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The Nigerian Billionaire oil and telecom tycoon, Mike Adenuga and Billionaire Aliko Dangote(CEO Dangote cement) got richer in
2016 according to Forbes Magazine.

Read what Forbes wrote…

While Aliko Dangote
is still Africa’s richest man far, he’s not as rich as he used to
be. In February 2014, his fortune hit an all-time high of $25 billion.
Today, he’s just worth half of that. FORBES estimates that he is
currently , down from $17.2 billion this time last
year on the back of a Central Bank devaluation of the Naira, Nigeria’s
currency, in June. Having shed $4.8 billion off his fortune within the
last 12 months, Dangote is Africa’s biggest billionaire loser in dollar
terms in 2016


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 billionaires 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.)”

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