Africa’s richest man, Aliko Dangote is now the 104th wealthiest man on the planet, the first time he has dropped out of the list of top 100 richest people in the world, according to Bloomberg billionaires ranking.
Dangote’s slump in its ranking was largely due to devaluation of the naira.
Devaluation of the Naira against the dollar from about 198 to about 300, is projected to have eroded about a quarter of Dangote’s wealth even as he continues to invest heavily in Nigeria.
His latest investment being a $12 million oil refinery and petrochemical plant in the country’s commercial capital, Lagos.
But with his worth of $11.1 billion, Dangote remains ahead of American billionaires, Donald Trump and Oprah Winfrey.
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