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Bloomberg claims Dangote loses almost half of his fortune over the past 6 months?

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As per Bloomberg Billionaires, Nigeria’s wealthiest man Aliko Dangote lost pretty much 50% of his $21billion in 6 months. Is this genuine? If true how come ?

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10 comments

  1. His wealth is tied to commodities. So nominally that MAY be true. But I don’t think he’s not worried because he invested very strategically and diversified away from single commodity holdings. His fate is also tied directly to the Nigerian project. If Nigeria does well, Dangote will be one of the richest in the world.

    Vote Goodluck and this shall come to pass.

    • So you are saying we should vote for the man that just made the richest man in Nigeria 50% poorer. Mind you, I am also getting poorer by the day as a result of the exchange rate.

      Imagine what happens to the poor. This is more poverty and you are saying we should vote again for my clueless ?? Pls, I don’t mind voting for you if you want to be president. This is risk taking and I am in for risk as long as you are not President Jonathan.. I am judging by GEJ’s over 5 years of leading the country.

      • You are NOT getting poor Ola, Please don’t try to deceive us. If you stay in Nigeria, and buy Nigerian made products, your money will take you farther. Food prices are going down. Production in Nigeria is increasing. Investment in Nigeria is increasing. It will take time for the Presidents policies to take root. Just like when you plant a seed, it doesn’t magically bare fruit. It must germinate, take root and GROW!

        You will only realize your poverty, after stealing and choping from Naija then you travel to london to go and jaiye…you’ll realize that there’s no life for you there.

        The exchange rate is not the fault of Jonathan. Do not join issues and try to deceive Nigerians. Nigeria’s naira is tied to OIL prices. Unless you have some magic to bring OIL prices back to $100 tomorrow…please keep quiet.

        As for Mr. Dangote, he is doing well for Nigeria. He is not one of those wealthy Nigerians that steal from us and pack all their money abroad, like yourself. He has taken the risk to invest in NIGERIA. The amount of investment he alone has in the SW of Nigeria is in the BILLIONs OF DOLLARS…please speak objectively about issues.

        • Why I said, GEJ is empty vessel is for a lot of reasons

          No wonder our country is backward, this is because we have people like Ayo Dele as middle class elite ( I guess).
          It’s sad that you believed in GEJ’s Propaganda machine.

          We deserve a lot better and together we can think positively and do things the right way. Nigeria is not the kind of country you need a weak leader to lead. In the history of Nigeria, our exchange rate has never been this bad.

          Education
          Economy
          Jobs
          Electricity
          Security

          There are loads of things you need to first of all spot as a leader that is having the direct interest of the masses. There is no point going offensive because it shows a great level of weakness so I won’t attack you other than lay my points.( In respect to investing in the country or not)

          Lets me talk on the list above.. It’s time to wake up from your/our slumber and let any leader that can’t meet up to standard requirement of the masses to please either step down or or step aside.

          The major is being short listed above.
          On Education:
          It is saddening to note the gaps in facultative learning in Nigeria and schools abroad. Lately, I have been more ‘cerebrally’ challenged that it seems all the well-spent, rigorous, energy-invested days,nights and years to study during my bachelors and masters degrees back at the University of Ife seems wasteful.

          I must say that I am a proud omo ile ife. I also acknowledge the recent rating of Unilag by NUC as 1st to none but the truth remains sacrosanct which is that, the standard of education in Nigeria is at the lowest ebb ever!….Then I ask myself, ‘why will the Federal Govt. establish more Universities when those presently available are not well-equipped to compete on the global level?…Then my answer after a hard thinking is that when you have a PhD holder President whose quality of speech, actions and reactions portrays that of a semi-illiterate, half-baked high school degree holder, then we are on a long thing!..‪

          Having said that about Education. I have met two ppl in this world and dined with them. The first is without Education or Ph.d or even 1st degree and the order is a full time bookworm.

          I can categorically tell you that, it’s not by book but by what you have in your head though the school, education will only prepare your brains to withstand any imbalance one faces in future. Here knowledge is even more powerful.

          There is a difference between you wish to do something great and you lack the ability to do it. You just don’t have the knowledge to do it. That’s GEJ’s case. He’s not the kind of person Nigerians need to bring about the Change even in a short period of time as 6 months. You can judge leader’s future in 6 months.

          On Economy.
          A dollar backed Economy is basically no economy at all or rather a petrodollar economy is useless for your own people and what does my president. He installed Washingtons puppets her serving the interest of their masters first. The likes of NOI does not need a rocket science to know is not in the interest of Nigerians.

          Diversification is the way forward in this aspect. You remove the petrol dollar aspect. He can’t even secure our boarders not to talk of securing our oil.

          When you are clueless, you are clueless. Please we should be where China is today building our fast rail roads ourselves from Nigeria to Senegal, building our refineries, gas turbines, Nuclear power plants. Where are we ??
          Still the same old story and for someone who does not understand the root cause has been in power for over 5 years and no drastic change. Things just get worse and worse by the day.

          Jobs
          Creating jobs is mostly about managing Human resources. As he been able to manage the excesses of his wife 1st ? Not to talk over 180 million people. Please !

          Security
          For how long ?? There is no point calling names or blaming anyone(The opposition) here. You are the leader. You have power. Please use it to call everyone to order and stop destroying or diving the army. Boko haram Under his regime over 15k Nigerians have died, millions fled the country. Is that not enough to just step down if you truly have the interest of the Nigerian people ?

          Electricity.
          Before the late president passed on, the president of Russia visited Abuja and they were already about signing nuclear deals to power our electricity. That is a president that has balls ( But he passed on too soon)
          Why GEJ did not continue that project but finished the Rail project his predecessor started ?

          You see what im talking about ?? We need someone that has the balls to bring about that change. You don’t even understand what change means.

          • Gbam !

          • Ola, God Bless you. I love you. I can see that you truly love this country and that you’re equally as passionate as I am. Thus, we share the same goal; to see Nigeria assume her rightful place in the world, and for Nigerians to be able to hold their heads up high anywhere we are!

            My only wish is that you look at the big picture and take certain factors into consideration. I hope you will not rush to a rash decision because of your disappointment or disaffection with the current state of affairs.

            It is my sincere belief that many of the issues you’ve raised did not start with this Present administration. In fact, if you analyze Nigeria’s current state of affairs, you would be able to draw a direct link to the dark years of military administration, where all things were centralized, bastardized and falsified. So please bare that in mind when you chose to vote for a man who played a significant role in initiating this decline.

            NOW on:

            Education:

            Nigerians are trained to cram and regurgitate information on standardized testing. This to me, is a VERY archaic way of teaching and learning. You are right, that new curriculum’s need to be designed, a new batch of educators need to be trained, and Nigerian students need to be reformed in the way they learn. These are MAJOR issues, wherein the results may take DECADES to correct. To that point, GEJ has started by investing in TEACHERS and TEACHER EDUCATION. Technical education has also been heavily invested in as well. How quick would you expect to see results? Please be realistic.

            Jobs:

            You have no point. Under this administration, statistics show that 1.2 million jobs were created. The issue is whether you believe them or not. But Agriculture has CERTAINLY improved, thus we can assume that work hands on those farms also increased. But various sectors have thrived in recent years if we look away from oil and gas

            Security:
            Now, Ola, if we’re being sincere, you would agree that during President Jonathans administration, the security situation has been HIGHLY politicized. The Bring Back Our Girls Campaign received INTERNATIONAL acclaim, but was EXTREMELY inneffective. It diverted attention away from those girls, in my view. Boko Haram, a creation of Northern Elites, exploded out of control. GEJ could’ve and perhaps should’ve managed things much better. But we MUST also lay MOST of the blame on the likes of Buhari, Sultan of Sokoto and other Eminent Nigerians who tried to scuttle GEJ’s attempt to address the issue. Then After APC was formed, it became their mantra. I feel like with this issue, there is some surreptitious undermining things going on with this Boko Haram issue. I feel like some Northern politicians are using it as a tool to either remove GEJ, or get control of Nigeria for their gain somehow. WE CANNOT LET THEM WIN. Because we will all be gnashing our teeth after. This is my FEAR. HOWEVER, Under GEJ, the Armed Forces have been refurbished, re-equipped and re-energized more than we’ve seen since the days of Civil War. If we’re being honest with ourselves. ALSO, the ENTIRE Security apparatus, except for the Presidency is being managed, supervised or orchestrated by Northerners… I know the buck stops with GEJ, but SOMETHING STINKS HERE!

            Electricity:
            I haven’t heard ANY politician say outright that PRIVATIZATION of POWER in NIGERIA was a BAD THING. Now that it is in PRIVATE hands, we will SURELY see improvements as investments poor in, skills develop, infrastructure is improved etc etc. I know in my area where I was before GEJ and where we are NOW. It is CERTAINLY not where I want it to be (24hrs constant) but it HAS improved. I would want to see solid investment in RENEWABLES, ALTERNATIVES and CLEAN COAL.

            With regards to NUCLEAR, it goes back to EDUCATION. Currently, I don’t believe…and I MAY be wrong, but we don’t have the domestic capacity to manage it. I have friends abroad who are ready and willing to come back home so long as the ground is ripe for their return, but as it STANDS, it is a fools dream to say you want to develop nuclear without the requisite skills and expertise to manage it EFFECTIVELY. Especially now that Terrorism is trying to take root in Nigeria (God FORBID) it would be unwise to pursue something that may end up affecting us NEGATIVELY down the line.

            My Broda, the choice remains yours. I pray for my country and kinsmen.

            GOD BLESS THE FEDERAL REPUBLIC OF NIGERIA.

            FORWARD EVER BACKWARD NEVER!!!

          • Stop deceiving yourself. A bag of Gari was N2000 in 2011 and N5200 now. You dont blame GEJ for dropped in value of Naira to N225, the man who could not manage plenty when Oil was sold for over $100 how can he managed when oil is now under $55. Throughout Abacah regime despite the drop in the price of oil and the economic blockage of Nigeria Naira never went above N80. The world bank economy policies of GEJ will make Nigerian poorer. Abacha relied on Late Prof Aluko team that has nothing to do with IMF and World Bank. Nigerians are poorer. And will remain poor under GEJ and Madam world Bank

          • If you want to live under Abacha again, go back in time, and do so. As for us, we are moving forward! No looking back. The economic realities of the world were fundamentally and totally different from what they are now. Inflation is a natural thing that occurs every where. What needs to be controlled is the rate of inflation. Comparing prices of goods in isolation is weak at best in describing Nigerians current economic realities.

            Like I said, how does the Naira devaluation affect the price of Gari? when you analyze it, you will realize that there is no to limited effect because Gari is a LOCALLY PRODUCED product, and NOT imported from abroad.

            What IS affected, is the ability of you and your kind to steal our money and travel to london on dubai and spend as frivolously as you have been. This is why you are angry about devaluation.

            You cannot deceive us!

            #ForwardNigeria

  2. OMG! GEJ abeg comot for the post and you will be respected for crying out loud !

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