By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)- Nigeria’s business mogul, Aliko Dangote has been named Africa’s richest man for the fifth consecutive time according to the Africa’s 50 Richest report released on Wednesday by Forbes, business and financial news firm.
Dangote who produces, cement, sugar and flour in Africa’s most populous country as at June 11, 2015 was worth $16.7 billion.
Forbes says Dangote’s net worth is $16.7 billion nearly $5 billion lower than his worth when the list was compiled last year as “a result of a drop in the stock price at Dangote Cement and dwindling fortune of the naira.
Early November Dangote made the list of the World’s Most Powerful People as released by Forbes.
The list consist of 73 most powerful people in the world and the Nigeria’s business mogul came 71st in position beating Donald Trump US Republican presidential hopeful to the 72nd position.
Also, Dangote had emerged 68 in 2014 Forbes most powerful people in the world, he was number 67 billion in 2015 and number one in Nigeria, in 2014 he was name Forbes number one (1) Africa’s 50 Richest in 2014.
On the list of Africa’s 50 Richest, nine (9) other Nigerians were named. In other of rating they include Mike Adenuga at 7th place, with $3.5 billion; Folorunsho Alakija, with $1.7 billion (13th); Femi Otedola, with $1.6 billion (16th); Abdulsalam Rabiu, with $1.0 billion (23rd); and Theophilus Danjuma, with $750 million (30th).
Others are Heirs Holdings founder, Tony Elumelu, with $700 million (31st); Jim Ovia, with $550 million (37th); Mohammed Indimi, with $500 million (39th); and Orji Uzor Kalu, with $330 million (49th).
According Forbes, the number of Nigerians on the list fell from 13 in 2014, while South Africa climbed up with 16 slots from 11 last year.
Alakija and Isabel dos Santos of Angola were the only two (2) women that made the lists.
Forbes noted that after several years of steady growth in Africa, some sectors of the economy hit a wall. Lower prices for oil and other commodities led to a smaller number of African billionaires than a year ago on Forbes new list of Africa’s 50 Richest – 23 billionaires this year, down from 28.
The Forbes report said as a group, the continent’s wealthiest 50 are worth $95.6 billion, a decline of $15 billion from a year ago.
Forbes further affirmed that the minimum net worth required making the list this year was $330 million, down from $510 million a year ago.
