Dangote hits $30bn net worth, becomes only African in global top 100 billionaires – Newstrends
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Dangote hits $30bn net worth, becomes only African in global top 100 billionaires

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Africa’s richest man and Chief Executive Officer of Dangote Group, Aliko Dangote

Dangote hits $30bn net worth, becomes only African in global top 100 billionaires

Africa’s richest man and President of Dangote Industries Limited (DIL), Alhaji Aliko Dangote, has crossed a new financial threshold, with his net worth soaring to $30.3 billion as of October 24, according to the Bloomberg Billionaires Index.

The $2.25 billion surge in his fortune catapulted the Nigerian industrialist to the 75th position on the global billionaires’ list, making him the only African among the world’s top 100 wealthiest individuals.

The milestone comes on the heels of a series of strategic expansions by the Dangote Group, including the recent launch of a massive cement plant in Attingué, Côte d’Ivoire. The facility, which spans 50 hectares, boasts a production capacity of 3 million tonnes annually, making it one of the conglomerate’s largest operations outside Nigeria.

Back home, Dangote’s multibillion-dollar oil refinery in Ibeju-Lekki, Lagos, continues to reshape Nigeria’s energy landscape. Commissioned in May 2023, the 650,000 barrel-per-day (bpd) refinery began diesel production in January 2024, with petrol output commencing in September after overcoming crude supply bottlenecks.

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Speaking on October 22, Dangote revealed plans to list the refinery on the Nigerian Exchange (NGX), with a proposed sale of 5 to 10 percent equity within the next year. He noted that the move aligns with the group’s strategy, previously adopted for Dangote Cement and Dangote Sugar Refinery.

He also hinted at the possibility of the Nigerian National Petroleum Company (NNPC) Limited increasing its stake in the refinery—currently at 7.2 percent—once the next phase of the project is fully operational.

In a bold move to scale operations, the refinery has announced plans to ramp up output to 1.4 million bpd, a figure that would eclipse the current world leader, India’s Jamnagar refinery, which produces 1.36 million bpd.

However, the refinery’s aggressive expansion has stirred unease within Nigeria’s downstream sector. In June, Dangote launched a nationwide fuel distribution initiative, backed by the acquisition of 4,000 compressed natural gas (CNG)-powered tankers.

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) raised concerns over the development, warning that the refinery’s forward integration strategy could edge out smaller players and potentially trigger widespread job losses.

Despite the pushback, Dangote’s industrial juggernaut shows no signs of slowing down, as the billionaire continues to consolidate his dominance across Africa’s manufacturing and energy sectors.

Dangote hits $30bn net worth, becomes only African in global top 100 billionaires

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Ex-CBN Governor Godwin Emefiele Denies Allegations of Financing Terrorism

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Godwin Emefiele

Ex-CBN Governor Godwin Emefiele Denies Allegations of Financing Terrorism

Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has strongly denied allegations linking him to terrorism financing in Nigeria, describing the claims as “mischievous and malicious.”

In a statement released on Saturday, December 6, 2025, Emefiele said the reports were “entirely fabricated, baseless, and a deliberate attempt to malign my name, mislead the public, and sow confusion for motives best known only to the publishers and their sponsors.”

He emphasized that the fight against terrorism is too important to be trivialized by irresponsible reporting, warning that Nigerians deserve accurate information rather than “reckless misinformation.”

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“Throughout my service to the nation and in my private life, at no time have I been involved in any activity remotely connected to terrorism, terrorist financing, or any action that threatens the peace and security of our nation,” Emefiele stated. He added that he has never been invited, questioned, or investigated regarding such allegations and has no connection to the individual cited in the media reports.

“There is no scintilla of truth in the allegation,” he said, urging the public to disregard the claims entirely and calling on media organizations to verify facts before publishing sensational stories.

Emefiele’s statement seeks to reaffirm his reputation and distances him from any activities undermining national security.

Ex-CBN Governor Godwin Emefiele Denies Allegations of Financing Terrorism

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Shettima Inaugurates Multi-Million Naira Juma’at Mosque in Gumel

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Shettima Inaugurates Multi-Million Naira Juma’at Mosque in Gumel

Vice President Kashim Shettima on Friday inaugurated the newly constructed multi-million-naira Juma’at Mosque located within the Emir of Gumel’s Palace in Jigawa State.

According to a statement by Zainab Rabo, Senior Special Assistant on Media Affairs to Governor Umar Namadi, the event drew high-level dignitaries, including top politicians, first-class emirs, captains of industry, and prominent Islamic scholars from across the country.

Rabo disclosed that the mosque was built by the Kashim Shettima Foundation, adding that Governor Umar A. Namadi and the Sultan of Sokoto graced the ceremony.

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During the occasion, the Vice President congratulated the Emir of Gumel, Alhaji Ahmed Mohammed Sani, on marking 45 years on the throne, describing the milestone as a blessing and testament to exemplary leadership.

Shettima also reaffirmed his commitment—through his foundation—to initiatives that would improve the lives of Nigerians.

The Vice President further commended Governor Namadi for his notable strides in modern agriculture, noting that Jigawa’s progress under his leadership had positioned the state competitively within Nigeria and beyond.

“Governor Namadi is equal to the task, looking at his two-year achievements and the way he transformed Jigawa in modern agriculture,” Shettima stated.

 

Shettima Inaugurates Multi-Million Naira Juma’at Mosque in Gumel

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Police Launch Special Enforcement Team to Enforce Tinubu’s Ban on VIP Escorts

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Inspector-General of Police (IGP), Kayode Egbetokun

Police Launch Special Enforcement Team to Enforce Tinubu’s Ban on VIP Escorts

The Nigeria Police Force (NPF) has deployed a Special Enforcement Team in Lagos to enforce President Bola Tinubu’s directive ending the use of police officers as escorts and guards for Very Important Persons (VIPs).

The operation, according to a statement posted on the Force’s official X account on Saturday by the Force Public Relations Officer, CSP Benjamin Hundeyin, commenced at about 10:00 a.m. on December 6, 2025, across key locations in Lagos State.

Hundeyin confirmed that the team carried out compliance checks at major points, including the Lekki–Ikoyi Link Bridge, the Murtala Muhammed International Airport domestic terminal, and other strategic hotspots within the state.

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He disclosed that officers found “satisfactory and commendable” compliance with the presidential directive, with no incidents of unauthorised police escort and no arrests recorded.

“The Inspector-General of Police, IGP Kayode Adeolu Egbetokun, reiterates the Force’s commitment to the full implementation of the presidential directive,” the statement said. “The Nigeria Police Force remains resolute in redeploying its personnel to core policing duties aimed at enhancing general security, crime prevention, and the protection of lives and property nationwide.”

Hundeyin added that enforcement would continue across the country “without fear or favour,” urging Nigerians to support the push for a more professional and citizen-focused policing system.

President Tinubu had, on November 23, ordered the immediate withdrawal of police officers from VIP protection, directing that they be reassigned to frontline policing roles. According to the President’s Special Adviser on Information and Strategy, Bayo Onanuga, VIP protection will now be handled by armed operatives of the Nigeria Security and Civil Defence Corps (NSCDC).

The policy aims to free up police manpower for critical security operations, particularly in underserved communities, and enhance overall national security efficiency.

Police Launch Special Enforcement Team to Enforce Tinubu’s Ban on VIP Escorts

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