Nigerian Billionaire Aliko Dangote Loses N1.35T, 62% Of Net Worth In 2016 To Naira Devaluation


dangote loses 62 % of net worth in 2016

Sept 2nd, 2016 – Nigerian Billionaire Aliko Dangote Loses N1.35Trillion, 62% Of Net Worth In 2016 Due To Naira Devaluation

Nigerian currency massive fall has affected Africa’s wealthiest man, Nigerian billionaire Aliko Dangote.

According to Bloomberg latest Index reports, Mr Dangote net worth slump was caused by commodities prices and naira devaluation by the CBN.

Dangote whose net worth since January 2014 is $9.9 Billion has lost 62% of his net worth.

African 2nd-richest man, South African billionaire Christo Wiese on the other hand experienced 12% jump in fortune this year.

12 thoughts on “Nigerian Billionaire Aliko Dangote Loses N1.35T, 62% Of Net Worth In 2016 To Naira Devaluation

  1. I was hear one new word yesterday weyris call symparty. Symparty is not to de go party to drink beer o. Symparty is means say something is pain you for somebody wey something bad is do. Symparty is a thing of eiyaa or ewoo. So I am symparty into Dankote to be falling yakata for ground. He just fall yakata anyhow like cow wey they are want to kill for slota.

  2. Of course,Naira devaluation for the country at the moment is a disaster. Naira devaluation has already led to a chain of reaction in the market with no desired result. Our market force solely depend on oil exports to other nations to race the country’s revenue and for that reason,a lot of shake up and sharp rise in prices on importations of raw materials for production processes in our industries and other essential commodities has already hit the markets negatively. So such devaluation policy of our currency is counterproductive which is the major reason of the financial loses we now see with major investments in the country. No wonder the Nigeria Central Bank is now scrambling to strengthen and stabilize our already weak currency to avert the enormous damage caused by the unfavourable devaluation of our naira. The situation of our naira today is rather unfortunate but Aliko Dankote is not the only investor affected by the crash of our currency. Many foreign investors has been hit as well resulting into massive layoff of workers back into the labour market. So the need to strengthen our naira is now urgent than ever to revive the state of our economy so that we won’t see a total collapse of major businesses and industries that has been key in helping the nation in the aspect of employments opportunities owned by both national and foreign investors.

  3. He is the only authorized distributor for cement right ?
    Sorry pop’s,when the rain falls,it does not fall on one man alone. Welcome to Buharilazation where the dead are greatful for not being here to witness this shit called government.

  4. Sorry !!! I am not much of a mathematician, but the mere mention of the Trillion in terms of losses makes one wish the story is a bad dream from which one will awake and heave a sigh of relief. I hope and pray the businesses stay afloat and recover for the impact on the work force and possibility of lay-of in the current economic crunch just sends shivers down the spine.
    May your businesses recover soon sir !!!

  5. that is not going to make him beg for food like many Nigerians, that is not going to make him homeless like millions of Nigerians, that is not going to make his kids wear rags like many Nigerians, he is not going to sleep without electricity in his house like me and many Nigerians, his kids will not be sent home for school fees like my kids and many Nigerians

Leave a comment

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