Headlines
Refinery Boost: Aliko Dangote now 65th richest person in the world with $28bn
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.
Nasiru Yusuf Ibrahim
The management of Bayero University, Kano (BUK) has commenced a preliminary investigation into allegations linking a person reportedly identified as one of its students to acts of online impersonation and financial misconduct circulating on social media.
In a statement issued by the Director of Public Affairs, Lamara Garba, on behalf of the Registrar, the university said it had taken note of the claims being discussed in public commentary and across various online platforms.
The statement noted that BUK maintains strict standards of conduct, discipline, and character for all students throughout the duration of their studies, adding that any behaviour capable of bringing the name and reputation of the institution into disrepute is treated with the utmost seriousness.
According to the university, the alleged actions of an individual student should not be seen as a reflection of the values or character of Bayero University Kano as an institution.
“In view of the allegations, the University has commenced a preliminary inquiry to ascertain the facts surrounding the matter. The appropriate University authorities are reviewing the issue in line with the institution’s established rules and disciplinary procedures governing students’ conduct,” the statement said.
The management also commended the public-spirited efforts of Professor Farooq Kperogi and other individuals who provide financial assistance to students in need, particularly by supporting registration fees and other educational expenses.
The university noted that such acts of generosity continue to play an important role in expanding access to education and supporting deserving students.
BUK assured members of the public that if the allegations are substantiated, appropriate disciplinary measures will be taken in accordance with the university’s regulations and relevant laws.
The institution also urged the public to allow the investigative process to run its course and to refrain from speculation or the spread of unverified information.
Ibrahim Khalil
The Governor of Kano State, Abba Kabir Yusuf, has relieved the State Head of Service, Alhaji Abdullahi Musa, of his appointment with immediate effect.
KANO FOCUS reports that the development was disclosed in a statement issued on Tuesday evening by the Director-General, Media and Publicity, Government House Kano, Sunusi Bature Dawakin Tofa.
According to the statement, the decision forms part of the ongoing efforts of the current administration to reposition the state civil service for greater efficiency, discipline, and improved service delivery across government institutions.
Governor Yusuf expressed appreciation to the outgoing Head of Service for his contributions and dedication to the service of Kano State during his tenure.
“We wish him the best in his future endeavours and pray for his continued success in all aspects of life,” the governor said.
The governor also directed that Hajiya Bilkisu Shehu Maimota, Permanent Secretary, Administration and General Services at the Cabinet Office, should serve as Acting Head of Service pending the appointment of a substantive replacement.
The statement further directed the outgoing Head of Service to hand over the affairs of the office to the acting Head of Service no later than Wednesday, March 11, 2026.
Nasiru Yusuf Ibrahim
The Board Chairman of Belraados Limited and Kano State Chairman of the Arewa Consultative Forum (ACF), Dr. Goni Faruk Umar, on Saturday met with the former President of Brazil, Mr. Michel Temer, during the opening dinner of the 26th Expodireto Cotrijal in Brazil.
KANO FOCUS reports that Dr. Umar was seen exchanging a handshake with the former Brazilian leader at the event held in Não-Me-Toque, a city in the southern part of Brazil hosting the annual international agribusiness exhibition.
The Expodireto Cotrijal is one of the largest agricultural trade fairs in Latin America, attracting policymakers, agribusiness investors, researchers and stakeholders from across the globe to discuss innovations and opportunities in the agricultural sector.
Participants at the event are expected to explore partnerships and share ideas aimed at boosting agricultural productivity and strengthening international cooperation in agribusiness.
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