Dangote responsible for over 10% of Nigeria’s GDP — Report (Vanguard)

Aliko Dangote, Africa’s richest man, and his conglomerate, Dangote Group, have been reported to be responsible for over 10 per cent of Nigeria’s gross domestic product, GDP.

Alhaji Aliko Dangote The report, published by TIME Magazine, said Aliko Dangote was currently worth $14.1 billion, adding that his company’s investment was responsible for much more than his net worth. According to the World Bank, Nigeria’s GDP stood at $404.653 billion by the end of 2016, maintaining its stance as Africa’s biggest economy, over South Africa and Angola.

“Dangote Group claims its investments contribute upwards of 10 per cent of Nigeria’s GDP, a figure supported by outside economists,” the TIME report read in part. Read more