Home General News Dangote Contributes 10% Of Nigerian's GDP

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.

Champion of Online News

Must Read

Bayero University Law undergraduate says she stabbed her hubby in self defense

Hanan, the Law undergraduate of the Bayero University Kano, who has been accused of stabbing her husband, Saeed Hussein, at their home in Kano...

Lady weeps after she was thrown out of a moving car by kidnappers in Rivers state

A Lady escaped being abducted in Port Harcourt, Rivers state today June 22nd.   Broadcaster Chioma Ezenwafor who shared the story online, stated that there was...

Intersex athlete, Caster Semenya accuses IAAF of using her as ‘human guinea pig’ amid hormone testing controversy

South African Olympic champion and intersex athlete, Caster Semenya has accused world athletics' governing body the IAAF of using her as 'a human guinea...

President Buhari commends Nigerians for living peacefully abroad

President Buhari today in Abuja commended Nigerians residing in foreign countries for living peacefully with their host communities.   Giving the commendation when a delegation of...

EFCC secures interim forfeiture of N60m cash traced to Ex-Zamfara State SSG

The Economic and Financial crimes Commission, EFCC, Sokoto zonal office has secured the interim forfeiture of N60 million cash linked to a former Secretary to...