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Dangote Contributes 10% Of Nigerian’s GDP

 The CEO of the Dangote Group, Alhaji  Aliko Dangote, Africa’s richest man, is considered to contribute over 10% of Nigeria’s Gross Domestic Product (GDP) .

According to the report by TIME Magazine, the business tycoon is worth $14.1 billion, with his Company’s Investment contributing more than his total net worth.

In a report by the World Bank of Nigeria, the business sector’s GDP tallied at $404.653 billion at the end of 2016 business year, by which it maintained its stance as Africa’s biggest economy ranking South Africa and Angola. 

Dangote’s claim of contributing 10% of Nigeria’s GDP was evaluated and supported to be true by the economists outside the Group. 

According to the report by TIME Magazine, this claim indicates that Dangote’s Group investment is worth more than $40 billion, which includes food products, cement , Oil and Gas.

According to a survey, the Company is currently establishing the one of the world’s biggest greenfield refinery with an estimation worth over $10.5. The Group recorded a revenue of N240 billion in the second quarter of 2018.

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