Audu Maikori Discharged From Hospital After Slumping At Muson Centre

The Chocolate City boss, Audu Maikori who was reported to have slumped yesterday at the Muson centre in Lagos has been discharged from the St. Nicholas hospital where he was admitted after he was revived by a team of medical doctors. Coming almost 24 hours after he collapsed at the 2017 Women in Management, Business……

AfDB invests $12bn on energy warns against foreign borrowing

The African development Bank (AfDB) is to spend $12 billion in budget support for infrastructure projects on energy in some African countries, including Nigeria in the next five years. It also warned the countries against a rush for international instructions’ loans Disclosing this, the AfDB President, Akinwumi Adesina, said the foreign loans cannot help in…

Bloomberg: Dangote loses $5.4b

Aliko Dangote, President Dangote Group Bloomberg in its latest Billionaire Index reports that Africa’s richest man, Aliko Dangote has lost $ 5.4 billion in his fortune this year. The loss was occasioned by the massive fall of the Nigerian currency, the Naira as the Central Bank of Nigeria rations the dollar, to stem huge capital…

Dangote’s net worth down by $5.4bn due to Nigeria’s economic crisis

Aliko Dangote Richest man in Africa and Chairman, Dangote Group, Alhaji Aliko Dangote has lost $5.4 billlion in its fortune since this year, according to data obtained, Wednesday, from Bloomberg Billionaires Index. Using an average exchange rate of N250 to a dollar, Dangote’s $5.4 billion loss translates to about N1.35 trillion. The Bloomberg Billionaires Index…

Economic Crises! DANGOTE HAS BECOME POORER!

Aliko Dangote has suffered a $5.4 billion loss which translates to about N1.35 trillion. Nigeria’s current economy crisis has taken a toll on Africa’s richest man, Aliko Dangote, resulting in the Nigerian billionaire losing $5.4 billion in fortune since this year. Dangote’s wealth loss has been attributed to the slump in commodities prices and the…

Dangote’s net worth plunges by $5.4bn over Nigeria’s economic distress

Richest man in Africa and Chairman, Dangote Group, Alhaji Aliko Dangote has lost $5.4 billlion of his net-worth since this year. This was contained in data obtained, Wednesday, from Bloomberg Billionaires Index. This drop was caused by slump in commodities prices and a devaluation of the naira in June. The report put Dangote’s net worth…

Breaking: Nigeria’s economy officially goes into recession

Buhari Nigeria, one of Africa’s largest economies, has officially gone into recession. Second quarter figures showed a contraction of 2 percent, according to the National Bureau of Statistics (NBS) The Bureau stated that the economy shrank by 0.36 percent in the first quarter of 2016, to hit its lowest point in 25 years. This economic…

Nigeria’s slump deepens as economy shrinks 2.1%

Nigeria is officially in recession, as the National Bureau of Statistics confirmed GDP growth contraction by 2.1 percent in the second quarter. “It is no surprise, as the macroeconomic woes which saw growth contract by 0.36 percent in the first three months of the year, intensified in Q2,” said Muda Yusuff, director-general of the Lagos……

ADB predicts Nigeria, Africa’s downturn to last 3 years

The head of the African Development Bank, Nigeria’s Akinwumi Adesina, says the continent’s economic downturn could last as long as another three years and urges governments in the region to boost tax revenue and steer clear of international borrowing as the region grapples with its worst economic slump in more than a decade. Only yesterday,……