RECESSION HITS DANGOTE HARD AS BILLIONAIRE DROPS FROM RICHEST PEOPLE LIST

As the economic crisis bedeviling the country bites harder, Africa's richest man, Aliko

Dangote has suffered a major drop in his net worth, Herald reports. It was gathered that the Chairman of Dangote Group lost $5.4 billlion of his net-worth since this year.This was contained in data obtained Wednesday,from Bloomberg Billionaires Index.This drop was caused by slump in commodities prices and a devaluation of the naira in June.The report put Dangote’s net worth at $9.9 billion, a 62 per cent drop since January 2014. Dangote, last month dropped off the list of the 100 richest people in the world.He was the 51st richest man in the world as at March 2016, but he had dropped to 101.