This is the Billionaire’s watch where we give news of happenings around Nigerian billionaires and their networth. This week we take a look at Africa’s richest man Alhaji Aliko Dangote who recently clocked 61 and also Dr. A.B.C. Orjiako and his recent court case.
Aliko Dangote turned 61 this week and marked the celebration privately with his loved ones in his office. He was the only African on Bloomberg’s list of 50 most influential names who have had an impact on the world in 2017.
According to Forbes Magazine Dangote has a net worth of $12.2 billion. He leads the pack by virtue of his holdings in Dangote Cement, Dangote Sugar, Dangote Flour Mills, NASCON Allied industries and his ongoing Dangote Refinery and Petrochemicals.
Alhaji, as he is fondly called, owns the majority shareholder in Dangote Cement through Dangote Industries Limited (DIL) with an 85.06% stake amounting to 14,484,431,294 shares.
At our closing price of ₦254.90 on Friday 6th April, this amounts to a net worth of ₦3.6 trillion.
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DIL also has a 62.19% stake in NASCON Allied Industries amounting to 1, 647, 763, 557 shares. At our cut off closing share price of ₦21.20 on 6th April, this equates to a value of ₦34.9 billion.
Aliko Dangote holds a direct stake of 635,095, 014 shares. DIL also holds a 68% stake in Dangote Sugar refinery the firm amounting to 8.16 billion shares. With a share price of ₦21.45 as at close of trading on Friday 6th April, Aliko’s direct stake is valued at ₦13. 6 billion.
Dangote Flour: DIL has a 75.7% stake in the Dangote Flour firm amounting to 3,785,000,000 billion shares. On Friday 6th of April, the closing price of ₦13.80, this gives a valuation of ₦52.2 billion.
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JAIZ Bank: DIL has 2.5 billion shares in Jaiz Bank. As at close of trading on Friday 6th of April, with a closing price of N0.68, this equates to a net worth of ₦1.7 billion.
Dangote, in addition to being Africa and Nigeria’s richest man, is also Nigeria’s richest capital market billionaire with shares worth over ₦3.6 trillion.
Dr. Ambrose Bryant Chukwueloka [ABC] Orjiako, was born on October 1, 1960. He obtained an M.B.B.Ch. degree in 1985 from the College of Medical Sciences, University of Calabar.
Orjiako trained as a General Surgeon at the Lagos University Teaching Hospital (LUTH), Lagos, and thereafter specialized in orthopedic and trauma surgery. He became a fellow of the West African College of Surgeons (WACS) in 1996.
He ventured into private business with interests in both the upstream and downstream sectors of the Oil Industry, Shipping, Banking Insurance, and Pharmaceuticals.
ABC Orjiako is the Chairman of Seplat Petroleum and has indirect and direct holdings of 47,251,325 shares in the company valued at ₦31.4 billion. He is also the Chairman of Neimeth Pharmaceuticals.
The first building to be completed in Nigeria’s cutting-edge city of the future, Eko Atlantic, was reportedly acquired by the oil magnate.
Seplat made history as the first indigenous Nigerian company to make the London Stock Exchange list. SEPLAT has a dual listing on the Nigerian and London stock exchanges.
ABC Orjiako has been involved in a legal battle with AOS Orwell. AOS Orwell Ltd. had accused Orjiako of flouting a November 8, 2016 order made by Justice Shagari, restraining him from tampering with the assets of his company, Shebah Exploration & Production Limited, pending the determination of a debt recovery suit filed against the company.
Orjiako, however, asked the presiding judge, Justice Hadiza Rabiu-Shagari to withdraw from the hearing of the suit between AOS Orwell Limited and his company, Shebah Exploration and Product Limited.
Share prices for the Friday the 6th of April 2018 were used to calculate the valuations.