Dangote Leads List Of Nigerian Billionaires With Huge N478.1bn Dividends Payment on Investments

Dangote Leads List Of Nigerian Billionaires With Huge N478.1bn Dividends Payment on Investments

  • Details on how Nigerian billionaires added to their wealth in the first 12 months of 2021 have emerged
  • The billionaire's list was led by Africa's richest man, Aliko Dangote, as he pocket 63% of the total N478.1 billion
  • From oil to consumer goods, the billionaires' newfound fortune came from direct and/or indirect investments in various companies

Nigerian billionaires who are shareholders and founders of some of the most profitable firms listed on the Nigerian Exchange earned more than N478.1 billion.

The payment was for their direct and/or indirect stakes in dividend payments for the financial year 2021.

According to Nairametrics the billionaires have at least 5% of the total shares and sit on the board or have their proxies representing them on the board.

Dangote billionaires
Nigerian stock market Credit: NGX
Source: Getty Images

Aliko Dangote

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Aliko Dangote, the chairman of Dangote Cement and Africa's richest man, leads the group of 18 billionaires.

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According to data, Dangote earned N301.76 billion in a year, accounting for 63.1 per cent of the entire N478.1 billion.

His direct holding in Dangote Cement is set to earn him N552.95 million, while his indirect holdings raked in a sum of N292.43 billion, summing up to N292.98 billion.

Abdulsamadu Rabiu

In second position is Abdulsamadu Rabiu the Chairman of dual listed BUA companies (BUA Foods and BUA Cement).

His companies paid him N143.09 billion in 2021 as dividends.

Jim Ovia

Jim Ovia the founder of Zenith Bank is reported to have earned N15.72 billion from his direct and indirect stake in the bank as the company.

Abdulsamadu Rabiu (Jr)

The son of businessman founder of BUA Cement and BUA Foods, Abdulsamadu Rabiu (Jr) earned N6.27 billion as dividends from his stake in BUA Foods for the period under review to put him in the 4th position.

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Tony Elumelu

The Chairman of the United Bank for Africa, Tony Elumelu earned a sum of N2.38 billion in 2021.

Other billionaires with huge investment return in 2021

  • Mike Adenuga – N1.43 billion
  • Herbert Wigwe – N1.52 billion
  • Austin Avuru – N1.99 billion

First Bank confirms Femi Otedola as single largest shareholder, as he makes over N543m in 8 hours

Recall Legit.ng reported that First Bank of Nigeria Holdings (FBN) has confirmed Femi Otedola has its largest single shareholder.

It revealed this in its full-year result which was submitted to the Nigerian Exchange on Tuesday, 25 May 2022.

According to the report, FBN report Otedola has a direct holding of 0.58% direct stake and 6.98% indirect stake.

Source: Legit.ng

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