Report: Dangote responsible for over 10% of Nigeria’s GDP

Aliko Dangote, Africa’s richest man, and his conglomerate, the Dangote Group, have been reported to be responsible for over 10 percent of Nigeria’s gross domestic product (GDP).

The report, published by TIME Magazine, says Aliko Dangote is currently worth $14.1 billion, but his company’s investment is responsible for much more than his net worth.

According to the World Bank, Nigeria’s GDP stood at $404.653 billion by the end of 2016, maintaining its stance as Africa’s biggest economy, over South Africa and Angola.

“Dangote Group claims its investments contribute upwards of 10% of Nigeria’s GDP, a figure supported by outside economists,” the TIME report read in part.

This suggests that Dangote Group has investments worth more than $40 billion in Nigeria, ranging from cement to food products, and now, to oil and gas.

Dangote Group is currently building the world’s largest…