FAMOUSUPDATES

A new revolution of the entertainment industry

Nigerian billionaires gain N512.5 billion in January 2022
Celebrities News World Richest 

Nigerian billionaires gain N512.5 billion in January 2022

Sulaimon Yakubu , , , , , , , , , , , , , , , , , , , , , , ,
Tweet
Share
Share
Pin
0 Shares

Nigerian billionaires gain N512.5 billion in January 2022

The collective wealth of billionaires from direct holdings increased from N2.12 trillion in December 2021 to N2.63 trillion in January 2022.

Nigerian billionaires’ wealth in listed companies increased by N512.5 billion in January 2022, with Abdulsamadu Rabiu of BUA and his son, along with Jim Ovia, topping the gainers’ list.

This is according to Nairametrics’ billionaire tracker, which tracks the net worth of notable shareholders of Nigerian publicly traded companies. According to the list of 15 Nigerians, their collective wealth from direct holdings increased from N2.12 trillion in December 2021 to N2.63 trillion by the end of January 2022.

Meanwhile, Abdulsamadu Rabiu, the founder of BUA Cement and BUA Foods, ranks first on the list with a net worth of N2.39 trillion based on direct holdings in the two companies, while his son ranks second with N115.4 billion.

Notably, the stock market performed admirably in January, with the All-Share index rising by 9.15 percent, pushing market capitalization above N25 trillion. Nairametrics has compiled a list of notable billionaires based solely on their stated direct holdings in NGX-listed companies.

Nigerian billionaires gain N512.5 billion in January 2022

Biggest gainers

Abdulsamadu Rabiu, Chairman of both listed BUA companies (BUA Cement and BUA Foods), is the biggest gainer in the review month, increasing his direct worth in both companies by N465.1 billion in January to N2.39 trillion. This is due to a 61% increase in the share price of the newly listed Bua Foods and a 5.5 percent increase in the price of Bua Cement.

Abdulsamadu Rabiu (Jr) was the second biggest gainer, with his net worth increasing by N43.73 billion to N115.41 billion as of the end of January 2022, thanks to his direct holdings in BUA Foods. Jim Ovia also made N3.19 billion during the review month, thanks to a 3.6 percent increase in Zenith Bank’s share price.

Wole Oshin of Custodian Investment and Ifeoma Esiri of Stanbic IBTC Holdings, on the other hand, lost N23.9 million and N7.99 million from their direct stakes in their respective companies in January.

Abdulsamadu Rabiu – N2.39 trillion

Abdulsamadu, the chairman and founder of BUA Cement, topped the list with a combined net worth of N2.39 trillion derived from his direct stake in the cement company and Bua Foods, a newly listed consumer foods company.

According to the information in the company’s listing memorandum, Rabiu has 16.17 billion direct stakes in BUA Foods, controlling 89.95 percent of the company. He also directly owns 19.04 billion units of BUA Cement shares and indirectly owns 12.2 billion through Damnaz Cement, BUA International, and BAU Cement, giving him a 92.27 percent controlling interest in the company.

His direct shares in BUA Cement were worth N1.04 trillion as of the end of January 2022, while his stakes in BUA Foods were worth N1.35 trillion, resulting in his N2.39 trillion valuation.

According to Forbes, he is currently ranked fifth on the list of Africa’s richest people, with a net worth of $6.5 billion.

Abdulsamadu Rabiu (Jr) – N115.41 billion

Abdulsamadu Rabiu Jr., the billionaire founder’s son, ranks second on the list of billionaires with 1.79 million direct stakes in BUA Foods, representing 9.96 percent of the company. As of the end of January 2022, his stake in the company is worth N115.4 billion.

He and his billionaire father own approximately 99.8 percent of BUA Foods, which has risen to the elite category of stocks worth over one trillion Naira (SWOOT) on the Nigerian stock exchange.

Nigerian billionaires gain N512.5 billion in January 2022

Jim Ovia – N92.38 billion

Jim Ovia, a Nigerian business magnate, founded Zenith Bank, one of Nigeria’s largest commercial banks. He directly owns 3.55 billion shares in the bank and indirectly owns 1.53 million shares, giving him a 16.16 percent stake in the company.

His direct stake in the bank increased to N92.38 billion in January 2022, up from N89.19 billion at the end of December 2021. According to his Forbes bio, he also owns prime real estate throughout Nigeria, as well as the mobile telecom operator Visafone, which has 3 million subscribers.

Aliko Dangote – N20.5 billion

Aliko Dangote, Africa’s richest man and philanthropist, owns N27.64 million shares directly in Dangote Cement and 14.62 billion indirect shares in the company through his other businesses (Dangote industries). He owns 85.97 percent of the company in total.

In addition, Aliko Dangote owns 673.1 million Dangote Sugar shares directly, accounting for 5.38 percent of the company. In January, his direct stake in Dangote Cement increased to N7.2 billion, while Dangote Sugar increased to N11.43 billion, for a total of N18.63 billion.

While Dangote is by far the richest man in Nigeria and Africa, with a net worth of $13.9 billion, the ranking only took into account the billionaire’s direct holdings in publicly traded companies. It is also worth noting that the billionaire launched his car assembly company in January 2020 in collaboration with Peugeot and the state governments of Kaduna and Kano, while his refinery is set to open later that year.

Aliko Dangote Net Worth 2022, Biography and lot more.

Gbenga Oyebode – N5.1 billion

Gbenga Oyebode is a founding partner and the Chairman of the Management Board of Aluko & Oyebode. He is also the Chairman of Okomu Oil Plc and a director of several publicly traded and private companies in Nigeria.

Gbenga owns 35.94 million direct shares and 5.73 million indirect shares in Okomu Oil, giving him a 4.37 percent stake in the company. As of the end of January 2022, his direct worth in the company was N5.1 billion.

Nigerian billionaires gain N512.5 billion in January 2022! Nigerian billionaires gain N512.5 billion in January 2022!! Nigerian billionaires gain N512.5 billion in January 2022!!!

Keynotes

  • The billionaires’ shareholdings were derived from publicly available information in the audited financial statements of the listed companies.
  • To calculate their total value, the direct holdings were multiplied by the company’s share price at the time of reference.
  • Also, for billionaires with stakes in more than one company, Nairametrics compiled their holdings to create these rankings.

Recent Posts

%d bloggers like this: