Nigerian business tycoon, Aliko Dangote’s net worth has surged by nearly 100%, reaching an impressive $23.9 billion, Forbes reports.

This leap positions the Nigerian industrialist as the richest person in Africa and the 86th wealthiest individual in the world.

Just last year, Forbes ranked Dangote 144th globally with a net worth of $13.4 billion. The sharp rise in his fortune is largely attributed to his 92.3% stake in the Dangote Petroleum Refinery & Petrochemicals.

At 67, Dangote has returned to the top 100 list for the first time since 2018, according to the Forbes Real-Time Billionaires List.

His nearest African rival, Johann Rupert of South Africa, holds the 161st spot with an estimated $14.4 billion. Fellow Nigerian tycoon Mike Adenuga ranks 481st with $6.8 billion.

Dangote’s wealth surge is driven by the operational launch of his landmark $23 billion petroleum refinery—Africa’s largest and one of the biggest globally. Spanning 6,200 acres in the Lekki Free Zone, Lagos, the facility can process up to 650,000 barrels of crude oil per day, ranking seventh worldwide. It also houses a petrochemical complex capable of producing 3 million metric tons of urea annually, making it Africa’s largest fertilizer producer.

Dangote said the refinery is part of a bold vision to industrialize Africa. “We have to build our nation by ourselves. We have to build our continent by ourselves, not rely on foreign investment,” he told Forbes.

Reflecting on the decade-long project, he added:“It was the biggest risk of my life. If this didn’t work, I was dead.”

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President Bola Tinubu on Friday urged Nigerians to try a newly launched Personal Income Tax calculator that estimates how much would be paid under the tax reforms his administration recently signed into law.

In a post on his official X account, the President said the calculator allows citizens to compare their estimated tax under the proposed reforms with current rates, and ensure a clear understanding of the impact on individual incomes.

Tinubu said the reforms, which take effect from January 2026, are intended to establish a fair tax system, one that never punishes poverty or weighs down the most vulnerable.

He said, “A fair tax system must never punish poverty or weigh down the most vulnerable.

“With the new tax laws I recently signed, taking effect from January 2026, we have lifted this burden and created a path of equity, fairness, and true redistribution in our economy.

“A Personal Income Tax Calculator has been developed. It allows you to check your estimated tax under the new laws against what you currently pay.

“It shows clearly how these reforms protect low-income earners, ensure progressivity, and simplify compliance in order to deliver a transparent system that works for all.”

Tinubu stated further, “Together, we are renewing hope in the Nigeria of our dreams.

“Take a bet on our country. Bet on Nigeria to work for you, your family, and your community.”

The Personal Income Tax calculator can be accessed on https://fiscalreforms.ng/index.php/pit-calculator/.

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The Minister of the Federal Capital Territory, FCT, Nyesom Wike, has spoken of plans to create over 1,600 direct and indirect jobs for youths of the capital city.

Wike disclosed that the jobs will be created through the provision of potable water in all the area councils of the FCT by President Bola Tinubu’s administration.

He made the disclosure during the flag-off of the construction and expansion of water supply to FCT satellite towns, Lot 1; Bwari Township in Bwari Area Council, on Wednesday.

The minister said, “Remember in 2023 when we were appointed, we had stakeholders meeting with the six area councils and in one of such meetings I did say that the president is desirous in providing portable clean water to the Satellite towns.

“When he made that statement, of course, people will always see it as being politics but I remind you that one thing you must give to Mr President is that when he makes his promises, he always fulfills.

“Today, we are in Bwari and tomorrow we will be in Karu. In essence, we are doing two areas councils together.The President has mandated that yes the contract for this ought to be 18 months but we discussed with the contractors and pleaded with them that by the third year anniversary of Mr president we will be able to commission these projects.

“And when the contractors assured us that they can if funds are made available, Mr president immediately approved 50 percent of the total contract sum to CGC Nigeria and I hope that by the grace of God knowing the commitment of this company in which ever job that is given to them they will deliver on time.

“What this tells us is that we are not concentrating development only in the city area, we are also carrying development to the area councils. By the time we finish in Bwari and Karu, the next year’s budget will be to Kuje, Kwali and by the grace of God in 2027 we would have taken over Gwagwalada and Abaji.

“By the time Mr president’s four years expires, there will be clean, treated water. This will provide jobs for our teeming youths, create about 1600 direct and indirect employment.

“This is the first time a government is saying you too deserve to have portable, clean water because water is life. It’s not just saying it but implementing it.”

Wike also assured that projects embarked on by his administration will not be abandoned.

He added: “Be assured that this will not be water you will say is an abandoned project, we don’t abandon projects. We start and we complete it.

“I thank God you have reminded us that agreement is agreement, we have agreed that we are going to do water and we are bringing water, when I come back to say we have performed you too will perform.”

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