Refinery increases Dangote's wealth to $28bn, now 65th richest worldwide - Newstrends
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Refinery increases Dangote’s wealth to $28bn, now 65th richest worldwide

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Refinery increases Dangote’s wealth to $28bn, now 65th richest worldwide

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.

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.

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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.

Refinery increases Dangote’s wealth to $28bn, now 65th richest worldwide

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Benue School Harassment: Authorities Investigate Assault on Female Student at Seat of Wisdom Aliade

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Assault on Female Student at Seat of Wisdom Aliade

Benue School Harassment: Authorities Investigate Assault on Female Student at Seat of Wisdom Aliade

Authorities in Benue State have launched an investigation following a disturbing incident at Seat of Wisdom Secondary School, Aliade, where a female student was reportedly harassed and assaulted by her peers. The event has raised serious concerns over student safety and supervision in the state’s schools.

According to preliminary reports, the victim, a female student at the school, was subjected to inappropriate treatment by a group of classmates while on school premises. The incident came to light after other students alerted the school authorities, prompting the administration to notify local law enforcement.

The Benue State Police Command confirmed that officers have begun a formal investigation. Police spokespersons said statements are being taken from witnesses, and the identities of those involved are being verified. Officials have emphasized that the safety and well-being of all students remain a top priority.

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School management has pledged full cooperation with authorities, stating that disciplinary measures will be taken against any student found responsible, while also offering counselling services for both the victim and other students affected by the incident. Parents and community leaders have condemned the act, describing it as unacceptable and a violation of students’ rights.

Child protection experts have stressed that incidents like this highlight the urgent need for robust safety policies, awareness programs, and reporting mechanisms within schools. They recommend that schools implement regular workshops on respect, personal boundaries, and peer conflict resolution to prevent future occurrences.

The case has sparked broader discussions across Benue State about the responsibilities of school administrators, teachers, and guardians in protecting students from harassment and ensuring a safe learning environment.

Authorities have assured the public that the investigation will be thorough, and anyone found culpable will face legal consequences in accordance with Nigerian law.

Benue School Harassment: Authorities Investigate Assault on Female Student at Seat of Wisdom Aliade

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Violent Protest in Ogoja After Man Allegedly Kills Girlfriend in Cross River

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Cross River Police Spokesperson, ASP Sunday Eitokpah
Cross River Police Spokesperson, ASP Sunday Eitokpah

Violent Protest in Ogoja After Man Allegedly Kills Girlfriend in Cross River

Tension has gripped Ogoja following the alleged killing of a 26-year-old woman, Moshie Igu, by her boyfriend, sparking a violent protest in Cross River and renewed concerns over gender-based violence in Nigeria.

According to the Nigeria Police Force, the suspect, 35-year-old Malime Ejor, allegedly carried out the attack in the early hours of Saturday, March 28, 2026, at a farm in Nwang Village, Ekajuk community.

Police spokesperson Sunday Eitokpah disclosed that preliminary findings show the suspect reportedly lured the victim to a nearby stream, where he attacked her with a machete, leading to her death.

Operatives responded swiftly after the incident was reported, arresting the suspect and rescuing him from an attempted mob action by enraged youths at the scene. He is currently in custody, while arrangements are being made to deposit the victim’s remains at the General Hospital mortuary in Ogoja. The police further confirmed that the case will be transferred to the State Criminal Investigation Department (SCID) in Calabar for a thorough and discreet investigation.

The situation escalated on Monday when hundreds of women and youths from Nwang I & II and other parts of the Ekajuk clan staged a protest, demanding the release of the suspect. The demonstrators marched to the Area Command in Ogoja, but the protest soon turned violent, with some protesters attacking officers and vandalising property, including a vehicle and parts of the Rapid Response Squad (RRS) facility.

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Security operatives were forced to deploy smoke canisters to disperse the crowd, while at least eight individuals were arrested in connection with the unrest. Authorities say the situation is now under control, and in a bid to ease tensions, those arrested during the protest were later released to a community leader.

The Nigeria Police Force reiterated its commitment to ensuring justice, stressing that the suspect remains in custody and will face due legal process. With the case set for transfer to SCID, authorities are expected to deepen investigations and prepare for prosecution.

The incident has sparked fresh conversations around femicide, domestic violence, and the increasing cases of relationship-related killings in Nigeria. Analysts warn that attempts by communities to interfere in criminal investigations—such as demanding the release of suspects—could undermine justice and embolden perpetrators.

Residents and stakeholders have been urged to remain calm and allow the law to take its course, as calls for justice for the victim continue to grow.

Violent Protest in Ogoja After Man Allegedly Kills Girlfriend in Cross River

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Gunmen Attack Wedding in Kaduna, Kill 13, Abduct Several Guests

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Commissioner of Police in Kaduna State is CP Muhammad Rabiu

Gunmen Attack Wedding in Kaduna, Kill 13, Abduct Several Guests

Suspected bandits have attacked a wedding ceremony in Kahir village, located in Kagarko Local Government Area, killing at least 13 people and abducting an unspecified number of guests.

The incident occurred late Sunday night in Kaduna State when heavily armed assailants reportedly stormed the venue and opened fire on attendees gathered for the celebration.

Eyewitness accounts indicate that the attackers arrived at about 11:47 p.m., shooting indiscriminately inside the wedding hall and causing widespread panic. A resident, Shehu Bala, said some guests sustained gunshot injuries during the assault.

According to reports, the gunmen operated for nearly an hour without resistance, leaving several casualties in their wake.

Injured victims were initially taken to Kagarko General Hospital, while those with critical injuries were later transferred to medical facilities in Kaduna for advanced treatment.

A community leader confirmed that 13 people lost their lives in the attack and have since been buried. He added that efforts are ongoing to ascertain the exact number of those abducted by the assailants.

The attackers were also said to have looted shops within the community, carting away food items, provisions, and drugs from a local chemist during the raid.

“The entire community was thrown into panic due to the heavy gunfire, forcing many residents to flee into nearby bushes,” the community leader said.

Police authorities in Kagarko have confirmed the incident but stated that investigations are still ongoing, particularly regarding the number of abducted victims. The spokesperson of the Kaduna State Police Command, DSP Hassan Mansur, also confirmed the attack, noting that a comprehensive report would be released upon conclusion of investigations.

Meanwhile, the Deputy Governor of Kaduna State, Dr Hadiza Sabuwa Balarabe, alongside a serving senator, visited injured victims receiving treatment at the hospital in Kagarko.

Gunmen Attack Wedding in Kaduna, Kill 13, Abduct Several Guests

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