Stock Exchange Rally: Dangote Makes $1.1bn In Six Days - Business

Stock Exchange Rally: Dangote Makes $1.1bn In Six Days - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Stock Exchange Rally: Dangote Makes $1.1bn In Six Days (18867 Views)

Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by Islie(op): 7:01pm On Jun 05, 2017

by Mayowa Tijani

Aliko Dangote, Africa’s richest man and president of Dangote group, has recorded a $1.1 billion increase in fortune over the last six days.

The increase in Dangote’s fortune is due to the rally currently being recorded at the Nigerian Stock Exchange (NSE) over the week.

TheCable understands that NSE has gained N1.06 trillion in June alone, and about 30 percent of that has gone to Dangote Cement.

Dangote, who owns a 91 percent stake in Dangote Cement, the largest company traded on the stock exchange, saw his fortune rise from $10 billion on May 30, 2017 to $11.1 billion as at the close of trading on Monday, June 5, 2017.

Within these days, Dangote Cement stock price has improved from N167.10 on May 30, to a 52-week high of N210 per share on Monday.

According to Bloomberg Billionaire Index , Dangote stands at the 123rd spot on the global billionaire ranking, and the richest man in Africa.

Dangote Cement is currently worth about N3,578,506,555,050 on the Nigerian bourse — about one third of the entire exchange.

Dangote, while unveiling the financial position of the company for 2016, said the cement company saw its revenue jump by 25.1 percent to clock N615 billion — in a recession.

“Looking back at the 2016 financial year, I am pleased to report that our cement sales volumes increased by 25.0 per cent to nearly 23.6Mt. Of this, almost 14.8Mt was sold in the Nigerian market,” Dangote had said.

“Revenues increased by 25.1 per cent to ₦615.1B, of which 68.3 per cent was generated in Nigeria (excluding eliminations) and 31.7 per cent from Pan-African operations. Our earnings before interest, depreciation and amortisation (EBITDA) decreased only slightly, to ₦257.2 billion, with Pan-African operations contributing ₦26.5 billion, excluding central costs.”

https://www.thecable.ng/stock-exchange-rally-dangote-makes-1-1bn-six-days

4 Likes

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by ijustdey: 7:19pm On Jun 05, 2017

the rich keep getting richer, while ethnic bigots keep spilling their bile on webpages

just a rebound of the economy....... see the money this Man has made

84 Likes 6 Shares

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by 989900: 7:45pm On Jun 05, 2017

ijustdey:
the rich keep getting richer, while ethnic bigots keep spilling their bile on webpages

just a rebound of the economy....... see the money this Man has made

Word!

11 Likes 2 Shares

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by aminho(m): 9:21pm On Jun 05, 2017

Sai godiya Dan gidan mariya

13 Likes 1 Share

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by adorablevic: 9:21pm On Jun 05, 2017

God has blessed this man too much
Baba, See Me here ooo

11 Likes 1 Share

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by helphelp: 9:22pm On Jun 05, 2017

Just buy Nigeria bro

6 Likes 1 Share

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by Cladez(m): 9:22pm On Jun 05, 2017

$1.1b in 6 days while some people can't make up to 10 million(naira sef) in their entire life.....i pray we get to reap the fruit of our daily hustle in our different works of life.

48 Likes

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by Nobody: 9:22pm On Jun 05, 2017

Op where I fit faint abeg?

12 Likes 1 Share

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by seXytOhbAd(m): 9:22pm On Jun 05, 2017

I am trying really hard not to sound like a hater, but please let us be giving honor to someone who has put in efforts to building a legacy. This man's company, just the cement operations alone, amounts to a third of the value of our stock market.
I'm pointing this out because our eastern brothers keep yapping about how Lagos is being kept afloat by their business, meanwhile one northern sheik is earning the entire "biafra" internally generated revenue multiplied by 6. Other cement companies like Lafarge and Co are also still making dough too.

Note: I know he has interests which have been supported by the government for many years, but who no like better thing huh

.
Governors in the southeast need to wake up please!!! (Rochas in particular) . As much as I am not a southwesterner, I am impressed by the environment they have created to help interested business people succeed

44 Likes 3 Shares

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by Kimcutie: 9:22pm On Jun 05, 2017

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by Nobody: 9:22pm On Jun 05, 2017

helphelp:
Just buy Nigeria bro

Abiiiii

.
This one better pass BaBa by far.
At least he can manage resources well well...

Allow BaBa to manage DANGOTE GROUP now...
He will set another record by losing $4billion in 4 seconds...through ponzi.

North just dey punish this nation by always presenting their WORST for leadership positions....
When they have better brains.....waiting to unleash their potentials...

10 Likes

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by aminho(m): 9:23pm On Jun 05, 2017

Recession is just a word

1 Like

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by TITOBIGZ(m): 9:23pm On Jun 05, 2017

We need to REBOOT ds sh*t call Nigeria, I swear embarassed

2 Likes

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by costandi(m): 9:23pm On Jun 05, 2017

Something my dad hasn't been able to make in his lifetime cry

1 Like 1 Share

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by rifasenate11(m): 9:23pm On Jun 05, 2017

clear evidence of Nigeria being a capitalist economy

1 Like

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by seunny4lif(m): 9:24pm On Jun 05, 2017

Make them sell Nigeria give this man
Abi wetin remain again
Nothing in Nigeria without this man

1 Like

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by Humblebloke(m): 9:24pm On Jun 05, 2017

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by ANTONINEUTRON(m): 9:24pm On Jun 05, 2017

Help Me Shout Amin OO!!

Amin!!

We Go Make D Money

Amin!!

7 Likes

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by wristbangle: 9:24pm On Jun 05, 2017

Yeeh! $1.1 billion in a week pere?? Jesu!

1 Like

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by mazizitonene(m): 9:25pm On Jun 05, 2017

money...mgbada ego cool

1 Like

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by realnas(m): 9:25pm On Jun 05, 2017

No be only Dangote but alot of investors made money thanks to the stock market rally, I bought access bank at 3naira back in 2013 and it's now trading at 9 naira per share ,I have money off fyn, presco, dangote sugar etc

2 Likes

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by Ghozky(m): 9:25pm On Jun 05, 2017

ijustdey:
the rich keep getting richer, while ethnic bigots keep spilling their bile on webpages

just a rebound of the economy....... see the money this Man has made

Correct thought bro, Nairaland home of ethnic bigots. Everyday dem dey fight, instead of focusing on how to build a better and greater Nigeria.

4 Likes 1 Share

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by Nobody: 9:25pm On Jun 05, 2017

[•3,578,506,555,050] Oh Lawd! It's even more than Recharge card digits!!

7 Likes 1 Share

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by xgziem(m): 9:25pm On Jun 05, 2017

Hmmm dangote

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by Emeks008(m): 9:26pm On Jun 05, 2017

I pray this man will not buy the whole Nigeria one day. Imagine him having ⅓ of Nigeria stock exchange. God dey o

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by admax(m): 9:27pm On Jun 05, 2017

Shebi I said Dangote will soon afford to by Nigeria one day.

$1.1bn in six days, Jesu!

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by ekensi01: 9:28pm On Jun 05, 2017

Na wow, we get this type still the cry for recession. Nigerians greediness was a curse, we u die she she no go follow u oh.

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by Edum13656: 9:28pm On Jun 05, 2017

let him keep making money forgetting his northern brothers that are constituting nuisance in every street North South East and West.

3 Likes 2 Shares

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by Nobody: 9:29pm On Jun 05, 2017

And some people think Biafra is a "reality" grin

odiegwu

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by maberry(m): 9:30pm On Jun 05, 2017

Dangote abeg teach how you make this kind bread

4 Likes

Re: Stock Exchange Rally: Dangote Makes $1.1bn In Six Days by Bondesniger(m): 9:31pm On Jun 05, 2017

when you have money you make more money

we are not dullards we need start up capital

2 Likes 1 Share

1 2 3 Reply

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