Aliko Dangote and Abdulsamad Rabiu, two of Nigeria’s wealthiest men, have suffered a combined loss of over five billion dollars ($5.85bn), according to the Bloomberg Billionaire Index (BBI).
BBI was in charge of providing daily rankings of the world’s richest people.
The index showed negative changes in the net worth calculations of Nigerian businessmen as of June 15, 2023.
According to it, Dangote, who is the President of Dangote Group, lost approximately $3.12 billion in the latest update, while Rabiu, the CEO of BUA Group, lost $2.73 billion from his wealth.
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The losses, reports held, occurred just 24 hours after the Central Bank of Nigeria, CBN floated the country’s currency.
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Analysts suggested that the changes in the foreign exchange markets, which were caused by the floating of the naira, may have contributed to the billionaires’ losses.
They added that despite the losses suffered by Dangote and Rabiu, the Nigerian economy was expected to recover and grow in the coming years.
