The Central Bank of Nigeria (CBN) says it will start sourcing foreign exchange from Dangote Group as soon as the latter's refinery and fertilizer projects begin operations.Speaking during the weekend during a tour of the construction site, Godwin Emefiele, the CBN governor, said the operations from both plants will result in huge forex earnings for the country.The fertilizer refinery is [...]
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Aliko Dangote, Africa's richest man, Femi Otedola, billionaire businessman and Bola Tinubu, a national leader of the All Progressives Congress (APC), have been named members of the ruling party's presidential campaign council for the 2019 elections.Femi Adesina, presidential spokesman, disclosed this in a statement issued on Friday.The council made up of at least 70 individuals.It is co-chaired by Buhari and Tinubu,with Vice-President [...]
Aliko Dangote, president of Dangote Group, says the conglomerate's revenue base will hit $30 billion by 2020 -- a feat he would have considered impossible 10 years ago.Speaking at the first ever Africa Investment Forum (AIF) in Johannesburg, South Africa, the multibillionaire said five men built America and those five do not include President Donald Trump.He added that Africa could do [...]
Aliko Dangote, Africa's richest man, and his conglomerate, the Dangote Group, have been reported to be responsible for over 10 percent of Nigeria's gross domestic product (GDP).The report, published by TIME Magazine, says Aliko Dangote is currently worth $14.1 billion, but his company's investment is responsible for much more than his net worth.According to the World Bank, Nigeria's GDP stood [...]
The Nigerian Stock Exchange is now among some of the worst performing stocks globally.This is according to data compiled by Bloomberg.The bourse had been listed as one of the top five best-performing stocks globally at the end of 2017 by S&P Dow Jones Indices.At the end of 2017, the Nigerian Stock Exchange grew by 43%, a feat S&P Dow Jones [...]
Theresa May, the Prime Minister of the United Kingdom, departed Nigeria on Wednesday, after meeting President Muhammadu Buhari; Akinwunmi Ambode, governor of Lagos state; and business leaders in Lagos and Abuja.The Prime Minister made the visit, 30 years after Margaret Thatcher, the first female prime minister of the UK, visited the country to make deals with the former head of [...]
Aliko Dangote has revealed that at 61, he is not getting any younger, and he is willing to take on a new wife.Speaking with David Piling in a Financial Times interview, Lunch with FT, the multi-billionaire, who is Africa's richest man, revealed a soft side of himself and talked tall about his ambitions to buy Arsenal Football club after successfully [...]
Aliko Dangote, a Nigerian businessman, says private companies should donate one percent of their annual profit for the funding of the health sector.The head of Dangote Group made this statement while answering questions on Thursday after the expanded national economic council presided over by Vice President Yemi Osinbajo."We have had a very good meeting and one of the things that we [...]
The high and mighty were at the palace of Muhammadu Sanusi, emir of Kano, for the wedding of Fatima Dangote and Jamil Abubakar.While the bride is the daughter of Africa's richest man, the groom is the son of MD Abubakar, former inspector-general of police.President Muhammadu Buhari; Senate President Bukola Saraki; Yakubu Dogara, speaker of the house of representatives, led top politicians to [...]
Aliko Dangote, chairman of Dangote Group, says there are plans to commence the building of integrated sugar plants in six states in Nigeria.He made the announcement at a forum in Lagos to honour major distributors of Dangote Foods.He said the plants, expected to generate up to 100,000 jobs, would be built in Adamawa, Taraba, Nasarawa, Kwara, Kogi and Niger.He, however, [...]
It is no longer news that President Muhammadu Buhari will be standing for the February 2019 presidential election. And as much as many Nigerians may say the president has underperformed in the past three years, the president and his team believe another term will be an opportunity to do more.In the last two weeks, we carefully observed those members of [...]
Plans are underway for Dangote Cement Plc to raise $1 billion from a share sale on the London Stock Exchange, a report by Bloomberg has claimed.Bloomberg reports that the company, which is owned by Aliko Dangote, has approached investment banks to discuss a possible listing."The Nigerian company, controlled by Aliko Dangote, has approached investment bankers to discuss a potential UK [...]
Aliko Dangote, president of the Dangote Group, says the Apapa Wharf road being constructed by his company will be completed in a few months time and "Nigerians would be surprised to see the project delivered even before scheduled".According to a statement signed by Francis Awowole-Browne, a media relations officer with the company, Dangote made this assurance when he visited the [...]
Market capitalisation on the Nigerian Stock Exchange crossed N16 trillion at the close of trading on Wednesday, the first time the market would hit such.Also, the All-Share Index rose by 830.52 points or 1.89 percent to close at 44,885.24 compared with 44,054.72 achieved on Tuesday.Mobil Oil led the gainers’ table with N16.50 to close at N216 per share. Dangote Cement came [...]
Aliko Dangote, Nigerian entrepreneur, is now worth N4.3 trillion naira, a recent Forbes ranking has shown.Nigeria's 2017 budget was N7.298 trillion and Dangote's new net worth is more than half of it.His net worth, which is put at $12.2 billion, is five times the 2017 budget of Lagos state, which was N813 billion.According to Forbes, Dangote's wealth grew by $100 [...]
BY ADBULKAREEM ABDUL-SAMADThe National Emergency Management Agency, (NEMA) is in the news again. This time around for the good of humanity. I am one of those that have long questioned the heavy presence of foreign non-governmental organization supposedly providing humanitarian services in North East Nigeria. I was of the opinion that Nigeria could indeed take care of its humanitarian needs [...]
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