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Refinery Boost: Aliko Dangote now 65th richest person in the world with $28bn

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Nasiru Yusuf Ibrahim

President of Dangote Group, Aliko Dangote remains the richest man in Africa, and now the 65th richest man in the World, despite the volatility of the Nigerian currency against the dollar.

KANO FOCUS reports that Bloomberg, in its latest top 500 Billionaires Index released on Thursday, revealed that Dangote with a wealth of $28 billion had his wealth increased significantly after the commencement of operations of his newly built Petrochemical refinery, said to be worth over $20 billion. This new ranking is the highest the renowned entrepreneur has risen. He was previously ranked 83rd in 2022.

The Dangote Refinery located in Ibeju-Lekki, in the outskirts of Lagos, is the biggest single-train oil refinery in the world and one of the most complex, capable of processing most global crude types. It has the potential to transform Nigeria’s economy by making the country self-reliant for fuel. The refinery started producing premium motor spirit (petrol) in September among other products like diesel and Jet-A1, and it has more than doubled his net worth to $27.8 billion, according to the Bloomberg Billionaires Index.

No African is close to Dangote’s latest ranking as Johann Rupert, of South Africa is 174 on the world list, with a wealth of $13.6bn and Nicky Oppenheimer also of South Africa is number 224 on the world list with a wealth of $11.6bn. Other Africans on the list are: South African’s Natie Karsh, number 297 in the world with a wealth of $9.25bn, Egypt’s Nassef Sawiris on number 302 in the world with a wealth of $9.16bn, and Naguib Sawiris also of Egypt with a wealth of $7.37bn on number 407 in the world.

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. In calculating net worth, Bloomberg News strives to provide the most transparent calculations available, and each individual billionaire profile contains a detailed analysis of how that person’s fortune is tallied.

The index is a dynamic measure of personal wealth based on changes in markets, the economy and Bloomberg reporting. Each net worth figure is updated every business day after the close of trading in New York. Stakes in publicly traded companies are valued using the share’s most recent closing price. Valuations are converted to U.S. dollars at current exchange rates.

Ellon Musk and Jeff Bezos are the richest in the world with $242billion and $210 billion respectively in their kitties, while Mark Zuckerberg and Larry Ellison followed respectively with $204 billion and $185 billion on the world’s billionaires’ chart.

It would be recalled that Aliko Dangote was also recently named as among the topmost charitable man in the World by Richtopia, a digital periodical that covers business, economics, and financial news, based in the United Kingdom. This recognition came after he endowed his foundation, the Aliko Dangote Foundation (ADF) to the tune of over $1.25 billion.

Aliko Dangote started his Foundation in 1981, with a mission to enhance opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden economic empowerment opportunities.

Aliko Dangote Foundation was however incorporated in 1994 as a charity in Lagos, Nigeria. 20 years later, the Foundation has become the largest private Foundation in sub–Saharan Africa, with the largest endowment by a single African donor. The primary focus of Aliko Dangote Foundation is health and nutrition, supported by wrap-around interventions in education, empowerment, and humanitarian relief.

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Gully erosion in Kano: Gov. Yusuf partners World Bank, FG to implement mega project at Gayawa

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Mukhtar Yahya Usman

Governor Abba Kabir has visited Gayawa Gully Erosion site and promised to address the environmental challenges and improve the lives of the people in the area.

In a statement issued by the Governor’s Spokesperson Sanusi Bature Dawakin Tofa, the Governor made this promise during a visit to the site on Friday.

Governor Yusuf said that, the visit marked the new chapter in the journey towards addressing the persistent environmental challenges that have plagues the community of Bulbula- Gayawa for in Ungoggo Local Government which also affects parts of Nasarawa and Fagge local government areas for decades.

He added that, the urgent concerns raised by the devastating gully erosion necessitated immediate and decisive action to protect the lives and properties of the people in the community.

“The destructive effects of the gully erosion has not only claimed the lives but has inflicted untold hardship from the tragic loss of farmlands to the dangers faced by the children as they travel to school.” Gov. Yusuf emphasised

“The site has regrettably became a place where criminal activities flourished and the loss of children due to flooding during the rainy season, it is heartbreaking,” the governor lamented.

He added that, his administration is firmly committed to tackling the erosion challenges in Bulbula- Gayawa as part of the larger mission to address land degradation, environmental risks and impacts of climate change throughout the state.

Governor Yusuf revealed that the work would be done through the Agro-climatic Resilience in Semi-Arid Landscape (ACReSAL) under the supervision of state ministry of environment which enjoys strategic partnership with World Bank and the Federal Government of Nigeria.

The governor also informed the members of the community that, the ground work for the erosion control has been completed and it would require billions of naira to execute.

“The significant steps taken by the state government to halt indiscriminate and illegal sand mining activities in several areas and embarked on extensive land restoration projects including the rehabilitation of shelterbelt at Yanbawa and Sabongarin Ginzo.

“The restoration of over 21,261hectares of degraded land and the establishment of wood lot plantation, this initiative have been instrumental in mitigating desertification restoring land fertility and promoting sustainable livelihood for our people.

“Beyond controlling erosion, we are implementing community support programmes to revive livelihoods and rebuild what has been lost. Our livelihood support includes agricultural inputs and skill-building initiatives that will empower families and foster productivity in a secure and peaceful environment.

“The current administration is committed to ensuring that no community is left behind. Today, we are here to affirm that your voices have been heard, and we will tirelessly work to restore safety, security, and prosperity to Bulbula-Gayawa and its surrounding areas,” the governor assured.

In his response on behalf of the community, Village Head of Zango, Malam Hamza Jibrin Nuhu appreciated the concern shown by the governor, disclosing that Governor Yusuf was the first and only governor that visited the Gully Erosion site.

He also prayed for governor and wished him success in all the good policies planned for the development of Kano.

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Underperforming Officials Face Removal as Governor Yusuf Plans Cabinet Overhaul

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Mukhtar Yahya Usman

Kano State Governor, Alhaji Abba Kabir Yusuf, has announced a potential cabinet reshuffle, signaling his intention to remove underperforming members.

This follows his receipt of a report from a committee assessing the performance of his cabinet members.

Governor Yusuf shared this update during a live radio interview with select media outlets at the Government House, noting that the public would soon be informed of the government’s next steps.

Governor Yusuf emphasized that his close collaboration with cabinet members over the past year and a half has given him firsthand insight into their abilities, allowing him to make independent decisions on their future in his administration.

He affirmed that no commissioner in his administration lobbied for their position, adding that he based his appointments on each person’s experience, credibility, and expert recommendations.

Highlighting his expectations, Governor Yusuf said he requires absolute loyalty to himself, the New Nigeria People’s Party (NNPP), and the Kwankwasiyya Movement from his commissioners.

He stressed that he expects dedication, proactive initiatives, and a strong commitment to advancing Kano State’s development.

On poverty alleviation, the governor reported ongoing efforts to distribute foodstuffs across urban and rural areas, aimed at easing the hardship caused by the recent petroleum subsidy removal.

He assured that this assistance would continue to support vulnerable residents.

Governor Yusuf also revealed ongoing upgrades to KASCO, the state-owned fertilizer production company, to enhance agricultural output by providing farmers with adequate fertilizer supplies.

Additionally, he underscored his administration’s focus on empowering women and youth, noting that each month, 52,000 women and youths across the state receive N50,000 to start small businesses and promote self-reliance.

The governor’s remarks underscore his commitment to performance-driven governance and a responsive administration that prioritizes the welfare of Kano’s citizens.

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MNCH: Gov Yusuf re-opens Nuhu Bamalli maternity hospital

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Mukhtar Yahya Usman

As part of his efforts to reduce maternal and child mortality rate , Kano State Governor, Alhaji Abba Kabir Yusuf, has re-commissioned the Bamalli Nuhu Maternity Hospital following extensive renovations conducted by his administration.

This was contained in a statement issued by the governor’s spokesperson Sunusi Bature Dawakin Tofa on Thursday.

Addressing attendees at the hospital’s re-commissioning ceremony on Thursday, the Governor expressed satisfaction with the upgraded facility.

He noted that upon taking office, the hospital was in a deteriorated state and one of the first locations he prioritized for improvement.

“Today, the result of that commitment has come to fruition.”

Governor Yusuf urged stakeholders of the hospital to maintain the newly installed equipment and keep the facility clean, emphasizing the importance of providing effective healthcare services to the residents of Kano.

He reassured the people of the state that his administration is committed to delivering quality healthcare.

In line with this vision, he announced that contracts for the renovation of all General Hospitals across the State have been awarded to benefit all citizens.

During the event, the Governor distributed essential medical supplies to hospitals across Kano State.

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