Dangote Cement lost about N7 from its share price to trade at N283 from N290 the previous day, negatively impacting Dangote’s income. Dangote Cement witnessed low investor sentiment as they set sight mostly on banking stocks which lifted the performance of the Nigerian Stock Exchange. Despite retaining his position as Africa’s richest man, a position he has held for over a decade, Dangote has lost close to $1 billion in the last 14 days.

 

He is currently worth about $20.9 billion from $21.2 billion

 Dangote promises to employ 100,000 Nigerians in his refinery Dangote, whose refinery was commissioned in May, promised to employ about 100,000 Nigerians in the refinery. Africa’s richest man disclosed this at the commissioning of the refinery, which was hailed as the biggest in Africa and the world’s largest single-train refinery. He stated that the refinery would generate over $21 billion in revenue and save Nigeria the much-needed foreign exchange which would have been used for fuel imports.