Adenuga and Dangote

By Rashidat Akashat

Aliko Dangote Africa’s richest man according to Forbes, is worth $17.2 billion, compared to his $25 billion dollar worth in 2014.

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After shedding $4.8 billion off his fortune within the past 12 months, Dangote is still Africa’s biggest billionaire loser in dollar terms in 2016

According to FORBES estimate, he is currently down from $17.2 billion, due to the devaluation of Naira by Central Bank  Nigeria in June.

Mike Adenuga Made A Net Worth Increase In 2016

On the other hand, Mike Adenuga was the only billionaire whose net worth increased in 2016 by $2.7 billion.

According to Forbes magazine, “The increase in Adenuga’s net worth is largely due to new information Forbes obtained in 2016 about the value of his assets. Adenuga owns Nigerian telecom company Globacom and Nigerian oil company Conoil Producing. While Adenuga’s net worth has increased since the beginning of 2016, it has dropped significantly since March 2016, when FORBES valued his fortune at $10 billion on the 2016 Billionaires List.

Since then, his net worth has dropped $4.2 billion due to the devaluation of the Nigerian Naira and the country’s struggling oil sector.

Adenuga was the only Nigerian billionaire whose net worth increased this year. (Aliko Dangote, the richest Nigerian and Africa’s richest man, saw his fortune drop nearly 28% to $12.4 billion over the course of 2016.)”