Aliko Dangote Accumulated Additional Fortune of $500m in a Month
Aliko Dangote, Africa’s richest man and the Chairman of Dangote Group, has gained $500 million in net worth in the last one month, according to the Bloomberg Billionaires index.
The fortune of the richest black man alive expanded from $13 billion in August to N13.5 billion to further moderated his year-to-date losses to $1.31 billion.
Unlike tech billionaires that saw their net worth jumped with the global pandemic, industrialists like Dangote, Viktor Vekselberg, Stefan Quandt, etc have struggled with lockdown and other measures put in place to curb the spread of COVID-19.
According to the Bloomberg Billionaires Index, nine of the top 11 richest people in the world are from the technology sector with Jeff Bezos leading with $83 billion increase in wealth from the year to date. While Elon Musk, Mark Zuckerberg and Mukesh Ambani followed with $68.6 billion, $31.6 billion and $22.4 billion, respectively.
Warren Buffett, arguably the world’s greatest investor, saw his net worth plunged by $6.78 billion to $82.58 billion and eventually displaced by the new tech billionaires from the top 5 to number 6 on the list.
Aliko Dangote is currently ranked 135th richest person in the world behind Gennady Timchenko of Russia but expected to blast through the rank once his 600,000 barrels per day oil refinery is completed in 2021/22.
Meanwhile, tech rout erased $44 billion from the top 10 richest people on Thursday after experts fault the high flying stock price of technology companies, saying they do not reflect the economic uncertainties of the present period.
Jeff Bezos’s net worth plunged by $8.95 billion while Elon Musk suffered a $8.49 decline to $96.2 billion on Thursday.
N-power: More Than 5 million People Applies for Batch C
Over 5 million People Applied for Batch C N-power Program
The Ministry of Humanitarian Affairs Disaster Management and Social Development has said a total of 5,042,001 people applied for the just concluded Batch C of N-power.
The ministry said enrollment portals were opened on June 26th and closed on the 9th of August.
However, Minister Sadiya Umar Farouq has assured Nigerians that the selection process will be transparent and followed due diligence.
She said: “As we renew our commitment to the service of humanity, I will like to seize this opportunity to once again state that we have successfully exited Batch A and B of the N-Power beneficiaries in June and July respectively and we are still working towards ensuring a transition plan that will further engage or absorb them into other programmes.
“We have also received over 5 million applications from proposed N-Power Batch C and we are currently in the process of selecting the qualified beneficiaries coming into the programme.
“I assure all the applicants and Nigerians that the selection process will be transparent.
“Furthermore, I wish to reiterate that I have given approval for the payment of stipends for the exited beneficiaries of batches A and B up to the month of June 2020 including that of the independent monitors.”
According to Farouq, “Also, the final payment of stipend for Batch B is almost ready for transmission to the office of the Accountant General of the Federation for final checks and payment.”
“I, therefore, appeal for patience and understanding from beneficiaries omitted for payment in previous months and those in batch B who are to get their final payment.”
She added that “the N-Power program is aimed to provide the Nigerian youths with opportunities to gain skills for employability and entrepreneurship which will also go along way in assisting the country towards the post-Covid 19 economic recovery.”
FG to Engage Private Sector to Absorb N-power Beneficiaries as Batch C Selection Begins
Private Sector to Absorb N-power Beneficiaries, Says FG
The Federal Government has said beneficiaries of the N-power scheme will be absorbed into government entrepreneurship schemes.
Hajiya Sadiya Farouq, the Minister of Humanitarian Affairs, Disaster Management and Social Development, made the announcement in a statement signed by the Deputy Director of Information in the Ministry, Mrs Rhoda Iliya, following the outcry that trailed the exit of Batch A and Batch B despite the National Bureau of Statistics (NBS) report showing the nation’s unemployment rate rose to 27.1 percent in the second quarter of the year.
The minister also said the federal government is engaging private businesses to join government in creating permanent jobs for the exited N-power beneficiaries.
She, however, noted that the selection of Batch C applicants has started and the list of the successful candidates will be announced on the organisation’s official website.
According to the Ministry, a total of 5,042,001 Nigerians applied for the Batch C N-power program between June 26 and August 9th, 2020 when the program ended.
“The commencement of the Batch C enrolment is sequel to far-reaching consultations and a review of the submissions on the reform and realignment of the programme for greater efficiency.
“Batch C is also being enrolled to provide opportunities for more Nigerian youth to access the programme, in furtherance of the President’s vision of lifting 100 million Nigerians out of poverty.
“This will create opportunities that will enhance the productivity of the Nigerian youth for entrepreneurship.
“Applications will be conducted using a hybrid system of enrolment to ensure that all Nigerians are given an opportunity to participate.
“As a Ministry that caters for the vulnerable, we will also make special considerations for persons living with disabilities.
“Online portal would be open to receive applications from noon on June 26, 2020 and will provide a level playing field for all applicants.
“As part of the Ministry’s reforms to make the programme more efficient, all applicants must supply their Bank Verification Number , in their application.
“This is to ensure a streamlined and transparent selection process. Once applications are submitted, the Ministry will review submissions and publish a list of successful applicants.
“Past beneficiaries are not eligible to participate in the application process. Comprehensive details for the new batch will be announced in the coming weeks,” Farouq said.
FG Includes Emirates Airlines in Restricted Flights
FG Restricts Emirates Airlines From Flying Nigeria
The Federal Government on Friday said it has included Emirates Airlines in the list of airlines not allowed to fly into Nigeria as part of measures to contain the spread of COVID-19 in Nigeria.
Hadi Sirika, the Minister of Aviation, disclosed this via his official Twitter handle on Friday.
According to him, the decision was taken after a meeting between members of the Presidential Task Force on COVID-19 and European Union ambassadors.
The minister said the ban would take effect on Monday, September 21, 2020.
“The PTF sub-committee met today with EU Ambassadors to discuss Lufthansa, Air France/KLM ban. The meeting progressed well. Emirates Airlines’s situation was reviewed & they are consequently included in the list of those not approved, with effect from Monday the 21st September 2020,” Hadi Sirika tweeted.
“The PTF sub committee met today with EU Ambassadors to discuss Lufthansa, Air France/KLM ban. The meeting progressed well. Emirates Airlines’s situation was reviewed & they are consequently included in the list of those not approved, with effect from Monday the 21st Sept. 2020.”
Business2 months ago
Nneka Ede Purchases Portuguese Football Club, Lusitano Ginasio Clube
News2 months ago
British High Commission to Start Accepting Visa Applications From Nigerians Soon
Business2 months ago
Seplat Appoints Emeka Onwuka as CFO, Executive Director
Forex2 months ago
Naira-USD Exchange Rate to Hit N430 – Report
Finance2 months ago
DSS Arrests EFCC, Acting Chairman, Magu
Government2 months ago
FG Puts School Resumption Plan on Hold as COVID-19 Cases Hit 30,000
Forex2 months ago
Naira Declines Against Pound, Euro After Devaluation
Business2 months ago
TAJBank Joins e-Commerce Giants- Launches Nigeria’s 1st Ethical Online Mall