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Bloomberg Rates Aliko Dangote Richest Man In Africa With $15.6bn

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  • Emerges the only Nigerian among six Africans in the top 500 Index

President of Dangote Group, Aliko Dangote remains the richest man in Africa, despite the volatility of Nigerian currency against the dollar. Bloomberg in its daily top billionaire lists, released on Tuesday, revealed that Dangote with a wealth of $15.6 billion topped other Africans in the Index.

Dangote, who remains the richest man in Africa for the 12th year running, was the only Nigerian on the list of the top 500 billionaires, as released by Bloomberg.

Other Africans listed in the latest top 500 world billionaires list for the year 2023 include Johann Rupert and family of South Africa, now worth $13.3 billion, while Nicky Oppenheimer of South Africa, Nassef Sawiris of Egypt, Natie Kirsh of South Africa, and Naguib Sawiris are also worth $9.0 billion, $7.47 billion, $7.37billion and $5.93 billion respectively. These are the only five other Africans that made the list.

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. In calculating net worth, Bloomberg News strives to provide the most transparent calculations available, and each individual billionaire profile contains a detailed analysis of how that person’s fortune is tallied.

The index is a dynamic measure of personal wealth based on changes in markets, the economy and Bloomberg reporting. Each net worth figure is updated every business day after the close of trading in New York. Stakes in publicly traded companies are valued using the share’s most recent closing price. Valuations are converted to U.S. dollars at current exchange rates.

Ellon Musk and Bernard Arnault are the richest in the world with $219billion and $194 billion respectively in their kitties while Jeff Bezos and Bill Gates followed respectively with $151 billion and $130 billion. Larry Ellison was the fifth richest with $130 billion on the world’s billionaires’ chart.

Bloomberg is a global information and technology company, that connect decision makers to a dynamic network of data, people and ideas – “accurately delivering business and financial information, news and insights to customers around the world” Bloomberg L.P. provides financial software tools such as an analytics and equity trading platform, data services, and news to financial companies and organisations through the Bloomberg Terminal.’

Africa’s richest man, with his new worth of $15.6 billion, controls Dangote Industries, a closely-held conglomerate. The Lagos, Nigeria-based company owns sub-Saharan Africa’s biggest cement producer, Dangote Cement. It also has interests in sugar, salt, fertiliser and packaged foods. Dangote also recently commissioned the $19bn petroleum refinery plant, which is now the Africa’s largest refinery.

It would be recalled that Aliko Dangote, was also recently named as among the topmost 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.

Aliko Dangote started his Foundation in 1981, with a mission to enhance opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden economic empowerment opportunities.

Aliko Dangote Foundation was however incorporated in 1994 as a charity in Lagos, Nigeria. 20 years later, the Foundation has become the largest private Foundation in sub–Saharan Africa, with the largest endowment by a single African donor. The primary focus of Aliko Dangote Foundation is health and nutrition, supported by wrap-around interventions in education, empowerment, and humanitarian relief.

BIG STORY

We Will Get It Right With Security —- Obasa

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Speaker of the Lagos State House of Assembly, Rt. Hon Mudashiru Obasa has affirmed that with the support of all Nigerians, President Bola Ahmed Tinubu would get it right with his concerted reengineering of the nation’s security architecture.

Speaking at the APC Stakeholders and Progressives Governors Forum meeting held Saturday, December 6, at the Eko Hotel and Suites, Victoria Island, Lagos, Obasa said he did not doubt that President Tinubu and the All Progressives Congress, APC-led federal government, would do all that they can to ensure that they secure the life and property of every Nigerian.

According to Obasa, “We have seen the president in action and how he is innovating and working hard to resolve our many challenges, especially insecurity, and we believe he will get it done. He’s still the man who can do it. That is why we must do everything within our powers to ensure that he is returned in 2027.”

Speaker Obasa teed off with robust commendations for the governors for their shared dedication and commitment to helping President Tinubu resolve Nigeria’s insecurity problem.

He urged them to galvanise their people when they return to their various states to be a part of the solution to Nigeria’s security challenge, and not stay aloof.

Speaker Obasa added that security is not just about the governors, “It is about everybody. We must all be involved in fighting this problem. We must give the President all the support that we can so that he will succeed in his attempts to redirect the trajectory of Nigeria.”

The PGF had converged on Lagos between December 5 and 6 for a meeting convened by the Chairman of the Forum, Senator Hope Uzodimma, Governor of Imo State, and hosted by Governor Babajide Sanwo-Olu of Lagos State.

In a communique read by Governor Uzodinma, the governors passed a vote of confidence on President Tinubu’s administration, and pledged support for his Renewed Hope Agenda and re-election in 2027.

The Forum, according to Governor Uzodinma, reviewed the security situation across the country and expressed appreciation for the improved coordination between federal, state, and local security structures, as well as the courage and sacrifices of security agencies and community volunteers. They also resolved to strengthen local security architecture in all the states.

Governor Uzodinma said that their two-day engagement provided an opportunity to review the nation’s current trajectory, deepen coordination among the governors, and reaffirm their firm support for the Renewed Hope Agenda of President Tinubu. “The PGF commended President Bola Ahmed Tinubu for his steadfast commitment to stabilizing the economy, strengthening national security, and laying the foundations of sustainable growth through the Renewed Hope Agenda,” he said.

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BIG STORY

Nigerian Army Suspends Officer Retirements Amid National Security Emergency

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The Nigerian Army has suspended all statutory and voluntary retirements for certain categories of officers following the nationwide security emergency declared by President Bola Tinubu.

An internal memo dated December 3, signed by Maj. Gen. E. I. Okoro on behalf of the Chief of Army Staff, and sighted by our correspondent, stated that the suspension of retirements is aimed at retaining manpower, experience, and operational capacity as the Armed Forces expand in response to rising insecurity.

The document, referencing the Harmonized Terms and Conditions of Service Officers (HTACOS) 2024, noted that although officers are ordinarily expected to retire upon reaching their age limit, completing 35 years of service, or after repeated promotion or conversion failures, service extension is permissible under Paragraph 3.10(e) in the interest of the military.

The memo partly read: “Military service of a commissioned officer entails a period of unbroken service in the AFN from the date of enlistment or commissioning to the date of retirement. The period of service is determined by conditions enshrined in the HTACOS Officers 2024. These include attainment of age ceilings on various ranks, a maximum length of service of 35 years, and other criteria provided in Paragraphs 11.02(d) and 17.15, among extant regulations.

“Notwithstanding these provisions, Chapter 3.10(e) of HTACOS Officers 2024 allows for the extension of service to officers in the interest of the service.

“The President and Commander-in-Chief declared a nationwide security emergency on November 26, mandating the expansion of the AFN and other security agencies. In line with this, and to rapidly expand manpower, it has become expedient to temporarily suspend all statutory and voluntary retirements from the Nigerian Army with immediate effect.”

According to the circular, the temporary suspension applies to officers who fall into the following categories: officers who failed promotion examinations three times; officers passed over three times at promotion boards; officers who have reached the age ceiling for their ranks; officers who failed conversion boards three times; and officers who have attained 35 years of service.

“Officers in these categories who are not interested in an extension of service are to continue with the normal retirement procedure. Officers desirous of extension should note that upon extension, they are not eligible for career progression, including promotion, career courses, NA sponsorship, self-sponsored courses, secondment, or extra-regimental appointments,” the memo stated.

It directed all commanders to disseminate the directive and manage morale, adding that the policy would be reviewed as the security situation improves.

President Bola Tinubu, on November 26, 2025, declared a nationwide security emergency and directed the military, police, and intelligence agencies to expand recruitment and deploy thousands of additional personnel.

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BIG STORY

Senate Orders Nationwide Crackdown As Lead Poisoning Hits Ogijo Lagos

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The Senate on Thursday expressed grave alarm over a fast-spreading lead-poisoning crisis in Ogijo, a densely populated community straddling the boundary between Ikorodu (Lagos) and Ogun East Senatorial District.

It described it as a full-blown environmental and public-health emergency that threatened thousands of lives.

The motion, jointly sponsored by Mukhail Adetokunbo Abiru (Lagos East) and Gbenga Daniel (Ogun East), was brought under Matters of Urgent Public Importance pursuant to Orders 41 and 51 of the Senate Standing Orders, 2023 (as amended).

Lawmakers cited scientifically verified reports of extreme lead contamination linked to a cluster of used lead-acid battery recycling factories operating in the area for years.

According to the Senate, the crisis had left residents battling persistent headaches, abdominal pain, memory loss, seizures, and developmental delays in children, symptoms strongly associated with chronic lead exposure.

The chamber noted with concern that the Federal Government had already begun clampdowns, with the Minister of State for Labour and Employment, Nkeiruka Onyejeocha, shutting down seven battery-recycling factories and ordering a temporary halt to lead-ingot exportation pending safety investigations.

Senators said they were “alarmed that residents have for several years complained of persistent headaches, abdominal pains, loss of memory, seizures, cognitive decline, and developmental delays in children, symptoms strongly associated with chronic lead exposure.”

Despite years of community protests, the smelters allegedly continued operating openly, releasing toxic fumes and particulate dust into surrounding homes, markets and playgrounds.

“It is regrettable that despite years of community outcry, smelter furnaces continued operating, discharging toxic fumes from melted batteries directly into surrounding neighbourhoods. We are concerned that while some factory operators deny wrongdoing, community exposure remains extreme.

“The Senate acknowledges and commends the proactive efforts of the Lagos and Ogun State Governments and their relevant ministries and agencies for conducting early inspections, raising community awareness and working with federal authorities to contain the exposure,” lawmakers said.

The chamber further cited disturbing findings by independent testing commissioned by The Examination and The New York Times, which revealed severe contamination in both residents’ blood samples and soil within the industrial cluster.

Some environmental samples, senators noted, showed lead levels “up to 186 times the global maximum safety threshold.”

A major dimension of the scandal, lawmakers said, was that lead processed in Ogijo had already been traced into international supply chains, reaching global battery and automobile manufacturers who either did not address the findings or relied solely on assurances from Nigerian suppliers.

The Senate lamented that while some factory operators deny wrongdoing, community exposure remains dangerously high amid weak accountability and gaps in Nigeria’s regulatory frameworks.

Senators nonetheless praised emergency actions taken by the Lagos and Ogun state governments, commending their early inspections, public-awareness campaigns and support for affected families.

Citing Sections 14(2)(b) and 20 of the 1999 Constitution, the Senate emphasised the government’s responsibility to safeguard citizens’ welfare and ensure a safe environment.

Following extensive deliberations, the Senate resolved to commend both the Federal Government and the Lagos and Ogun State Governments for their swift intervention in shutting down non-compliant lead-recycling factories.

Lawmakers urged continued enforcement, including factory closures, export suspensions, prosecution of violators, and strengthened industrial safety monitoring.

The chamber mandated the Federal Ministry of Health and the Nigeria Centre for Disease Control (NCDC) to deploy emergency medical teams to Ogijo to provide free toxicology screenings, blood-lead management, chelation therapy, and ongoing treatment for affected children and adults.

Simultaneously, the Federal Ministry of Environment and NESREA were directed to carry out comprehensive environmental remediation, mapping soil, groundwater, air, and household dust contamination.

The Senate also called on the Federal Ministry of Solid Minerals and relevant regulatory agencies to enforce strict compliance standards for battery-recycling and lead-processing operations nationwide.

Additionally, it recommended establishing a National Lead Poisoning Response and Remediation Task Force within NEMA and directed the Committee on Legislative Compliance to monitor progress and report back within six weeks.

The Senate described the Ogijo crisis as a preventable tragedy that must serve as a national wake-up call on industrial pollution, regulatory failure and the urgent need to protect vulnerable communities from hazardous waste.

 

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