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Dangote, Adenuga, Abdulsamad, Otedola Make Forbes List With $26 Billion

Published

2 weeks ago

April 3, 2024

Forbes has listed Nigerian businessmen, Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola, as the top richest Nigerians in 2024.

This comes as the combined wealth of Nigeria’s top three richest businessmen dropped slightly by 11.23 per cent to $25.3bn, according to the Forbes Real-Time Billionaires released on Tuesday.

The three Nigerians are the President/Chief Executive of the Dangote Group, Aliko Dangote; BUA Group Chairman, Abdul Samad Rabiu, and Globacom boss, Mike Adenuga.

The figure was a reduction of $3.2bn from $28.5bn recorded by the business moguls in 2023.

A breakdown shows that the fortune of the founder of Dangote’s group reduced slightly from $14.2bn in 2023 to $13.4bn.

The wealth of the chairman of BUA group also reduced marginally to $5.2bn in 2024 from $8.2bn in 2023 while Adenuga’s fortune increased from $6.1bn to $6.7 billion within one year.

Meanwhile, Nigerian business magnate, Otedola, was listed as a new entrant to the billionaire list with a total net worth of $1.4bn

On the list, Dangote,ranked at number 144, was described as the richest man in Africa and the richest Black man in the world.

His business empire, Dangote Group, is one of the largest private-sector employers in Nigeria as well as the most valuable conglomerate in West Africa.

Adenuga, ranked at number 409 n the Forbes list, is a Nigerian billionaire businessman, his company Globacom is Nigeria’s second-largest telecom operator and also has presence in Ghana and Benin Republic.

He owns stakes in the oil exploration firm, Conoil.

Forbes estimated his net worth at $6.7bn in 2024.

Rabiu is a Nigerian billionaire businessman and philanthropist, the founder and chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, infrastructure and agriculture and producing a revenue in excess of $2.5bn and was ranked at number 581 in the Forbes list.

While, Otedola is a Nigerian businessman and philanthropist and the current executive chairman of Geregu Power Plc

He is ranked at number 2,152 with a networth of $1.4bn

He is the founder of Zenon Petroleum and Gas Limited, and the owner of a number of other businesses across shipping, real estate and finance.

He has recently invested in power generation as part of the liberalisation of the sector in Nigeria.

According to Forbes, there are 2,781 individual billionaires globally.

It labelled 2024 as a year for the planet’s billionaires, whose fortunes continue to swell as global stock markets shrug off war, political unrest and lingering inflation.

Forbes said, “There are now more billionaires than ever: 2,781 in all, 141 more than last year and 26 more than the record set in 2021. They’re richer than ever, worth $14.2tn in aggregate, up by $2tn from 2023 and $1.1tn above the previous record, also set in 2021. Two-thirds of the list’s members are worth more than a year ago; only one-fourth are poorer.

“Much of the gains come from the top 20, who added a combined $700bn in wealth since 2023, and from the U.S., which now boasts a record 813 billionaires worth a combined $5.7tn. China remains second, with 473 (including Hong Kong) worth $1.7tn, despite weak consumer spending and a real estate bust that helped wipe out $200bn in wealth and knocked 89 billionaires from the ranks. India, which has 200 billionaires (also a record), ranks third.”

“In all, 265 fresh faces are new to the World’s Billionaires. The richest of all is Italy’s Andrea Pignataro, a former Salomon Brothers bond trader behind financial software firm ION Group. He’s worth an estimated $27.5bn.”

According to th magazine, other notable newcomers include the founder of the Raising Cane’s fast-food chain Todd Graves ($9.1bn); Maggie Gu, Molly Miao and Ren Xiaoqing ($4.2bn each); three cofounders of fast-fashion giant Shein; iconic high-heel designer Christian Louboutin ($1.2bn); and Elon Musk pal, and Tesla and SpaceX investor, Antonio Gracias ($1.1bn).

It stated that its “World’s Billionaires list” was a snapshot of wealth using stock prices and exchange rates from March 8, 2024.

Related Topics:Aliko Dangote Femi Otedola Forbes

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Fagbemi warns against obstructing EFCC from performing its lawful duty

Published

7 hours ago

April 18, 2024

Fellow Press

The Minister of Justice, Lateef Fagbemi, SAN has warned against obstructing the Economic and Financial Crimes Commission (EFCC) from carrying out its lawful duty .

Fagbemi’s warning is contained in a statement in Abuja.

“This is a matter of very grave concern, it is now beyond doubt that the EFCC is given power by the law to invite any person of interest to interact with them in the course of their investigations into any matter, regardless of status.

“Therefore, the least that we can all do when invited, is not to put any obstruction in the way of EFCC, but to honourably answer their invitation.

“A situation where public officials who are themselves subject of protection by law enforcement agents will set up a stratagem of obstruction to the civil and commendable efforts of the EFCC to perform its duty is to say the least, insufferably disquieting’’.

He added that running away from the law will not resolve issues at stake but only exacerbate them.

“Nigeria has a vibrant judicial system that is capable of protecting everyone who follows the rule of law in seeking protection.

“I therefore encourage anyone who has been invited by the EFCC or any other agency to immediately toe the path of decency and civility by honouring such invitation instead of embarking on a temporising self-help and escapism.

“This can only put our country in bad light before the rest of the world’’.

He said institutions of state should be allowed to function effectively and efficiently.

“I stand for the rule of law and will promptly call EFCC, and indeed any other agency to order when there is an indication of any transgressions of the fundamental rights of any Nigerian by any of the agencies’’.

NAN reports that the EFCC had on Wednesday warned members of the public that it was a criminal offence to obstruct officers of the Commission from carrying out their lawful duties.

Section 38(2)(a(b) of the EFCC Establishment Act makes it an offence to prevent officers of the Commission from carrying out their lawful duties. Culprits risk a jail term of not less than five years.

The warning , the EFCC said, became necessary against the background of the increasing tendency by persons and groups under investigation by the Commission to take the laws into their hands by recruiting thugs to obstruct lawful operations of the EFCC.

On several occasions, the anti graft agency said, operatives of the Commission have had to exercise utmost restraint in the face of such provocation to avoid a breakdown of law and order.

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Unknown Gunmen Abduct Channelstv Reporter In Port-harcourt

Published

6 days ago

April 12, 2024

Ifunaya Emeka

Some unknown gunmen have kidnapped Joshua Rogers, the ChannelsTV reporter in Port-Harcourt, the Rivers State capital.

Politics Nigeria learnt that Rogers was picked up close to his residence at Rumuosi in Port Harcourt and to an unknown destination by the gunmen around 9pm on Thursday, April 11.

The reporter was driving his official ChannelsTV branded car when the hoodlums accosted, pointed a gun at him and took him away in the same vehicle.

Rogers was said to be returning from his official assignment in Government House after a trip to Andoni for a government event when the incident happened.

Already, the gunmen were said to have contacted his wife and demanded a N30million ransom for bis release.

His cameraman confirmed the incident and appealed to his abductors to set him free unconditionally.