Despite the unfavourable and unstable business climate, Aliko Dangote maintained his position as the richest man in Africa for the seventh year according to Forbes.
Alhaji Aliko Dangote, the President of Dangote Industries increased his net worth by $100m to $12.2billion.
Forbes said: “Dangote is looking beyond cement –his most valuable asset – and has been investing in a fertiliser production company and a large oil refinery. Dangote Fertiliser is expected to start operations in the second quarter this year.”
He was joined on the list by diamond mining heir Nicky Oppenheimer of South Africa ($7.7 billion) up $700 million last year to occupy the second place.
Other Nigerians on the African list are Globacom Chairman Mike Adenuga ($5.3 billion) adjudged the fifth richest in Africa and Mrs Folorunsho Alakija ($1.6 billion) rated the 15th richest in Africa.
Dangote was also on Bloomberg’s world 50 best persons in 2017.
Bill Gates is the richest in the world with a net worth of $86 billion followed by Warren Buffet ($75.6b) and Jeff Bezos ($72.8 billion).