Nigerian millionaires will increase in number by almost 47 percent over the next four years as higher house and stock prices in the West African nation complement a booming economy, according to New World Wealth.
Dangote Group, controlled by Africa’s richest man Aliko Dangote, is considering the purchase of Nigerian oil fields as international companies plan to sell onshore assets in the continent’s top crude producer.
Africa’s richest man Aliko Dangote said his Dangote Group would join the ranks of the world’s biggest 100 companies within three years as he invests in cement, agriculture and oil refining across the continent.
Dangote Group, the Nigerian company controlled by Africa’s richest man Aliko Dangote, plans to invest about $16 billion in cement, petrochemicals and agriculture over the next four years to boost expansion.
Dangote Cement Plc, whose merger with Benue Cement Co. makes it Africa’s biggest producer of the building material by capacity, plans to raise capacity more than fivefold by 2015 through expansion amid a construction boom in Africa, Chief Operating Officer Kunle Alake said.