On Wednesday, November 2023, Aliko Dangote, the wealthiest man in Africa had lost N5.6 billion but had recovered as of today 17th November 2023, he had made a good recovery of his loss.
The Nigerian billionaire had fallen off the list of 76 wealthiest individuals in June 2023 when the Nigerian currency depreciated drastically.
The industrialist’s stocks were affected by the currency depreciation in the country, especially the Dangote Cement.
Since Nigeria started the foreign exchange reforms, which caused the naira to lose more than 40% of its value, Dangote has lost almost $5 billion. With an estimated net worth of $15.8 billion, he is ranked 115th in the world on the Bloomberg Billionaires Index.
As the Naira skyrocketed a few days ago, the Nigerian billionaire made a major increase on his ROI and has regained his loss.
