supplied by the Nigerian National Petroleum Corporation Limited. This delivery marks a significant milestone for the refinery as it gears up to commence operations.