Dangote Leads Africa for 11th year in a row, as Only 3 Nigerians Make Forbes 2022 Billionaires Exclusive List

Aliko Dangote remains the number one billionaire in Nigeria, and also in Africa and this is for the 11th year in a row Mike Adenuga, Rabiu Abdulsamad were also named in the coveted riche list by Forbes magazine

The only businesswoman to disrupt the billionaire list, Folorunsho Alakija, has dropped out from the index after her net worth declined.

Forbes has released its annual exclusive billionaires ranking with only three Nigerians, Aliko Dangote, Mike Adenuga and Abdul Samad Rabiu. In a web post published on Monday announcing its 2022 list of Africa’s richest people the name from Nigeria missing is Folorunsho Alakija.

The report noted that Aliko Dangote, President of Dangote Group retained his spot as the World’s richest black person with a fortune of USD13.9 billion. While Folorunsho Alakija is no longer near the highly coveted list.

Part of the reports reads: “For the 11th year in a row, Alike Dangote of Nigeria is the continent’s richest person, worth an estimated $13.9 billion, up from $12.1 billion last year following a 30% increase in the stock price of Dangote Cement, his most valuable asset,” “A surge in housing developments in Nigeria and growth in government infrastructure spending drove higher demand in the first nine months of 2021, analysts found.” Other names on the list Second to Dangote was South Africa’s luxury goods magnate, Johann Rupert. Two other Nigerians on the list include Abdulsamad Rabiu (5th) and Mike Adenuga (6th). Forbes said Mr. Rabiu recorded one of the largest wealth increases from the previous year’s list. Forbes report continues: “Nigerian cement tycoon Abdulsamad Rabiu, who is $1.5 billion richer after taking yet another of his companies public.”

“In early January 2022, Rabiu listed his sugar and food firm BUA Foods on the Nigerian stock exchange. He and his son retained a 96% stake in the company, which recently had a market capitalization of nearly $2.8 billion.” “ (Forbes discounts the values of stakes when the public float is less than 5%.) BUA Cement, in which he and his son have a 96% stake, listed in January 2020.” No female made the Forbes billionaire list for 2022. Business leaders of post-independence Nigeria Meanwhile Aliko Dangote is one of, if not the most vital businessman in Nigeria post-independence, as the cement mogul has established several companies creating jobs for Nigeria.

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