Dangote 9th on list of top 10 manufacturing billionaires

According to CEOWorld magazine, Aliko Dangote, with a net worth of US$10,5 billion, is the only African on the list, dominated by billionaires from Asia and Europe.

The 66-year-old billionaire, who derived most of his wealth from his 85,2 per cent majority stake in Dangote Cement, the largest cement producer in sub-Saharan Africa, credits much of his success to his maternal grandfather, who instilled a business mindset in him from a very young age.

During a stakeholders’ meeting on Sunday at the Bank of Industry headquarters in Abuja, Special Assistant to the President on Special Duties and Domestic Affairs, Toyin Subaru, made the news.

Subaru said that 11,500 CNG-powered buses are scheduled to be deployed this week as part of this plan.

By addressing the transportation issues brought on by the recent elimination of subsidies, this action seeks to provide the general public with a workable answer.

The Federal Government promised that the installation of CNG buses would result in a considerable drop in the price of CNG, to N230 per kg, giving residents an economical and environmentally responsible choice.

Subaru highlighted that Nigerians will be able to save up to two-thirds of their commuting expenses with the introduction of CNG-powered mass transit buses.

He also emphasized how the program helps to promote compressed natural gas (CNG) as a sustainable substitute for conventional gasoline-powered automobiles. – Business Insider Africa

“Now, with this CNG plan, we don’t even have to import what we need to operate our vehicles. It is called CNG and we have the gas here in Nigeria. So, the idea is just to take the gas to distribute it across Nigeria via different truck stations,” Subaru said.

“Most gas is not CNG enabled yet and what we are doing is to help them convert their cars so you can use petrol and CNG at the same time. We are going to develop an app that will enable you to locate where a CNG station is located. We should be able to buy gas for our cars at N230 per KG as against the cost of petrol which is N680 per liter. This should help every Nigerian save about two-thirds of their transport cost,” he added. Business Insider Africa