Aliko Dangote - News Proof

Aliko Dangote

RECESSION: Dangote Loses $3b, Drops On 2017 Forbes World Billionaire List, Adenuga, Alakija Too ...See New Rating

Nigeria’s harsh economic climate took a dangerous toll on the fortunes of its leading business executives as only three entrepreneurs made the billionaires’ club list released yesterday by Forbes financial magazine. According to the magazine, ...

Dangote Loses 32% Of Wealth In 6 months, Now 112 Wealthiest In World; See Full List Latest Ranking Of World's Billionaires

The consequences of the ongoing recession and the drop in oil price have taken a huge negative effect on Africa’s richest man and President of the Dangote Group, Aliko Dangote, who has reportedly lost 32 percent of his wealth, according to the Bl...

Why We Angrily Killed Dangote HRM - Kidnappers

Three suspected kidnappers, arrested by the police, have told investigators that they killed the Human Resources Manager of Dangote Industries Limited, Mr. Istifanus Bello Gurama because of the company’s failure to pay a N100 million ransom. T...

2019: Presidency Cabals Shop For Buhari's Successor, Woos Dangote; Offers Him The President's Daughter As Bait, El-Rufai DROPPED

The Authority - With President Muhammadu Buhari barely two years in of­fice, members of his kitchen cabinet, who have constituted themselves into a cabal, are al­ready looking for his successor. Their actions are prompt­ed by growing questions...

RECESSION Hits 'almighty' Dangote; Sacks 48 Staff

Punch Newspaper - The current recession rocking the Nigerian economy has hit one of the biggest employers of labour in the country outside of the government as the Dangote Group, belonging to Africa’s richest man, Aliko Dangote, has fired 48 memb...

How CBN Deepening Recession By Reestablishing Dual Forex Rates To Gift Billions To Cabal

The Nigerian Central Bank has once again silently maintained a dual forex exchange rate, further aggravating Nigeria’s economic recession while festering corruption. In June of this year, after being implicated in the triggering of the economi...

I'm Not Dead - Dangote Cries Out

Rumoured death of Africa’s richest man, Nigerian Aliko Dangote has gained his attention on Sunday after the false news spread across several news websites.   Dangote tweeted at 14:00 GMT that he is alive and people should disregard t...

RECESSION: Hurray!! As Dangote Injects $20b To Wake Nigeria's 'Dead' Economy

Despite the ongoing economic recession, Africa’s richest man and President, Dangote Group, Alhaji Aliko Dangote, has restated his promise to invest about $20 billion in the economy in the next five years. Dangote, who stated this after receivi...


Showing posts with label Aliko Dangote. Show all posts
Showing posts with label Aliko Dangote. Show all posts

RECESSION: Dangote Loses $3b, Drops On 2017 Forbes World Billionaire List, Adenuga, Alakija Too ...See New Rating

ALIKO DANGOTE
Nigeria’s harsh economic climate took a dangerous toll on the fortunes of its leading business executives as only three entrepreneurs made the billionaires’ club list released yesterday by Forbes financial magazine.

According to the magazine, there are only three dollar-billionaires left in Nigeria, which include Aliko Dangote, Africa’s richest man; Folorunsho Alakija, the world’s second richest black woman, and Mike Adenuga, founder of Globacom.

For its 2017 rich list, Forbes upheld Dangote as Africa’s richest man, despite losing nearly $3 billion to devaluation of the Nigerian naira. Among those that dropped off the list are Femi Otedola of Forte Oil, and Abdulsamad Rabiu, founder of BUA Group, who fell off the billionaire list due to the fall in oil prices and devaluation of the naira.


“While Otedola fell off the list as a result of the crash in share price of his oil company, Forte Oil, a devaluation of the Nigerian currency, was blamed for Rabiu’s ousting,” Forbes said.

Alakija and Oprah Winfrey, American media mogul, are the only black female billionaires on the list, as the number of black billionaires shrank from 12 in 2016 to 10 in 2017.

In 2016, apart from Dangote Nigerians who made the list were Adenuga ($10 billion), Otedola ($1.8 billion), Alakija ($1.6 billion) and Rabiu ($1.1 billion), and they came in at 103, 1,011, 1,121 and 1,577 respectively.

The only Nigerians left on the list in 2017, however, include Dangote ($12.2 billion), Adenuga ($5.8 billion) and Alakija ($1.6 billion), who came in at 105, 250, and 1,290 on the global ranking. The rankings also show that Dangote and Adenuga remain richer than US President, Donald Trump, who lost about $1 billion in last year’s rating – three times less than what Dangote lost.

On the other hand Alakija upstaged Mo Ibrahim, Africa’s “leadership” billionaire, and Michael Jordan, one of the world’s finest basket ballers, to the 1,290 spot. With $1.1 billion, Ibrahim came in at 1,795, while  Jordan clinched the 1,567 spot with $1.3 billion.

Dangote Loses 32% Of Wealth In 6 months, Now 112 Wealthiest In World; See Full List Latest Ranking Of World's Billionaires

dangote
The consequences of the ongoing recession and the drop in oil price have taken a huge negative effect on Africa’s richest man and President of the Dangote Group, Aliko Dangote, who has reportedly lost 32 percent of his wealth, according to the Bloomberg Billionaires’ Index.

Punch Newspaper detailed that Bloomberg reported on Wednesday that Dangote lost $4.9bn or one-third of his wealth as the combined effect of falling oil prices and the June devaluation of the naira pushed him to No. 112 on the billionaires’ list with $10.4bn. Dangote was the world’s 46th-richest person in June.

Saudi Arabia’s Prince Alwaleed Bin Talal Al Saud fell by $4.9bn, a 20 per cent drop, the report added.


Alwaleed had said in November that all of his stakes in public companies, including Citigroup Incorporated, were potentially for sale, reversing a longstanding policy that some of his most-prized shareholdings were “forever.”

Wealth creation in China turned negative for the first time since the inception of the Bloomberg index five years ago, with the country’s richest losing $11bn in 2016 amid a slump in the Shanghai Shenzhen CSI 300 index and a seven per cent decline for the yuan against the dollar.

Alibaba Group Holding Limited’s founder, Jack Ma, closed the year with $33.3bn, adding $3.6bn in 2016. He dropped in and out of his place as Asia’s richest person for the first four months of the year before claiming it for good in May, after Alibaba’s finance affiliate, which is laying the groundwork for an initial public offering expected as soon as next year, completed a record $4.5bn equity fundraising round.

China has 31 billionaires on the index with $262bn, trailing the US, which has 179 billionaires who control $1.9tn, and Germany, whose 39 individuals have $281bn.

Russian billionaires also began to put the negative effects of the US and European sanctions behind them, reversing the combined $63bn declines for 2014 and 2015, and adding $49bn in 2016.

Wealth managers for the world’s richest are girding themselves for similarly frenetic start to 2017 as the seismic changes that voters demanded this year start to take shape.

“Expect the unexpected,” said Sabine Kaiser, founder of SKadvisory, which advises family offices on venture capital and private equity. “I don’t think family offices are overly concerned or getting too nervous but after Brexit and Trump, they’ve resigned themselves to market volatility.”

In a year when populist voters reshaped power and politics across Europe and the U.S., the world’s wealthiest people are ending 2016 with $237 billion more than they had at the start.

However, the Bloomberg Billionaire index revealed that the world’s richest made $237bn this year.

The gains were led by Warren Buffett, who added $11.8bn during the year as his investment firm, Berkshire Hathaway Incorporated, saw its airline and banking holdings soar after Donald Trump’s surprise victory on November 8. Buffett, who’s pledged to give away most of his fortune to charity, donated Berkshire Hathaway stock valued at $2.6bn in July.

The US investor reclaimed his spot as the world’s second-richest person two days after Trump’s victory ignited a year-end rally that pushed his wealth up by 19 per cent for the year to $74.1bn.

“The year 2016 has been event-driven with global news driving prices rather than fundamentals,” said Michael Cole, president of Ascent Private Capital Management, which has about $10bn of assets under administration.”

Why We Angrily Killed Dangote HRM - Kidnappers

Why We Angrily Killed Dangote HRM - Kidnappers
Three suspected kidnappers, arrested by the police, have told investigators that they killed the Human Resources Manager of Dangote Industries Limited, Mr. Istifanus Bello Gurama because of the company’s failure to pay a N100 million ransom.

Three men, Abubakar Gide (24), Abdullahi Salihu (22) and Babuga Adamu (25), were arrested by detectives attached to the Inspector-General of Police (IGP), Ibrahim Idris, Special Intelligence Response Team (IRT).

Nine gunmen abducted and killed Gurama when he went to negotiate for the release of four expatriates and a Nigerian, employees of Dangote Group. Those arrested explained that a single bullet to Gurama’s head sent him to the grave.


The suspects said they were expecting N100 million ransom but Gurama came with just N5.6 million. The nine men, who carried out the kidnap of the five workers, demanded N100 million and had already divided the money in their heads, with each netting over N11 million before Gurama’s arrival.

But instead of N100 million, the deceased came with N5.6 million. Salihu was said to have angrily shot Gurama in the head. They dragged his body from the point he was killed and dumped it in a river.

The police fished out Gurama’s decomposing body from the river. Investigators have also discovered that Gide was the one who brought the deal on the abduction of the five Dangote workers.

Gide, who resides around the community where Dangote Company is sited, noticed an increased in the number of Indians he was seeing and quickly thought of how he could enrich himself by kidnapping them. After brainstorming on the issue, he went to Kogi State and hired men, to enable him to execute the kidnap plan.

The kidnap was a success. Gurama was also described as the person who used to negotiate with kidnappers on release of kidnapped staff of the company. According to a police source, the suspects were tracked and arrested.

The police recovered three AK47 rifles from the suspects. The police source said: “It all started after four expatriates and one Nigerian working for Dangote Group in Ijebu-Igbo, Ogun State, were abducted on November 9.”

When Gurama was alerted about the kidnap of his colleagues and asked to go and negotiate their release, he had thought it was like other negotiations; fluid, simple and successful. The negotiation turned out to be his last.

On November 13, Gurama went to pay ransom for the five workers to be released. When the kidnappers discovered that the money was not N100 million as they demanded, they held Gurama.

When the IG got the information, he quickly deployed his IRT operatives to Ogun State. The team was led by a Chief Superintendent of Police (CSP), Abba Kyari. It was gathered that the operatives went undercover and embarked on a massive manhunt. The three suspects were eventually arrested.

The suspects were arrested between November 27 and December 3 in Ijebu-Igbo, Epe forest, Lagos State and Ajase-Ipo forest in Kwara State. The source said: “The suspects have confessed to the kidnapping and release of the five Dangote staff after collecting of N5.6 million.

At the same time, they confessed to the kidnapping and murder of Gurama of Dangote Group who brought the N5.6 million to them. According to their confessions, they were annoyed with Gurama for bringing N5.6 million to them, when they were expecting a minimum of N100 million from the company.”

On December 3, the suspects led operatives of IRT and policemen from Ogun State Police Command to the forest in Ijebu- Igbo, Ogun State, where three AK47 rifles, with six magazines and 160 rounds of ammunition used for their operations were recovered.

The suspects also led police operatives to Apoje River, where the decomposing body of Gurama was found, floating with a bullet hole in his skull. Most of his body parts had been devoured by fish.

The police moved the body to Sagamu General Hospital mortuary for autopsy. Police said they were still on the trail of the remaining six members of the gang. Another police source said four of the suspected kidnappers used their share of the N5.6 million to buy cows. “Police know the person keeping the cows and they are already tracking the person and the cows.

They are also trying to recover the remaining ransom,” said the source. A top police officer said it was a wrong move to have used Gurama as a negotiator in releasing his colleagues.

The source said that the kidnappers saw Gurama as a symbol of Dangote and wealth. To them, Dangote Company should be able to afford N100 million.

Friends of Gurama have taken to Facebook, mourning his sudden death. One of his friends, Okeke Ogechukwu, said: “So it’s true? Gurama is really gone? Murdered! I still can’t believe it.” Shatu Gani has this to say:

“Tribute to a friend I have known for some time now. He was a wonderful person. Not up to two months ago, he celebrated his 20th wedding anniversary and today he is lifeless.

What a wicked world? Rest on my friend and may God console madam and the boys.” Babs Oluwabukola Aisha said: “Your sudden murder by kidnappers hurt my heart so deep.

My great counsellor, each moment I scroll through our chat, I imagine someone could just wake me from my sleep; that it’s all dream. You are so amazing to be forgotten so soon.”

Shady Ashafa cursed Gurama’s killer. She said: “I’m in a rude shock! A few weeks ago, we celebrated your 20th wedding anniversary! Whoever kidnapped and cut your life short, will surely die too! And there shall be no peace for the wicked!”

2019: Presidency Cabals Shop For Buhari's Successor, Woos Dangote; Offers Him The President's Daughter As Bait, El-Rufai DROPPED

Buhari dangote el-rufai
The Authority - With President Muhammadu Buhari barely two years in of­fice, members of his kitchen cabinet, who have constituted themselves into a cabal, are al­ready looking for his successor.

Their actions are prompt­ed by growing questions over alleged governance deficits of President Buhari’s tenure.

The AUTHORITY learnt that members of the cabal run­ning Aso Rock are no longer comfortable with Buhari’s per­formance and are worried that the North could lose the Pres­idency in 2019 if nothing was urgently done.




Leading members of the ca­bal are largely from Adamawa, Borno and Katsina States.

Sources also confirmed to The AUTHORITY that the high-stake game is borne out of the deep knowledge of the Pres­ident’s health, which has fuelled speculations that Buhari may not run for a second term on health grounds.

Age is also not on his side. Born on December 17, 1942, President Buhari would be close to 77 years old by 2019.

Consequently, the North, which fought tooth and nail to re­trieve power from the South, has started looking beyond Buhari.

The AUTHORITY fur­ther gathered that Africa’s rich­est man Aliko Dangote, who like the United States President-elect, Donald Trump, lacks any prior experience in government, has been fingered by the cabal as a worthy replacement for Buha­ri, come 2019.

To give more teeth to this quirky plot, some match-mak­ing by the cabal between Dangote and Buhari’s daughter, Fatima, was fine-tuned but ran into stormy waters.

Dangote, according to sourc­es, was already warming up for the marriage and for a shot at the Presidency.

But Fatima, who, like her stepmother Aisha Buhari, has scant regard for the cabal’s ar­rowhead, “out-rightly” re­jected the choice of Dangote.

She equally rejected the per­suasive pressure of another influ­ential member of the infamous cabal.
The AUTHORITY further learned that as 2017 draws near and in connection with crowning a successor to Buhari, key politi­cal realignments are expected to start taking shape.

A serving minister in the Bu­hari administration had recently shown how fluid the situation is by reportedly sending a text mes­sage to a member of the Peoples’ Democratic Party (PDP), asking about a “post-Buhari” scenario.

Today, Buhari has become very unpopular in the North due to the inability of his government to deliver governance that direct­ly impacts the people.

On the other hand, the na­ture of the appointments he has made, defined by lack of consul­tation and inclusiveness, has al­ienated many.

The wife of the president had recently in a British Broadcast­ing Corporation (BBC) Hausa Service interview lamented that most officials of the government are not known to the President and the first family, adding that they are usurpers who did noth­ing to help the All Progressives Congress (APC) struggle in 2015.

The usurpers she was refer­ring to in that controversial in­terview are the core members of the cabal that call the shots in Aso Rock, notwithstanding Buhari’s claims to the contrary.

The core four-member pres­idency cabal under reference re­portedly didn’t vote in 2015 be­cause they didn’t register to vote.
As the opposition carefully watches the unfolding develop­ment and fine-tunes its plot, the emerging poser is how the cabal hopes to pull off the audacious gamble.

This remains a subject of speculation considering that they lack political skills and are very unpopular.
The AUTHORITY recalls that in her famous interview, Ai­sha Buhari, when asked to name those who had hijacked the gov­ernment, declared: “You will know them if you watch televi­sion.”

One of the key cabal arrow­heads has to-date allegedly cor­nered more than N5 billion school furniture contracts from Kaduna, Katsina and Sokoto States.

The Kaduna State contract has however been terminat­ed over “non-performance” by Governor Nasir el-Rufai, who unilaterally awarded it to Kadu­na Furniture and Construction Company (KFCC) without due process.

The initial sum for the Ka­duna furniture contract was N1 billion.

El-Rufai has never hidden the fact that his ultimate goal is the presidency. He has consist­ently told Kaduna State people that he is a one-term governor. The bad blood between a key member of the cabal, the chair­man of KFCC and El-Rufai, is re­portedly linked to the cabal of­fering the presidency to Dangote.

Sources further revealed that it was the last gasp effort to stop the Dangote-Fatima wedding using the Independent Corrupt Practices and Other Related Of­fences Commission (ICPC) that caused the anti-corruption agen­cy’s chairman to be suspended from office before Buhari inter­vened.

The cabal had sacked the ICPC Chairman, Ekpo Nta, without the President’s knowl­edge - because he did not play ball - over claims that his tenure had expired.

Ekpo was reportedly or­dered by the cabal to arrest Gim­ba Kumo, a former managing di­rector of the Federal Mortgage Bank.

Similar efforts with the Na­tional Security Adviser (NSA) and the Economic and Financial Crimes Commission (EFCC) re­portedly failed.

But the cabal never gave up, hence the reports in the media about the arrest of Kumo.

This Article First Published By The Authority Newspaper


RECESSION Hits 'almighty' Dangote; Sacks 48 Staff

Dangote
Punch Newspaper - The current recession rocking the Nigerian economy has hit one of the biggest employers of labour in the country outside of the government as the Dangote Group, belonging to Africa’s richest man, Aliko Dangote, has fired 48 members of staff.

Our correspondents gathered that those sacked were made up of 36 expatriate and 12 Nigerian workers from the group’s headquarters and one of the subsidiaries, Dangote Cement Plc.

Though no official of the group was willing to speak on the matter on Sunday, one of our correspondents gathered from highly placed sources that the decision to sack the workers was not unconnected with the current high cost of running business in the country occasioned by the unavailability of foreign exchange and the unprecedented hike in the naira to dollar exchange rate.

It was further gathered that the huge amounts in foreign currencies being paid to the expatriate workers had become a burden on Dangote due to the steady depreciation in the value of the naira and the difficulties of raising enough dollars.

Consequently, the industrialist, according to sources, has decided to replace the expatriates with Nigerians, who have acquired the requisite experience on the job, as paying them in naira will be less problematic.

For the affected Nigerians, it was gathered that most of them had disciplinary issues, which made it easy for the group to do away with their services.

When contacted on Sunday, the Group Head, Corporate Communications, Dangote Group, Tony Chiejina, said he could not speak on the development.

However, in a letter signed by the President/Chief Executive Officer, Dangote Group, Aliko Dangote, dated Thursday, October 20, 2016,the firm stated that it was constrained to take the “tough” decision as economic factors had affected the cost of production.

The letter, which was titled: ‘Recent Retirement Exercise’, however, appreciated those affected for their contributions to the growth of the group.

The letter read in part, “This year has been a very challenging year for us as a business. The unavailability of foreign exchange coupled with an unprecedented hike in the exchange rate has resulted in increased costs across the organisation.

“This called for a proper review and adjustment of our costs across board to ensure efficiency and effectiveness in the deployment of our factors of production in a bid to eliminate redundancies that we know exist, which resulted in some tough decisions, which means losing staff, including some of our colleagues.

“On Friday, October 14, 2016, we began the process of staff cutbacks as it is imperative to review our human capital deployment for the required cutbacks that would ensure efficiency and eliminate redundancies in the allocation of human resources.

“This first phase of this exercise involved the cutback of 36 expatriate staff across the Dangote Cement Plc and Dangote Industries Limited, and 12 local staff members in Dangote Industries Limited.”

As an organisation with international operations, the group promised that it would continue to review and restructure its human capital deployment to ensure “optimal allocation of skill sets and size of the workforce each function requires.”

The group urged the workers to shun lateness, improper dressing and other unsavoury behaviours in the workplace.

Bloomberg had in its latest ‘Billionaire Index’ reported that Dangote had lost $5.4bn of his fortune this year due to the fall in the value of the naira and the decision of the Central Bank of Nigeria to ration dollars to stem huge capital outflows in the wake of Nigeria’s worst economic crisis.

Dangote had recently urged the Federal Government to sell off the Nigerian Liquefied Natural Gas Company and other dormant but huge capital-generating enterprises and reinvest the proceeds in the economy to bring the country out of the current economic recession before the end of the fourth quarter.

Dansa Foods Nigeria Limited, which claims to be a member of the Dangote Group, has reportedly been unable to pay its workers for the past six months.

The company is being run by Alhaji Sani Dangote, a brother of Aliko, who is the Executive Chairman, with Aliko’s shares embedded in the firm.

Multiple sources in the Dangote Group claimed that Dansa Foods was not part of the group but was an independent company owned and run by Aliko’s brother.

However, in a statement announcing its participation at the just concluded Lagos International Trade Fair, the group listed some of its subsidiaries as Dangote Sugar Refinery, Dangote Agrosacks, NASCON Allied Industries Plc (Dangote Salt), Dangote Rice Limited, Dangote Cement Plc and Dansa Foods Limited.

It was reported that the company, which produces Dansa Juice and other goods, had laid off more than half of the workforce following dwindling sales and high cost of production caused by high exchange rate of the naira.

It was gathered that the company had suspended the production of Dansa Juice and other products, and was only producing Mowa Bottle Water.

As a result, the workers have reportedly embarked on a strike to press home their demand.

How CBN Deepening Recession By Reestablishing Dual Forex Rates To Gift Billions To Cabal

buhari and emefiele
The Nigerian Central Bank has once again silently maintained a dual forex exchange rate, further aggravating Nigeria’s economic recession while festering corruption.

In June of this year, after being implicated in the triggering of the economic collapse, the Central Bank announced the floating (devaluation) of the Naira to allow the interbank rate match up with the parallel market, BDC rate. However since then, while the BDC rate has further dropped to N465/$1 (currently), the interbank rate has been artificially held at around N312/$1. This has thus created and maintained a 50% disparity between the two rates.


Periodically injected CBN announcements and sudden new regulations have targeted the BDC dollar supply thereby deliberately expanding the gap.

The negative impacts of the duality in rates have been recognized and thoroughly criticized by local and foreign experts and entities. This rate-dichotomy does not only drive away investment but also directly promotes corruption while siphoning away billions in government dollars given to cabal at the subsidized rate. With all features implicated in contributing to and exacerbating the recession.

Those with access to CBN-subsidized dollars have been accused of engaging in the sale and supply of this to BDC customers and retailers thereby raking 50% profit on each dollar at the current rates. Large companies with connections to the powers that be and CBN management are enabled to create phony dollar requests used to purchase items for needy BDC customers, thus circumventing the law and immediately making 50% on the dollar; $500,000 on every million dollars round tripped. [See: Sanusi: FG Creates Billionaires through Forex Round Tripping; August 25, 2016]

Nigeria’s government corruption-made billionaire Aliko Dangote was gifted a whopping $100 million via this CBN cabal-funding scheme, according to a report by Reuters this June, which examined just a 3-month span of CBN-released figures. This translates to a staggering gift of as much as half a billion dollars by the Apex Bank to a single cabal in one year and billions of dollars to the handful of cabal for the period. The CBN was found to sell as much as 10% of all government dollars to just Dangote for his personal needs at the official subsidized rate. We are talking about catastrophic loses of Nigeria’s revenue. Millions of Nigerians suffer and die for one man to be pleased.

At the current rate, on every billion subsidized dollars the CBN sells to Dangote, he will immediately make a massive half a billion dollars. This loss of revenue of the masses has been accused of being directly responsible for the deepening economic recession. Small businesses are not given access to dollars and have been folding up leading to job losses in the millions while the cabal are fed fat on Nigeria’s oil earnings, making economic recovery impossible. Femi Kuti asked why Buhari does not simply rename Nigeria “Federal Republic of Dangote?”

The FGN is seeking to borrow $1 billion in eurobond while giving the same and more out in gift to the cabal by maintaining the amphibious forex rates.

The same cabal who in partnership with the Central Bank and successive governments including the present, keep the nation in reverse and got it into a recession, have now coerced the government to sell them its assets as a fallacious “means out of the recession.”

And it’s happening all in the masses’ faces. Someone must have taught the cabal-controlled government that it’s easy to keep the Nigerian masses distracted from noticing dangerous and treacherous manipulations: just show them some money found with Patience and they will be stupidly patient. I resist agreeing.

God will deliver Nigeria.
Peregrino Brimah; @EveryNigerian

Source: NewsRescue

I'm Not Dead - Dangote Cries Out

I'm Not Dead - Dangote Cries Out
Rumoured death of Africa’s richest man, Nigerian Aliko Dangote has gained his attention on Sunday after the false news spread across several news websites. 

 Dangote tweeted at 14:00 GMT that he is alive and people should disregard the malicious report.

“I am hale, hearty and alive. Please disregard malicious report saying otherwise. Thank you,” he said.  
The rumour is believed to have started from a German website on Sunday morning and later picked up by many websites in Africa. 

 The website reported that Dangote had “died in Germany after a short illness which was confirmed by his family”. Nigerian media are reporting that Aliko Dangote’s lawyers are in the process of taking legal action against the website which still has the story online. 

 Aliko Dangote is the 67th richest person in the world and the richest in Africa with an estimated net worth of US$12.9 billion as at September, according to Forbes. 

This is a decline from $15.4 billion in March due to Nigeria’s recent devaluation of the Naira.

RECESSION: Hurray!! As Dangote Injects $20b To Wake Nigeria's 'Dead' Economy

RECESSION: Hurray!! As Dangote Injects $20b To Wake Nigeria's 'Dead' Economy
Despite the ongoing economic recession, Africa’s richest man and President, Dangote Group, Alhaji Aliko Dangote, has restated his promise to invest about $20 billion in the economy in the next five years.

Dangote, who stated this after receiving the 2016 African Business Leader award from a United Statesbased non-governmental organisation, Africa- America Institute (AAI), said the money would go into projects ranging from a petroleum refinery, petrochemicals, fertiliser, gas pipeline and backward integration in sugar and rice production.


“Over the next few years, we will be investing nearly $20 billion in projects ranging from a petroleum refinery, petrochemicals,fertiliser, gas pipeline, and backward integration in sugar and rice production. These projects will create over 250,000 jobs and provide foreign exchange earnings and savings of $16 billion for the country and help diversify our economy.

“Central to this developmental trajectory is the need for capacity building and ramping up of the quality of skills of a fast growing African workforce. “Despite the current economic challenges, we will continue to scale up the value of our investments not only in Nigeria, but also across the entire continent, because we believe in Nigeria and Africa’s potential.

“We believe that it is only by sustained massive investments in infrastructure across the continent, supported with access to education, that Africa can reach its full potential,” he noted. In recognition of his immense contribution to human capital development in Africa through the establishment of businesses across the African continent, the business guru was named and presented the award at a colourful ceremony held on the sideline of the United Nations Congress held in New York.

Reacting to the recognition, Dangote said he was humbled considering the pedigree of the award, which celebrates African achievement at the global stage. At the award Gala themed: “Education: The Key to Africa’s Economic Growth,” Dangote expressed delight that the Institute brought education in Africa to the front burner, noting that he had always been passionate about education because it is a weapon of liberation.

Drawing a reference from a Nelson Mandela quote that: “Education is the most powerful weapon which you can use to change the world,” the Chairman of Dangote Cement said he identified himself with laudable initiatives that seek to promote educational growth and development, particularly in Africa. He said: “As a matter of fact, I am a founding member of the Gordon Brownled Global Business Coalition for Education.

“Education is also one of the cardinal areas that the Aliko Dangote Foundation focuses on. I believe quality and affordable education will address the immense social and economic inequalities that often breed discontent in many parts of Africa. ”

I also believe education will strengthen the human capital that will drive Africa’s development in the 21st Century. “I am happy to note that AAI has been contributing to Africa’s development, through training and education, since it was founded 63 years ago.

This award is coming at a time the Dangote Group is rapidly expanding its footprints across Africa, and into new sectors. “Last year alone, we commenced cement operations in Ethiopia, Zambia, Cameroon, South Africa, Senegal and Tanzania.

By 2019, we will have operations in 18 countries with a total capacity of nearly 80MMTPA, thus making us the largest cement producer in Africa and the 6th largest in the world.” Commending the organisers for the recognition, he said the award would further encourage the group to redouble its efforts as it works towards promoting Africa’s economic renaissance.


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