Business

Aliko Dangote is the only Nigerian on 2018 Forbes ‘World’s Most Powerful People list’

The 2018 Forbes World Most Powerful People list is out and Africa’s richest man and Nigerian business mogul, Alhaji Aliko Dangote is the only Nigerian to make the 75 Most Powerful People in 2018.

He’s pegged on 66th position coming a spot ahead of Vice President of the United States of America, Mike Pence who’s pegged on number 67 on the list.

Four factors were taken into account to select each of the World’s Most Powerful People: how many people over whom they have power; the financial resources they control; if they have influence in more than one sphere; and how actively they wield their power to change the world.

Dangote, who made his fortune in the cement industry, is turning his attention to dairy and sugar farming; he’s earmarked $800 million to buy 50,000 cattle in the hope of producing 500 million litres of milk annually by 2019.

He’s also racing to finish a 650,000-barrel-a-day oil refinery near Lagos, set to be one of the world’s biggest, and says he intends to spend as much as $50 billion in the next decade on renewable energy and petrochemical refineries, including investments in the U.S. and Europe.

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