• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home People Billionaire Watch

Dangote lost $4.12 billion since the naira devaluation, drops off top 100 richest people list

Olumide Adesina by Olumide Adesina
June 17, 2023
in Billionaire Watch, Lifestyle & Entertainment
Dangote Sugar turns preferred asset

Dangote Group Chairman, Aliko Dangote.

Share on FacebookShare on TwitterShare on Linkedin
  • Aliko Dangote’s wealth has decreased by $4.12 billion since the liberalization of the naira and the unification of exchange rates by the CBN.
  • Dangote’s ranking on the richest person list has dropped from 72nd to 101st, with a net worth of $16.8 billion.
  • The devaluation of the Nigerian naira affects the valuation of Dangote’s assets, including Dangote Cement, Dangote Sugar, and Nascon Allied Industries.

Dangote Group Chairman Aliko Dangote’s wealth has fallen by $4.12 billion since the CBN liberalized the naira and unified exchange rates.

Aliko Dangote, the richest man in Nigeria and Africa, has fallen from being ranked the 72nd richest person a week ago with a net worth of $21 billion to the 101st richest person in the world, with a net worth of $16.8 billion.  Aliko Dangote remains Africa’s richest person for 12 consecutive years.

Dangote’s wealth declines

At the close of trading on Friday, the FMDQ reported that the local currency had plunged to 663 naira against the dollar in the official market, from last week’s 461 naira. Dangote Cement, Dangote Sugar, and Nascon Allied Industries are among the billionaire’s naira-denominated investments.

RelatedStories

Meet Arnold Ekpe, new Chairman of Dangote Sugar 

Meet Arnold Ekpe, new Chairman of Dangote Sugar 

June 12, 2025
Aliko Dangote makes TIME100 world’s most influential philanthropists list 2025 

Aliko Dangote retires as Chairman of Dangote Sugar Refinery after two decades, banking expert Arnold Ekpe takes over leadership 

June 12, 2025

Nigerian banks are now able to buy and sell foreign currencies at market rates not dictated by the CBN, as Nigeria struggles to regain investor confidence with a more transparent foreign exchange regime.

Impact of Nigerian naira devaluation on Dangote’s Assets

The devaluation of the Nigerian naira directly affects the calculation of Dangote’s assets in US dollars, resulting in a lower valuation when the naira depreciates.

According to the Bloomberg Billionaires Index, Dangote’s fortune, including earnings from Dangote Cement, Dangote Sugar, and Nascon Allied Industries, has reached $16.8 billion.

Rabiu, the founder of BUA Group and a major shareholder in BUA Cement and BUA Foods, has experienced a decline in net worth and has been removed from the list of the world’s 500 richest people in the Bloomberg Billionaires Index.

The Bloomberg Billionaires Index, established in March 2012, provides a daily ranking of the world’s 500 richest individuals based on net worth. It relies on information from stock market events, economic indicators, and news reports, and offers profiles of each billionaire as well as tools for comparing their wealth. The index is updated daily using New York closing prices.

Meeting with President Tinubu and ongoing business discussions

Meanwhile, Aliko Dangote and Microsoft co-founder Bill Gates will meet with President Bola Tinubu at the state capital in Abuja on Monday. Dangote made the announcement Friday after a private session with Tinubu at Aso Rock Villa. “I’m not here to do much,” he told a state legislative correspondent. I’m here for the sake of it, and we’re going to meet the president when we get together on Monday.”

Dangote did not specify the purpose of Monday’s visit, but it is understood to be part of ongoing discussions President Tinubu has with key leaders in local and global business.


Follow us for Breaking News and Market Intelligence.
Tags: Aliko DangoteCBNDangote Group
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

Related Posts

Meet Arnold Ekpe, new Chairman of Dangote Sugar 
Appointments

Meet Arnold Ekpe, new Chairman of Dangote Sugar 

June 12, 2025
Aliko Dangote makes TIME100 world’s most influential philanthropists list 2025 
Appointments

Aliko Dangote retires as Chairman of Dangote Sugar Refinery after two decades, banking expert Arnold Ekpe takes over leadership 

June 12, 2025
CBN, forex
Financial Services

No recapitalisation deadline extension for BDCs, CBN says 

June 11, 2025
My company paid N450bn in taxes in 2024 - Dangote tells Pres. Tinubu 
Companies

My company paid N450bn in taxes in 2024 - Dangote tells Pres. Tinubu 

June 9, 2025
Dangote names road to its mega petroleum refinery after President Tinubu
Energy

Dangote names road to its mega petroleum refinery after President Tinubu

June 6, 2025
Tinubu commissions 37km Lekki Deep Seaport Access Road section built by Dangote 
Real Estate and Construction

Tinubu commissions 37km Lekki Deep Seaport Access Road section built by Dangote 

June 6, 2025
Next Post
Fuel subsidy: You can convert your 7.5kVA generator to run on gas for an average of N25,000

Fuel subsidy: Convert your 7.5kVA generator to run on gas for an average of N25,000

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • UK work visas drop 39% in 2024, health and care approvals plunge 85% amid stricter immigration rules 
  • Meet Lauren Leichtman, the first woman to build a billion-dollar fortune in private equity 
  • Technical education enrolment examination in Nigeria surges by 300% in 1 year – NABTEB  

Follow us on social media:

Recent News

UK, worker visa

UK work visas drop 39% in 2024, health and care approvals plunge 85% amid stricter immigration rules 

June 15, 2025
Meet Lauren Leichtman, the first woman to build a billion-dollar fortune in private equity 

Meet Lauren Leichtman, the first woman to build a billion-dollar fortune in private equity 

June 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics