Aliko Dangote
By Jon Egie
Criticism trails the reported 15 per cent increase in wealth of Africa’s richest man, Aliko Dangote.
Forbes reported that in spite of the pandemic, Dangote’s net worth rose by 15 per cent at the end of 2021, attributing the gains to a surge in real estate development and patronage resulting from government activities.
Aliko Dangote is a major manufacturer of cement and holds a monopoly of the cement business in Nigeria.
In various comments among Facebook users, Nigerians expressed firm believe that the wealth of Dangote is at the expense of Nigerians who he exploits by means provided by the Federal government and selfish individuals.
“Let every cement prospective manufacturer get license just like him and let him pay tax and do the needful with states he has been duping, for example, Kogi State where he has been mining coal for years yet the host communities cannot boast of any meaningful amenities and when you dare to raise a question you have called for your head to be removed” John Paul said.
The news of Dangote’s increase in net worth was not a surprise to Ihekwoaba Izu and Melody Mell Elimare who questioned the disparity in the stock price of cement in Nigeria in comparison to what is obtainable in Togo.
“He is the Nigerian poorest man. How much is the price of cement in Togo and how much is the price of cement in Nigeria his country?
“Why won’t he be richer, you buy cement in the morning for N3900 and that same day you go back and buy it for N4500. The truth is what has beginning also has an end. The same man still gets dollar for as low as 330NGN/1USD, so what is the surprise? Melody asked.
Emeka Marvel Ogbonna in reaction accused government of providing a monopolist opportunity for Dangote to thrive ahead of other competitors.
“Why won’t he be richer by 15 per cent when cement business is being monopolized in favour of him, thereby making the price of the commodity skyrocket to about 5000NGN per bag. To me, Dangote is government made richest man not by his personal effort. Let wealthy Nigerians enjoy the privilege Dangote is enjoying from the government and see if you can hear of Dangote being the richest man in Africa again. Dangote succeeded in killing Ibeto cement, Benue cement and many other states established cement companies to mention but a few.”
For the 11th year in a row, Aliko Dangote remains Africa’s richest person, worth an estimated 13.9billion USD, up from 12.1billion USD last year following 30 per cent increase in the stock price of Dangote cement, his most valued asset.
According to Forbes report, analysts found that a surge in housing developments in Nigeria and growth in government infrastructure spending drove higher demand in the first nine months of 2021.
Dangote is one among the current three billionaires in Nigeria by Forbes list in January 2021.
There are five billionaires in Egypt, five in South Africa and two in Morocco. But Dangote is listed as the richest man in Africa.
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