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Business News of Tuesday, 28 March 2023


Forbes reveals Dangote, Rabiu, Adenuga wealth growing N8.19m per minute in 2023

A collage of Nigeria's richest men A collage of Nigeria's richest men

According to Forbes, the trio of Nigerian billionaires Aliko Dangote, Abdulsamad Rabiu, and Mike Adenuga had a combined wealth of N28.4 billion as of the end of Monday, March 23, 2023.

This represents a N2.9 billion increase compared to the N26.2 billion their wealth stood at as of the start of the year (Sunday, January 1, 2023).

This means that from January to March, the three Nigerian billionaires made N8.19 million per minute, N646.8 million ($1.4 million) per hour, and N15.52 billion ($33.72 million) per day.

Additionally, they made N111.26 billion ($241.6 million) per week in the 12 weeks of that period, and N445.05 billion ($966 million) per month in the last three months.

Aliko Dangote

Aliko Dangote remains unchallenged at the top and shows no signs of slowing down anytime soon.

Checks by show that in the last three months, Dangote has made a whopping $1.6 billion (N736.64bn), which has pushed his wealth to $14.1 billion from $12.5 billion as of January 1, 2023.

which represents 86 percent of the total 2.84 billion earned by the three richest men in Nigeria.

A breakdown of Dangote's N736.64 billion shows that his wealth is growing at a rate of N8.56 billion per day, N6.01 million per minute, N360.78 million per hour, and N61.38 billion per week.

Abdulsamad Rabiu

Abdulsamad Rabiu, the chairman of BUA Group, is currently the second-richest man in Nigeria, with a whopping $8.2 billion as of March 27, 2023. Compared to $8 billion at the start of the year, his wealth increased by $200 million (N92 billion) in the last three months.

Mike Adenuga

Mike Adenuga, who built his fortune in telecom and oil production, started in 2023 with a net worth of $5.7 billion.

As of March 28, Adenuga's fortune has increased by $4 million (N1.84 billion) to $6.1 billion.