HOW CEMENT KING, ALIKO DANGOTE MADE $6 BILLION IN 2018

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Nigerian business mogul, investor, philanthropist and owner of
the Dangote Group, who is also known as the richest man in
Africa, Aliko Dangote added a whopping sum of $6 billion to
his huge wealth in 2018.
Dangote had frequented Forbes Top 100 list of richest people
in the world, his peak on this list was in 2014 when he became
the 23rd richest person in the entire world. Currently,
according to the official Forbes website, the business magnate
is the 66th most powerful person worldwide.
Dangote’s business interests encompass many industries,
including oil and gas, consumer goods and manufacturing
which is subdivided into Dangote Cement, Dangote Suger,
Dangote Pasta, Dangote flour, Dangote Fertilizer. According to
Forbes, about 80% of his conglomerate’s revenue comes from
Dangote Cement. Interestingly, in 2018, Dangote industries
made a whopping sum of 6 billion dollars worth of profit which
is estimated to over 2trillion, one hundred billion Naira. It is
assumed that this proceeds came from all his various
industries.
As of Tuesday, 26 February 2018, Dangote’s valuation spiked
$5.81 billion or 53.6 per cent in a day. The new venture in
Fertilizer adds significantly to his net worth. Dangote Cement
Plc also for the first time in quantum years recorded an
increase of N186bn in its profit after tax for the 2018 financial
year. The financial statement for the year which was made
available to the Nigerian Stock Exchange in which it was
evidently showed that the company’s profit after tax increased
from N204bn in 2017 to N390bn in 2018.
Not forgetting that the Fertilizer plant is capable of producing
2.8 million metric tons of urea a year, sits on more than 6,700
acres of land along the coastal line of southern Nigeria and
has been valued at $5 billion.
Dangote Sugar Refinery Plc increased significantly dividend
payable to shareholders for the financial year of December 31,
2018, to N21 billion. The company’s Chairman, Aliko Dangote,
made this known at the 2018 Annual General Meeting (AGM)
in Lagos.
It’d seemed, he would make more money come the end of
2019 if Dangote Refinery becomes operational. Dangote is
constructing an integrated refinery and petrochemical complex
in the Lekki Free Zone near Lagos, Nigeria. The refinery is
expected to be the world’s biggest single-train facility, upon
completion in 2019. Estimated to cost $9bn, the refinery will
produce Euro-V quality gasoline and diesel, as well as jet fuel
and polypropylene. The project is expected to generate 9,500
direct and 25,000 indirect jobs.
The new refinery will double Nigeria’s refining capacity and
help in meeting the increasing demand for fuels while
providing cost savings. This would mean more money for the
billionaire as he’d become a whole lot richer.
According to records, his wealth estimate is bigger than the
second and third Africa richest men combined as depicted on
the Bloomberg Billionaires Index for world’s 500 richest people
include Natie Kirsh (South Africa) and Johann Rupert (South
Africa).
Dangote top 100 billionaire list by Bloomberg, he is ranked the
66th richest man in the world. Bloomberg Billionaires Index
ranks of the world’s richest people daily using their net worth
and their daily business stock activities. Only African on the
top 100 billionaire list by Bloomberg, he is ranked the 66th
richest man in the world.

59 COMMENTS

  1. This man has being a good business man right from his childhood days , he has achieved a lot and will continue to earn cos of his every new technique introduced into his business He is such a great man

  2. This man has being a good business man right from his childhood days , he has achieved a lot and will continue to earn cos of his every new technique introduced into his business He is such a great man indeed

  3. Nice business strategy…

    He took the risk to became what he is today..

    I don’t know whether you will follow his steps to achieve it.

  4. Do not despise your liitle beginning stay with gistsala because investment is one of keys to success

  5. This man has being a good business man right from his childhood days , he has achieved a lot and will continue to earn cos of his every new technique introduced into his business He is such a great man

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