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Aliko Dangote is Africa's richest person with a net worth of $12 billion. Ten other Nigerians on the Forbes Top 40 richest list.
| November 22, 2012
For the second year running, Aliko Dangote of Nigeria has topped the list of Forbes richest people with a net worth of $12 billion, up from $10.1 billion last year. Most of Aliko Dangote's net worth is derived from Dangote Cement, a publicly traded company, which operates in 14 African countries. Ten other Nigerians made the Top 40 list including Folorunsho Alakija of Nigeria, who joined the list as one of two women for the first time, ranked 24th with a net worth of $ 600 million. The only other women on the list is Isabel dos Santos of Angola, daughter of Angola's president, who is also an entrepreneur and investor. The other Nigerians on the list include: Dr. Mike Adenuga, of Globacom fame, ranked 5th with a net worth of $4.6 billion; Jim Ovia, of Zenith Bank and Visafone fame, ranked 19th with a net worth of $825 million. Alhaji Abdulsamad Rabiu, chairman of BUA Group, ranked 21st with a net worth of $675 million. Gen. Theophilus Danjuma, a former Defence Minister, also made the list with a net worth of $600 million and ranked 24th. Others are: Oba Otudeko, chairman of HoneyWell group, with a net worth of $575 million; Mohammed Indimi, ranked 24th, with a net worth of $550 million; Chief O.B. Lulu-Briggs, ranked 31st, with a net worth of $500 million; Sani Bello, former military governor of Kano state, ranked 37th, with a net worth of $425 million. Hakeem Belo-Osagie, of UBA fame, rounded of the Top 40 list with a net worth of $400 million. The combined net worth of the Top 40 Richest Africans is $72.9 billion up 12% over last year. This year, the minimum net worth required to make the list of the richest Africans was $400 million, up from $250 million in 2011. The Forbes list only tracks the wealth of African citizens who reside on the continent and so excludes Mo Ibrahim, the Sudanese-born billionaire who is a U.K. citizen, and Mohamed Al-Fayed, an Egyptian citizen, who resides in London.

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"The views and opinions expressed in these comment(s) or article(s) do not necessarily reflect the views or opinions of NGEX, its partners or its affiliates."
Tahir M.    Shanghai, China    December 02, 2012
Mr, Omotayo, You may be right in your observation. However, did you consider the cost of electricity and other factors of production in Nigeria? When all these are considered you may find that even though it may look expensive, one would still appreciate the efforts they are making in providing and producing the service and goods in Nigeria.
OMOTAYO, J. A.    Lagos, NIGERIA    November 23, 2012
Well written, Mr. Jimoh Ibrahim. But there are snags. First, in Nigeria, our movers of the industry get richer every year while the nation gets poorer every year. What is responsible for this strange phenomenon? In other parts of the world, when the rich gets richer, the state too gets richer.

Second, in other parts of the world, the rich not only employ people in their businesses but equally make the prices of their products affordable. In fact, prices get lower as more patronage comes. In Nigeria, the reverse is the situation. Wherever a Nigerian businessman does a business, prices of the products keep galloping until they get out of the reach of the common man.

Look at the price of cement, for example. The international rate is $55 - $65 per ton or $2.75 - $3.25 per bag. This translates to N445.5 - N526.5 per bag. Even if freight, duty, local transportation, profit, tax, etc amounted to another 100%, one would expect that this would be within N891 - N1,053 per bag at the retail outlet. But instead, a bag of cement costs about N1,800 - N2,000. The same can be said of telephone charges, etc. In other parts of the world, the prices would keep going down while they deal with local customers.

I think many things are actually wrong with our businessmen, but this is not the time to espouse on this issue. Nevertheless, let us hope that they will improve. God save Nigeria..
jimoh ibrahim    lagos, nigeria    November 22, 2012
I really hail all of u, seeing u as Nigerians dat invest their resources for Nigerians to explore is a great accolade for u all. I mean person like Aliko Dangote, Mike Adenuga, Visafon/zenith, Belo Osagie etc. I pray may God continue to increase u more. Several rich Nigerians prefer fixing their wealth in banks 4 interest which will not benefit any individual except the investor alone, i therefore pray dat God should grant u all long life so dat u bring more people out of labour market amin.

Anyway am looking forward too to claim any assistance any of u may wish to accord me. Bye
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