General
Dangote’s Net Worth Swells by $3bn in One Year

By Sodeinde Temidayo David
The President and Chief Executive of Dangote Group, Mr Aliko Dangote, has again been named the richest man in Africa by Bloomberg, a position he has occupied for the eighth time in a row, with his net worth rising by $3 billion in one year.
According to the index, which polls the net worth of the richest 500 people in the world released on Monday by Bloomberg in its yearly billionaires’ list, Mr Dangote’s net worth moved up to $17.8 billion from last year’s $14.8 billion.
Mr Dangote was also the only Nigerian on the list of the top 120 billionaires, positioned in 117th on the rank index.
The Bloomberg billionaires index is a daily ranking of the world’s richest people, usually updated at the close of every trading day in the New York stock exchange.
The Nigerian businessman owns sub-Saharan Africa’s biggest cement producer, Dangote Cement Plc. He also has interests in sugar, salt, fertiliser and packaged foods.
Recently, Mr Dangote was also named as the sixth most charitable man in the world by Richtopia, a digital periodical that covers business, economics, and financial news, based in the United Kingdom.
This recognition came after he endowed his foundation, the Aliko Dangote Foundation (ADF), to the tune of $1.25 billion.
The primary focus of the foundation is health and nutrition, supported by wrap-around interventions in education, empowerment and humanitarian relief.
According to the Bloomberg index, Tesla’s founder, Mr Elon Musk and Amazon’s founder, Mr Jeff Bezos, topped the list of the billionaires’ index with a combined $194 billion worth of fortunes.
While Mr Bernard Arnault and Mr Bill Gates followed with $174 billion and $148 billion respectively.
Recognised as the owner of Facebook, Mr Mark Zuckerberg, emerged as the fifth richest in the world with $135 billion on the billionaires’ chart.
Other Africans on the list of top 500 world’s billionaires are three South Africans; the managers of the Swiss-based luxury-goods company Richemont and the South Africa-based company Remgro, Johann Rupert and family had their place on the billionaire index with the worth of $10.1 billion.
A member of the Oppenheimer family from South Africa, also the world’s diamond producer, Mr Nickholas Oppenheimer, was placed at rank 353 with a worth of $7.80 billion.
Also, the CEO of Krish Group, Mr Natie Kirsh, also from SouthAfrica, had a place in the billionaire index, reputed to be worth $7.15 billion and Nassef Sawiris from Egypt is also among African billionaires with a worth of $6.93 billion.
General
Dangote to Produce Plastic Packaging, Textiles as Polypropylene Facility Commences

By Adedapo Adesanya
The Dangote oil refinery has commenced operating its polypropylene facility in Lagos.
Polypropylene is a thermoplastic polymer that is commonly used in plastic packaging, textiles, reusable shopping bags, surgical equipment, household chairs, and kitchen utensils.
According to S&P Global, the starting up of Dangote’s 830,000 metric tonnes per year polypropylene site was one of the last outstanding milestones for the oil refining and petrochemical complex in its commissioning sequence, which has been taking place since January 2024.
“Polypropylene production has now started, with supplies being distributed in 25kg bags, and has already threatened to upend the domestic market,” two market sources had told Platts, part of S&P Global Commodity Insights.
When it becomes operational, the Dangote facility is set to become Africa’s largest polypropylene production site, producing from two polypropylene units with capacities of 500,000 metric tonnes per year and 330,000 metric tonnes per year.
The President of the Dangote Group, Aliko Dangote, previously set out hopes that the complex would fully cover some 250,000 metric tonnes per year of domestic demand for polypropylene.
S&P Global cited that the new capacity could quickly capture market share in the existing polypropylene homopolymer market, which has so far been concentrated at Indorama Eleme’s Port Harcourt refinery in Nigeria and drawn imports from the Middle East.
The company had previously said its $2 billion petrochemical plant located in Ibeju-Lekki, Lagos State, is designed to produce 77 different high-performance grades of polypropylene in the country.
With a turnover of $1.2 billion, the Dangote Petrochemical plant, situated alongside the Dangote Refinery, is positioned to cater to the demands of the growing plastic processing downstream industries, not only in Africa but also in other parts of the world.
Speaking then, Mr Devakumar Edwin, now the Vice President of Dangote Industries Limited, said the Dangote Petrochemical will drive massive investment in the downstream industries, generating huge value addition in the country, creating employment, increasing tax revenues, reducing foreign exchange outflow, and increasing the country’s Gross Domestic Product.
“We have 77 types of polypropylene, which can be used for different purposes, and we can produce it from our petrochemical plant. Currently, the plant is capable of producing about 900,000 tonnes of polypropylene per annum. Our Petrochemical plant should be the biggest in Africa,” he said.
General
Lagos PDP Guber Candidate Jandor Returns to APC

By Adedapo Adesanya
The candidate of the Peoples Democratic Party (PDP) in the 2023 governorship election in Lagos State, Mr Olajide Adediran, popularly known as Jandor, has announced his return to the All Progressives Congress (APC).
Mr Adediran, along with his supporters, switched back to the ruling party on Monday at a media briefing held at Liberty Place, Adeniyi Jones Street, Ikeja, Lagos.
This comes after a closed-door meeting between Jandor and President Bola Tinubu in Aso Rock, Abuja last week, where undisclosed matters were discussed.
Jandor previously resigned from the PDP, citing indiscipline and anti-party activities, betrayal by the party leadership on the eve of the Lagos governorship election.
He also lamented false claims of an alliance that misled PDP supporters into voting for another candidate, presumably the candidate of the Labour Party.
Following his resignation from the opposition party, Mr Adediran, who was previously a member of the ruling party in the state, met President Tinubu in Abuja to inform him of his decision to return to his initial political family.
Before meeting with Mr Tinubu, Jandor also held talks with several political leaders, including former Vice President Atiku Abubakar, former military President Ibrahim Babangida, former Head of State General Abdulsalami Abubakar and 2023 SDP Presidential Candidate, Mr Adewole Adebayo.
Jandor ran alongside popular Nigerian actress, Ms Funke Akindele, but they came third at the 2023 Lagos polls after the incumbent, Mr Babajide Sanwo-Olu, polled a total of 762,134 votes to emerge the winner of the contest.
The candidate of the Labour Party, Mr Gbadebo Rhodes-Vivour, polled 312,329 votes, while the PDP candidate scored 62,449 votes.
General
Rivers Assembly May Impeach Fubara, Serves Notice of Gross Misconduct

By Modupe Gbadeyanka
The Rivers State House of Assembly may have commenced the process of removing Governor Siminalayi Fubara from office.
This is because the legislative arm of government in the state has served a notice of alleged misconduct against Mr Fubara and his deputy, Mrs Ngozi Odu.
The Governor had been at loggerheads with a faction of the parliament in the past months, especially because of his fallout with his political godfather and predecessor, Mr Nyesom Wike, who is currently the Minister of the FCT.
Last week, after a Supreme Court judgment, Mr Fubara went to re-present the 2025 budget to the Rivers Assembly led by Mr Martin Amaewhule, but he was locked out.
Last Friday, the Assembly, which has 27 members loyal to Mr Wike, indefinitely adjourned plenary.
In a notice obtained by Channels Television, the state parliament said the decision to serve the Governor the notice was in line with the Nigerian Constitution.
“In compliance with Section 188 of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and other extant laws, we the undersigned members of the Rivers State House of Assembly hereby forward to you a Notice of Gross Misconduct by the Deputy Governor of Rivers State in the performance of the functions of her office,” the notice read.
Recall that last week, during a media chat, Mr Wike disclosed that heavy would not fall if his successor is impeached by the Rivers Assembly.
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