Wednesday, 6 June 2012

Nigerians among Africa's Billionaires 2011

Aliko Dangote is worth $13.8 billion after making money from interests in sugar, flour milling, salt processing, textiles, real estate, oil, gas and cement. He is the richest person in Nigeria and is the 51st richest person in the world. His fortune grew 557% over the last year - growth that was sparked by listing Dangote Cement. This allowed his investments across Africa to be integrated with Benue Cement, and the company now constitutes a quarter of the Nigeria Stock Exchange's total market cap. He recently purchased a Bombardier aircraft as a birthday present for himself - it's worth $45 million.

Mike Adenuga is the second-richest person in Nigeria with a fortune of $2 billion. He is the 595th richest person in the world and made his money in telecommunications with Globacom, a carrier that has recently launched its 4G network. The company has also invested in the submarine cable connecting Nigeria to the world. His beginnings were small, as he started selling lace and Coca-Cola, but then he finally won a contract to build military barracks in the late 1980s. Adenuga also has a stake in the Equitorial Trust Bank, and is the chair of Conoil.

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